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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash $ 27,808,000 $ 37,752,000
Restricted cash 13,789,000 12,362,000
Short-term investments 1,675,000 2,140,000
Accounts receivable, net of allowances for credit losses of $263 and $579 as of June 30, 2024 and December 31, 2023 27,163,000 19,256,000
Inventories 85,774,000 86,503,000
Prepaid expenses and other current assets 11,187,000 12,643,000
Total current assets 167,396,000 170,656,000
Property, plant and equipment, net 161,332,000 166,348,000
Operating lease right-of-use assets 2,531,000 2,799,000
Other assets 18,154,000 18,898,000
Total assets 349,413,000 358,701,000
Current liabilities:    
Accounts payable 11,655,000 9,617,000
Accrued liabilities 12,268,000 19,019,000
Short-term loans 50,724,000 52,921,000
Total current liabilities 74,647,000 81,557,000
Noncurrent operating lease liabilities 2,083,000 2,351,000
Other long-term liabilities 9,570,000 5,647,000
Total liabilities 86,300,000 89,555,000
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests (Note 18) 39,761,000 41,663,000
Stockholders' equity:    
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of June 30, 2024 and December 31, 2023 (Liquidation preference of $7,964 and $7,875 as of June 30, 2024 and December 31, 2023) 3,532,000 3,532,000
Common stock, $0.001 par value; 70,000 shares authorized; 44,482 and 44,239 shares issued and outstanding as of June 30, 2024 and December 31, 2023 44,000 44,000
Additional paid-in capital 239,962,000 238,452,000
Accumulated deficit (35,639,000) (32,040,000)
Accumulated other comprehensive loss (8,227,000) (5,999,000)
Total AXT, Inc. stockholders' equity 199,672,000 203,989,000
Noncontrolling interests 23,680,000 23,494,000
Total stockholders' equity 223,352,000 227,483,000
Total liabilities, redeemable noncontrolling interests and stockholders' equity $ 349,413,000 $ 358,701,000