AXT Inc. (NASDAQ:AXTI) shares are surging premarket on Friday after the company posted strong second-quarter results after Thursday’s closing bell.
Semiconductor wafer manufacturer AXT reported adjusted EPS of 19 cents, which beat the analyst consensus estimate of seven cents, according to Benzinga Pro data.
Revenue rose 164.80% year over year (Y/Y) to $47.59 million, blowing past the Street estimate of $34.09 million.
Adjusted gross margin expanded to 45.0% in the second quarter from 8.2% in the second quarter of 2025, led by higher volumes and favorable product mix.
Adjusted operating profit stood at $11.2 million, better than the loss of $6.1 million in the prior-year quarter.
