CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Current assets
Cash and cash equivalents	$ 26,156	$ 23,724
Short-term investments	5,505	10,079
Accounts receivable, net of allowances of $124 and $561 as of December 31, 2011 and 2010, respectively	17,966	23,076
Inventories	46,012	35,986
Related party notes receivable - current	412	0
Prepaid expenses and other current assets	7,052	4,090
Total current assets	103,103	96,955
Long-term investments	8,981	7,172
Property, plant and equipment, net	34,282	24,240
Related party notes receivable - long-term	2,021	0
Other assets	14,101	11,884
Total assets	162,488	140,251
Current liabilities
Accounts payable	3,286	7,094
Accrued liabilities	7,597	7,745
Total current liabilities	10,883	14,839
Long-term portion of royalty payments	4,125	5,500
Other long-term liabilities	431	108
Total liabilities	15,439	20,447
Commitments and contingencies (Note 17)
Stockholders' equity:
Preferred stock, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of December 31, 2011 and 2010 (Liquidation preference of $5.8 million and $5.6 million as of December 31, 2011 and 2010, respectively)	3,532	3,532
Common stock, $0.001 par value; 70,000 shares authorized; 32,222 and 31,877 shares issued and outstanding as of December 31, 2011 and 2010, respectively	32	32
Additional paid-in-capital	191,554	190,021
Accumulated deficit	(62,157)	(82,477)
Other comprehensive income	5,818	4,652
AXT, Inc. stockholders' equity	138,779	115,760
Noncontrolling interests	8,270	4,044
Total stockholders' equity	147,049	119,804
Total liabilities and stockholders' equity	$ 162,488	$ 140,251