AXT Inc.'s recent Q4 earnings call revealed a mix of strong demand drivers and near-term challenges. The company reported a record indium phosphide backlog and growing demand from AI and data centers, supported by a significant cash raise for capacity expansion. However, AXT also faced lower Q4 revenue, continued losses, elevated inventory, and significant reliance on unpredictable China export permits to convert its backlog into revenue.
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AXT Inc. Earnings Call Balances Growth And Risk
AXT Inc.'s recent Q4 earnings call revealed a mix of strong demand drivers and near-term challenges. The company reported a record indium phosphide backlog and growing demand from AI and data centers, supported by a significant cash raise for capacity expansion. However, AXT also faced lower Q4 revenue, continued losses, elevated inventory, and significant reliance on unpredictable China export permits to convert its backlog into revenue.