CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 26,892	$ 16,526
Short-term investments	9,427	22,129
Accounts receivable, net of allowances of $34 and $358 as of December 31, 2019 and December 31, 2018	19,031	19,586
Inventories	49,152	58,571
Prepaid expenses and other current assets	8,703	11,728
Total current assets	113,205	128,540
Long-term investments		717
Property, plant and equipment, net	97,403	82,280
Operating lease right-of-use assets	2,938
Other assets	9,803	11,987
Total assets	223,349	223,524
Current liabilities:
Accounts payable	10,098	13,338
Accrued liabilities	11,681	15,371
Bank loan	5,747
Total current liabilities	27,526	28,709
Noncurrent operating lease liabilities	2,695
Other long-term liabilities	366	283
Total liabilities	30,587	28,992
Commitments and contingencies (Note 16)
Stockholders’ equity:
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of December 31, 2019 and December 31, 2018 (Liquidation preference of $7,169 and $6,992 as of December 31, 2019 and December 31, 2018)	3,532	3,532
Common stock, $0.001 par value; 70,000 shares authorized; 40,632 and 39,985 shares issued and outstanding as of December 31, 2019 and December 31, 2018	41	40
Additional paid-in capital	236,957	234,418
Accumulated deficit	(47,783)	(45,183)
Accumulated other comprehensive loss	(4,862)	(1,972)
Total AXT, Inc. stockholders’ equity	187,885	190,835
Noncontrolling interests	4,877	3,697
Total stockholders’ equity	192,762	194,532
Total liabilities and stockholders’ equity	$ 223,349	$ 223,524