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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CONSOLIDATED STATEMENTS OF OPERATIONS      
Revenue $ 75,795 $ 141,118 $ 137,393
Cost of revenue 62,477 88,997 89,979
Gross profit 13,318 52,121 47,414
Operating expenses:      
Selling, general and administrative 22,806 25,654 24,189
Research and development 12,081 13,913 10,328
Total operating expenses 34,887 39,567 34,517
Income (loss) from operations (21,569) 12,554 12,897
Interest expense, net (1,527) (1,071) (213)
Equity in income of unconsolidated joint ventures 1,884 5,957 4,409
Other income, net 2,179 3,487 509
Income (loss) before provision for income taxes (19,033) 20,927 17,602
Provision for income taxes 160 2,185 1,093
Net income (loss) (19,193) 18,742 16,509
Less: Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests 1,312 (2,931) (1,934)
Net income (loss) attributable to AXT, Inc. $ (17,881) $ 15,811 $ 14,575
Net income (loss) attributable to AXT, Inc. per common share:      
Basic $ (0.42) $ 0.37 $ 0.35
Diluted $ (0.42) $ 0.37 $ 0.34
Weighted-average number of common shares outstanding:      
Basic 42,643 42,104 41,367
Diluted 42,643 42,715 42,720