v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 120,266,000 $ 22,833,000
Restricted cash 8,100,000 10,978,000
Accounts receivable, net of allowances for credit losses of $164 and $147 as of December 31, 2025 and December 31, 2024 26,849,000 25,640,000
Inventories 81,651,000 85,077,000
Prepaid expenses and other current assets 9,690,000 13,744,000
Total current assets 246,556,000 158,272,000
Property, plant and equipment, net 161,860,000 159,721,000
Operating lease right-of-use assets 1,982,000 2,479,000
Other assets 23,353,000 18,842,000
Total assets 433,751,000 339,314,000
Liabilities, Current [Abstract]    
Accounts payable 12,947,000 12,356,000
Accrued liabilities 14,798,000 14,556,000
Short-term loans 62,796,000 47,264,000
Total current liabilities 90,541,000 74,176,000
Long-term portion of lease obligations 1,441,000 1,977,000
Other long-term liabilities 7,138,000 8,253,000
Total liabilities 99,120,000 84,406,000
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests (Note 17) 38,056,000 38,577,000
Stockholders’ equity:    
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of December 31, 2025 and December 31, 2024 (Liquidation preference of $8,229 and $8,052 as of December 31, 2025 and December 31, 2024) 3,532,000 3,532,000
Common stock, $0.001 par value; 70,000 shares authorized; 55,337 and 45,358 shares issued and outstanding as of December 31, 2025 and December 31, 2024 55,000 45,000
Additional paid-in capital 339,922,000 241,514,000
Accumulated deficit (64,924,000) (43,664,000)
Accumulated other comprehensive loss (5,295,000) (8,657,000)
Total AXT, Inc. stockholders’ equity 273,290,000 192,770,000
Noncontrolling interests 23,285,000 23,561,000
Total stockholders’ equity 296,575,000 216,331,000
Total liabilities, redeemable noncontrolling interests and stockholders’ equity $ 433,751,000 $ 339,314,000