AXT, Inc. (AXTI) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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AXTI Revenue Growth
Revenue Breakdown (FY 2025)
AXTI's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
AXTI Revenue Analysis (2014–2025)
As of May 6, 2026, AXT, Inc. (AXTI) generated trailing twelve-month (TTM) revenue of $88.3 million, reflecting moderate decline in growth of -8.2% year-over-year. The most recent quarter (Q4 2025) recorded $23.0 million in revenue, down 17.6% sequentially.
Looking at the longer-term picture, AXTI's 5-year compound annual growth rate (CAGR) stands at -1.5%, indicating revenue contraction over this period. The company achieved its highest annual revenue of $141.1 million in 2022.
Revenue diversification analysis shows AXTI's business is primarily driven by Substrates (67%), and Raw Materials and Other (33%). With over half of revenue concentrated in Substrates, the company maintains significant focus in this area while developing other growth vectors.
When compared to Technology sector peers including COHU (+23.1% YoY), MTSI (+26.0% YoY), and SWKS (+2.3% YoY), AXTI has underperformed the peer group in terms of revenue growth. Compare AXTI vs COHU →
AXTI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| AXTICurrent | $88M | -8.2% | -1.5% | -24.9% | |
 COHU | $453M | +23.1% | -6.6% | -13.3% | |
 MTSI | $967M | +26.0% | +12.8% | 13.4% | |
 SWKS | $4.1B | +2.3% | +4.0% | 12.2% | |
 QRVO | $3.7B | -1.1% | -1.7% | 11.2% | |
 LITE | $1.6B | +52.1% | -0.4% | -10.9% |
AXTI Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $88.3M | -11.1% | $11.2M | 12.7% | $-21,976,000 | -24.9% |
| 2024 | $99.4M | +31.1% | $23.8M | 24.0% | $-14,803,000 | -14.9% |
| 2023 | $75.8M | -46.3% | $13.3M | 17.6% | $-21,569,000 | -28.5% |
| 2022 | $141.1M | +2.7% | $52.1M | 36.9% | $12.6M | 8.9% |
| 2021 | $137.4M | +44.1% | $47.4M | 34.5% | $12.9M | 9.4% |
| 2020 | $95.4M | +14.5% | $30.3M | 31.7% | $3.9M | 4.1% |
| 2019 | $83.3M | -18.7% | $24.8M | 29.8% | $-314,000 | -0.4% |
| 2018 | $102.4M | +3.8% | $37.0M | 36.2% | $12.1M | 11.9% |
| 2017 | $98.7M | +21.3% | $34.5M | 34.9% | $12.6M | 12.8% |
| 2016 | $81.3M | +5.0% | $26.4M | 32.4% | $6.4M | 7.9% |
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Start ComparisonAXTI — Frequently Asked Questions
Quick answers to the most common questions about buying AXTI stock.
Is AXTI's revenue growth accelerating or slowing?
AXTI revenue declined -8.2% year-over-year, contrasting with the 5-year CAGR of -1.5%. TTM revenue fell to $88M. This reverses the prior growth trend.
What is AXTI's long-term revenue growth rate?
AXT, Inc.'s 5-year revenue CAGR of -1.5% reflects the variable expansion pattern. Current YoY growth of -8.2% is below this long-term average.
How is AXTI's revenue distributed by segment?
AXTI reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.