News: Suppliers
8 April 2024
AXT expects Q1/2024 revenue of $22.4–22.7m, exceeding $20–22m guidance
AXT Inc of Fremont, CA, USA — which makes gallium arsenide (GaAs), indium phosphide (InP) and germanium (Ge) substrates and raw materials — says that it expects to report revenue of $22.4–22.7m for first-quarter 2024, up from $19.4m a year ago and last quarter’s $20.4m, and exceeding its prior guidance of $20–22m.
This reflects growth in demand for both InP and GaAs substrates for a variety of applications, including artificial intelligence/data-center connectivity, infrastructure, wireless devices, industrial lasers, and others.
AXT will announce its financial results for first-quarter 2024 after the close of market on 2 May.
