AXT (AXTI) Q2 FY26 earnings call

AXT achieved record revenue in Q2 FY26, driven by unprecedented demand for indium phosphide in AI data center applications, leading to a significant return to profitability. The company is aggressively expanding indium phosphide capacity, with plans to more than triple by year-end and double again in 2027, though demand continues to outpace supply. The IPO plan for its Tongmei subsidiary has shifted to the Hong Kong Exchange.