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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 28,732 $ 16,526
Short-term investments 7,517 22,129
Accounts receivable, net of allowances of $34 and $358 as of June 30, 2019 and December 31, 2018 18,275 19,586
Inventories 50,326 58,571
Prepaid expenses and other current assets 6,853 11,728
Total current assets 111,703 128,540
Long-term investments 1,260 717
Property, plant and equipment, net 87,613 82,280
Operating lease right-of-use assets 986  
Other assets 12,328 11,987
Total assets 213,890 223,524
Current liabilities:    
Accounts payable 6,004 13,338
Accrued liabilities 10,945 15,371
Total current liabilities 16,949 28,709
Noncurrent operating lease liabilities 895  
Other long-term liabilities 391 283
Total liabilities 18,235 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 June 30, 2019 and December 31, 2018 (Liquidation preference of $7,081 and $6,992 as of June 30, 2019 and December 31, 2018) 3,532 3,532
Common stock, $0.001 par value; 70,000 shares authorized; 40,205 and 39,985 shares issued and outstanding as of June 30, 2019 and December 31, 2018 40 40
Additional paid-in capital 235,702 234,418
Accumulated deficit (44,836) (45,183)
Accumulated other comprehensive loss (3,130) (1,972)
Total AXT, Inc. stockholders’ equity 191,308 190,835
Noncontrolling interests 4,347 3,697
Total stockholders’ equity 195,655 194,532
Total liabilities and stockholders’ equity $ 213,890 $ 223,524