On August 10, AXT Inc rose 5.68% overnight, trading at $93.61 per share, with turnover of $1.3904 million. The stock continues its rebound trajectory after consecutive sessions of sharp profit-taking declines.

The rally is underpinned by the company's Q2 earnings report, which massively exceeded expectations. Revenue came in at $47.6 million versus the consensus estimate of $34.1 million, representing a 165% year-over-year increase. Adjusted EPS of $0.19 beat the $0.07 estimate by 171%. Indium phosphide substrate revenue reached a record $30.7 million in the quarter, with management characterizing Q2 as a business inflection point rather than a one-quarter step-up. Adjusted gross margin expanded to 45.0% from 8.2% a year earlier.

Additionally, the company secured long-term supply agreements with Coherent and Lumentum, pushing InP backlog orders above $100 million. Wedbush maintained its outperform rating, noting AI-driven data center demand remains in the early innings. These structural catalysts continue to support the ongoing oversold recovery.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)