AXT Inc (AXTI) Financial Statements (2024 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)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments39,89244,28742,18272,84236,31938,655
Cash and cash equivalents37,75234,94836,76372,60226,89216,526
Short-term investments2,1409,3395,4192409,42722,129
Restricted cash and investments12,3626,400    
Receivables19,25629,25234,83924,55819,03119,586
Inventory, net of allowances, customer advances and progress billings86,50389,62965,91251,51549,15258,571
Inventory86,50389,62965,91251,51549,15258,571
Other undisclosed current assets12,64313,97717,25215,6038,70311,728
Total current assets:170,656183,545160,185164,518113,205128,540
Noncurrent Assets
Operating lease, right-of-use asset2,7991,7612,3242,683 
Property, plant and equipment166,348161,017142,415115,82597,40382,280
Long-term investments and receivables  2,1189,5765,726 717
Long-term investments  2,1189,5765,726 717
Other noncurrent assets18,89821,63117,94110,1109,80311,987
Other undisclosed noncurrent assets     2,938 
Total noncurrent assets:188,045186,527172,256134,344110,14494,984
TOTAL ASSETS:358,701370,072332,441298,862223,349223,524
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities28,63628,24833,70628,66421,77928,709
Accounts payable9,61710,08416,64912,66910,09813,338
Accrued liabilities19,01918,16417,05715,99511,68115,371
Debt52,92147,07812,22910,4115,747 
Other undisclosed current liabilities  1,887   
Total current liabilities:81,55775,32647,82239,07527,52628,709
Noncurrent Liabilities
Long-term debt and lease obligation:   1,9352,374  
Liabilities, other than long-term debt7,9985,0002,4531,881366283
Other liabilities5,6473,6782,4531,881366283
Operating lease, liability2,3511,3221,9352,374 
Other undisclosed noncurrent liabilities     2,695 
Total noncurrent liabilities:7,9985,0004,3884,2553,061283
Total liabilities:89,55580,32652,21043,33030,58728,992
Temporary equity, carrying amount41,66344,84650,38547,563  
Equity
Equity, attributable to parent203,989221,607211,529192,619187,885190,835
Preferred stock3,5323,5323,5323,5323,5323,532
Common stock444443424139
Additional paid in capital238,452235,308231,622230,381236,957234,419
Accumulated other comprehensive income (loss)(5,999)(3,118)6,3023,209(4,862)(1,972)
Accumulated deficit(32,040)(14,159)(29,970)(44,545)(47,783)(45,183)
Equity, attributable to noncontrolling interest23,49423,29318,31715,3504,8773,697
Total equity:227,483244,900229,846207,969192,762194,532
TOTAL LIABILITIES AND EQUITY:358,701370,072332,441298,862223,349223,524

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues75,795141,118137,39395,36183,256102,397
Cost of revenue(62,477)(88,997)(89,979)(65,086)(58,431)(65,350)
Gross profit:13,31852,12147,41430,27524,82537,047
Operating expenses(34,887)(39,567)(34,517)(26,335)(25,139)(24,900)
Operating income (loss):(21,569)12,55412,8973,940(314)12,147
Nonoperating income6522,4162963,0211,164880
Investment income, nonoperating(1,527)(1,071)(213)(179)217528
Other nonoperating income2,1793,4875093,200947352
Income (loss) from continuing operations before equity method investments, income taxes:(20,917)14,97013,1936,96185013,027
Income (loss) from equity method investments1,8845,9574,409111(1,876)(1,080)
Income (loss) from continuing operations before income taxes:(19,033)20,92717,6027,072(1,026)11,947
Income tax expense(160)(2,185)(1,093)(2,031)(562)(938)
Income (loss) from continuing operations:(19,193)18,74216,5095,041(1,588)11,009
Income (loss) before gain (loss) on sale of properties:16,5095,041(1,588)11,009
Net income (loss):(19,193)18,74216,5095,041(1,588)11,009
Net income (loss) attributable to noncontrolling interest1,312(2,931)(1,934)(1,803)(1,012)(1,355)
Net income (loss) attributable to parent:(17,881)15,81114,5753,238(2,600)9,654
Preferred stock dividends and other adjustments(177)(177)(177)(177)(177)(177)
Net income (loss) available to common stockholders, diluted:(18,058)15,63414,3983,061(2,777)9,477

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(19,193)18,74216,5095,041(1,588)11,009
Other comprehensive income (loss)(3,535)(11,232)3,6518,449(2,383)(5,740)
Comprehensive income (loss):(22,728)7,51020,16013,490(3,971)5,269
Comprehensive income (loss), net of tax, attributable to noncontrolling interest1,965(1,117)(2,492)(2,181)(1,519)(994)
Comprehensive income (loss), net of tax, attributable to parent:(20,763)6,39317,66811,309(5,490)4,275

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.

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