Condensed Consolidated Statements of Changes in Stockholders’ Equity

(in thousands)

The changes in stockholders’ equity by component for the three and nine months ended September 30, 2019, are as follows:


									Accumulated
									Other		AXT, Inc.				Total
	Preferred		Common		Additional		Accumulated		Comprehensive		Stockholders’		Noncontrolling		Stockholders’
	Stock		Stock		Paid-In Capital		Deficit		Income (Loss)		Equity		Interests		Equity
Balance as of December 31, 2018	$	3,532	$	40	$	234,418	$	(45,183)	$	(1,972)	$	190,835	$	3,697	$	194,532
Reclassification out of accumulated other comprehensive income and noncontrolling interests upon the deconsolidation of a subsidiary		—		—		—		—		(1,150)		(1,150)		533		(617)
Stock-based compensation		—		—		558		—		—		558		—		558
Net loss		—		—		—		(1,104)		—		(1,104)		81		(1,023)
Other comprehensive income		—		—		—		—		2,389		2,389		142		2,531
Balance as of March 31, 2019	$	3,532	$	40	$	234,976	$	(46,287)	$	(733)	$	191,528	$	4,453	$	195,981
Common stock options exercised		—		—		232		—		—		232		—		232
Purchase of subsidiary shares from noncontrolling interests		—		—		(74)		—		—		(74)		(339)		(413)
Stock-based compensation		—		—		568		—		—		568		—		568
Net income		—		—		—		1,451		—		1,451		287		1,738
Other comprehensive loss		—		—		—				(2,397)		(2,397)		(54)		(2,451)
Balance as of June 30, 2019	$	3,532	$	40	$	235,702	$	(44,836)	$	(3,130)	$	191,308	$	4,347	$	195,655
Common stock options exercised		—		—		35		—		—		35		—		35
Stock-based compensation		—		—		583		—		—		583		—		583
Net loss		—		—		—		(898)		—		(898)		403		(495)
Other comprehensive loss		—		—		—		—		(4,110)		(4,110)		(214)		(4,324)
Balance as of September 30, 2019	$	3,532	$	40	$	236,320	$	(45,734)	$	(7,240)	$	186,918	$	4,536	$	191,454

The changes in stockholders’ equity by component for the three and nine months ended September 30, 2018, are as follows:


									Accumulated
									Other		AXT, Inc.				Total
	Preferred		Common		Additional		Accumulated		Comprehensive		Stockholders’		Noncontrolling		Stockholders’
	Stock		Stock		Paid-In Capital		Deficit		Income (Loss)		Equity		Interests		Equity
Balance as of December 31, 2017	$	3,532	$	39	$	231,679	$	(54,837)	$	3,407	$	183,820	$	4,497	$	188,317
Common stock options exercised		—		—		66		—		—		66		—		66
Stock-based compensation		—		—		467		—		—		467		—		467
Net income		—		—		—		2,875		—		2,875		315		3,190
Other comprehensive income		—		—		—		—		2,439		2,439		260		2,699
Balance as of March 31, 2018	$	3,532	$	39	$	232,212	$	(51,962)	$	5,846	$	189,667	$	5,072	$	194,739
Common stock options exercised		—		—		112		—		—		112		—		112
Purchase of subsidiary shares from noncontrolling interests		—		—		196		—		—		196		(1,551)		(1,355)
Stock-based compensation		—		—		464		—		—		464		—		464
Net income		—		—		—		3,901		—		3,901		650		4,551
Other comprehensive loss		—		—		—		—		(4,674)		(4,674)		(304)		(4,978)
Balance as of June 30, 2018	$	3,532	$	39	$	232,984	$	(48,061)	$	1,172	$	189,666	$	3,867	$	193,533
Common stock options exercised		—		—		86		—		—		86		—		86
Purchase of subsidiary shares from noncontrolling interests		—		—		(9)		—		—		(9)		(243)		(252)
Stock-based compensation		—		—		461		—		—		461		—		461
Net income		—		—		—		3,939		—		3,939		208		4,147
Other comprehensive loss		—		—		—		—		(3,018)		(3,018)		(239)		(3,257)
Balance as of September 30, 2018	$	3,532	$	39	$	233,522	$	(44,122)	$	(1,846)	$	191,125	$	3,593	$	194,718