AXTI - Earnings call 3 2022

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Operator

Good afternoon, everyone, and welcome to AXT's Third Quarter 2022 Financial Conference Call. Leading the call today is Dr. Morris Young, Chief Executive Officer; and Gary Fischer, Chief Financial Officer. My name is Andrea, and I will be your coordinator today. [Operator Instructions] Please be advised that today's conference is being recorded.

to for conference AXT. like Green, to now Relations Investor would hand over the Leslie I Please ahead. go

Leslie Green

Thank you, Andrea, and good afternoon, everyone.

timing or of and company's chain customers of other regulations tariffs our disease, and differ and contagious the Before are expected risks remind and future their current of conditions or cause you to that forward-looking statements this would events management's financial will owned such provide chips like performance or the as uncertainties questions, by based among of company safety potential These products, companies, not risks COVID-XX mix; growth our partially costs on performance wish emerging trade utilize make in sales future to yields using for global chemical the and outbreaks I market trends as expectations markets in quarters, orders China, devices applications you environmental deal competes, actual comments with market manufacturing and supply of other substrates; or response fabricated in including to the include, and and conference we we products. conditions uncertainties, course market statements call, restrictions, economic other we the global control acceptance and our our in in in your subject manufacturing uncertainties including that regarding, in but industry the regulations on capacity, on company; projections product impact the our events to results that and serve; including could begin, and increased conditions during and political and to made well to, to to things, increase improve conditions, of efficiencies, and are our expenses, the limited materially. financial to ability are China restrictions. We trade tariffs caution growing to overall which and health demand succeeding delays financial environmental, the the the

that online like website addition In the to available with and These discussed Commission. company's link are filed call, Exchange be the portion reporting that from October over the cause our is a we review on at a want may on you by the Securities turn at information in to to axt.com. I begin, materially of website actual quarter call and Relations additional would issued call periodic shortly before XX, through risk available This results. available factors information today, on for be the the that third Gary of our Fischer refer now axt.com reports to contain from our quarter to this note could differ third expectations. This current Investor Gary? factors results our for we press of I financial our to the will release conference we website XXXX. Also of results market following close XXXX.

Gary Fischer

in from in and 'XX phosphide product million quarter the from afternoon in million our slowdown XXXX reflects from million, down it's indium up $XX.X third the year. about QX $X.X was last Leslie, at was That's by and to category, million $XX.X everyone. you, revenue the quarter QX million, down the XXXX good of and down you million. third from arsenide break the for Thank marketplace. overall for To came XXXX, gallium quarter second of Revenue by in of $XX.X $XX.X $X

$X.X were substrate Germanium million.

issue due quarter. by down we to million was revenue described from this of QX. substrate the last part about germanium $X.X we payment and observed is slowdown the Part is Our general

situation We in expect near to that the resolve future.

shipping we not question. customers today, in to the of are As

was the venture XXXX, third companies from was XX%. consolidated revenue revenue X Asia XX%, revenue in XX.X% X approximately QX million. of Europe from and X XX.X% generated material joint was is of total XXXX and XX% XX.X% North third In quarter margin of XX% XX%, in customer Top the QX America the over level. Non-GAAP gross QX with of the compared XXXX. $X.X customers raw Finally, in in Pacific was quarter

QX who track of GAAP prefer in XX.X% to those a with gross results margin XX.X% QX the was compared third year. last For on in basis, quarter XX.X% in and

our see, $X.X favorable and with of As expense This in indium program, well $X.X contributed compared on in expenses all was improved Despite million yields QX in compares XXXX volumes $XX.X gross to continue execute in with was you new $XX.X product phosphide operating total strong non-GAAP we can recycling million margin. lower and operating mix, to quarter. a last results. Total was of GAAP $X.X million basis, in QX million QX million. On XXXX. QX, QX

compared XXXX of QX with in For in QX profit was non-GAAP million operating quarter $X.X comparison, for operating total third QX GAAP XXXX. Non-GAAP XXXX. million of and was million of in of XXXX $X.X expense of operating million the $X.X $X.X profit

For gain unconsolidated QX other $X.X reference, includes a million companies. QX $X.X raw operating of an compared third of for XXXX, XX. Nonoperating of profit the GAAP material of of from quarter an $X.X the XXXX XXXX expense million. and was net million was gain third and of of profit of income operating the a operating million This profit $X.X quarter in $X.X with for million in

release. The full breakdown is in our press

$X.X investments XX. June is XXXX, XXXX per million net XX, with average million. and XX.X Cash, By the per second or GAAP was million. $XX.X were was $XX.X as was was cash capital second For $X.XX facilities-related. Stock $X.X the share This of $X.X or QX By million equivalents Most $X.X share. was the QX net XXXX QX of XXXX. is $X.XX were the $X.X non-GAAP income Non-GAAP million X%. or at in of million. Net XX% in $X.X million, of materials, $X XX% of investments financial XX September inventory $X.X at share in Depreciation per in $X.XX the $X.XX quarter and outstanding WIP, shares income income raw or million. makes share QX share. was quarter $XX.X we finished QX and third of XXXX. The net comparison, inventory less and of our $X.XX compared or of net was a and than $X.X $X.XX or of share million per it in is amortization discussion weighted in million On diluted of concludes comparison this quarter September per good comp million million basis, was income million results. quarterly a per had in

our in a on just China Market brief STAR our in Tongmei, list Shanghai, let Turning subsidiary, the plan me update. to to give you

July the our As Regulatory CSRC in August in for and the then IPO step the approved China Stock Securities Exchange was Shanghai by previously often, next reported, in submitted as Commission, the we refer review to application to the was that process.

CSRC remain This questions had of XXXX. QX and very optimistic. process, to were get still and feedback enthusiastic from questions, normal form long CSRC accomplish have as hope been We approval in customary. advisers to soon believe as the we offering the has the We but and and a early our Tongmei the has

plan the of summary and the our brief a posted have process website. on We

to China, since to have I over to restrictions topic the of Morris, moment I turn some you call a take asked. with want the address of Before control export

and restrictions new experts. the studied extensively our legal guidance including have with consultation We

concluded attorneys our or and that not applicable we manufacturing experience to such, restrictions new our process. result. disruption to do As the as products, not have are We equipment expect a

there review now. of right Young for let the over to call that, our in me turn markets. Morris and Dr. with Okay, and been Morris is has China business

So he early ahead. got the in up morning is morning the Morris, go early and it very still in there.

Morris Young

Though things. of driven results macro our Thank our the growth our trajectory, reset trends you, key that Despite expansion very environment Gary revenue, much a and, the afternoon, setback, well, good QX have application demonstrate customer several intact. the remain softening everybody.

First, becoming expanding technology. an increasingly material and strategic landscape across the of indium is phosphide

point. discerning all of the in margin is our Even companies baseline are business, we, The And softer Second, world. These third, X is and importantly, continued AXT driving underscores make leader. supporting factors our the lifting has AXT of environment, time in most the sustainable of successfully Tier firm as meaningful has gross driving performance. opportunity. requirements confidence our a the of in for created demand expansion we reached quality our the that some technical to X we more turning a is business positioned applications materials innovation that solidly progress

our a to competitors phosphide. Our of in is product evidenced for market share technical match, capability is quality increasingly gains have as by and difficult that our excellence indium created standard

applications consumer our indium with results, contributed driving phosphide into This is over QX to and QX expectations the revenue. high a over quarterly coming quarter. XXXX, line set QX XX% with increase a growth to our meaningfully XX% of in the also ramp new X of grew Our our revenue that

to towards came other of rapid QX, is in the of and as better demand, we FY particularly not meaningful both customers an is in data applications in orders. Much for or demand the could PON orders. China. by in the future the seeing sensor the than steep As the within they future environment shipping audio were wireless a The are telecommunication automotive a issue not for is weakness this high-end a is in commonly, production quarter. we into shortage XXXX, of mentioned the be proximity orders. We're the arsenide. this previously, picture shutdown confident improvement result in supply QX see strong Industrial cases, weaker half customer resulting was devices chain, other result We're in the expected weather-related relatively We COVID may supply but in offset the get all share into placing chain. related shortfall also way. environment 'XX. are quality. The of sensor of in from moderately in within and center LEDs delaying with persisting down the this drop we cases, into applications [indiscernible] revenue of handsets. supply lasers, for In the consumer canceling to demand. a Where conservatism quick in in recovery is majority a In loss and decline because the second it performance More going handset through market and second applications, first market The coupled gallium this China. was in

our continue new development gallium indium substrates We is would promising. in cases not LED bit in A revenue and fiscal exciting applications see monitoring. including out, surprised increasingly the coming be further use FY more noticeable 'XX. we care micro and believe new focused note that important consumer health on growing for year, of arsenide. that in to are applications It work to also to will meaningful highly Customers new contribute see We happening are a some for innovation. to phosphide both amount this

In in and with our the own material. pleased innovation, terms are progress of X-inch gallium indium we arsenide I'm X-inch making both phosphide

allowing we production. Our the R&D moves this when that meet are closer to market us ready are the larger ensure investments to application diameter to for

Finally, revenue in from our about $X.X X were QX. joint million ventures consolidated

to down crucibles new We when environment, well QX, is sales we environment a in are despite phosphide, weather some as they closing, result that indium pBN the JinMei. progress expect customer the are and to of company the bring bringing Tier-X remain Today, the setback BoYu, softness. in weaker from have to raw down, we That to enormous prices to ongoing the we leader of our are in positioned made and we a makes softer is coming market. likely steady. In world demand mostly and customers business, conservatism. near-term who innovation come are material

capability We our are technical our competitors. Further, profitability. have solid the on our our to worked raise as with and creating continue differentiation efficiency. result, we quality, And hard clear to we a improve delivering bar

business to fourth quarter transform coming of materials. I diligently the call environment because on though leading turn what quarters, are Gary And eyes trend will the will to that these AXT of the And technology continue landscape supplier guidance. do the now for the Gary? many are will our it through it, of will we back be the massive will. away. the our not horizon, Over will our going manage

Gary Fischer

which you, we will said, Thank that expect million, the quarter. inventory be our corrections between reflects $XX Mr. during view That the revenue QX continue to $XX Morris. and million

count net be range to net in we will the profit and expect of Share range in non-GAAP million As GAAP $X.XX be of approximately the XX.X $X.XX, such, will shares. to profit will $X.XX be $X.XX. our

our prepared Q&A. comments. questions answer This be now. I Morris glad and concludes please Andrea, go your will to to

Operator

Company. & comes with Needham [Operator Instructions] from Our Charles first Shi question

Yu Shi

what a about your 'XX, reconcile and fiber are similar business Taiwan. 'XX, heard think trend them. it you fourth is the we the 'XX. know year, Maybe to [ growth seems particular your I bullish quarter company first #X will correction be going year said China how will the ] are next rollout for customer, but quite on recently the XG question. What Epihouse into in they datacom ask that want to thought, they and and like from #X 'XX and own you telecom into your customer your as the seeing a side? continue especially I That

Morris Young

Let me first, Gary. this take Yes, Charles.

I going grow, continue. continue the growing to think, indeed, is our think I product indium trend telecom, grow, be new of I hopefully, And taking going new you I consumer going although going it's dip, to we growth, X growth in think, as think, QX to is because I a to I not think X accelerating datacom more think product, will is think XXXX. be applications, or consumer indium-phosphide we're know, also continue could a pick is only only But not quite which, to the to phosphide but up product. slight

Gary Fischer

expect is Yes. needs. we And customer we particular ours. a of to that feel very them, with their that, I'll add serve strong continue company to long-term and

Yu Shi

Got it.

question So opportunity one for total the you -- the smartphone is What's what's revenue size you? consumer business. to revenue of the -- second application? second this tells have, opportunity the What the cycle? the seeing to you're the customer the total already maybe end How current the consumer

the hear, continue, kind And do make has And fast wonder can will consumer me change over how that I guide application of a the any bit weeks to of wonder in a QX. of changes months? the forecast Because you but whether down that the they you QX did you see little recent your of trend quite said I to or be by that phosphide in terms provided lot. ramp you growth indium second

Morris Young

down. in are Yes. I the datacom, what particular demand customers, is for indium doing. QX. et demand could I don't cetera. not the think we mainly exactly the there's But slowing definitely other customer our they product which know consumer PONs be from It don't it in market, China a unfortunately, slowdown believe downtick on be second the phosphide slight this could

of products using may they going first I And fact, their In the this ] the market if they're on it they're PON add, [ the think year. launch spectrum in I hopefully, only are on, offering. of in high that end later to use whole

expect So on product is to second this we do next the the up year. go going demand for perhaps product --

Yu Shi

Yes.

indium the my when are maybe high you're completely end. you the talk consumer different you optimistic but -- X it's applications application is product, into there? something question. mid- to X third accounted to So about as a proliferation low-end or their in of the But last the considered consumer going clarify more to Is that's talking be probably to market that about -- clarify, applications. Does just phosphide-based more the sensor this

Morris Young

up win. applications. X No, possibly but going year haven't probably early this that's not But to We about a considered think how we pick demand, new terms or I'm we to customer much they us the of can talked consumer new more next too for talking increase want in demand. to yet X prepare, is because product that's the

this, least new know up they As going queue, where not we to sort shaping with you especially introduce of world the this at economy sure, product. X are the are in that but we have products like

Operator

Capital Shannon question Group. with next Richard Our Craig-Hallum from

Richard Shannon

specifically this here. guidance on quarter me Let ask the fourth very

great, that arsenide The of than down Gary, at a a would bit delineate are closely, here is midpoint and down But kind bit. phosphide raw more the number overall maybe, Can be obviously please. about more relative down you You delineate more doing gallium to that you than XX%. they're the midpoint? assuming that I'm talked little other little how indium average. categories, materials a if maybe could

Gary Fischer

first Yes. Well, of be we're trying to conservative, all.

But think Secondly, back to on QX. to or when don't market in about going business, the this thinks in back. bounce anyone we're tech going the bounce it's I is uncertain call

of So -- raw drop a in down, be a materials. products the so big therefore, big we -- forecasted to all and

about million. has material XX%. least raw at alone down So be been $X That running will

I and it's slowdown -- of think So just the reflective overall in markets. the

it So as can't on We but our team, summer. we'll it we back. the up, thing closer rapid dramatic, was said be And bounce what QX And it is whole But for because to I it's in marketplace. good during it say, know wouldn't is. Hopefully, it very I will a we're to us, growing to shifted be a it change know will sure. don't get we when before the shift have QX. overnight,

Morris Young

is want EBD to to very market remains our to responsiveness. think factories losing I now ] strengths, I adding and we Gary, important the Yes. with future capacity, don't that add point underlying underline. new are [ solid our low share, And that's

be [indiscernible] customer. didn't As very our see they We you lose a successfully. can marks will demanding most ramped to that production our making really good stride. And are new up I consumer We second product. think

And and for use And through, they when when everybody at thing unfortunately our worried so the people scarce us. industry, about is wants mean there's a are think time I inventory. better cyclical, recession but we stronger in semiconductor any buy their we to or are a supply, coming lot. same

take a not going and to from built buy going customers. we or some we're quarter X see our to to You down us then it's inventory, it bring

of the say. I business, the would So nature

Richard Shannon

quarter about the most fourth fair. the -- want then margin. is My question about second talk year. both very gross of into third the kind That's I and to view on

fairly being gross important in margins. of the past you've So about indicator talked a volume

the best do that indium quarter things shortfall your obviously had that can there you've those So And you? to delineate recycling helping on you are such can drivers a legs other are is on? in help yield margin ever. there helps a have gross phosphide you improved or in any Maybe mix lot. as Clearly, here you that anything more grow third

gross -- And at with lower Can we look out think us you and how see particularly pay the quarters do forward think can gross that where we do in quarter? us you revenue you then much with the help about here? range? about how about think margin back similar we look in the Gary, volumes, as Or here, fourth margins help

Gary Fischer

dials Sure. our for Yes. or model, of And dial. the say single it usually first the one one factor. it's way thing mix like big is as product one Well, gross improving. that makes the business company down. to I instead when operates, to that of thing gross that's key swing not clearly, mind we margin margins several comes small the But refer is why a up --

Another of in that where, financially, and was in a contributed QX QX. early described say, was did test would of -- production developed was a production That general little has level And is in recycling it QX, again, in in program, fact, I in result a QX. are in than little year. this it Then, more QX production beta a we and would bit as this scraps process. I year the level -- what QX call, to indium new reclaim way we before, certain in, phosphide last year last

good ESG we're concepts the some stuff. of also So for for kinds margin. learning gross that to that's recycle how good of It's

the we're team. strengths, a more I our seeing a we're yields about And talked that Morris our generally So -- improved. in efficiencies. is good factor really general, manufacturing team really think and third had we've is

of direction. That quarter of I've sites. And -- a think be and pointing numbers stable. often. for north, a in QX, going the positive that seemed be improving And phrase straight through we to process new That's had efficiencies we're before more the It's we've at I to it you in helping the it's very I think that. lot So with the yields. about settling some used doesn't where that a is been in happen the a

it case, helpful. every sometimes this pointing be number And But was south. in the board could on

So will -- GAAP and basis, be that a XX%. us, on enable to at

forward. secondly, So do see then, going what I Richard,

more both the I and gain think and on to yields have some things manufacturing on we all described. on I ground efficiencies, just mix

recycling at the I I our be and either -- had not next And them to other XX% yet, do And think it's some with next because the have things I or are have -- in margin think, achievable. gross we QX, And can going keep margin being now, XX somewhere percent ideas we I really lower. for ready in to to some this gross taken that with implemented you is a the relatively will share We ideas look haven't some I -- year. we is be not that for going volume confidence XX% I us do guys haven't say with help good can yet, year. range have we're that competitors. it But some to it the say, other that high. Yes, to and

question, next So Richard?

Richard Shannon

reported a Is customer. new a in as customer you've this a one had XX% the or past? XX% You

Gary Fischer

we've we the they'll touched consumer on. be had could They servicing before. are application It's XX%, going that forward strong. that continue we expect be to And they one

So...

Operator

[Operator from Instructions] BWS Financial. from Our next Khorsand question Hamed comes

Hamed Khorsand

adjust given are are and the for free been My increasing question inventory quite flow? And but first some bit adjusting revenue, the that you a decline how going your in to you to was, generate how has business cash now?

Gary Fischer

inventory we're you all, very Well, assure then because we're first the pretty of evolved shifted to It and we're with hard really happened I dramatically. keep inventory. deliberately aware can to what's demand building things up of that running -- and let me

we're aware it. So but of very --

out -- is XX% of raw XX% our is materials, WIP. Let now, in it me that again point right and if inventory

bring a write the to is finished it X% to we only worried way not already in monitor I've teammates sort been to that. having communicating And which if we're ] So the team anything inventory about you of to one, will, with like have goods. I'm down, China Number down SWOT going [ inventory or and things. my closely. forming several is will,

we will we -- but much, stop it cash, purchasing much help and yes. next it down bring couple over course, can quarters, too Of think have on will I now. And the because of we as

our what So in mirroring They're stopped trying seen inventories so And same to customers. in manage we've -- we're unfortunately, buying their position. I the own think we're much. also, they actually as

So -- but We've we're about it. on talking been definitely it.

not these rodeo. it's And before. There's a to situations first want been that you I've saying in change my I it. use if is, measure something,

So I'm different communicate ways at team to measure to different attention. and things in the everybody's inventory that and looking the get

So feel back down. it achievable I goal to it's an bring

Hamed Khorsand

how I'm Okay. also, I sale you mean month guiding XX% to were or are of adjusting is get XX% this the in environment? than in in realm now. trying QX, to more something -- you Because revenue doing per what to you're what to

putting are people quite how doing just Are you of make. have manufacturing or adjustment bit there? leave that's on you So to you an the a

Gary Fischer

not leave. would start jettisoning on people either, but to the midterm be our we hiring if putting future anybody not employees. We're in it We're detrimental think I

the come when does, we're expect ready. we to going So market to And back. be going it is

can do will expenses. And we We'll in improve that powder trim try business. the of but a we things -- the have and So of lot on to manage meantime, dry we efficiencies.

So should we going this do we're layoffs, but considered, point, -- but we've to. -- at no,

Morris Young

Yes.

you lot forfeit to asking as and the a we is, very doing busy that are overtime of during vacations, take obviously people we their things et know the time, cetera. of were One

a in slower now we're So time.

them expected still year. phosphide, on future and capacity as to any next of arsenide But people still are busy. time vacation we leave -- segments encourage much also to the as shift quite take slower We're possible. because increase We as that's gallium part any either building in germanium. them the indium do for and We demand such working their

for run high next to the up demand ready So the later.

Hamed Khorsand

is, how now? you would last the that business in describe you And my the question clarity have right

Gary Fischer

future? the You mean the in about marketplace

Morris Young

down, segments, market can. as I we're is Yes. the of but think we as a I lot Customers is In we there. losing covering but we strong, as are demand clear share. said, mean don't certain still we're market although business. all are

XX%. And instance, of happy nobody who see price is buy be other that guided erosion. to and I could -- the part it think gallium. on came another For much. JinMei, down, going But so going one forward sell of revenue everybody sells down XX% hand, our very gallium is mean, well I joint gallium the gallium. venture, They still and price almost it's going maybe down our

So the low, revenue all, if down. is first of then comes their gallium price

So to revenue when but hey, we report down revenue material price do raw part -- really is revenue the much, in so because coming because that up, nothing of really clear, to has with everybody, our is of are are was going we clear to increase up.

to because So JinMei's business, in the this is we're we us, coming it purity. hurt refining down high on other doesn't side. it -- But

it's our it people step business. And -- add don't to so terms they to going don't want on to and want it when is prices also hurt doesn't down, really in further. because buy, -- down of And go into

busy and X-inch of is doing on R&D a -- development. busy X-inch high. arsenide very gallium team of process the bring I down far for preparing inflation, later? as have the bit, so holding hard still also as our don't buy up why we working very So is we're and factory, We're a phosphide rest to working think But IPO indium spirit speak. to heads the are we this And So quite maybe a work. I month think I the lot and

Operator

comes question Craig-Hallum with Richard next Capital Our from Group. Shannon

Richard Shannon

questions. I guess X

greenlight what in that where there, far up probably some of what up know in about or Morris, get is place something have you're have you advance And calendar give before nicely to year? How imagine if customers? my on this First a some that picks 'XX. all, build you a do capacity your more us more you talked detail it scenario about and need capacity. LED in picks Can you such you in to for could hearing you with and micro you engaged understanding you're

Morris Young

Yes.

optimistic, more it's because increasingly we're think up I nicely. shaping

-- I large pick curve seeing of the in a is all making the ramp Malaysia. as volume it. factory really to know, them indeed, in their gradual. And demand you And customers one the start the preparation very commitment. is down demand building we are we for in are And and making are up think so yes, XXXX,

we I some the wafer XXX think next customers it. And delivering to in per by samples to already are and already month it's they going of start our evaluating performance some year. are

I specification want. tweak they us, we expect capacity two build some for take between increasing new us that expected that And And to deliver mean, customer indeed, it time the of demand. the factory the our to would to a and us

are we to XX,XXX it, months it next or expect wafer close able expect year. which we month wafer in we it is to be increase X,XXX some the a on further of to neighborhood And working So to to a XXXX. early and of in middle deliver XX,XXX

Richard Shannon

follow-up Okay. you that to X-inch topic, Perfect. a with expect quick that intersect And Morris. on opportunity? wafers just When do your

Morris Young

X-inch, I building for that numbers yes. are X-inch capacity mean? the you do wafers. The we What were mean

Richard Shannon

last question here on Okay. phosphide. Perfect. My indium is second and

year? utilization to the application Where of of in near do volume or or positive bit you've to while You terms in comments more the in revenues next sit a talked be about quarter, in capacity? need And fourth applications the you additional got about term tight in capacity consumer current seemed you your new going little some here. space. And do down build

Morris Young

a is to breather. is maybe still tight. going And little fairly This us give Yes. QX

wanted expect of could for be capacity in mean because the building own in is up least usually don't say I our these notice. But advance gallium really as the them, time pilot get complicated. X to tap to next We customers a asking them, I but doing at it's initiatives to close to whether I of of We we successfully customers going give for anticipate think, closer still I they're one mean It's to some phosphide easy ramp tell keep overbuilding. in, or it's must But of -- volume us mean with they they're more most not are about them X have come capacity for middle last instance, us in give back for months what anticipation and and talked next lot buildup of capacity, -- run did they year. -- we as as not, us time us months going year. in obviously, in product results increase and arsenide. very I more the indium them we're

takes get all it to the So time. a bit months little We things about need together. X longer

So in. advance a coming are in products more bit of we little the doing

our capacity meet know, we nice all consumer the from did these customers. year, last demanding in I think, you And products X most a to expanding products, as our demand very job or

now, on with So say right not cannot the and for But, is are thing coming in back Morris. I promise myself yet. consumer product the ramp. pat same I order good job, I the they next Hopefully, the mean you.

question? Next

Operator

I'm just not to Young showing Dr. closing any more to the remarks. Morris Actually, questions I back for like right would now. call turn

Morris Young

be will see conference Thank attending. other you, what in to everybody, let me -- participating conferences And in call. our

in November Conference quarter, This see in Conference in City, to on And you at be at York XX. there. forward of Needham Alpha on we'll Select participating presenting New will New we XX. January November York We be the look -- Craig-Hallum's many

Gary to Leslie As Fischer speaking would please if up free near or feel look forward you the me, like in a you Green set contact future. to call. We always, to directly with

Gary Fischer

Thanks, everyone.

Operator

program. today's for in Thank This concludes conference. your participation you the

You may now disconnect.

AXT (AXTI) 27 Oct 222022 Q3 Earnings call transcript