AXT Inc (AXTI) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.118 everyone. Before we begin, I would like to remind you that during the course of this 00:00:04.118 -- 00:00:08.766 conference call, including comments made in response to your questions, we will provide 00:00:08.766 -- 00:00:13.554 projections or make other forward-looking statements regarding, among other things, the 00:00:13.554 -- 00:00:18.722 future financial performance of the company, market conditions and trends, emerging 00:00:18.722 -- 00:00:24.196 applications using chips or devices fabricated on our substrates, our product mix, 00:00:24.196 -- 00:00:29.424 global economic and political conditions, including trade tariffs and import and export 00:00:29.424 -- 00:00:34.731 restrictions, ability to obtain China export permits, the timing 00:00:34.731 -- 00:00:40.179 of receipt of export permits, ability to increase orders in succeeding quarters, 00:00:40.179 -- 00:00:45.287 to control costs and expenses, to improve manufacturing yields and efficiencies, or 00:00:45.287 -- 00:00:50.154 to utilize our manufacturing capacity. We wish to caution you that such statements deal 00:00:50.154 -- 00:00:55.053 with future events are based on management's current expectations and are subject to 00:00:55.053 -- 00:01:00.741 risks and uncertainties that could cause actual events or results to differ materially. 00:01:00.741 -- 00:01:05.407 In addition to the matters just listed, these uncertainties and risks include but are 00:01:05.407 -- 00:01:10.533 not limited to the financial performance of our partially owned supply chain companies 00:01:10.533 -- 00:01:13.757 and increased environmental regulations in China. 00:01:13.757 -- 00:01:19.004 In addition to the factors just mentioned or that may be mentioned in this call, we refer 00:01:...