CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 44,352	$ 36,152
Short-term investments	20,032	11,415
Accounts receivable, net of allowances of $527 and $1,013 as of December 31, 2017 and December 31, 2016	22,778	14,453
Inventories	45,840	40,152
Prepaid expenses and other current assets	7,519	5,114
Total current assets	140,521	107,286
Long-term investments	12,576	6,156
Property, plant and equipment, net	46,530	27,805
Related party notes receivable – long-term		157
Other assets	11,573	12,842
Total assets	211,200	154,246
Current liabilities:
Accounts payable	11,445	6,691
Accrued liabilities	11,149	9,260
Total current liabilities	22,594	15,951
Long-term portion of royalty payments		575
Other long-term liabilities	289	330
Total liabilities	22,883	16,856
Commitments and contingencies (Note 17)
Stockholders' equity:
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of December 31, 2017 and December 31, 2016 (Liquidation preference of $6.8 million and $6.6 million as of December 31, 2017 and December 31, 2016)	3,532	3,532
Common stock, $0.001 par value; 70,000 shares authorized; 39,412 and 33,032 shares issued and outstanding as of December 31, 2017 and December 31, 2016	39	33
Additional paid-in-capital	231,679	194,177
Accumulated deficit	(54,837)	(64,985)
Accumulated other comprehensive income	3,407	253
Total AXT, Inc. stockholders' equity	183,820	133,010
Noncontrolling interests	4,497	4,380
Total stockholders' equity	188,317	137,390
Total liabilities and stockholders' equity	$ 211,200	$ 154,246

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Balance Type:	credit
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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.