CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 26,515	$ 26,892
Short-term investments	5,247	9,427
Accounts receivable, net of allowances of $77 and $34 as of June 30, 2020 and December 31, 2019	19,760	19,031
Inventories	49,586	49,152
Prepaid expenses and other current assets	9,621	8,703
Total current assets	110,729	113,205
Long-term investments	720
Property, plant and equipment, net	101,031	97,403
Operating lease right-of-use assets	2,722	2,938
Other assets	11,018	9,803
Total assets	226,220	223,349
Current liabilities:
Accounts payable	11,540	10,098
Accrued liabilities	10,511	11,681
Bank loan	6,087	5,747
Total current liabilities	28,138	27,526
Long-term portion of royalty payments	1,177
Noncurrent operating lease liabilities	2,455	2,695
Other long-term liabilities	396	366
Total liabilities	32,166	30,587
Commitments and contingencies (Note 12)
Stockholders' equity:
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of June 30, 2020 and December 31, 2019 (Liquidation preference of $7,257 and $7,169 as of June 30, 2020 and December 31, 2019)	3,532	3,532
Common stock, $0.001 par value; 70,000 shares authorized; 40,889 and 40,632 shares issued and outstanding as of June 30, 2020 and December 31, 2019	41	41
Additional paid-in capital	238,754	236,957
Accumulated deficit	(47,600)	(47,783)
Accumulated other comprehensive loss	(6,365)	(4,862)
Total AXT, Inc. stockholders' equity	188,362	187,885
Noncontrolling interests	5,692	4,877
Total stockholders' equity	194,054	192,762
Total liabilities and stockholders' equity	$ 226,220	$ 223,349