AXTI AXT Inc - Common Stock
NASDAQ · Semiconductors · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 13, 2026
$85.87
· of 52w range
· above low
· to high
$4.0052w low
$143.1652w high
Market Cap (MRQ)
$5.63B
P/E (TTM)
8587.0
EPS (TTM)
$0.01
Revenue (TTM)
$126M
your badges
52W Range
$4–$143
Analyst Rating
BUY
Price Target
$92
P/E
8587.0
ROE
0.76%
Net Profit Margin
3.2%
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AXTI Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$85.87
Market Cap (MRQ)
$5.63B
P/E (TTM)
8587.0
EPS (TTM)
$0.01
Revenue (TTM)
$126M
ROE (TTM)
0.76%
Debt/Equity (MRQ)
0.1
52W Range
$4–$143
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$88M2016-12-31 → 2025-12-31
EPS$-0.492016-12-31 → 2025-12-31
Free Cash Flow$-19M2016-12-31 → 2025-12-31
Net margin3.2%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | AXTI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 8587.05Y avg ≈-1.9 | ≈-1.9 | 68.4 | Overvalued | |
| P/S (TTM) | 44.95Y avg ≈3.3 | ≈3.3 | 6.9 | Overvalued | |
| P/B (MRQ) | 6.35Y avg ≈1.4 | ≈1.4 | 7.0 | Undervalued | |
| EV / EBITDA (TTM) | 393.95Y avg ≈-21.7 | ≈-21.7 | · | · | |
| Price / FCF (TTM) | -287.85Y avg ≈-17.0 | ≈-17.0 | · | · | |
| Price / Cash Flow (TTM) | -977.35Y avg ≈-36.9 | ≈-36.9 | · | · | |
| EV / Revenue (TTM) | 42.25Y avg ≈3.4 | ≈3.4 | · | · | |
| EV / FCF (TTM) | -270.85Y avg ≈-18.5 | ≈-18.5 | · | · | |
| Price / Tangible Book | 17.45Y avg ≈1.4 | ≈1.4 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | AXTI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 32.2%5Y avg ≈25.1% | ≈25.1% | 46.0% | In line | |
| Operating Margin (TTM) | 3.1%5Y avg ≈-10.0% | ≈-10.0% | 17.6% | Top tier | |
| EBITDA Margin (TTM) | 10.7%5Y avg ≈-1.6% | ≈-1.6% | 18.5% | Top tier | |
| Pretax Margin (TTM) | 7.6%5Y avg ≈-6.5% | ≈-6.5% | 20.0% | Top tier | |
| Net Profit Margin (TTM) | 3.2%5Y avg ≈-7.5% | ≈-7.5% | 14.0% | Top tier | |
| ROA (TTM) | 0.57%5Y avg ≈-0.92% | ≈-0.92% | 4.6% | Weak | |
| ROE (TTM) | 0.76%5Y avg ≈-1.8% | ≈-1.8% | 7.9% | Weak | |
| ROIC | -7.0%5Y avg ≈-2.5% | ≈-2.5% | 5.6% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | AXTI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.15Y avg ≈0.2 | ≈0.2 | 0.3 | Low debt | |
| Current Ratio (MRQ) | 4.85Y avg ≈2.5 | ≈2.5 | 3.7 | Strong liquidity | |
| Quick Ratio (MRQ) | 3.65Y avg ≈1.1 | ≈1.1 | 2.1 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | AXTI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -11.1%5Y avg ≈4.1% | ≈4.1% | · | · | |
| Revenue CAGR 3Y | -14.5%5Y avg ≈-10.7% | ≈-10.7% | · | · | |
| Revenue CAGR 5Y | -1.5% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | AXTI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.25Y avg ≈0.3 | ≈0.3 | 0.5 | Weak | |
| Inventory Turnover | 0.95Y avg ≈1.0 | ≈1.0 | 2.2 | Weak | |
| Receivables Turnover | 3.45Y avg ≈4.0 | ≈4.0 | 5.6 | Weak | |
| Revenue / Employee | ≈$57.3K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
44.0%
Next Report
Oct 28, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | $0.19 | $0.08 | 153.0% | |
| March 31, 2026 | $-0.01 | $-0.05 | 78.7% | |
| Dec. 31, 2025 | $-0.05 | $-0.06 | 14.5% | |
| Sept. 30, 2025 | $-0.03 | $-0.12 | 75.2% | |
| June 30, 2025 | $-0.16 | $-0.14 | -14.7% | |
| March 31, 2025 | $-0.20 | $-0.14 | -43.0% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $88M | $99M | $76M | $141M | $137M | $95M | $83M | $102M | $99M | $81M | $78M | $83M | |
| Cost of Revenue | $77M | $76M | $62M | $89M | $90M | $65M | $58M | $65M | $64M | $55M | $61M | $66M | |
| Gross Profit | $11M | $24M | $13M | $52M | $47M | $30M | $25M | $37M | $34M | $26M | $17M | $17M | |
| R&D Expense | $9M | $15M | $12M | $14M | $10M | $7M | $6M | $6M | $5M | $6M | $6M | $4M | |
| SG&A Expense | $24M | $24M | $23M | $26M | $24M | $19M | $19M | $19M | $17M | $14M | $16M | $15M | |
| Operating Expenses | $33M | $39M | $35M | $40M | $35M | $26M | $25M | $25M | $22M | $20M | $22M | $20M | |
| Operating Income | $-22M | $-15M | $-22M | $13M | $13M | $4M | $-314.0K | $12M | $13M | $6M | $-5M | $-3M | |
| Other Non-op | $924.0K | $2M | $2M | $3M | $509.0K | $3M | $947.0K | $352.0K | $-553.0K | $860.0K | $2M | $361.0K | |
| Pretax Income | $-22M | $-11M | $-19M | $21M | $18M | $7M | $-1M | $12M | $11M | $6M | $-2M | $-482.0K | |
| Income Tax | $2M | $1M | $160.0K | $2M | $1M | $2M | $562.0K | $938.0K | $792.0K | $733.0K | $531.0K | $215.0K | |
| Net Income | $-21M | $-12M | $-18M | $16M | $15M | $3M | $-3M | $10M | $10M | $6M | $-2M | $-1M | |
| EPS (Basic) | $-0.49 | $-0.27 | $-0.42 | $0.37 | $0.35 | $0.08 | $-0.07 | $0.24 | $0.27 | $0.17 | $-0.07 | $-0.05 | |
| EPS (Diluted) | $-0.49 | $-0.27 | $-0.42 | $0.37 | $0.34 | $0.07 | $-0.07 | $0.24 | $0.26 | $0.17 | $-0.07 | $-0.05 | |
| Shares (Basic) | 43,933,000 | 43,154,000 | 42,643,000 | 42,104,000 | 41,367,000 | 40,152,000 | 39,487,000 | 39,049,000 | 37,444,000 | 32,139,000 | 32,183,000 | 32,452,000 | |
| Shares (Diluted) | 43,933,000 | 43,154,000 | 42,643,000 | 42,715,000 | 42,720,000 | 41,025,000 | 39,487,000 | 40,265,000 | 38,966,000 | 32,894,000 | 32,183,000 | 32,452,000 | |
| EBITDA | $-13M | $-6M | $-13M | $21M | $20M | $8M | $5M | $17M | $17M | $11M | $595.0K | $3M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $120M | $23M | $38M | $35M | $37M | $73M | $27M | $17M | $44M | $36M | $25M | $29M | |
| Short-term Investments | $0 | · | $2M | $9M | $5M | $240.0K | $9M | $22M | $20M | $11M | $11M | $12M | |
| Receivables | $27M | $26M | $19M | $29M | $35M | $25M | $19M | $20M | $23M | $14M | $18M | $18M | |
| Inventory | $82M | $85M | $87M | $90M | $66M | $52M | $49M | $59M | $46M | $40M | $38M | $39M | |
| Prepaid Expense | $10M | $14M | $13M | $14M | $17M | $16M | $9M | $12M | $8M | $5M | $4M | $5M | |
| Current Assets | $247M | $158M | $171M | $184M | $160M | $165M | $113M | $129M | $141M | $107M | $97M | $103M | |
| PP&E (Net) | $162M | $160M | $166M | $161M | $142M | $116M | $97M | $82M | $47M | $28M | $31M | $34M | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | · | $80M | $79M | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | · | · | $49M | $45M | |
| Other Non-current Assets | $23M | $19M | $19M | $22M | $18M | $10M | $10M | $12M | $12M | $13M | $16M | $15M | |
| Total Assets | $434M | $339M | $359M | $370M | $332M | $299M | $223M | $224M | $211M | $154M | $152M | $162M | |
| Accounts Payable | $13M | $12M | $10M | $10M | $17M | $13M | $10M | $13M | $11M | $7M | $6M | $7M | |
| Accrued Liabilities | $15M | $15M | $19M | $18M | $17M | $16M | $12M | $15M | $11M | $9M | $6M | $8M | |
| Short-term Debt | $59M | $46M | $53M | $47M | $12M | · | · | · | · | · | · | · | |
| Current Liabilities | $91M | $74M | $82M | $75M | $48M | $39M | $28M | $29M | $23M | $16M | $13M | $15M | |
| Capital Leases | $1M | $2M | $2M | $1M | $2M | $2M | $3M | · | · | · | · | · | |
| Other Non-current Liabilities | $7M | $8M | $6M | $4M | $2M | $2M | $366.0K | $283.0K | $289.0K | $330.0K | $344.0K | $333.0K | |
| Total Liabilities | $99M | $84M | $90M | $80M | $52M | $43M | $31M | $29M | $23M | $17M | $14M | $17M | |
| Total Debt | $63M | $47M | $53M | $47M | · | · | · | · | · | · | · | · | |
| Common Stock | $55.0K | $45.0K | $44.0K | $44.0K | $43.0K | $42.0K | $41.0K | $40.0K | $39.0K | $33.0K | $32.0K | $32.0K | |
| Paid-in Capital | $340M | $242M | · | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $-65M | $-44M | $-32M | $-14M | $-30M | $-45M | $-48M | $-45M | $-55M | $-65M | $-71M | $-68M | |
| AOCI | $-5M | $-9M | $-6M | $-3M | $6M | $3M | $-5M | $-2M | $3M | $253.0K | $4M | $8M | |
| Stockholders' Equity | $273M | $193M | $204M | $222M | $212M | $193M | $188M | $191M | $184M | $133M | $132M | $138M | |
| Liabilities + Equity | $434M | $339M | $359M | $370M | $332M | $299M | $223M | $224M | $211M | $154M | $152M | $162M | |
| Shares Outstanding | 55,237,000 | 45,358,000 | 44,239,000 | 43,554,000 | 42,886,000 | 41,967,000 | 40,632,000 | 39,985,000 | 39,413,000 | 33,032,000 | 32,548,000 | 32,837,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $9M | $9M | $9M | $8M | $7M | $4M | $6M | $5M | $4M | $5M | $5M | $6M | |
| Stock-based Comp | $3M | $3M | $4M | $4M | $5M | $3M | $2M | $2M | $1M | $1M | $1M | $1M | |
| Deferred Tax | $11.0K | $203.0K | $498.0K | $104.0K | $2M | · | · | · | · | · | · | $0 | |
| Restructuring | · | · | · | · | · | · | · | · | · | $226.0K | $0 | $907.0K | |
| Other Non-cash | $-4M | $-13M | $8M | $-37M | $-32M | $-4M | $7M | $-13M | $-7M | $907.0K | $-3M | $-2M | |
| Operating Cash Flow | $-13M | $-12M | $3M | $-9M | $-3M | $6M | $13M | $3M | $9M | $13M | $2M | $3M | |
| CapEx | $6M | $6M | $10M | $28M | $30M | $20M | $22M | $41M | $21M | $3M | $4M | $2M | |
| Investing Cash Flow | $-7M | $-4M | $-3M | $-25M | $-39M | $-16M | $-8M | $-31M | $-36M | $-1M | $-2M | · | |
| Debt Issued | $3M | $6M | $635.0K | · | · | · | · | · | · | · | · | · | |
| Net Debt Issued | $2M | $5M | $635.0K | · | · | · | · | · | · | · | · | · | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | $2M | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | $-2M | $0 | |
| Financing Cash Flow | $107M | $-536.0K | $9M | $38M | $6M | $53M | $6M | $213.0K | $36M | $1M | $-2M | · | |
| Net Change in Cash | $95M | $-16M | $9M | $5M | $-36M | $46M | $10M | $-28M | $8M | $11M | $-4M | $4M | |
| Taxes Paid | $586.0K | $962.0K | $686.0K | $2M | $3M | · | · | · | · | · | · | · | |
| Free Cash Flow | $-19M | $-18M | $-7M | $-37M | $-33M | $-14M | $-9M | $-37M | $-13M | $10M | $-2M | $2M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.7% | 24.0% | 17.6% | 36.9% | 34.5% | 31.8% | 29.8% | 36.2% | 34.9% | 32.4% | 21.7% | 20.6% | |
| Operating Margin | -24.9% | -14.9% | -28.5% | 8.9% | 9.4% | 4.1% | -0.38% | 11.9% | 12.8% | 7.9% | -6.3% | -3.4% | |
| Net Margin | -24.1% | -11.7% | -23.6% | 11.2% | 10.6% | 3.4% | -3.1% | 9.4% | 10.3% | 6.9% | -2.9% | -1.7% | |
| Pretax Margin | -24.4% | -10.7% | -25.1% | 14.8% | 12.8% | 7.4% | -1.2% | 11.7% | 11.0% | 7.0% | -2.6% | -0.58% | |
| EBITDA Margin | -14.6% | -5.9% | -17.0% | 14.6% | 14.5% | 8.7% | 6.3% | 16.6% | 17.3% | 13.9% | 0.77% | 3.3% | |
| ROA | -5.5% | -3.3% | -4.9% | 4.5% | 4.6% | 1.2% | -1.2% | 4.4% | 5.5% | 3.7% | -1.4% | -0.85% | |
| ROE | -9.1% | -5.9% | -8.4% | 7.3% | 7.2% | 1.7% | -1.4% | 5.1% | 6.4% | 4.2% | -1.7% | -1.0% | |
| ROIC | -7.0% | -6.8% | -8.5% | 4.2% | 5.7% | 1.5% | -0.26% | 5.9% | 6.4% | 4.1% | -4.7% | -3.0% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.7 | 2.1 | 2.1 | 2.4 | 3.3 | 4.2 | 4.1 | 4.5 | 6.2 | 8.2 | 7.5 | 7.0 | |
| Quick Ratio | 1.6 | 0.7 | 0.7 | 1.0 | 1.6 | 2.5 | 2.0 | 2.0 | 3.9 | 4.8 | 4.3 | 4.0 | |
| Debt / Equity | 0.2 | 0.2 | 0.3 | 0.2 | · | · | · | · | · | · | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.3 | 0.2 | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | |
| Inventory Turnover | 0.9 | 0.9 | 0.7 | 1.1 | 1.5 | 1.3 | 1.1 | 1.3 | 1.5 | 1.4 | 1.6 | 1.7 | |
| Receivables Turnover | 3.4 | 4.4 | 3.1 | 4.4 | 4.6 | 4.4 | 4.3 | 4.8 | 5.3 | 4.9 | 4.3 | 5.1 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $4.94 | $4.25 | $4.68 | $5.09 | $4.93 | $4.59 | $4.62 | $4.77 | $4.66 | $4.11 | $4.05 | $4.21 | |
| Revenue / Share | $2.01 | $2.30 | $1.78 | $3.30 | $3.22 | $2.32 | $2.11 | $2.54 | $2.53 | $2.47 | $2.41 | $2.57 | |
| Cash Flow / Share | $-0.29 | $-0.28 | $0.08 | $-0.21 | $-0.08 | $0.14 | $0.32 | $0.08 | $0.22 | $0.38 | $0.06 | $0.12 | |
| Cash / Share | $2.17 | $0.50 | $0.87 | $0.80 | $0.86 | $1.73 | $0.66 | $0.41 | $1.13 | $1.09 | $0.76 | $0.88 | |
| EPS (TTM) | $-0.49 | $-0.27 | $-0.42 | $0.37 | $0.34 | $0.07 | $-0.07 | $0.24 | $0.26 | $0.17 | $-0.07 | $-0.05 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -11.1% | 31.1% | -46.3% | 2.7% | 44.1% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -14.5% | -10.2% | -7.4% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -1.5% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | · | · | 8.8% | 385.7% | · | · | · | · | · | · | · | |
| Net Income YoY | · | · | · | 8.5% | 350.1% | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $88M | $99M | $76M | $141M | $137M | $95M | $83M | $102M | $99M | $81M | $78M | $83M | |
| Net Income TTM | $-21M | $-12M | $-18M | $16M | $15M | $3M | $-3M | $10M | $10M | $6M | $-2M | $-1M | |
| Market Cap | $905M | $98M | $105M | $191M | $378M | $402M | $177M | $174M | $343M | $159M | $81M | $92M | |
| Enterprise Value | $847M | $123M | $118M | $194M | · | · | · | · | · | · | · | · | |
| P/E | -33.4 | -8.0 | -5.7 | 11.8 | 25.9 | 136.7 | -62.1 | 18.1 | 33.5 | 28.2 | -35.4 | -56.0 | |
| P/S | 10.2 | 1.0 | 1.4 | 1.4 | 2.8 | 4.2 | 2.1 | 1.7 | 3.5 | 1.9 | 1.0 | 1.1 | |
| P/B | 3.3 | 0.5 | 0.5 | 0.9 | 1.8 | 2.1 | 0.9 | 0.9 | 1.9 | 1.2 | 0.6 | 0.7 | |
| P / Tangible Book | 3.3 | 0.5 | 0.5 | 0.9 | 1.8 | 2.1 | · | · | · | · | · | · | |
| P / Cash Flow | -70.8 | -8.1 | 30.7 | -21.8 | -114.3 | 68.5 | 14.0 | 54.1 | 39.8 | 12.7 | 43.0 | 24.0 | |
| P / FCF | -48.2 | -5.5 | -14.8 | -5.1 | -11.5 | -28.7 | -19.4 | -4.7 | -26.9 | 16.2 | -35.5 | 49.6 | |
| EV / EBITDA | -65.8 | -21.1 | -9.2 | 9.4 | · | · | · | · | · | · | · | · | |
| EV / FCF | -45.1 | -6.9 | -16.6 | -5.2 | · | · | · | · | · | · | · | · | |
| EV / Revenue | 9.6 | 1.2 | 1.6 | 1.4 | · | · | · | · | · | · | · | · | |
| Earnings Yield | -3.0% | -12.4% | -17.5% | 8.5% | 3.9% | 0.73% | -1.6% | 5.5% | 3.0% | 3.5% | -2.8% | -1.8% |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $48M | $27M | $23M | $28M | $18M | $19M | $25M | $24M | $28M | $23M | $20M | $17M | $19M | $19M | $27M | $35M | |
| Cost of Revenue | $26M | $19M | $18M | $22M | $17M | $21M | $21M | $18M | $20M | $17M | $16M | $16M | $17M | $14M | $18M | $20M | |
| Gross Profit | $21M | $8M | $5M | $6M | $1M | $-1M | $4M | $6M | $8M | $6M | $5M | $2M | $2M | $5M | $9M | $15M | |
| R&D Expense | $4M | $3M | $2M | $1M | $3M | $3M | $4M | $3M | $4M | $3M | $3M | $3M | $3M | $4M | $4M | $4M | |
| SG&A Expense | $7M | $7M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $5M | $6M | $6M | $6M | $6M | $7M | |
| Operating Expenses | $11M | $10M | $9M | $7M | $8M | $9M | $11M | $9M | $10M | $9M | $8M | $9M | $9M | $10M | $10M | $10M | |
| Operating Income | $10M | $-2M | $-4M | $-1M | $-7M | $-10M | $-6M | $-3M | $-2M | $-3M | $-4M | $-7M | $-7M | $-4M | $-1M | $5M | |
| Other Non-op | $-436.0K | $76.0K | $713.0K | $-166.0K | $23.0K | $354.0K | $-5.0K | $529.0K | $491.0K | $1M | $897.0K | $223.0K | $777.0K | $282.0K | $2M | $957.0K | |
| Pretax Income | $15M | $-1M | $-3M | $-1M | $-7M | $-10M | $-6M | $-2M | $-1M | $-2M | $-4M | $-7M | $-5M | $-4M | $1M | $7M | |
| Income Tax | $2M | $430.0K | $501.0K | $504.0K | $579.0K | $74.0K | $113.0K | $626.0K | $121.0K | $274.0K | $252.0K | $-101.0K | $-139.0K | $148.0K | $-3.0K | $501.0K | |
| Net Income | $11M | $-2M | $-4M | $-2M | $-7M | $-9M | $-5M | $-3M | $-2M | $-2M | $-4M | $-6M | $-5M | $-3M | $1M | $6M | |
| EPS (Basic) | $0.18 | $-0.03 | $-0.09 | $-0.04 | $-0.16 | $-0.20 | $-0.11 | $-0.07 | $-0.04 | $-0.05 | $-0.08 | $-0.14 | $-0.12 | $-0.08 | $0.03 | $0.14 | |
| EPS (Diluted) | $0.17 | $-0.03 | $-0.09 | $-0.04 | $-0.16 | $-0.20 | $-0.11 | $-0.07 | $-0.04 | $-0.05 | $-0.08 | $-0.14 | $-0.12 | $-0.08 | $0.04 | $0.13 | |
| Shares (Basic) | 61,227,000 | 53,319,000 | · | 43,842,000 | 43,710,000 | 43,554,000 | · | 43,157,000 | 43,092,000 | 42,987,000 | · | 42,638,000 | 42,586,000 | 42,498,000 | · | 42,163,000 | |
| Shares (Diluted) | 63,474,000 | 53,319,000 | · | 43,842,000 | 43,710,000 | 43,554,000 | · | 43,157,000 | 43,092,000 | 42,987,000 | · | 42,638,000 | 42,586,000 | 42,498,000 | · | 42,982,000 | |
| EBITDA | $10M | $850.0K | · | $-1M | $-7M | $-8M | · | $-3M | $-2M | $-1M | · | $-7M | $-7M | $-2M | · | $5M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $412M | $42M | $120M | $23M | $27M | $32M | $23M | $25M | $28M | $26M | · | $29M | $30M | $35M | · | $33M | |
| Short-term Investments | $5M | $65M | · | · | · | · | · | · | $2M | $2M | · | $4M | $7M | $7M | · | $7M | |
| Receivables | $37M | $32M | $27M | $34M | $23M | $23M | $26M | $28M | $27M | $25M | · | $19M | $20M | $21M | · | $38M | |
| Inventory | $96M | $90M | $82M | $78M | $80M | $80M | $85M | $86M | $86M | $86M | · | $86M | $87M | $92M | · | $88M | |
| Prepaid Expense | $16M | $8M | $10M | $7M | $7M | $8M | $14M | $15M | $11M | $11M | · | $11M | $11M | $12M | · | $11M | |
| Current Assets | $599M | $254M | $247M | $150M | $145M | $150M | $158M | $168M | $167M | $164M | · | $160M | $165M | $177M | · | $181M | |
| PP&E (Net) | $175M | $165M | $162M | $159M | $160M | $159M | $160M | $166M | $161M | $163M | · | $159M | $159M | $163M | · | $153M | |
| Other Non-current Assets | $23M | $24M | $23M | $23M | $22M | $23M | $19M | $19M | $18M | $19M | · | $20M | $19M | $24M | · | $22M | |
| Total Assets | $1.10B | $445M | $434M | $334M | $329M | $333M | $339M | $356M | $349M | $349M | · | $342M | $346M | $367M | · | $362M | |
| Accounts Payable | $14M | $16M | $13M | $11M | $11M | $11M | $12M | $13M | $12M | $10M | · | $6M | $5M | $7M | · | $13M | |
| Accrued Liabilities | $27M | $13M | $15M | $13M | $12M | $12M | $15M | $12M | $12M | $13M | · | $16M | $17M | $13M | · | $17M | |
| Short-term Debt | $79M | $64M | $59M | $57M | $51M | $51M | $46M | $53M | $50M | $48M | · | $46M | $46M | $53M | · | $43M | |
| Current Liabilities | $126M | $98M | $91M | $85M | $80M | $75M | $74M | $79M | $75M | $72M | · | $68M | $67M | $73M | · | $73M | |
| Capital Leases | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | $2M | $1M | $1M | · | $1M | |
| Other Non-current Liabilities | $19M | $8M | $7M | $7M | $7M | $10M | $8M | $9M | $10M | $10M | · | $4M | $3M | $4M | · | $2M | |
| Total Liabilities | $145M | $108M | $99M | $94M | $88M | $87M | $84M | $89M | $86M | $84M | · | $74M | $72M | $78M | · | $76M | |
| Total Debt | $84M | $69M | · | $62M | $56M | $52M | · | $54M | $51M | $49M | · | $46M | $46M | $53M | · | $43M | |
| Common Stock | $66.0K | $56.0K | $55.0K | $46.0K | $46.0K | $46.0K | $45.0K | $45.0K | $44.0K | $44.0K | · | $44.0K | $44.0K | $44.0K | · | $43.0K | |
| Paid-in Capital | $944M | $342M | $340M | $244M | $243M | · | $242M | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $-55M | $-67M | $-65M | $-61M | $-59M | $-52M | $-44M | $-39M | $-36M | $-34M | · | $-28M | $-23M | $-18M | · | $-16M | |
| AOCI | $-5M | $-5M | $-5M | $-7M | $-7M | $-8M | $-9M | $-5M | $-8M | $-8M | · | $-9M | $-8M | $-2M | · | $-5M | |
| Stockholders' Equity | $887M | $275M | $273M | $179M | $180M | $185M | $193M | $201M | $200M | $201M | · | $204M | $210M | $220M | · | $217M | |
| Liabilities + Equity | $1.10B | $445M | $434M | $334M | $329M | $333M | $339M | $356M | $349M | $349M | · | $342M | $346M | $367M | · | $362M | |
| Shares Outstanding | 65,570,000 | 55,579,000 | 55,337,000 | 46,218,000 | 46,078,000 | 45,604,000 | 45,358,000 | 44,677,000 | 44,482,000 | 44,399,000 | · | 43,644,000 | 43,657,000 | 43,586,000 | · | 43,161,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Stock-based Comp | $762.0K | $1M | $1M | $738.0K | $633.0K | $646.0K | $753.0K | $820.0K | $715.0K | $809.0K | $822.0K | $891.0K | $912.0K | $915.0K | $745.0K | $1M | |
| Deferred Tax | · | · | $62.0K | $-13.0K | $-27.0K | $-11.0K | $225.0K | $-75.0K | $13.0K | $40.0K | $376.0K | $12.0K | $120.0K | $-10.0K | $-61.0K | $104.0K | |
| Other Non-cash | · | $-14M | · | · | · | $3M | · | · | · | $-10M | · | · | · | $-1M | · | · | |
| Operating Cash Flow | $11M | $-12M | $4M | $-9M | $-5M | $-3M | $1M | $-5M | $843.0K | $-9M | $1M | $-792.0K | $4M | $-2M | $536.0K | $-15M | |
| CapEx | $7M | $1M | $3M | $2M | $279.0K | $510.0K | $167.0K | $941.0K | $271.0K | $4M | $-703.0K | $4M | $3M | $4M | $-300.0K | $8M | |
| Investing Cash Flow | $-247M | $-67M | $-3M | $-2M | $-840.0K | $-786.0K | $-441.0K | $454.0K | $-546.0K | $-4M | $2M | $-2M | $-2M | $-713.0K | $302.0K | $-7M | |
| Debt Issued | $10M | $3M | $286.0K | $422.0K | $0 | $3M | $0 | $0 | $0 | $6M | · | · | · | · | · | · | |
| Net Debt Issued | · | $2M | · | · | · | $2M | · | · | · | $6M | · | · | · | · | · | · | |
| Financing Cash Flow | $621M | $8M | $95M | $5M | $-321.0K | $7M | $-5M | $824.0K | $2M | $2M | $6M | $573.0K | $-4M | $6M | $3M | $13M | |
| Net Change in Cash | $387M | $-70M | $97M | $-4M | $-3M | $4M | $-5M | $-3M | $2M | $-11M | $11M | $-2M | $-4M | $4M | $5M | $-8M | |
| Free Cash Flow | · | $-13M | · | · | · | $-4M | · | · | · | $-13M | · | · | · | $-5M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.9% | 29.6% | · | 22.3% | 8.0% | -6.4% | · | 24.0% | 27.4% | 26.9% | · | 10.8% | 9.2% | 26.3% | · | 42.0% | |
| Operating Margin | 21.9% | -5.9% | · | -4.0% | -37.5% | -53.1% | · | -14.4% | -6.8% | -14.8% | · | -38.7% | -36.8% | -22.9% | · | 13.0% | |
| Net Margin | 23.4% | -6.0% | · | -6.8% | -39.0% | -45.5% | · | -12.4% | -5.4% | -9.2% | · | -33.5% | -27.4% | -17.2% | · | 16.4% | |
| Pretax Margin | 31.8% | -3.9% | · | -4.2% | -39.5% | -51.4% | · | -9.6% | -3.9% | -7.8% | · | -37.5% | -29.5% | -18.1% | · | 20.5% | |
| EBITDA Margin | 21.9% | 3.2% | · | -4.0% | -37.5% | -41.6% | · | -14.4% | -6.8% | -5.1% | · | -38.7% | -36.8% | -11.9% | · | 13.0% | |
| ROA | 1.6% | -0.42% | · | -0.55% | -2.1% | -2.6% | · | -0.84% | -0.44% | -0.58% | · | -1.7% | -1.4% | -0.95% | · | 1.7% | |
| ROE | 2.1% | -0.70% | · | -1.0% | -3.7% | -4.6% | · | -1.5% | -0.74% | -0.99% | · | -2.8% | -2.4% | -1.5% | · | 2.7% | |
| ROIC | 0.92% | -0.65% | · | -0.67% | -3.1% | -4.4% | · | -1.7% | -0.84% | -1.5% | · | -2.6% | -2.6% | -1.7% | · | 1.6% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.8 | 2.6 | · | 1.8 | 1.8 | 2.0 | · | 2.1 | 2.2 | 2.3 | · | 2.4 | 2.5 | 2.4 | · | 2.5 | |
| Quick Ratio | 3.6 | 1.4 | · | 0.7 | 0.6 | 0.7 | · | 0.7 | 0.8 | 0.7 | · | 0.8 | 0.8 | 0.9 | · | 1.1 | |
| Debt / Equity | 0.1 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 0.3 | 0.2 | · | 0.3 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.3 | |
| Receivables Turnover | 1.6 | 1.0 | · | 0.9 | 0.7 | 0.8 | · | 1.0 | 1.2 | 1.0 | · | 0.6 | 0.6 | 0.6 | · | 0.9 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $13.53 | $4.95 | · | $3.88 | $3.90 | $4.06 | · | $4.49 | $4.49 | $4.53 | · | $4.68 | $4.81 | $5.05 | · | $5.03 | |
| Revenue / Share | $0.75 | $0.51 | · | $0.64 | $0.41 | $0.44 | · | $0.55 | $0.65 | $0.53 | · | $0.41 | $0.44 | $0.46 | · | $0.82 | |
| Cash Flow / Share | · | $-0.22 | · | · | · | $-0.08 | · | · | · | $-0.20 | · | · | · | $-0.04 | · | · | |
| Cash / Share | $6.29 | $0.75 | · | $0.50 | $0.59 | $0.69 | · | $0.56 | $0.63 | $0.58 | · | $0.65 | $0.69 | $0.81 | · | $0.76 | |
| EPS (TTM) | $0.01 | $-0.32 | · | $-0.51 | $-0.54 | $-0.42 | · | $-0.24 | $-0.31 | $-0.39 | · | $-0.30 | $-0.03 | $0.22 | · | $0.40 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $126M | $96M | · | $90M | $86M | $96M | · | $95M | $88M | $79M | · | $82M | $100M | $121M | · | $152M | |
| Net Income TTM | $4M | $-14M | · | $-23M | $-24M | $-18M | · | $-10M | $-13M | $-17M | · | $-13M | $-1M | $9M | · | $17M | |
| Market Cap | $4.73B | $3.17B | · | $208M | $96M | $64M | · | $108M | $150M | $204M | · | $105M | $150M | $173M | · | $289M | |
| Enterprise Value | $4.39B | $3.13B | · | $246M | $125M | $85M | · | $137M | $172M | $225M | · | $118M | $159M | $184M | · | $292M | |
| P/E | 7208.0 | -178.1 | · | -8.8 | -3.9 | -3.4 | · | -10.1 | -10.9 | -11.8 | · | -8.0 | -114.7 | 18.1 | · | 16.8 | |
| P/S | 37.7 | 33.0 | · | 2.3 | 1.1 | 0.7 | · | 1.1 | 1.7 | 2.6 | · | 1.3 | 1.5 | 1.4 | · | 1.9 | |
| P/B | 5.3 | 11.5 | · | 1.2 | 0.5 | 0.3 | · | 0.5 | 0.8 | 1.0 | · | 0.5 | 0.7 | 0.8 | · | 1.3 | |
| P / Tangible Book | 5.3 | 11.5 | · | 1.2 | 0.5 | 0.3 | · | 0.5 | 0.8 | 1.0 | · | 0.5 | 0.7 | 0.8 | · | 1.3 | |
| P / Cash Flow | · | -271.0 | · | · | · | -19.2 | · | · | · | -23.1 | · | · | · | -113.1 | · | · | |
| EV / Revenue | 35.0 | 32.6 | · | 2.7 | 1.5 | 0.9 | · | 1.4 | 1.9 | 2.8 | · | 1.4 | 1.6 | 1.5 | · | 1.9 | |
| Earnings Yield | 0.01% | -0.56% | · | -11.4% | -25.8% | -29.8% | · | -9.9% | -9.2% | -8.5% | · | -12.5% | -0.87% | 5.5% | · | 6.0% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $88M | $99M | $76M | $141M | $137M |
| Gross Margin % | 12.7% | 24.0% | 17.6% | 36.9% | 34.5% |
| Operating Margin % | -24.9% | -14.9% | -28.5% | 8.9% | 9.4% |
| Net Income | $-21M | $-12M | $-18M | $16M | $15M |
| Diluted EPS | $-0.49 | $-0.27 | $-0.42 | $0.37 | $0.34 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.2 | 0.2 | 0.3 | 0.2 | · |
| Current Ratio | 2.7 | 2.1 | 2.1 | 2.4 | 3.3 |
| Quick Ratio | 1.6 | 0.7 | 0.7 | 1.0 | 1.6 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-19M | $-18M | $-7M | $-37M | $-33M |
Institutional owners (13F) 293 filers · $4.1B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
293
Value held
$4.1B
New positions
144
Exited positions
62
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 144 (+23 vs prior Q) | 62 (+40 vs prior Q) | 81 (+40 vs prior Q) | 54 (+12 vs prior Q) | +20.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $365,607,203 | 5,072,242 | 8.82% | Shares |
| Marex Group Ltd | $256,885,624 | 3,563,896 | 6.19% | Shares |
| JANE STREET GROUP, LLC | $254,234,448 | 3,527,115 | 6.13% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $196,267,641 | 2,722,914 | 4.73% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $182,679,552 | 2,534,400 | 4.40% | Put option |
| D. E. Shaw & Co., Inc. | $162,186,127 | 2,250,085 | 3.91% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $161,199,712 | 2,236,400 | 3.89% | Call option |
| Marex Group Ltd | $144,160,000 | 2,000,000 | 3.48% | Put option |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $126,746,986 | 1,758,421 | 3.06% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $125,165,958 | 1,736,210 | 3.02% | Shares |
| STATE STREET CORP | $106,858,456 | 1,482,498 | 2.58% | Shares |
| CITADEL ADVISORS LLC | $106,774,411 | 1,481,332 | 2.57% | Shares |
| CITADEL ADVISORS LLC | $106,260,336 | 1,474,200 | 2.56% | Call option |
| Clear Street Group Inc. | $94,347,026 | 1,308,921 | 2.27% | Shares |
| Invesco Ltd. | $82,429,031 | 1,143,577 | 1.99% | Shares |
| JANE STREET GROUP, LLC | $81,745,928 | 1,134,100 | 1.97% | Put option |
| CITIGROUP INC | $76,049,734 | 1,055,074 | 1.83% | Shares |
| Assenagon Asset Management S.A. | $73,736,975 | 1,022,988 | 1.78% | Shares |
| CITADEL ADVISORS LLC | $63,329,488 | 878,600 | 1.53% | Put option |
| Point72 Asset Management, L.P. | $62,536,608 | 867,600 | 1.51% | Call option |
| JANE STREET GROUP, LLC | $61,628,400 | 855,000 | 1.49% | Call option |
| MILLENNIUM MANAGEMENT LLC | $61,579,530 | 854,322 | 1.48% | Shares |
| GOLDMAN SACHS GROUP INC | $59,073,563 | 819,556 | 1.42% | Shares |
| UBS Group AG | $47,148,752 | 654,117 | 1.14% | Shares |
| BANK OF AMERICA CORP /DE/ | $46,061,787 | 639,037 | 1.11% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $44,356,374 | 615,377 | 1.07% | Shares |
| MORGAN STANLEY | $44,111,156 | 611,974 | 1.06% | Shares |
| NORTHERN TRUST CORP | $39,528,887 | 548,403 | 0.95% | Shares |
| Fund Resources Investment Holding Group Co Ltd | $38,685,768 | 536,706 | 0.93% | Shares |
| VANGUARD GROUP INC | $34,442,157 | 2,106,554 | 0.83% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $31,130,559 | 431,889 | 0.75% | Shares |
| TWO SIGMA INVESTMENTS, LP | $28,668,523 | 397,732 | 0.69% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $27,231,464 | 377,795 | 0.66% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $25,911,391 | 359,481 | 0.62% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $25,424,346 | 352,724 | 0.61% | Shares |
| Walleye Trading LLC | $25,098,256 | 348,200 | 0.61% | Put option |
| Capital World Investors | $24,706,717 | 342,768 | 0.60% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $24,067,296 | 333,897 | 0.58% | Shares |
| Funde Sino Life Insurance Co Ltd | $23,408,052 | 324,751 | 0.56% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $22,760,000 | 315,754 | 0.55% | Shares |
| Squarepoint Ops LLC | $22,560,968 | 312,999 | 0.54% | Shares |
| Walleye Trading LLC | $16,196,376 | 224,700 | 0.39% | Call option |
| D. E. Shaw & Co., Inc. | $16,174,752 | 224,400 | 0.39% | Call option |
| D. E. Shaw & Co., Inc. | $15,835,976 | 219,700 | 0.38% | Put option |
| CANADA PENSION PLAN INVESTMENT BOARD | $14,617,824 | 202,800 | 0.35% | Shares |
| Alyeska Investment Group, L.P. | $14,416,000 | 200,000 | 0.35% | Shares |
| Bank of New York Mellon Corp | $14,095,819 | 195,558 | 0.34% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $13,528,263 | 187,684 | 0.33% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $13,459,498 | 186,730 | 0.32% | Shares |
| GROUP ONE TRADING LLC | $12,110,521 | 168,015 | 0.29% | Shares |
Company insiders 18 insiders · 11 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Morris S Young | CEO | June 12, 2026 G | 2,148,333 | 0 | 11 | $-39,414,871 |
| Philip C S Yin | Chairman & CEO | Nov. 21, 2008 P | 20,500 | 0 | 0 | $0 |
| Donald L Tatzin | Interim CEO | Aug. 13, 2004 A | · | 0 | 0 | $0 |
| Gary L Fischer | CFO | March 13, 2026 S | 191,278 | 0 | 7 | $-23,242,105 |
| Raymond Anthony Low | Chief Financial Officer | Nov. 5, 2012 A | 56,000 | 0 | 0 | $0 |
| Wilson Wai-Shun Cheung | Chief Financial Officer | Nov. 10, 2008 P | 1,000 | 0 | 0 | $0 |
| Hong Q Hou | Chief Operating Officer | Nov. 2, 2015 A | 310,000 | 0 | 0 | $0 |
| Minsheng Lin | Chief Operating Officer | Oct. 31, 2008 A | 8,000 | 0 | 0 | $0 |
| Robert G Ochrym | VP Business Development | Nov. 16, 2017 S | 10,750 | 0 | 0 | $0 |
| John J Cerilli | VP Global Sales & Marketing | Aug. 3, 2010 A | 4,400 | 0 | 0 | $0 |
| Chia Li Wei | Chief Technology Officer | Dec. 1, 2007 A | · | 0 | 0 | $0 |
| Leonard J Leblanc | Director | Aug. 7, 2026 S | 117,129 | 0 | 4 | $-636,302 |
| Jesse Chen | Director | June 15, 2026 S | 50,275 | 0 | 20 | $-10,251,898 |
| David C Chang | Director | June 15, 2026 S | 65,165 | 0 | 8 | $-5,226,630 |
| Russell Christine | Director | May 15, 2025 A | 133,370 | 0 | 0 | $0 |
| Uni-Pixel | Director | Dec. 23, 2019 A | 0 | 0 | 0 | $0 |
| Nai-Yu Pai | Director | May 13, 2014 A | 42,909 | 0 | 0 | $0 |
| Davis Zhang | · | Aug. 31, 2015 S | 202,488 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 34 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PSI · Invesco Exchange-Traded Fund Trust | 2.88% | 1,051,411 SH | Oct. 2, 2026 | Daily |
| PSCT · Invesco Exchange-Traded Fund Trust … | 2.16% | 141,956 SH | Oct. 2, 2026 | Daily |
| JSML · Janus Detroit Street Trust | 0.44% | 26,176 NS | July 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.27% | 66,846 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.27% | 586,516 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.14% | 359,465 SH | Aug. 19, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.14% | 15,987 NS | July 31, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.14% | 1,957 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.13% | 1,599,862 SH | Sept. 11, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.13% | 36,407 SH | Aug. 19, 2026 | Daily |
| ISCG · iShares Trust | 0.13% | 18,637 SH | Sept. 11, 2026 | Daily |
| TRFM · ETF Series Solutions | 0.12% | 5,002 NS | July 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.12% | 29,907 NS | July 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.06% | 411,127 SH | Aug. 19, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.05% | 686,052 SH | Aug. 19, 2026 | Daily |
| ESML · iShares Trust | 0.05% | 19,940 SH | Sept. 11, 2026 | Daily |
| WSML · iShares Trust | 0.03% | 3,570 SH | Sept. 11, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.03% | 82,711 NS | July 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.03% | 712,422 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 6,840 SH | Oct. 2, 2026 | Daily |
| IGM · iShares Trust | 0.02% | 28,125 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 1,973,842 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 5,131 SH | Aug. 19, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.01% | 2,316 SH | Oct. 2, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.01% | 11,610 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.01% | 79,025 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 16,741 SH | Sept. 11, 2026 | Daily |
| TILT · FlexShares Trust | 0.00% | 1,422 NS | July 31, 2026 | N-PORT |
| FTEC · FIDELITY COVINGTON TRUST | 0.00% | 10,721 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 897 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 4,069 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 376 NS | July 31, 2026 | N-PORT |
| VGT · VANGUARD WORLD FUND | 0.00% | 1,555 SH | Aug. 19, 2026 | Daily |
| ISCB · iShares Trust | · | 2,678 SH | Sept. 11, 2026 | Daily |
AXTI Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 11 analysts
BUY
Median target
$93.00
+8.3%
3 27.3%
Strong Buy
6 54.5%
Buy
2 18.2%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
5 analysts · 2026-10-01Mean target $91.60 +6.7%
Now
Current price $85.87
Low$55.00
Mean$91.60
High$125.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AXTI | $905M | -33.4 | -11.1% | -24.1% | -9.1% | 12.7% |
| MKSI | $10.74B | 36.6 | 9.6% | 7.5% | 11.2% | 46.7% |
| ONTO | $8.24B | 59.7 | 1.8% | 13.6% | 6.7% | 49.7% |
| AMKR | $9.76B | 26.3 | 6.2% | 5.6% | 8.7% | 14.0% |
| FORM | $4.51B | 84.1 | 2.8% | 6.9% | 5.4% | 39.3% |
| ACMR | · | 28.8 | 15.2% | 10.4% | 7.9% | 44.4% |
| ACLS | $2.47B | 21.1 | -17.6% | 14.3% | 11.7% | 44.9% |
| ENPH | $4.20B | 24.8 | 10.7% | 11.7% | 17.9% | 46.6% |
| UCTT | $1.18B | -6.5 | -2.1% | -8.8% | -22.9% | 15.7% |
| VECO | $1.73B | 48.4 | -7.4% | 5.3% | 4.1% | 40.0% |
| AEHR | $3.00B | -401.4 | -15.2% | -14.2% | -4.1% | 35.3% |
Latest News Recent headlines mentioning this company
AXT Inc. (AXTI) Climbs 10% Ahead of Business Updates
Yahoo Finance · 3 months, 2 weeks ago
AXT Inc. (AXTI) Gets 8.8% Jump from AI Optimism
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This Hidden AI Stock Up 5,100% While Bitcoin and Ethereum Lost Nearly 40%
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AXT Inc. (AXTI) Climbs to All-Time High Ahead of Investor Meeting
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AXT Inc. (AXTI) on All-Time High Ahead of Earnings Outcome on Thursday
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AXT Inc. (AXTI) Revenues Climb on AI Demand, Shares Hit Fresh High
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This Obscure AI Stock Is Up by Almost 6,000% Over the Past Year. Can It Go Higher?
Nasdaq · 5 months ago
AXT Inc. (AXTI) Earnings in Focus, Stock Hits All-Time High
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Source: SEC 10-Q filed Aug 13, 2026