Stockholders' Equity

9 Months Ended

Sep. 30, 2018

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 (Loss)		Equity		Interests		Equity
Balance as of December 31, 2017	$	3,532	$	39	$	231,679	$	(54,837)	$	3,407	$	183,820	$	4,497	$	188,317
Common stock options exercised		—		—		264		—		—		264		—		264
Purchase of subsidiary shares from noncontrolling interest						187						187		(1,794)		(1,607)
Stock-based compensation		—		—		1,392		—		—		1,392		—		1,392
Net income		—		—		—		10,715		—		10,715		1,173		11,888
Other comprehensive loss		—		—		—		—		(5,253)		(5,253)		(283)		(5,536)
Balance as of September 30, 2018	$	3,532	$	39	$	233,522	$	(44,122)	$	(1,846)	$	191,125	$	3,593	$	194,718

There were no reclassification adjustments from accumulated other comprehensive income for the three and nine months ended September 30, 2018 and 2017.

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 and 2017. During the three and nine months ended September 30, 2018, we did not repurchase any shares under the approved stock repurchase program. As of September 30, 2018, approximately $2.7 million remained available for future repurchases under this program. Currently, we do not plan to repurchase additional shares.