• AXT posted Q1 revenue up 39.1% to $26.92 million, driven by a 74% rise in substrate sales to $19.28 million.
• Gross profit swung to $7.98 million from a loss, lifting gross margin to 29.6% from -6.4% a year earlier.
• North America revenue dropped 81.3% to $207,000, while Europe revenue more than doubled to $5.72 million.
• Selling, general and administrative costs rose 10.7% to $6.55 million, while research and development spend edged down 3.4% to $3.01 million.
• Export permit approvals for indium phosphide remained a key operational focus, with ongoing backlog and uncertain timing for additional approvals.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. AXT Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001437749-26-017054), on May 14, 2026, and is solely responsible for the information contained therein.