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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 43,608 $ 72,602
Short-term investments 5,681 240
Accounts receivable, net of allowances of $130 and $217 as of September 30, 2021 and December 31, 2020 36,584 24,558
Inventories 60,683 51,515
Prepaid expenses and other current assets 13,062 15,603
Total current assets 159,618 164,518
Long-term investments 6,680 5,726
Property, plant and equipment, net 131,617 115,825
Operating lease right-of-use assets 2,401 2,683
Other assets 15,347 10,110
Total assets 315,663 298,862
Current liabilities:    
Accounts payable 11,384 12,669
Accrued liabilities 12,670 15,995
Bank loan 13,285 10,411
Total current liabilities 37,339 39,075
Long-term loan, related party 929  
Noncurrent operating lease liabilities 2,035 2,374
Other long-term liabilities 1,628 1,881
Total liabilities 41,931 43,330
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests (Note 18) 50,178 47,563
Stockholders' equity:    
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of September 30, 2021 and December 31, 2020 (Liquidation preference of $7,478 and $7,346 as of September 30, 2021 and December 31, 2020) 3,532 3,532
Common stock, $0.001 par value; 70,000 shares authorized; 42,657 and 41,967 shares issued and outstanding as of September 30, 2021 and December 31, 2020 43 42
Additional paid-in capital 230,517 230,381
Accumulated deficit (32,935) (44,545)
Accumulated other comprehensive income 4,583 3,209
Total AXT, Inc. stockholders' equity 205,740 192,619
Noncontrolling interests 17,814 15,350
Total stockholders' equity 223,554 207,969
Total liabilities, redeemable noncontrolling interests and stockholders' equity $ 315,663 $ 298,862