XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Stockholders' Equity | 9 Months Ended
--- | ---
Sep. 30, 2022
Stockholders' Equity |
Stockholders' Equity | Note 8. Stockholders’ Equity ​ Condensed Consolidated Statements of Stockholders’ Equity (in thousands) ​ The changes in stockholders’ equity by component for the three and nine months ended September 30, 2022 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  |  |  |  |  |  |  |  |  | Accumulated | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other | ​ | AXT, Inc. |  |  |  | Total | ​
​ |  | Preferred |  | Common |  | Additional |  | Accumulated |  | Comprehensive | ​ | Stockholders’ |  | Noncontrolling |  | Stockholders’ | ​
​ |  | Stock |  | Stock |  | Paid-In Capital |  | Deficit |  | Income (Loss) |  | Equity |  | Interests |  | Equity |
Balance as of December 31, 2021 |  | $ | 3,532 |  | $ | 43 |  | $ | 231,622 |  | $ | (29,970) |  | $ | 6,302 | ​ | $ | 211,529 |  | $ | 18,317 |  | $ | 229,846 | ​
Investment in subsidiary with noncontrolling interest | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (410) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (410) | ​ | ​ | 204 | ​ | ​ | (206) | ​
Noncontrolling interest portion of Tongmei stock-based compensation | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 17 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 17 | ​ | ​ | (7) | ​ | ​ | 10 | ​
Stock-based compensation | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 875 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 875 | ​ | ​ | — | ​ | ​ | 875 | ​
Tongmei stock-based compensation | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 213 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 213 | ​ | ​ | — | ​ | ​ | 213 | ​
Net income | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,165 | ​ | ​ | — | ​ | ​ | 3,165 | ​ | ​ | 389 | ​ | ​ | 3,554 | ​
Investment in subsidiary from noncontrolling interest | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,887 | ​ | ​ | 1,887 | ​
Other comprehensive income | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 327 | ​ | ​ | 327 | ​ | ​ | 45 | ​ | ​ | 372 | ​
Balance as of March 31, 2022 | ​ | $ | 3,532 | ​ | $ | 43 | ​ | $ | 232,317 | ​ | $ | (26,805) | ​ | $ | 6,629 | ​ | $ | 215,716 | ​ | $ | 20,835 | ​ | $ | 236,551 | ​
Common stock options exercised | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 146 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 146 | ​ | ​ | — | ​ | ​ | 146 | ​
Investment in subsidiary with noncontrolling interest | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (268) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (268) | ​ | ​ | 1,447 | ​ | ​ | 1,179 | ​
Noncontrolling interest portion of Tongmei stock-based compensation | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 32 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 32 | ​ | ​ | (16) | ​ | ​ | 16 | ​
Stock-based compensation | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 919 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 919 | ​ | ​ | — | ​ | ​ | 919 | ​
Tongmei stock-based compensation | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 218 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 218 | ​ | ​ | — | ​ | ​ | 218 | ​
Net income | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5,546 | ​ | ​ | — | ​ | ​ | 5,546 | ​ | ​ | 450 | ​ | ​ | 5,996 | ​
Other comprehensive income (loss) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (5,992) | ​ | ​ | (5,992) | ​ | ​ | (569) | ​ | ​ | (6,561) | ​
Balance as of June 30, 2022 |  | $ | 3,532 | ​ | $ | 43 | ​ | $ | 233,364 | ​ | $ | (21,259) | ​ | $ | 637 | ​ | $ | 216,317 | ​ | $ | 22,147 | ​ | $ | 238,464 | ​
Common stock options exercised | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 371 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 371 | ​ | ​ | — | ​ | ​ | 371 | ​
Investment in subsidiary with noncontrolling interest | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (259) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (259) | ​ | ​ | 1,048 | ​ | ​ | 789 | ​
Noncontrolling interest portion of Tongmei stock-based compensation | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 20 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 20 | ​ | ​ | (4) | ​ | ​ | 16 | ​
Stock-based compensation | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 921 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 921 | ​ | ​ | — | ​ | ​ | 921 | ​
Tongmei stock-based compensation | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 115 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 115 | ​ | ​ | — | ​ | ​ | 115 | ​
Net income | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5,759 | ​ | ​ | — | ​ | ​ | 5,759 | ​ | ​ | 446 | ​ | ​ | 6,205 | ​
Other comprehensive income (loss) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (6,094) | ​ | ​ | (6,094) | ​ | ​ | (628) | ​ | ​ | (6,722) | ​
Balance as of September 30, 2022 |  | $ | 3,532 | ​ | $ | 43 | ​ | $ | 234,532 | ​ | $ | (15,500) | ​ | $ | (5,457) | ​ | $ | 217,150 | ​ | $ | 23,009 | ​ | $ | 240,159 | ​
​ Net income and other comprehensive loss attributable to redeemable noncontrolling interests was $525,000 and $635,000, respectively, for the three months ended September 30, 2022, and $1.5 million and $1.2 million, respectively, for the nine months ended September 30, 2022 are not shown in the table above. The changes in stockholders’ equity by component for the three and nine months ended September 30, 2021 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  |  |  |  |  |  |  |  |  | Accumulated | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other | ​ | AXT, Inc. |  |  |  | Total
​ |  | Preferred |  | Common |  | Additional |  | Accumulated |  | Comprehensive | ​ | Stockholders’ |  | Noncontrolling |  | Stockholders’
​ |  | Stock |  | Stock |  | Paid-In Capital |  | Deficit |  | Income (Loss) |  | Equity |  | Interests |  | Equity
Balance as of December 31, 2020 |  | $ | 3,532 |  | $ | 42 |  | $ | 230,381 |  | $ | (44,545) |  | $ | 3,209 | ​ | $ | 192,619 |  | $ | 15,350 |  | $ | 207,969
Common stock options exercised | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 704 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 704 | ​ | ​ | — | ​ | ​ | 704
Stock-based compensation | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 816 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 816 | ​ | ​ | — | ​ | ​ | 816
Formation of new subsidiary with noncontrolling interests | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (131) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (131) | ​ | ​ | 707 | ​ | ​ | 576
Sale of common stock to employees in connection with the reorganization | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 538 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 538 | ​ | ​ | — | ​ | ​ | 538
Purchase of subsidiary shares from noncontrolling interests | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,691) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,691) | ​ | ​ | (1,039) | ​ | ​ | (3,730)
Net income (loss) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,425 | ​ | ​ | — | ​ | ​ | 3,425 | ​ | ​ | 311 | ​ | ​ | 3,736
Other comprehensive loss | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (131) | ​ | ​ | (131) | ​ | ​ | (16) | ​ | ​ | (147)
Balance as of March 31, 2021 | ​ | $ | 3,532 | ​ | $ | 42 | ​ | $ | 229,617 | ​ | $ | (41,120) | ​ | $ | 3,078 | ​ | $ | 195,149 | ​ | $ | 15,313 | ​ | $ | 210,462
Common stock options exercised | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 420 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 420 | ​ | ​ | — | ​ | ​ | 420
Stock-based compensation | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 975 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 975 | ​ | ​ | — | ​ | ​ | 975
Formation of new subsidiary with noncontrolling interests | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (131) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (131) | ​ | ​ | 706 | ​ | ​ | 575
Transfer of subsidiary with noncontrolling interest | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,229) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,229) | ​ | ​ | 1,229 | ​ | ​ | —
Transfer of subsidiary with redeemable noncontrolling interest | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,241) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,241) | ​ | ​ | — | ​ | ​ | (1,241)
Net income | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,385 | ​ | ​ | — | ​ | ​ | 4,385 | ​ | ​ | 94 | ​ | ​ | 4,479
Other comprehensive income | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,455 | ​ | ​ | 1,455 | ​ | ​ | 137 | ​ | ​ | 1,592
Balance as of June 30, 2021 |  | $ | 3,532 | ​ | $ | 42 | ​ | $ | 228,411 | ​ | $ | (36,735) | ​ | $ | 4,533 | ​ | $ | 199,783 | ​ | $ | 17,479 | ​ | $ | 217,262
Common stock options exercised | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | 467 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 468 | ​ | ​ | — | ​ | ​ | 468
Stock-based compensation | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,639 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,639 | ​ | ​ | — | ​ | ​ | 1,639
Net income | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,800 | ​ | ​ | — | ​ | ​ | 3,800 | ​ | ​ | 329 | ​ | ​ | 4,129
Other comprehensive income | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 50 | ​ | ​ | 50 | ​ | ​ | 6 | ​ | ​ | 56
Balance as of September 30, 2021 |  | $ | 3,532 | ​ | $ | 43 | ​ | $ | 230,517 | ​ | $ | (32,935) | ​ | $ | 4,583 | ​ | $ | 205,740 | ​ | $ | 17,814 | ​ | $ | 223,554
​ ​ There were no reclassification adjustments from accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2022 and 2021. ​ Stock Repurchase Program ​ On October 27, 2014, our Board of Directors approved a stock repurchase program pursuant to which we may repurchase up to $5.0 million of our outstanding common stock. These repurchases can be made from time to time in the open market and are funded from our existing cash balances and cash generated from operations. During 2015, we repurchased approximately 908,000 shares at an average price of $2.52 per share for a total purchase price of approximately $2.3 million under the stock repurchase program. No shares were repurchased from 2016 through 2021. During the three and nine months ended September 30, 2022, we did no t repurchase any shares under the approved stock repurchase program. As of September 30, 2022, approximately $2.7 million remained available for future repurchases under this program. Currently, we do not plan to repurchase additional shares.

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration