XML 15 R4.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS        
Revenue $ 18,595 $ 39,487 $ 38,000 $ 79,140
Cost of revenue 16,880 24,052 31,175 50,397
Gross profit 1,715 15,435 6,825 28,743
Operating expenses:        
Selling, general and administrative 5,820 6,693 11,772 13,143
Research and development 2,740 3,453 6,335 6,612
Total operating expenses 8,560 10,146 18,107 19,755
Income (loss) from operations (6,845) 5,289 (11,282) 8,988
Interest expense, net (365) (188) (762) (371)
Equity in income of unconsolidated joint ventures 941 2,177 1,975 3,302
Other income, net 777 294 1,059 285
Income (loss) before provision (benefit) for income taxes (5,492) 7,572 (9,010) 12,204
Provision (benefit) for income taxes (139) 1,027 9 1,687
Net income (loss) (5,353) 6,545 (9,019) 10,517
Less: Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests 264 (999) 582 (1,806)
Net income (loss) attributable to AXT, Inc. $ (5,089) $ 5,546 $ (8,437) $ 8,711
Net income (loss) attributable to AXT, Inc. per common share:        
Basic $ (0.12) $ 0.13 $ (0.20) $ 0.21
Diluted $ (0.12) $ 0.13 $ (0.20) $ 0.20
Weighted-average number of common shares outstanding:        
Basic 42,586 42,001 42,542 41,935
Diluted 42,586 42,511 42,542 42,586