AXT Reports $5.1 Million Loss in Q4, Missing Estimates
AXT Inc. (AXTI) reported a net loss of $5.1 million in its fiscal fourth quarter ended April 30, 2023. On a per-share basis, the loss came in at 12 cents, below analysts' consensus expectation of a 4-cent loss.
Adjusted for stock option expenses, the loss was 10 cents per share.
Revenue for the quarter totaled $25.1 million, exceeding the Street's forecast of $23.9 million.
For the full year, AXT reported a narrower loss of $11.6 million, or 27 cents per share, on revenue of $99.4 million.
At the close of trading on Thursday, AXT's shares stood at $2.29, marginally higher than their price of $2.28 a year earlier.
Despite the revenue beat, the company's quarterly loss underscores ongoing challenges in the semiconductor materials industry. Investors will closely monitor AXT's future performance and any impact on its stock price.