Q4 24 EPS
$-0.10
MISS 138.10%
Est. $-0.04
Q4 24 Revenue
$25.1M
BEAT +4.89%
Est. $23.9M
vs S&P Since Q4 24
+3,420.2%
BEATING MARKET
AXTI +3,442.4% vs S&P +22.2%
Market Reaction
Did AXTI Beat Earnings? Q4 2024 Results
AXT, Inc. Reported Q4 2024 non-GAAP EPS of -$0.10, missing the -$0.04 consensus estimate by 150%. Revenue came in at $25.1 million, representing 22.9% YoY growth from $20.4 million in Q4 2023. GAAP gross margin declined to 17.6% from 24.0% in the pri… Read more AXT, Inc. Reported Q4 2024 non-GAAP EPS of -$0.10, missing the -$0.04 consensus estimate by 150%. Revenue came in at $25.1 million, representing 22.9% YoY growth from $20.4 million in Q4 2023. GAAP gross margin declined to 17.6% from 24.0% in the prior quarter, pressuring profitability despite top-line gains. For the full fiscal year 2024, revenue grew 31% to $99.4 million, while the non-GAAP net loss improved 40% year over year. The company made meaningful progress penetrating the cell phone market, which represents a roughly $100 million addressable opportunity, and expanded its presence in cloud and data center infrastructure. AXT's subsidiary Tongmei continues to pursue its STAR Market IPO listing in China, pending CSRC approval. Operating expenses rose significantly in Q4, with SG&A increasing to $6.4 million and R&D spending climbing to $4.1 million, reflecting investments in next-generation connectivity materials.
Key Takeaways
- • 31% year-over-year revenue growth for fiscal year 2024
- • Successful penetration of the cell phone market, estimated at ~$100M addressable market
- • Growth in cloud and data center infrastructure market revenue
- • 21% improvement in non-GAAP gross profit year over year
- • 40% improvement in non-GAAP net loss year over year
AXTI YoY Financials
Q4 2024 vs Q4 2023, source: SEC Filings
“Our growth in 2024 showed a year of improvement for AXT in several key areas. We delivered a 31 percent increase in revenue, a 21 percent improvement in non-GAAP gross profit, and a 40 percent improvement in non-GAAP net loss. Over the last twelve months we have aggressively advanced the technical specifications of our materials to help our global customer base solve complex, next-generation connectivity challenges. As such, 2024 marked a meaningful year of our revenue growth into the cloud and data center infrastructure market, as well as our successful penetration of the cell phone market, which is close to a $100M addressable market, and before now, largely untapped by AXT. Through our product success, world-class manufacturing, and unique supply chain, we have built a valuable company poised to address the rapidly growing market opportunities ahead of us.”
— Morris Young, Q4 2024 Earnings Press Release
AXTI Earnings Trends
AXTI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AXTI EPS Trend
Earnings per share: estimate vs actual
AXTI Revenue Trend
Quarterly revenue: estimate vs actual
AXTI Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.05 | $-0.01 | +78.26% | $26.9M | +2.69% |
| Q4 25 BEAT | $-0.06 | $-0.05 | +13.79% | $23.0M | -4.96% |
| Q3 25 BEAT | $-0.12 | $-0.03 | +75.41% | $28.0M | +37.68% |
| Q2 25 MISS | $-0.13 | $-0.15 | -11.94% | $18.0M | +0.18% |
| Q1 25 MISS | $-0.14 | $-0.19 | -37.68% | $19.4M | +1.97% |
| Q4 24 MISS | $-0.04 | $-0.10 | -138.10% | $25.1M | +4.89% |