AXT INC

For the period ended Dec 31, 2024. Filed Mar 14, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 14, 2025

AXTI$42.91+10.4%Stored close · as of Nov 9, 2026

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Contents

Consolidated Balance Sheets

(In thousands, except per share data)


	December 31,
· · 2024 · 2023 ·

ASSETS
Current assets:
Cash and cash equivalents		$22,833		$37,752
Restricted cash		10,978		12,362
Short-term investments		—		2,140
Accounts receivable, net of allowances for credit losses of $147 and $579 as of December 31, 2024 and December 31, 2023		25,640		19,256
Inventories		85,077		86,503
Prepaid expenses and other current assets		13,744		12,643
Total current assets		158,272		170,656
Property, plant and equipment, net		159,721		166,348
Operating lease right-of-use assets		2,479		2,799
Other assets		18,842	`	18,898
Total assets		$339,314		$358,701
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$12,356		$9,617
Accrued liabilities		14,556		19,019
Short-term loans		47,264		52,921
Total current liabilities		74,176		81,557
Noncurrent operating lease liabilities		1,977		2,351
Other long-term liabilities		8,253		5,647
Total liabilities		84,406		89,555
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests (Note 18)		38,577		41,663
Stockholders’ equity:
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of December 31, 2024 and December 31, 2023 (Liquidation preference of $8,052 and $7,875 as of December 31, 2024 and December 31, 2023)		3,532		3,532
Common stock, $0.001 par value; 70,000 shares authorized; 45,358 and 44,239 shares issued and outstanding as of December 31, 2024 and December 31, 2023		45		44
Additional paid-in capital		241,514		238,452
Accumulated deficit		(43,664)		(32,040)
Accumulated other comprehensive loss		(8,657)		(5,999)
Total AXT, Inc. stockholders’ equity		192,770		203,989
Noncontrolling interests		23,561		23,494
Total stockholders’ equity		216,331		227,483
Total liabilities, redeemable noncontrolling interests and stockholders’ equity		$339,314		$358,701

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.