All three tenses have at least two readings, so the archetype blend applies as printed.
Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.
What did they actually do?
Has it survived what it has been through?
4 warning events since 2017; the latest 2026-07-08.
From the record
AXT Inc's filings since 2017 show 4 warning events of 2 kinds: a debt default or acceleration notice (8-K item 2.04, the latest 2026-07-08); a notice about its exchange listing (8-K item 3.01, 3 times, the latest 2025-07-24) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
+0.9% a year over 10 filed years; profitable in 6 of 10.
From the record
AXT Inc's 10 filed years say what it did: revenue went from $81 million in fiscal 2016 to $88 million in fiscal 2025, up 0.9% a year; it rose in 6 of 9 years; the deepest fall was 46% from fiscal 2022 to fiscal 2023; net income was positive in 6 of 10 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
SI estimate 4.8/10, confidence 35 of 100 (one part).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: AXT Inc's shareholder treatment is put at 4.8 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 48% of 94 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.
What are they doing right now?
Is it financially healthy right now?
ROE -7%: lost 7¢ per shareholder dollar. Leverage 32%: owes 32¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-12-31, AXT Inc lost about 7 cents for every dollar of shareholders' money, and gross profitability: its products earned about 3 cents per dollar of everything the company owns. Leverage: it owed about 32 cents per dollar of assets, and net share issuance: its share count grew 1.8% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
bottom 23% of 97 in its family; net margin -24.1%.
From the record
AXT Inc's standing among 97 graded names in its industry family: revenue of $88 million in fiscal 2025 ranks in the bottom 27% by size; a net margin of -24.1% ranks in the bottom 28%; revenue growth of -14.5% a year over the last 3 filed years ranks in the bottom 13% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
top 32% of 67 in its family for leadership; chief executive since 2014.
From the record
AXT Inc's leadership, from its insiders' filings and its current reports: the chief executive on the record is Young, Morris S (CEO, as filed), filing under that title since 2014-07-08, 12.4 years (top 13% of its family); the 7 officers and directors filing in the last fifteen months have been on the record a median of 19.5 years (top 1%); 6 officer or director changes were reported on Form 8-K since 2023-11-13, against the 7 people in charge now (bottom 19%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
bottom 37% of 94 in its family for room to expand.
From the record
AXT Inc's room to grow, from the newest filed statements (fiscal 2025): cash of $120 million against no long-term debt tagged leaves 27.7% of its assets as net cash, top 21% of its family; cash from operations less capital spending is -21.3% of revenue (bottom 26%); a gross margin of 12.7% (bottom 13%); research spending of 10.2% of revenue (bottom 29%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
bottom 12% of 93 in its family for growth drivers.
From the record
AXT Inc's growth drivers, from the filed years to fiscal 2025: revenue grew -14.5% a year over the last three filed years against 0.9% over all 10, slowing (bottom 22% of its family); the newest year grew -11.1% (bottom 12%); research spending grew -13.4% a year (bottom 8%); capital spending grew -40.5% a year (bottom 7%) (its annual reports). AXT Inc tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
bottom 20% of 88 in its family for expectations against reality.
From the record
AXT Inc's newest year against its own record: revenue of $88 million in fiscal 2025 came in 5.9% above the $83 million its prior three years' pace pointed to (bottom 38% of its family); net income of $21 million against a prior three-year average of $5 million (bottom 6%); a net margin of -24.1% against -8% before (bottom 16%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made