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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 61,206 $ 72,602
Short-term investments 240 240
Accounts receivable, net of allowances of $217 as of March 31, 2021 and December 31, 2020 28,423 24,558
Inventories 54,681 51,515
Prepaid expenses and other current assets 18,400 15,603
Total current assets 162,950 164,518
Long-term investments 5,463 5,726
Property, plant and equipment, net 119,878 115,825
Operating lease right-of-use assets 2,576 2,683
Other assets 11,039 10,110
Total assets 301,906 298,862
Current liabilities:    
Accounts payable 13,399 12,669
Accrued liabilities 15,698 15,995
Bank loan 10,376 10,411
Total current liabilities 39,473 39,075
Noncurrent operating lease liabilities 2,249 2,374
Other long-term liabilities 1,510 1,881
Total liabilities 43,232 43,330
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests (Note 18) 48,212 47,563
Stockholders' equity:    
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of March 31, 2021 and December 31, 2020 (Liquidation preference of $7,390 and $7,346 as of March 31, 2021 and December 31, 2020) 3,532 3,532
Common stock, $0.001 par value; 70,000 shares authorized; 42,276 and 41,967 shares issued and outstanding as of March 31, 2021 and December 31, 2020 42 42
Additional paid-in capital 229,617 230,381
Accumulated deficit (41,120) (44,545)
Accumulated other comprehensive income 3,078 3,209
Total AXT, Inc. stockholders' equity 195,149 192,619
Noncontrolling interests 15,313 15,350
Total stockholders' equity 210,462 207,969
Total liabilities, redeemable noncontrolling interests and stockholders' equity $ 301,906 $ 298,862