AXT INC
For the period ended Dec 31, 2025. Filed Mar 17, 2026.
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FY2025 · Filed Mar 17, 2026
AXTI$42.91+10.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(In thousands, except per share data)
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $120,266 | $22,833 |
| Restricted cash | 8,100 | 10,978 |
| Accounts receivable, net of allowances for credit losses of $164 and $147 as of December 31, 2025 and December 31, 2024 | 26,849 | 25,640 |
| Inventories | 81,651 | 85,077 |
| Prepaid expenses and other current assets | 9,690 | 13,744 |
| Total current assets | 246,556 | 158,272 |
| Property, plant and equipment, net | 161,860 | 159,721 |
| Operating lease right-of-use assets | 1,982 | 2,479 |
| Other assets | 23,353 | 18,842 |
| Total assets | $433,751 | $339,314 |
| LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $12,947 | $12,356 |
| Accrued liabilities | 14,798 | 14,556 |
| Short-term loans | 62,796 | 47,264 |
| Total current liabilities | 90,541 | 74,176 |
| Noncurrent operating lease liabilities | 1,441 | 1,977 |
| Other long-term liabilities | 7,138 | 8,253 |
| Total liabilities | 99,120 | 84,406 |
| Commitments and contingencies (Note 16) | ||
| Redeemable noncontrolling interests (Note 17) | 38,056 | 38,577 |
| 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 | 3,532 |
| 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 | 45 |
| Additional paid-in capital | 339,922 | 241,514 |
| Accumulated deficit | (64,924) | (43,664) |
| Accumulated other comprehensive loss | (5,295) | (8,657) |
| Total AXT, Inc. stockholders’ equity | 273,290 | 192,770 |
| Noncontrolling interests | 23,285 | 23,561 |
| Total stockholders’ equity | 296,575 | 216,331 |
| Total liabilities, redeemable noncontrolling interests and stockholders’ equity | $433,751 | $339,314 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.