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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 29,494 $ 36,763
Short-term investments 5,400 5,419
Accounts receivable, net of allowances of $130 as of March 31, 2022 and December 31, 2021 39,848 34,839
Inventories 68,821 65,912
Prepaid expenses and other current assets 16,501 17,252
Total current assets 160,064 160,185
Long-term investments 9,400 9,576
Property, plant and equipment, net 147,286 142,415
Operating lease right-of-use assets 2,223 2,324
Other assets 19,426 17,941
Total assets 338,399 332,441
Current liabilities:    
Accounts payable 14,399 16,649
Accrued liabilities 12,213 17,057
Short-term loan from noncontrolling interest   1,887
Bank loan 20,192 12,229
Total current liabilities 46,804 47,822
Noncurrent operating lease liabilities 1,810 1,935
Other long-term liabilities 2,263 2,453
Total liabilities 50,877 52,210
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests (Note 18) 50,971 50,385
Stockholders' equity:    
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of March 31, 2022 and December 31, 2021 (Liquidation preference of $7,566 and $7,522 as of March 31, 2022 and December 31, 2021) 3,532 3,532
Common stock, $0.001 par value; 70,000 shares authorized; 42,952 and 42,886 shares issued and outstanding as of March 31, 2022 and December 31, 2021 43 43
Additional paid-in capital 232,317 231,622
Accumulated deficit (26,805) (29,970)
Accumulated other comprehensive income 6,629 6,302
Total AXT, Inc. stockholders' equity 215,716 211,529
Noncontrolling interests 20,835 18,317
Total stockholders' equity 236,551 229,846
Total liabilities, redeemable noncontrolling interests and stockholders' equity $ 338,399 $ 332,441