15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $88M | -$21M | 12.7% | -24.9% | -$19M | — | $120M |
| 2024 | $99M | -$12M | 24.0% | -14.9% | -$18M | — | $23M |
| 2023 | $76M | -$18M | 17.6% | -28.5% | -$7M | — | $38M |
| 2022 | $141M | $16M | 36.9% | 8.9% | -$37M | — | $35M |
| 2021 | $137M | $15M | 34.5% | 9.4% | -$33M | — | $37M |
| 2020 | $95M | $3M | 31.7% | 4.1% | -$14M | — | $73M |
| 2019 | $83M | -$3M | 29.8% | -0.4% | -$9M | — | $27M |
| 2018 | $102M | $10M | 36.2% | 11.9% | -$37M | — | $17M |
| 2017 | $99M | $10M | 34.9% | 12.8% | -$13M | — | $44M |
| 2016 | $81M | $6M | 32.4% | 7.9% | $10M | — | $36M |
| 2015 | — | -$2M | — | — | -$2M | — | $25M |
| 2014 | — | -$1M | — | — | — | — | $29M |
| 2013 | — | -$8M | — | — | -$3M | — | $25M |
| 2012 | — | $3M | — | — | $14M | — | $31M |
| 2011 | — | $20M | — | — | $5M | — | $25M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $27M | -$2M | 29.6% | -5.9% | -$13M | — | $42M |
| Dec '25 | $23M | -$4M | 20.9% | -16.6% | $1M | — | $120M |
| Sep '25 | $28M | -$2M | 22.3% | -4.0% | -$11M | — | $23M |
| Jun '25 | $18M | -$7M | 8.0% | -37.5% | -$5M | — | $27M |
| Mar '25 | $19M | -$9M | -6.4% | -53.1% | -$4M | — | $32M |
| Dec '24 | $25M | -$5M | 17.6% | -24.6% | $1M | — | $23M |
| Sep '24 | $24M | -$3M | 24.0% | -14.4% | -$6M | — | $25M |
| Jun '24 | $28M | -$2M | 27.4% | -6.8% | $572000 | — | $28M |
| Mar '24 | $23M | -$2M | 26.9% | -14.8% | -$13M | — | $26M |
| Dec '23 | $20M | -$4M | 22.6% | -17.4% | $2M | — | $38M |
| Sep '23 | $17M | -$6M | 10.7% | -38.7% | -$5M | — | $29M |
| Jun '23 | $19M | -$5M | 9.2% | -36.8% | $1M | — | $30M |
| Mar '23 | $19M | -$3M | 26.3% | -22.9% | -$5M | — | $35M |
| Dec '22 | $27M | $1M | 32.1% | -3.7% | $836000 | — | $35M |
| Sep '22 | $35M | $6M | 42.0% | 13.0% | -$23M | — | $33M |
| Jun '22 | $39M | $6M | 39.1% | 13.4% | -$117000 | — | $41M |
| Mar '22 | $40M | $3M | 33.6% | 9.3% | -$15M | — | $29M |
| Dec '21 | $38M | $3M | 32.2% | 8.0% | -$3M | — | $37M |
| Sep '21 | $35M | $4M | 33.3% | 6.9% | -$6M | — | $44M |
| Jun '21 | $34M | $4M | 36.3% | 11.6% | -$10M | — | $53M |
How the market has priced AXTI against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Axt Inc's revenue has declined 1.5% per year. These are computed facts, not advice.
As of FY2025, Axt Inc reported — of total debt against $120M of cash; operating income covered interest expense -17.5×.
In FY2025, gross margin was 12.7%, operating margin -24.9%, and net margin -24.1%.
As of Jun '26, Axt Inc traded at a price-to-earnings ratio of about 9.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.