AXT, Inc. Announces First Quarter 2024 Financial Results
FREMONT, Calif., May 02, 2024 (GLOBE NEWSWIRE) -- AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor wafer substrates, today reported financial results for the first quarter, ended March 31, 2024.
- FREMONT, Calif., May 02, 2024 (GLOBE NEWSWIRE) -- AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor wafer substrates, today reported financial results for the first quarter, ended March 31, 2024.
- GAAP gross margin was 26.9 percent of revenue for the first quarter of 2024, compared with 22.6 percent of revenue for the fourth quarter of 2023 and 26.3 percent for the first quarter of 2023.
- GAAP operating expenses were $9.4 million for the first quarter of 2024, compared with $8.2 million for the fourth quarter of 2023 and $9.5 million for the first quarter of 2023.
- Non-GAAP operating expenses were $8.7 million for the first quarter of 2024, compared with $7.5 million for the fourth quarter of 2023 and $8.7 million for the first quarter of 2023.