AXT INC — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that AXT INC filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2024 | Dec 31, 2024 | $99.36M | Mar 14, 2025 |
| FY2023 | Dec 31, 2023 | $20.43M | Mar 15, 2024 |
| FY2023 | Sep 30, 2023 | $17.37M | Mar 15, 2024 |
| FY2023 | Jun 30, 2023 | $18.60M | Mar 15, 2024 |
| FY2023 | Mar 31, 2023 | $19.41M | Mar 15, 2024 |
| FY2023 | Dec 31, 2022 | $26.80M | Mar 15, 2024 |
| FY2023 | Sep 30, 2022 | $35.18M | Mar 15, 2024 |
| FY2023 | Jun 30, 2022 | $39.49M | Mar 15, 2024 |
| FY2023 | Mar 31, 2022 | $39.65M | Mar 15, 2024 |
| FY2022 | Dec 31, 2021 | $37.73M | Mar 16, 2023 |
Revenue
Revenue recognized from contracts with customers under ASC 606, excluding taxes collected on behalf of government authorities. This is the primary revenue concept for many companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $88.33M | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | $99.36M | Mar 17, 2026 |
| FY2025 | Dec 31, 2023 | $75.80M | Mar 17, 2026 |
| FY2023 | Dec 31, 2022 | $141.12M | Mar 15, 2024 |
| FY2023 | Dec 31, 2021 | $137.39M | Mar 15, 2024 |
| FY2022 | Dec 31, 2020 | $95.36M | Mar 16, 2023 |
| FY2021 | Dec 31, 2019 | $83.26M | Mar 15, 2022 |
| FY2020 | Dec 31, 2018 | $102.40M | Mar 23, 2021 |
| FY2019 | Dec 31, 2017 | $98.67M | Mar 12, 2020 |
| FY2018 | Dec 31, 2016 | $81.35M | Mar 11, 2019 |
Gross Profit
Revenue minus the cost of goods sold (COGS). Gross profit shows how much revenue remains to cover operating expenses, R&D, and administrative costs before calculating operating income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $11.24M | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | $23.84M | Mar 17, 2026 |
| FY2023 | Dec 31, 2023 | $4.63M | Mar 15, 2024 |
| FY2023 | Sep 30, 2023 | $1.87M | Mar 15, 2024 |
| FY2023 | Jun 30, 2023 | $1.72M | Mar 15, 2024 |
| FY2023 | Mar 31, 2023 | $5.11M | Mar 15, 2024 |
| FY2023 | Dec 31, 2022 | $8.60M | Mar 15, 2024 |
| FY2023 | Sep 30, 2022 | $14.78M | Mar 15, 2024 |
| FY2023 | Jun 30, 2022 | $15.44M | Mar 15, 2024 |
| FY2023 | Mar 31, 2022 | $13.31M | Mar 15, 2024 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($21.26M) | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | ($11.62M) | Mar 17, 2026 |
| FY2023 | Dec 31, 2023 | ($3.62M) | Mar 15, 2024 |
| FY2023 | Sep 30, 2023 | ($5.82M) | Mar 15, 2024 |
| FY2023 | Jun 30, 2023 | ($5.09M) | Mar 15, 2024 |
| FY2023 | Mar 31, 2023 | ($3.35M) | Mar 15, 2024 |
| FY2023 | Dec 31, 2022 | $1.34M | Mar 15, 2024 |
| FY2023 | Sep 30, 2022 | $5.76M | Mar 15, 2024 |
| FY2023 | Jun 30, 2022 | $5.55M | Mar 15, 2024 |
| FY2023 | Mar 31, 2022 | $3.17M | Mar 15, 2024 |
Operating Income
Profit from core business operations before interest expense and income taxes (also known as EBIT). Excludes non-operating items, making it a cleaner measure of operational efficiency than net income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($21.98M) | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | ($14.80M) | Mar 17, 2026 |
| FY2025 | Dec 31, 2023 | ($21.57M) | Mar 17, 2026 |
| FY2024 | Dec 31, 2022 | $12.55M | Mar 14, 2025 |
| FY2023 | Dec 31, 2021 | $12.90M | Mar 15, 2024 |
| FY2022 | Dec 31, 2020 | $3.94M | Mar 16, 2023 |
| FY2021 | Dec 31, 2019 | ($314.0K) | Mar 15, 2022 |
| FY2020 | Dec 31, 2018 | $12.15M | Mar 23, 2021 |
| FY2019 | Dec 31, 2017 | $12.64M | Mar 12, 2020 |
| FY2018 | Dec 31, 2016 | $6.43M | Mar 11, 2019 |
R&D Expense
Spending on research and development activities — developing new products, improving existing ones, or conducting basic research. High R&D relative to revenue is common in technology and pharmaceutical companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $9.05M | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | $14.54M | Mar 17, 2026 |
| FY2025 | Dec 31, 2023 | $12.08M | Mar 17, 2026 |
| FY2024 | Dec 31, 2022 | $13.91M | Mar 14, 2025 |
| FY2023 | Dec 31, 2021 | $10.33M | Mar 15, 2024 |
| FY2022 | Dec 31, 2020 | $7.14M | Mar 16, 2023 |
| FY2021 | Dec 31, 2019 | $5.83M | Mar 15, 2022 |
| FY2020 | Dec 31, 2018 | $5.90M | Mar 23, 2021 |
| FY2019 | Dec 31, 2017 | $4.83M | Mar 12, 2020 |
| FY2018 | Dec 31, 2016 | $5.85M | Mar 11, 2019 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $24.17M | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | $24.10M | Mar 17, 2026 |
| FY2025 | Dec 31, 2023 | $22.81M | Mar 17, 2026 |
| FY2024 | Dec 31, 2022 | $25.65M | Mar 14, 2025 |
| FY2023 | Dec 31, 2021 | $24.19M | Mar 15, 2024 |
| FY2022 | Dec 31, 2020 | $19.20M | Mar 16, 2023 |
| FY2021 | Dec 31, 2019 | $19.31M | Mar 15, 2022 |
| FY2020 | Dec 31, 2018 | $19.00M | Mar 23, 2021 |
| FY2019 | Dec 31, 2017 | $17.01M | Mar 12, 2020 |
| FY2018 | Dec 31, 2016 | $13.88M | Mar 11, 2019 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($12.78M) | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | ($12.11M) | Mar 17, 2026 |
| FY2025 | Dec 31, 2023 | $3.40M | Mar 17, 2026 |
| FY2024 | Dec 31, 2022 | ($8.77M) | Mar 14, 2025 |
| FY2023 | Dec 31, 2021 | ($3.31M) | Mar 15, 2024 |
| FY2022 | Dec 31, 2020 | $5.87M | Mar 16, 2023 |
| FY2021 | Dec 31, 2019 | $12.66M | Mar 15, 2022 |
| FY2020 | Dec 31, 2018 | $3.22M | Mar 23, 2021 |
| FY2019 | Dec 31, 2017 | $8.62M | Mar 12, 2020 |
| FY2018 | Dec 31, 2016 | $12.50M | Mar 11, 2019 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $6.00M | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | $5.77M | Mar 17, 2026 |
| FY2025 | Dec 31, 2023 | $10.48M | Mar 17, 2026 |
| FY2024 | Dec 31, 2022 | $28.47M | Mar 14, 2025 |
| FY2023 | Dec 31, 2021 | $29.65M | Mar 15, 2024 |
| FY2022 | Dec 31, 2020 | $19.86M | Mar 16, 2023 |
| FY2021 | Dec 31, 2019 | $21.79M | Mar 15, 2022 |
| FY2020 | Dec 31, 2018 | $40.54M | Mar 23, 2021 |
| FY2019 | Dec 31, 2017 | $21.36M | Mar 12, 2020 |
| FY2018 | Dec 31, 2016 | $2.73M | Mar 11, 2019 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $433.75M | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | $339.31M | Mar 17, 2026 |
| FY2024 | Dec 31, 2023 | $358.70M | Mar 14, 2025 |
| FY2023 | Dec 31, 2022 | $370.07M | Mar 15, 2024 |
| FY2022 | Dec 31, 2021 | $332.44M | Mar 16, 2023 |
| FY2021 | Dec 31, 2020 | $298.86M | Mar 15, 2022 |
| FY2020 | Dec 31, 2019 | $223.35M | Mar 23, 2021 |
| FY2019 | Dec 31, 2018 | $223.52M | Mar 12, 2020 |
| FY2018 | Dec 31, 2017 | $211.20M | Mar 11, 2019 |
| FY2017 | Dec 31, 2016 | $154.25M | Mar 9, 2018 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $99.12M | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | $84.41M | Mar 17, 2026 |
| FY2024 | Dec 31, 2023 | $89.56M | Mar 14, 2025 |
| FY2023 | Dec 31, 2022 | $80.33M | Mar 15, 2024 |
| FY2022 | Dec 31, 2021 | $52.21M | Mar 16, 2023 |
| FY2021 | Dec 31, 2020 | $43.33M | Mar 15, 2022 |
| FY2020 | Dec 31, 2019 | $30.59M | Mar 23, 2021 |
| FY2019 | Dec 31, 2018 | $28.99M | Mar 12, 2020 |
| FY2018 | Dec 31, 2017 | $22.88M | Mar 11, 2019 |
| FY2017 | Dec 31, 2016 | $16.86M | Mar 9, 2018 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $273.29M | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | $192.77M | Mar 17, 2026 |
| FY2024 | Dec 31, 2023 | $203.99M | Mar 14, 2025 |
| FY2023 | Dec 31, 2022 | $221.61M | Mar 15, 2024 |
| FY2022 | Dec 31, 2021 | $211.53M | Mar 16, 2023 |
| FY2021 | Dec 31, 2020 | $192.62M | Mar 15, 2022 |
| FY2020 | Dec 31, 2019 | $187.89M | Mar 23, 2021 |
| FY2019 | Dec 31, 2018 | $190.84M | Mar 12, 2020 |
| FY2018 | Dec 31, 2017 | $183.82M | Mar 11, 2019 |
| FY2017 | Dec 31, 2016 | $133.01M | Mar 9, 2018 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($64.92M) | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | ($43.66M) | Mar 17, 2026 |
| FY2024 | Dec 31, 2023 | ($32.04M) | Mar 14, 2025 |
| FY2023 | Dec 31, 2022 | ($14.16M) | Mar 15, 2024 |
| FY2022 | Dec 31, 2021 | ($29.97M) | Mar 16, 2023 |
| FY2021 | Dec 31, 2020 | ($44.55M) | Mar 15, 2022 |
| FY2020 | Dec 31, 2019 | ($47.78M) | Mar 23, 2021 |
| FY2019 | Dec 31, 2018 | ($45.18M) | Mar 12, 2020 |
| FY2018 | Dec 31, 2017 | ($54.84M) | Mar 11, 2019 |
| FY2017 | Dec 31, 2016 | ($64.99M) | Mar 9, 2018 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $120.27M | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | $22.83M | Mar 17, 2026 |
| FY2024 | Dec 31, 2023 | $37.75M | Mar 14, 2025 |
| FY2023 | Dec 31, 2022 | $34.95M | Mar 15, 2024 |
| FY2022 | Dec 31, 2021 | $36.76M | Mar 16, 2023 |
| FY2021 | Dec 31, 2020 | $72.60M | Mar 15, 2022 |
| FY2020 | Dec 31, 2019 | $26.89M | Mar 23, 2021 |
| FY2019 | Dec 31, 2018 | $16.53M | Mar 12, 2020 |
| FY2018 | Dec 31, 2017 | $44.35M | Mar 11, 2019 |
| FY2017 | Dec 31, 2016 | $36.15M | Mar 9, 2018 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 0 | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | 0 | Mar 17, 2026 |
| FY2023 | Dec 31, 2023 | 0 | Mar 15, 2024 |
| FY2023 | Sep 30, 2023 | 0 | Mar 15, 2024 |
| FY2023 | Jun 30, 2023 | 0 | Mar 15, 2024 |
| FY2023 | Mar 31, 2023 | 0 | Mar 15, 2024 |
| FY2023 | Dec 31, 2022 | 0 | Mar 15, 2024 |
| FY2023 | Sep 30, 2022 | 0 | Mar 15, 2024 |
| FY2023 | Jun 30, 2022 | 0 | Mar 15, 2024 |
| FY2023 | Mar 31, 2022 | 0 | Mar 15, 2024 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 0 | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | 0 | Mar 17, 2026 |
| FY2023 | Dec 31, 2023 | 0 | Mar 15, 2024 |
| FY2023 | Sep 30, 2023 | 0 | Mar 15, 2024 |
| FY2023 | Jun 30, 2023 | 0 | Mar 15, 2024 |
| FY2023 | Mar 31, 2023 | 0 | Mar 15, 2024 |
| FY2023 | Dec 31, 2022 | 0 | Mar 15, 2024 |
| FY2023 | Sep 30, 2022 | 0 | Mar 15, 2024 |
| FY2023 | Jun 30, 2022 | 0 | Mar 15, 2024 |
| FY2023 | Mar 31, 2022 | 0 | Mar 15, 2024 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 55.34M | Mar 17, 2026 |
| FY2025 | Dec 31, 2024 | 45.36M | Mar 17, 2026 |
| FY2024 | Dec 31, 2023 | 44.24M | Mar 14, 2025 |
| FY2023 | Dec 31, 2022 | 43.55M | Mar 15, 2024 |
| FY2022 | Dec 31, 2021 | 42.89M | Mar 16, 2023 |
| FY2021 | Dec 31, 2020 | 41.97M | Mar 15, 2022 |
| FY2020 | Dec 31, 2019 | 40.63M | Mar 23, 2021 |
| FY2019 | Dec 31, 2018 | 39.99M | Mar 12, 2020 |
| FY2018 | Dec 31, 2017 | 39.41M | Mar 11, 2019 |
| FY2017 | Dec 31, 2016 | 33.03M | Mar 9, 2018 |