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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 16,526 $ 44,352
Short-term investments 22,129 20,032
Accounts receivable, net of allowances of $358 and $527 as of December 31, 2018 and December 31, 2017 19,586 22,778
Inventories 58,571 45,840
Prepaid expenses and other current assets 11,728 7,519
Total current assets 128,540 140,521
Long-term investments 717 12,576
Property, plant and equipment, net 82,280 46,530
Other assets 11,987 11,573
Total assets 223,524 211,200
Current liabilities:    
Accounts payable 13,338 11,445
Accrued liabilities 15,371 11,149
Total current liabilities 28,709 22,594
Other long-term liabilities 283 289
Total liabilities 28,992 22,883
Commitments and contingencies (Note 16)
Stockholders’ equity:    
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of December 31, 2018 and December 31, 2017 (Liquidation preference of $6,992 and $6,815 as of December 31, 2018 and December 31, 2017) 3,532 3,532
Common stock, $0.001 par value; 70,000 shares authorized; 39,985 and 39,413 shares issued and outstanding as of December 31, 2018 and December 31, 2017 39 39
Additional paid-in capital 234,419 231,679
Accumulated deficit (45,183) (54,837)
Accumulated other comprehensive income (loss) (1,972) 3,407
Total AXT, Inc. stockholders’ equity 190,835 183,820
Noncontrolling interests 3,697 4,497
Total stockholders’ equity 194,532 188,317
Total liabilities and stockholders’ equity $ 223,524 $ 211,200