AXT returns to profit, driven by record quarterly revenue from InP

For second-quarter 2026, AXT Inc of Fremont, CA, USA — which makes gallium arsenide (GaAs), indium phosphide (InP) and germanium (Ge) substrates and raw materials at plants in China — has reported record revenue of $47.6m (up 77% on $26.9m last quarter and 164% on $18m a year ago), greatly exceeding the expected $34m...