AXT Inc (AXTI) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
4281 TECHNOLOGY DR. FREMONT, CA 94538 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3674 - Semiconductors and Related Devices (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 3/31/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 22,833 | 39,892 | 44,287 | 42,182 | 72,842 | 36,319 | |||
| Cash and cash equivalent | 22,833 | 37,752 | 34,948 | 36,763 | 72,602 | 26,892 | |||
| Short-term investments | 2,140 | 9,339 | 5,419 | 240 | 9,427 | ||||
| Restricted cash and investments | 10,978 | 12,362 | 6,400 | ||||||
| Receivables | 25,640 | 19,256 | 29,252 | 34,839 | 24,558 | 19,031 | |||
| Inventory, net of allowances, customer advances and progress billings | 85,077 | 86,503 | 89,629 | 65,912 | 51,515 | 49,152 | |||
| Inventory | 85,077 | 86,503 | 89,629 | 65,912 | 51,515 | 49,152 | |||
| Other undisclosed current assets | 13,744 | 12,643 | 13,977 | 17,252 | 15,603 | 8,703 | |||
| Total current assets: | 158,272 | 170,656 | 183,545 | 160,185 | 164,518 | 113,205 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 2,479 | 2,799 | 1,761 | 2,324 | 2,683 | ||||
| Property, plant and equipment | 159,721 | 166,348 | 161,017 | 142,415 | 115,825 | 97,403 | |||
| Long-term investments and receivables | 2,118 | 9,576 | 5,726 | ||||||
| Long-term investments | 2,118 | 9,576 | 5,726 | ||||||
| Other noncurrent assets | 18,842 | 18,898 | 21,631 | 17,941 | 10,110 | 9,803 | |||
| Other undisclosed noncurrent assets | 2,938 | ||||||||
| Total noncurrent assets: | 181,042 | 188,045 | 186,527 | 172,256 | 134,344 | 110,144 | |||
| TOTAL ASSETS: | 339,314 | 358,701 | 370,072 | 332,441 | 298,862 | 223,349 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 26,912 | 28,636 | 28,248 | 33,706 | 28,664 | 21,779 | |||
| Accounts payable | 12,356 | 9,617 | 10,084 | 16,649 | 12,669 | 10,098 | |||
| Accrued liabilities | 14,556 | 19,019 | 18,164 | 17,057 | 15,995 | 11,681 | |||
| Debt | 47,263 | 52,921 | 47,078 | 12,229 | 10,411 | 5,747 | |||
| Other undisclosed current liabilities | 1 | 1,887 | |||||||
| Total current liabilities: | 74,176 | 81,557 | 75,326 | 47,822 | 39,075 | 27,526 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation: | 1,935 | 2,374 | |||||||
| Liabilities, other than long-term debt | 10,230 | 7,998 | 5,000 | 2,453 | 1,881 | 366 | |||
| Other liabilities | 8,253 | 5,647 | 3,678 | 2,453 | 1,881 | 366 | |||
| Operating lease, liability | 1,977 | 2,351 | 1,322 | 1,935 | 2,374 | ||||
| Other undisclosed noncurrent liabilities | 2,695 | ||||||||
| Total noncurrent liabilities: | 10,230 | 7,998 | 5,000 | 4,388 | 4,255 | 3,061 | |||
| Total liabilities: | 84,406 | 89,555 | 80,326 | 52,210 | 43,330 | 30,587 | |||
| Temporary equity, including noncontrolling interest | 38,577 | 41,663 | 44,846 | 50,385 | 47,563 | ||||
| Equity | |||||||||
| Equity, attributable to parent | 192,770 | 203,989 | 221,607 | 211,529 | 192,619 | 187,885 | |||
| Preferred stock | 3,532 | 3,532 | 3,532 | 3,532 | 3,532 | 3,532 | |||
| Common stock | 45 | 44 | 44 | 43 | 42 | 41 | |||
| Additional paid in capital | 241,514 | 238,452 | 235,308 | 231,622 | 230,381 | 236,957 | |||
| Accumulated other comprehensive income (loss) | (8,657) | (5,999) | (3,118) | 6,302 | 3,209 | (4,862) | |||
| Accumulated deficit | (43,664) | (32,040) | (14,159) | (29,970) | (44,545) | (47,783) | |||
| Equity, attributable to noncontrolling interest | 23,561 | 23,494 | 23,293 | 18,317 | 15,350 | 4,877 | |||
| Total equity: | 216,331 | 227,483 | 244,900 | 229,846 | 207,969 | 192,762 | |||
| TOTAL LIABILITIES AND EQUITY: | 339,314 | 358,701 | 370,072 | 332,441 | 298,862 | 223,349 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 99,361 | 75,795 | 141,118 | 137,393 | 95,361 | 83,256 | ||
| Cost of revenue | (75,525) | (62,477) | (88,997) | (89,979) | (65,086) | (58,431) | ||
| Gross profit: | 23,836 | 13,318 | 52,121 | 47,414 | 30,275 | 24,825 | ||
| Operating expenses | (38,639) | (34,887) | (39,567) | (34,517) | (26,335) | (25,139) | ||
| Operating income (loss): | (14,803) | (21,569) | 12,554 | 12,897 | 3,940 | (314) | ||
| Nonoperating income | 707 | 652 | 2,416 | 296 | 3,021 | 1,164 | ||
| Investment income, nonoperating | (1,340) | (1,527) | (1,071) | (213) | (179) | 217 | ||
| Gain, foreign currency transaction, before tax | ||||||||
| Other nonoperating income | 2,047 | 2,179 | 3,487 | 509 | 3,200 | 947 | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (14,096) | (20,917) | 14,970 | 13,193 | 6,961 | 850 | ||
| Income (loss) from equity method investments | 3,439 | 1,884 | 5,957 | 4,409 | 111 | (1,876) | ||
| Other undisclosed loss from continuing operations before income taxes | ||||||||
| Income (loss) from continuing operations before income taxes: | (10,657) | (19,033) | 20,927 | 17,602 | 7,072 | (1,026) | ||
| Income tax expense | (1,134) | (160) | (2,185) | (1,093) | (2,031) | (562) | ||
| Income (loss) from continuing operations: | (11,791) | (19,193) | 18,742 | 16,509 | 5,041 | (1,588) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | 16,509 | 5,041 | (1,588) | |
| Net income (loss): | (11,791) | (19,193) | 18,742 | 16,509 | 5,041 | (1,588) | ||
| Net income (loss) attributable to noncontrolling interest | 167 | 1,312 | (2,931) | (1,934) | (1,803) | (1,012) | ||
| Net income (loss) attributable to parent: | (11,624) | (17,881) | 15,811 | 14,575 | 3,238 | (2,600) | ||
| Preferred stock dividends and other adjustments | (177) | (177) | (177) | (177) | (177) | (177) | ||
| Net income (loss) available to common stockholders, diluted: | (11,801) | (18,058) | 15,634 | 14,398 | 3,061 | (2,777) | ||
Comprehensive Income ($ in thousands)
| 3/31/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (11,791) | (19,193) | 18,742 | 16,509 | 5,041 | (1,588) | ||
| Net income attributable to redeemable noncontrolling interest | 509 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other comprehensive income (loss) | (3,272) | (3,535) | (11,232) | 3,651 | 8,449 | (2,383) | ||
| Comprehensive income (loss): | (15,063) | (22,728) | 7,510 | 20,160 | 13,490 | (3,971) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 781 | 1,965 | (1,117) | (2,492) | (2,181) | (1,519) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (14,282) | (20,763) | 6,393 | 17,668 | 11,309 | (5,490) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.