AXT, Inc. (NASDAQ: AXTI) reported better-than-expected fourth-quarter sales on Thursday.
Revenue of $20.4 million beat the consensus of $17.6 million. Revenue was $17.4 million in the third quarter of 2023 and $26.8 million in the last quarter of 2022, according to data from Benzinga Pro.
Adjusted operating expenses declined to $7.5 million from $9.0 million the prior year. The company reported an adjusted operating loss of $(2.7) million, which widened from $(0.3) a prior year quarter.
Morris Young, chief executive officer said, “We believe that the trends that have driven our revenue …