AXT Inc (NASDAQ: AXTI) Announced Revenue of $33.7 Million for Q2 F21

AXT Inc (NASDAQ: AXTIis a top compound semiconductor wafer substrate manufacturer that recently announced revenue of $33.7 million in Q2 F21.

Qualitative comments from management

The company’s Chief Executive Officer, Morris Young, said that second-quarter results helped show how the business still continues to build momentum with major clientele wins that are ever contributing to their total revenue. Mr. Young continued to say that the investments they’ve made in their facilities, their business, and their team over the past couple of years have come at the perfect time and are helping generate new opportunities. In addition, he claimed that with these investments, the company can try out many different major tech trends and be supplied by some of the world’s most prestigious companies.

The company’s record results and growth indicate a robust competitive position and the many applications for compound semiconductor products.

Q2 F21 Highlights 

Revenue for Q2 F21, which was $33.7 million, grew by 52% from Q2 F20, when the recorded revenue was 22.1 million. It was also more than the $31.4 million recorded for Q1 F20. 36.3% gross margin revenue for Q2 F21 was lower than the 36.8% reported for Q1 F21 but higher than the 30.6% for Q2 F20. Operating costs came to $8.3 million in Q2 F21, which was higher than the reported $8 million for Q1 F21 and the $6.3 million for Q2 F20. Operating profits for Q2 F21 was $3.9 million. The operating profits for the second quarter of the previous fiscal year were $0.5 million, a lot lower than what it looked like this year.

The company recorded a $4.4 million net income in Q2 F21, representing $0.1 per share. The net income reported in the second quarter of the previous year was $0.4 million, representing about $0.01 per share. The net income for Q1 F21 was $3.4 million.

Star Market Listing

AXT last year talked about its strategic plans on how it was going to penetrate the capital markets in China. The company is making great strides in this department as well.

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