Form 8-K
8-K — AXT INC
Accession: 0001437749-26-024883
Filed: 2026-07-29
Period: 2026-07-26
CIK: 0001051627
SIC: 3674 (SEMICONDUCTORS & RELATED DEVICES)
Item: Entry into a Material Definitive Agreement
Item: Financial Statements and Exhibits
Documents
8-K — axti20260715_8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (ex_993544.htm)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 26, 2026
AXT, INC.
(Exact name of registrant as specified in its charter)
Delaware
000-24085
94-3031310
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
4281 Technology Drive
Fremont, California 94538
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (510) 438-4700
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class:
Trading Symbol
Name of each exchange on which registered:
Common Stock, $0.001 par value
AXTI
The NASDAQ Stock Market LLC
Item 1.01 Entry into a Material Definitive Agreement.
On July 26, 2026, AXT Inc., a Delaware corporation, (the “Registrant”, and collectively with its affiliates, “AXT”) and Lumentum Operations LLC, a Delaware limited liability company (collectively with its affiliates, “Lumentum”) entered into a Capacity Reservation Agreement (the “Agreement”) for the supply and capacity reservation of indium phosphide (“InP”) wafer substrates (the “Products”). Under the terms of the Agreement, AXT has agreed to reserve a minimum annual commitment of the Products by Lumentum (the “Product Capacity”) for a six (6) year period beginning upon entry into the Agreement and to support any additional capacity that may be required. The Agreement may be renewed for additional one (1) year periods.
In consideration for the reservation of the Product Capacity, Lumentum has agreed to pay AXT (i) an initial deposit of $43,500,000, due within thirty (30) business days after entry into the Agreement, and (ii) a second deposit of $43,500,000, with the timing and terms surrounding payment to be subsequently determined during calendar year 2028. The deposits shall be applied as shipment credits towards the purchase of the Products, until such deposit is exhausted. In the event that Lumentum’s actual purchase quantity during any calendar year falls below the committed Product Capacity for such calendar year (the “Annual Purchase Commitment”), subject to certain exceptions relating to force majeure circumstances, and/or Product quality and non-conformance issues, Lumentum shall be responsible for the shortfall between the Annual Purchase Commitment and the quantity actually purchased. In addition, failure to deliver the minimum annual Product Capacity by AXT shall constitute a material breach and should AXT fail to cure such breach, AXT will be required to refund to Lumentum the portion of deposit, as applicable, that has not previously been applied as shipment credits. However, upon termination for convenience or changes in demand, AXT will retain any unallocated deposit amounts. Any modifications to the Product Capacity may only be made in writing executed by both parties.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, which will be filed as an exhibit to the Registrant’s quarterly report on Form 10-Q for the period ended September 30, 2026.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
99.1
Press Release dated July 29, 2026
104
Cover Page Interactive Data File (formatted as inline XBRL)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AXT, INC.
By:
/s/ Gary L. Fischer
Date: July 29, 2026
Gary L. Fischer
Chief Financial Officer and Corporate Secretary
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: ex_993544.htm · Sequence: 2
ex_993544.htm
Exhibit 99.1
FOR IMMEDIATE RELEASE
Contacts:
Gary L. Fischer
Chief Financial Officer
gfischer@axt.com
Leslie Green
Green Communications Consulting, LLC
leslie@greencommunicationsllc.com
AXT, Inc. Announces Long-Term Supplier Agreement with Lumentum
FREMONT, Calif., July 29, 2026 – AXT, Inc. (Nasdaq: AXTI), a leading manufacturer of compound semiconductor substrates, today announced that it entered into a definitive agreement with Lumentum Operations, LLC for the supply and capacity reservation of indium phosphide wafer substrates.
“We are very pleased to announce an agreement with Lumentum and to be a key supplier to their indium phosphide requirements over the coming years,” said Morris Young, chief executive officer of AXT, Inc.
Under the terms of the agreement, AXT has agreed to reserve a minimum annual commitment of indium phosphide by Lumentum for a period beginning upon entry into the agreement, running through December 31st, 2031, and to support any additional capacity that may be required. In consideration for the reservation of the product capacity, Lumentum has agreed to pay AXT an initial deposit of $43,500,000, due within thirty business days after entry into the agreement, and a second deposit of $43,500,000, with the timing and terms surrounding payment to be subsequently determined during calendar year 2028. The deposits shall be applied as shipment credits towards the purchase of the products, until such deposit is exhausted.
For more details, please see the company’s filings on Form 8-K.
About AXT, Inc.
AXT is a material science company that develops and manufactures high-performance compound and single element semiconductor substrate wafers comprising indium phosphide (InP), gallium arsenide (GaAs) and germanium (Ge). The company’s substrate wafers are used when a typical silicon substrate wafer cannot meet the performance requirements of a semiconductor or optoelectronic device. End markets include 5G infrastructure, data center connectivity, passive optical networks, LED lighting, lasers, sensors, power amplifiers for wireless devices and satellite solar cells. AXT’s worldwide headquarters are in Fremont, California where the company maintains sales, administration and customer service functions. AXT has its Asia headquarters in Beijing, China and manufacturing facilities in three separate locations in China. In addition, as part of its supply chain strategy, the company has partial ownership in ten companies in China producing raw materials for its manufacturing process. For more information, see AXT’s website at https://investors.axt.com.
Safe Harbor Statement
This press release contains certain statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, for example, our entry into a definitive agreement with Lumentum, our ability to meet the terms of this agreement, and our ability to meet Lumentum’s future demands and needs for our indium phosphide wafer substrates. Please refer to the company’s filings made with the Securities and Exchange Commission for more information on these and other factors described and captioned “Risk Factors” in the company’s Annual Report on Form 10-K, quarterly reports on Form 10-Q and other filings made with the Securities and Exchange Commission. Each of these factors is difficult to predict and many are beyond the company’s control. The company does not undertake any obligation to update any forward-looking statement, as a result of new information, future events or otherwise. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
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Jul. 26, 2026
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