AXT, Inc. (AXTI) Q3 FY2026 Earnings Overview: Record Revenue and Strong Q4 Outlook Fail to Prevent 9.56% Decline
AXT reported Q3 FY2026 record revenue of $73.4 million, above the $66.0 million consensus, as gross margin reached 56.0%. This analysis examines indium phosphide demand, Q4 permit-dependent sales and earnings guidance, and whether expanding capacity can convert orders into profitable shipments.