AXTI
$57.09+0.53%
AXTI financial statements
The full income statement, balance sheet, and cash-flow statement for AXT Inc (AXTI), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 44.5M2024-09 44.8M2024-12 45.6M2025-03 45.6M2025-06 46.1M2025-09 46.6M2025-12 55.6M2026-03 65.4M2026-06 65.6M+47.4% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 88.3M-11.1% | 99.4M+31.1% | 75.8M-46.3% | 141M+2.7% | 137M+44.1% | |
| 11.2M-52.8% | 23.8M+79.0% | 13.3M-74.4% | 52.1M+9.9% | 47.4M+56.6% | ||
| Cost of revenue | 77.1M+2.1% | 75.5M+20.9% | 62.5M-29.8% | 89.0M-1.1% | 90.0M+38.2% | |
| 33.2M-14.0% | 38.6M+10.8% | 34.9M-11.8% | 39.6M+14.6% | 34.5M+31.1% | ||
| Research & development | 9.05M-37.8% | 14.5M+20.4% | 12.1M-13.2% | 13.9M+34.7% | 10.3M+44.8% | |
| Selling, general & administrative | 24.2M+0.3% | 24.1M+5.7% | 22.8M-11.1% | 25.7M+6.1% | 24.2M+26.0% | |
| Provision for credit losses | 0.00 | 0.00-100.0% | 272K+253.7% | -177K-303.4% | 87.0K-52.5% | |
| Operating income | -22.0M-48.5% | -14.8M+31.4% | -21.6M-271.8% | 12.6M-2.7% | 12.9M+227.3% | |
| Interest expense | 1.26M-6.2% | 1.34M-12.2% | 1.53M | — | — | |
| Other non-operating income | 924K-54.9% | 2.05M-6.1% | 2.18M-37.5% | 3.49M+585.1% | 509K-84.1% | |
| Equity-method income | 765K-77.8% | 3.44M+82.5% | 1.88M-68.4% | 5.96M+35.1% | 4.41M+3872.1% | |
| Pre-tax income | -21.5M-102.2% | -10.7M+44.0% | -19.0M-190.9% | 20.9M+18.9% | 17.6M+148.9% | |
| Income tax | 1.66M+46.2% | 1.13M+608.8% | 160K-92.7% | 2.19M+99.9% | 1.09M-46.2% | |
| -21.3M-82.9% | -11.6M+35.0% | -17.9M-213.1% | 15.8M+8.5% | 14.6M+350.1% | ||
| Net income to non-controlling interest | -1.94M-1062.9% | -167K+87.3% | -1.31M-144.8% | 2.93M+51.6% | 1.93M+7.3% | |
| Net income to common | -21.4M-81.7% | -11.8M+34.6% | -18.1M-215.5% | 15.6M+8.6% | 14.4M+370.4% | |
| -$0.49-81.5% | -$0.27+35.7% | -$0.42-213.5% | $0.37+8.8% | $0.34+385.7% | ||
| EPS (basic) | -$0.49-81.5% | -$0.27+35.7% | -$0.42-213.5% | $0.37+5.7% | $0.35+337.5% | |
| Weighted-avg shares (basic) | 43.9M+1.8% | 43.2M+1.2% | 42.6M+1.3% | 42.1M+1.8% | 41.4M+3.0% | |
| Weighted-avg shares (diluted) | 43.9M+1.8% | 43.2M+1.2% | 42.6M-0.2% | 42.7M-0.0% | 42.7M+4.1% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 247M+55.8% | 158M-7.3% | 171M-7.0% | 184M+14.6% | 160M-2.6% | ||
| Cash & equivalents | 120M+426.7% | 22.8M-39.5% | 37.8M+8.0% | 34.9M-4.9% | 36.8M-49.4% | |
| Short-term investments | 0.00 | — | 2.14M-77.1% | 9.34M+72.3% | 5.42M+2157.9% | |
| Cash & short-term investments | 128M | — | — | — | — | |
| Accounts receivable | 26.8M+4.7% | 25.6M+33.2% | 19.3M-34.2% | 29.3M-16.0% | 34.8M+41.9% | |
| Inventory | 81.7M-4.0% | 85.1M-1.6% | 86.5M-3.5% | 89.6M+36.0% | 65.9M+27.9% | |
| Prepaid expenses | 9.69M-29.5% | 13.7M+8.7% | 12.6M-9.5% | 14.0M-19.0% | 17.3M+10.6% | |
| 434M+27.8% | 339M-5.4% | 359M-3.1% | 370M+11.3% | 332M+11.2% | ||
| Property, plant & equipment | 162M+1.3% | 160M-4.0% | 166M+3.3% | 161M+13.1% | 142M+23.0% | |
| Operating lease right-of-use | 1.98M-20.0% | 2.48M-11.4% | 2.80M+58.9% | 1.76M-24.2% | 2.32M-13.4% | |
| Long-term investments | 0.00 | — | — | 2.12M-77.9% | 9.58M+67.2% | |
| Deferred tax assets | 1.51M+6.2% | 1.42M-15.7% | 1.68M-24.7% | 2.24M-4.4% | 2.34M | |
| Other non-current assets | 23.4M+23.9% | 18.8M-0.3% | 18.9M-12.6% | 21.6M+20.6% | 17.9M+77.5% | |
| 90.5M+22.1% | 74.2M-9.1% | 81.6M+8.3% | 75.3M+57.5% | 47.8M+22.4% | ||
| Accounts payable | 12.9M+4.8% | 12.4M+28.5% | 9.62M-4.6% | 10.1M-39.4% | 16.6M+31.4% | |
| Accrued liabilities | 14.8M+1.7% | 14.6M-23.5% | 19.0M+4.7% | 18.2M+6.5% | 17.1M+6.6% | |
| Deferred revenue | 103K-93.5% | 1.59M+421.3% | 305K-9.8% | 338K-64.3% | 946K+152.9% | |
| Short-term & current debt | 4.30M+230.8% | 1.30M-97.5% | 52.9M+12.4% | 47.1M+285.0% | 12.2M | |
| Current lease liability | 579K+8.0% | 536K+17.0% | 458K-5.6% | 485K-0.6% | 488K+9.7% | |
| 99.1M+17.4% | 84.4M-5.7% | 89.6M+11.5% | 80.3M+53.9% | 52.2M+20.5% | ||
| Deferred revenue (non-current) | 0.00 | — | — | — | — | |
| Non-current lease liability | 1.44M-27.1% | 1.98M-15.9% | 2.35M+77.8% | 1.32M-31.7% | 1.94M-18.5% | |
| Operating lease liability (total) | 2.02M-19.6% | 2.51M-10.5% | 2.81M+55.5% | 1.81M-25.4% | 2.42M-14.0% | |
| Other non-current liabilities | 7.14M-13.5% | 8.25M+46.1% | 5.65M+53.5% | 3.68M+49.9% | 2.45M+30.4% | |
| 273M+41.8% | 193M-5.5% | 204M-8.0% | 222M+4.8% | 212M+9.8% | ||
| Preferred stock | 3.53M+0.0% | 3.53M+0.0% | 3.53M+0.0% | 3.53M+0.0% | 3.53M+0.0% | |
| Common stock | 55.0K+22.2% | 45.0K+2.3% | 44.0K+0.0% | 44.0K+2.3% | 43.0K+2.4% | |
| Additional paid-in capital | 340M+40.7% | 242M+1.3% | 238M+1.3% | 235M+1.6% | 232M+0.5% | |
| Retained earnings | -64.9M-48.7% | -43.7M-36.3% | -32.0M-126.3% | -14.2M+52.8% | -30.0M+32.7% | |
| Accumulated other comprehensive income | -5.29M+38.8% | -8.66M-44.3% | -6.00M-92.4% | -3.12M-149.5% | 6.30M+96.4% | |
| Non-controlling interest | 23.3M-1.2% | 23.6M+0.3% | 23.5M+0.9% | 23.3M+27.2% | 18.3M+19.3% | |
| Total equity incl. non-controlling | 297M+37.1% | 216M-4.9% | 227M-7.1% | 245M+6.5% | 230M+10.5% | |
| Total liabilities & equity | 434M+27.8% | 339M-5.4% | 359M-3.1% | 370M+11.3% | 332M+11.2% | |
| Common shares issued | 55.2M+21.8% | 45.4M+2.5% | 44.2M+0.0% | 44.2M+3.2% | 42.9M+2.2% | |
| Common shares outstanding | 55.2M+21.8% | 45.4M+2.5% | 44.2M+1.6% | 43.6M+1.6% | 42.9M+2.2% | |
| Shares outstanding (cover) | 55.6M+21.9% | 45.6M+3.1% | 44.2M+1.6% | 43.6M+1.4% | 43.0M+2.1% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -12.8M-5.5% | -12.1M-455.9% | 3.40M+138.8% | -8.77M-165.2% | -3.31M-156.4% | ||
| Depreciation & amortization | 9.11M+1.4% | 8.98M+2.9% | 8.72M+7.4% | 8.12M+14.7% | 7.08M+63.4% | |
| Share-based compensation | 3.29M+6.3% | 3.10M-12.5% | 3.54M-11.6% | 4.01M-11.4% | 4.52M+72.3% | |
| Deferred income taxes | 11.0K-94.6% | 203K-59.2% | 498K+378.8% | 104K-95.6% | 2.34M | |
| Change in receivables | 390K-94.3% | 6.90M+174.1% | -9.31M-105.2% | -4.54M-146.5% | 9.75M+82.8% | |
| Change in inventory | -6.35M-961.2% | 737K+168.7% | -1.07M-103.4% | 31.4M+153.3% | 12.4M+1253.8% | |
| Change in payables | 147K-95.2% | 3.04M+1975.3% | -162K+97.1% | -5.52M-254.9% | 3.56M+54.6% | |
| -6.83M-53.7% | -4.45M-70.7% | -2.60M+89.7% | -25.2M+35.0% | -38.8M-136.3% | ||
| Capital expenditure | 6.00M+3.9% | 5.77M-44.9% | 10.5M-63.2% | 28.5M-4.0% | 29.6M+49.3% | |
| Free cash flow | -18.8M-5.0% | -17.9M-152.9% | -7.07M+81.0% | -37.2M-13.0% | -33.0M-135.5% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 107M+20080.4% | -536K-106.2% | 8.61M-77.4% | 38.0M+564.3% | 5.72M-89.1% | ||
| Long-term debt issued | 3.46M-40.6% | 5.83M+818.3% | 635K | 0.00 | 0.00 | |
| Long-term debt repaid | 1.51M+88.2% | 804K | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| FX effect on cash | — | 790K+222.3% | -646K-219.2% | 542K-1.6% | 551K-84.7% | |
| Net change in cash | 94.6M+680.0% | -16.3M-286.0% | 8.77M+91.2% | 4.58M+112.8% | -35.8M-178.4% | |
| Interest paid | 1.79M-13.4% | 2.07M+32.3% | 1.56M | — | — | |
| Income taxes paid | 586K-39.1% | 962K+40.2% | 686K-59.5% | 1.69M-46.7% | 3.18M+62.2% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 909M+818.3% | 98.9M-5.5% | 105M-45.1% | 191M-49.6% | 378M-6.0% | |
| P/E | — | — | — | 10.9×-57.9% | 26.0×-79.1% | |
| P/S | 10.3×+933.0% | 1.0×-21.9% | 1.3×+1.6% | 1.3×-54.5% | 2.8×-34.8% | |
| P/B | 3.3×+547.7% | 0.5×+0.1% | 0.5×-41.6% | 0.9×-50.9% | 1.8×-14.4% | |
| Earnings yield | — | — | — | 9.1%+137.3% | 3.9%+379.0% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: AXTI’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all AXTI filings on SEC EDGAR → Not investment advice.