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 investments22,83339,89244,28742,18272,84236,319
Cash and cash equivalent22,83337,75234,94836,76372,60226,892
Short-term investments  2,1409,3395,4192409,427
Restricted cash and investments10,97812,3626,400   
Receivables25,64019,25629,25234,83924,55819,031
Inventory, net of allowances, customer advances and progress billings85,07786,50389,62965,91251,51549,152
Inventory85,07786,50389,62965,91251,51549,152
Other undisclosed current assets13,74412,64313,97717,25215,6038,703
Total current assets:158,272170,656183,545160,185164,518113,205
Noncurrent Assets
Operating lease, right-of-use asset2,4792,7991,7612,3242,683 
Property, plant and equipment159,721166,348161,017142,415115,82597,403
Long-term investments and receivables   2,1189,5765,726 
Long-term investments   2,1189,5765,726 
Other noncurrent assets18,84218,89821,63117,94110,1109,803
Other undisclosed noncurrent assets      2,938
Total noncurrent assets:181,042188,045186,527172,256134,344110,144
TOTAL ASSETS:339,314358,701370,072332,441298,862223,349
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities26,91228,63628,24833,70628,66421,779
Accounts payable12,3569,61710,08416,64912,66910,098
Accrued liabilities14,55619,01918,16417,05715,99511,681
Debt47,26352,92147,07812,22910,4115,747
Other undisclosed current liabilities1  1,887  
Total current liabilities:74,17681,55775,32647,82239,07527,526
Noncurrent Liabilities
Long-term debt and lease obligation:    1,9352,374 
Liabilities, other than long-term debt10,2307,9985,0002,4531,881366
Other liabilities8,2535,6473,6782,4531,881366
Operating lease, liability1,9772,3511,3221,9352,374 
Other undisclosed noncurrent liabilities      2,695
Total noncurrent liabilities:10,2307,9985,0004,3884,2553,061
Total liabilities:84,40689,55580,32652,21043,33030,587
Temporary equity, including noncontrolling interest38,57741,66344,84650,38547,563 
Equity
Equity, attributable to parent192,770203,989221,607211,529192,619187,885
Preferred stock3,5323,5323,5323,5323,5323,532
Common stock454444434241
Additional paid in capital241,514238,452235,308231,622230,381236,957
Accumulated other comprehensive income (loss)(8,657)(5,999)(3,118)6,3023,209(4,862)
Accumulated deficit(43,664)(32,040)(14,159)(29,970)(44,545)(47,783)
Equity, attributable to noncontrolling interest23,56123,49423,29318,31715,3504,877
Total equity:216,331227,483244,900229,846207,969192,762
TOTAL LIABILITIES AND EQUITY:339,314358,701370,072332,441298,862223,349

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
Revenues99,36175,795141,118137,39395,36183,256
Cost of revenue(75,525)(62,477)(88,997)(89,979)(65,086)(58,431)
Gross profit:23,83613,31852,12147,41430,27524,825
Operating expenses(38,639)(34,887)(39,567)(34,517)(26,335)(25,139)
Operating income (loss):(14,803)(21,569)12,55412,8973,940(314)
Nonoperating income7076522,4162963,0211,164
Investment income, nonoperating(1,340)(1,527)(1,071)(213)(179)217
Gain, foreign currency transaction, before tax      
Other nonoperating income2,0472,1793,4875093,200947
Income (loss) from continuing operations before equity method investments, income taxes:(14,096)(20,917)14,97013,1936,961850
Income (loss) from equity method investments3,4391,8845,9574,409111(1,876)
Other undisclosed loss from continuing operations before income taxes      
Income (loss) from continuing operations before income taxes:(10,657)(19,033)20,92717,6027,072(1,026)
Income tax expense(1,134)(160)(2,185)(1,093)(2,031)(562)
Income (loss) from continuing operations:(11,791)(19,193)18,74216,5095,041(1,588)
Income (loss) before gain (loss) on sale of properties:16,5095,041(1,588)
Net income (loss):(11,791)(19,193)18,74216,5095,041(1,588)
Net income (loss) attributable to noncontrolling interest1671,312(2,931)(1,934)(1,803)(1,012)
Net income (loss) attributable to parent:(11,624)(17,881)15,81114,5753,238(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)15,63414,3983,061(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)18,74216,5095,041(1,588)
Net income attributable to redeemable noncontrolling interest509
Other comprehensive income (loss)(3,272)(3,535)(11,232)3,6518,449(2,383)
Comprehensive income (loss):(15,063)(22,728)7,51020,16013,490(3,971)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest7811,965(1,117)(2,492)(2,181)(1,519)
Comprehensive income (loss), net of tax, attributable to parent:(14,282)(20,763)6,39317,66811,309(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.

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