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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenue $ 27,955 $ 23,645 $ 65,285 $ 74,256
Cost of revenue 21,731 17,963 58,869 54,828
Gross profit 6,224 5,682 6,416 19,428
Operating expenses:        
Selling, general and administrative 6,334 5,650 17,903 17,656
Research and development 1,013 3,438 6,656 10,410
Total operating expenses 7,347 9,088 24,559 28,066
Loss from operations (1,123) (3,406) (18,143) (8,638)
Interest expense, net (395) (391) (866) (1,022)
Gain from equity method and fair value investments 515 1,007 592 2,495
Other income (expense), net (166) 529 211 2,052
Loss before provision for income taxes (1,169) (2,261) (18,206) (5,113)
Provision for income taxes 504 626 1,157 1,021
Net loss (1,673) (2,887) (19,363) (6,134)
Less: Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests (233) (50) 1,651 (402)
Net loss attributable to AXT, Inc. $ (1,906) $ (2,937) $ (17,712) $ (6,536)
Net loss attributable to AXT, Inc. per common share:        
Basic (in dollars per share) $ (0.04) $ (0.07) $ (0.41) $ (0.15)
Diluted (in dollars per share) $ (0.04) $ (0.07) $ (0.41) $ (0.15)
Weighted-average number of common shares outstanding:        
Basic (in shares) 43,842 43,157 43,701 43,079
Diluted (in shares) 43,842 43,157 43,701 43,079