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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 52,783 $ 72,602
Short-term investments 2,751 240
Accounts receivable, net of allowances of $217 as of June 30, 2021 and December 31, 2020 33,473 24,558
Inventories 58,926 51,515
Prepaid expenses and other current assets 16,509 15,603
Total current assets 164,442 164,518
Long-term investments 2,944 5,726
Property, plant and equipment, net 127,241 115,825
Operating lease right-of-use assets 2,504 2,683
Other assets 12,273 10,110
Total assets 309,404 298,862
Current liabilities:    
Accounts payable 16,130 12,669
Accrued liabilities 11,547 15,995
Bank loan 10,533 10,411
Total current liabilities 38,210 39,075
Noncurrent operating lease liabilities 2,156 2,374
Other long-term liabilities 1,693 1,881
Total liabilities 42,059 43,330
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests (Note 18) 50,083 47,563
Stockholders' equity:    
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of June 30, 2021 and December 31, 2020 (Liquidation preference of $7,434 and $7,346 as of June 30, 2021 and December 31, 2020) 3,532 3,532
Common stock, $0.001 par value; 70,000 shares authorized; 42,480 and 41,967 shares issued and outstanding as of June 30, 2021 and December 31, 2020 42 42
Additional paid-in capital 228,411 230,381
Accumulated deficit (36,735) (44,545)
Accumulated other comprehensive income 4,533 3,209
Total AXT, Inc. stockholders' equity 199,783 192,619
Noncontrolling interests 17,479 15,350
Total stockholders' equity 217,262 207,969
Total liabilities, redeemable noncontrolling interests and stockholders' equity $ 309,404 $ 298,862