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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2017
Stockholders' Equity |
Stockholders' Equity | Note 8. Stockholders’ Equity Condensed Consolidated Statement of Changes in Stockholders’ Equity (in thousands)
|  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Other |  | AXT, Inc |  |  |  | Total |
|  | Preferred |  | Common |  | Additional |  | Accumulated |  | Comprehensive |  | Stockholders’ |  | Noncontrolling |  | Stockholders’ |
|  | Stock |  | Stock |  | Paid-In Capital |  | Deficit |  | Income |  | Equity |  | Interests |  | Equity |
Balance as of December 31, 2016 |  | $ | 3,532 |  | $ | 33 |  | $ | 194,177 |  | $ | (64,985) |  | $ | 253 |  | $ | 133,010 |  | $ | 4,380 |  | $ | 137,390 |
Common stock options exercised |  |  | — |  |  | 1 |  |  | 884 |  |  | — |  |  | — |  |  | 885 |  |  | — |  |  | 885 |
Stock-based compensation |  |  | — |  |  | — |  |  | 622 |  |  | — |  |  | — |  |  | 622 |  |  | — |  |  | 622 |
Issuance of common stock, net of stock issuance costs of $2,639 |  |  | — |  |  | 5 |  |  | 31,856 |  |  | — |  |  | — |  |  | 31,861 |  |  | — |  |  | 31,861 |
Net income (loss) |  |  | — |  |  | — |  |  | — |  |  | 2,595 |  |  | — |  |  | 2,595 |  |  | (372) |  |  | 2,223 |
Dividends declared by joint ventures |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (465) |  |  | (465) |
Other comprehensive income |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,040 |  |  | 1,040 |  |  | 157 |  |  | 1,197 |
Balance as of June 30, 2017 |  | $ | 3,532 |  | $ | 39 |  | $ | 227,539 |  | $ | (62,390) |  | $ | 1,293 |  | $ | 170,013 |  | $ | 3,700 |  | $ | 173,713 |
There were no reclassification adjustments from accumulated other comprehensive income for the three and six months ended June 30, 2017 and 2016. Stock Repurchase Program On October 27, 2014, our Board of Directors approved a stock repurchase program pursuant to which we may repurchase up to $5.0 million of our outstanding common stock. These repurchases can be made from time to time in the open market and are funded from our existing cash balances and cash generated from operations. During 2015, we repurchased approximately 908,000 shares at an average price of $2.52 per share for a total purchase price of approximately $2.3 million under the stock repurchase program. No shares were repurchased during 2016. During the six months ended June 30, 2017, we did not repurchase any shares under the approved stock repurchase program. As of June 30, 2017, approximately $2.7 million remained available for future repurchases under this program.

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