【US Stock Movement】AXT surges on September 29: Lumentum secures orders + rising InP demand

AXT September 29 Significant Surge Interpretation

Keywords: Lumentum order lock-in, InP demand

1. On July 26, AXT signed a six-year InP wafer supply and capacity reservation agreement with Lumentum. Lumentum paid an initial deposit of $43.5 million and committed to a minimum annual purchase volume; the deposit is deductible against product shipments, and the agreement may be renewed for one-year terms.

2. On June 30, AXT reported quarterly revenue of $47.59 million, compared to $17.97 million in the same period last year; net profit was $13.03 million, compared to a net loss of $7.67 million in the same period last year. Gross margin expanded to 44.9%, and InP revenue hit a quarterly record high.

3. In the second quarter of 2026, AXT’s substrate revenue increased by 232.7% year-on-year, mainly driven by higher demand for InP wafer substrates from data center applications. The company’s main business is high-performance compound and elemental semiconductor substrates, including products such as InP, GaAs, and Ge.

(Disclaimer: This content is generated by AI technology collecting and summarizing public information, for reference only and does not constitute investment advice.)