Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2022

Stockholders' Equity

Consolidated statements of stockholders' equity

Condensed Consolidated Statements of Stockholders’ Equity

(in thousands)

The changes in stockholders’ equity by component for the three and six months ended June 30, 2022 are as follows:

									Accumulated
									Other		AXT, Inc.				Total
	Preferred		Common		Additional		Accumulated		Comprehensive		Stockholders’		Noncontrolling		Stockholders’
	Stock		Stock		Paid-In Capital		Deficit		Income (Loss)		Equity		Interests		Equity
Balance as of December 31, 2021	$	3,532	$	43	$	231,622	$	(29,970)	$	6,302	$	211,529	$	18,317	$	229,846
Investment in subsidiary with noncontrolling interest		—		—		(410)		—		—		(410)		204		(206)
Noncontrolling interest portion of Tongmei stock-based compensation		—		—		17		—		—		17		(7)		10
Stock-based compensation		—		—		875		—		—		875		—		875
Tongmei stock-based compensation		—		—		213		—		—		213		—		213
Net income		—		—		—		3,165		—		3,165		389		3,554
Investment in subsidiary from noncontrolling interest		—		—		—		—		—		—		1,887		1,887
Other comprehensive income		—		—		—		—		327		327		45		372
Balance as of March 31, 2022	$	3,532	$	43	$	232,317	$	(26,805)	$	6,629	$	215,716	$	20,835	$	236,551
Common stock options exercised		—		—		146		—		—		146		—		146
Investment in subsidiary with noncontrolling interest		—		—		(268)		—		—		(268)		1,447		1,179
Noncontrolling interest portion of Tongmei stock-based compensation		—		—		32		—		—		32		(16)		16
Stock-based compensation		—		—		919		—		—		919		—		919
Tongmei stock-based compensation		—		—		218		—		—		218		—		218
Net income		—		—		—		5,546		—		5,546		450		5,996
Other comprehensive income (loss)		—		—		—		—		(5,992)		(5,992)		(569)		(6,561)
Balance as of June 30, 2022	$	3,532	$	43	$	233,364	$	(21,259)	$	637	$	216,317	$	22,147	$	238,464

Net income and other comprehensive loss attributable to redeemable noncontrolling interests was $549,000 and $575,000, respectively, for the three months ended June 30, 2022, and $967,000 and $529,000, respectively, for the six months ended June 30, 2022 not shown in the table above.

The changes in stockholders’ equity by component for the three and six months ended June 30, 2021 are as follows:

									Accumulated
									Other		AXT, Inc.				Total
	Preferred		Common		Additional		Accumulated		Comprehensive		Stockholders’		Noncontrolling		Stockholders’
	Stock		Stock		Paid-In Capital		Deficit		Income (Loss)		Equity		Interests		Equity
Balance as of December 31, 2020	$	3,532	$	42	$	230,381	$	(44,545)	$	3,209	$	192,619	$	15,350	$	207,969
Common stock options exercised		—		—		704		—		—		704		—		704
Stock-based compensation		—		—		816		—		—		816		—		816
Formation of new subsidiary with noncontrolling interests		—		—		(131)		—		—		(131)		707		576
Sale of common stock to employees in connection with the reorganization		—		—		538		—		—		538		—		538
Purchase of subsidiary shares from noncontrolling interests		—		—		(2,691)		—		—		(2,691)		(1,039)		(3,730)
Net income (loss)		—		—		—		3,425		—		3,425		311		3,736
Other comprehensive loss		—		—		—		—		(131)		(131)		(16)		(147)
Balance as of March 31, 2021	$	3,532	$	42	$	229,617	$	(41,120)	$	3,078	$	195,149	$	15,313	$	210,462
Common stock options exercised		—		—		420		—		—		420		—		420
Stock-based compensation		—		—		975		—		—		975		—		975
Formation of new subsidiary with noncontrolling interests		—		—		(131)		—		—		(131)		706		575
Transfer of subsidiary with noncontrolling interest		—		—		(1,229)		—		—		(1,229)		1,229		—
Transfer of subsidiary with redeemable noncontrolling interest		—		—		(1,241)		—		—		(1,241)		—		(1,241)
Net income		—		—		—		4,385		—		4,385		94		4,479
Other comprehensive income		—		—		—		—		1,455		1,455		137		1,592
Balance as of June 30, 2021	$	3,532	$	42	$	228,411	$	(36,735)	$	4,533	$	199,783	$	17,479	$	217,262