CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 41,043	$ 36,763
Restricted cash	3,900
Short-term investments	4,471	5,419
Accounts receivable, net of allowances of $307 and $130 as of June 30, 2022 and December 31, 2021	38,751	34,839
Inventories	77,280	65,912
Prepaid expenses and other current assets	11,935	17,252
Total current assets	177,380	160,185
Long-term investments	7,760	9,576
Property, plant and equipment, net	152,882	142,415
Operating lease right-of-use assets	2,021	2,324
Other assets	21,222	17,941
Total assets	361,265	332,441
Current liabilities:
Accounts payable	23,317	16,649
Accrued liabilities	14,581	17,057
Short-term loan from noncontrolling interest		1,887
Bank loan	32,973	12,229
Total current liabilities	70,871	47,822
Noncurrent operating lease liabilities	1,596	1,935
Other long-term liabilities	2,069	2,453
Total liabilities	74,536	52,210
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests (Note 18)	48,265	50,385
Stockholders' equity:
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of June 30, 2022 and December 31, 2021 (Liquidation preference of $7,610 and $7,522 as of June 30, 2022 and December 31, 2021)	3,532	3,532
Common stock, $0.001 par value; 70,000 shares authorized; 43,060 and 42,886 shares issued and outstanding as of June 30, 2022 and December 31, 2021	43	43
Additional paid-in capital	233,364	231,622
Accumulated deficit	(21,259)	(29,970)
Accumulated other comprehensive income	637	6,302
Total AXT, Inc. stockholders' equity	216,317	211,529
Noncontrolling interests	22,147	18,317
Total stockholders' equity	238,464	229,846
Total liabilities, redeemable noncontrolling interests and stockholders' equity	$ 361,265	$ 332,441