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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 21,060 $ 16,526
Short-term investments 13,085 22,129
Accounts receivable, net of allowances of $34 and $358 as of March 31, 2019 and December 31, 2018 19,605 19,586
Inventories 53,025 58,571
Prepaid expenses and other current assets 11,367 11,728
Total current assets 118,142 128,540
Long-term investments   717
Property, plant and equipment, net 84,975 82,280
Operating lease right-of-use assets 1,036  
Other assets 10,405 11,987
Total assets 214,558 223,524
Current liabilities:    
Accounts payable 7,882 13,338
Accrued liabilities 9,556 15,371
Total current liabilities 17,438 28,709
Noncurrent operating lease liabilities 926  
Other long-term liabilities 213 283
Total liabilities 18,577 28,992
Commitments and contingencies (Note 12)
Stockholders’ equity:    
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of March 31, 2019 and December 31, 2018 (Liquidation preference of $7,037 and $6,992 as of March 31, 2019 and December 31, 2018) 3,532 3,532
Common stock, $0.001 par value; 70,000 shares authorized; 39,996 and 39,985 shares issued and outstanding as of March 31, 2019 and December 31, 2018 40 40
Additional paid-in capital 234,976 234,418
Accumulated deficit (46,287) (45,183)
Accumulated other comprehensive loss (733) (1,972)
Total AXT, Inc. stockholders’ equity 191,528 190,835
Noncontrolling interests 4,453 3,697
Total stockholders’ equity 195,981 194,532
Total liabilities and stockholders’ equity $ 214,558 $ 223,524