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$AXTI
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Consolidated Balance Sheets (Current Period Unaudited)

In millions of USD, except per-share amounts
Q2 FY2026
As of Jun 30, 2026
Q1 FY2026
As of Mar 31, 2026
Q4 FY2025
As of Dec 31, 2025
Q3 FY2025
As of Sep 30, 2025
Q2 FY2025
As of Jun 30, 2025
Q1 FY2025
As of Mar 31, 2025
Q4 FY2024
As of Dec 31, 2024
Q3 FY2024
As of Sep 30, 2024
Q2 FY2024
As of Jun 30, 2024
Q1 FY2024
As of Mar 31, 2024
Q4 FY2023
As of Dec 31, 2023
Q3 FY2023
As of Sep 30, 2023
Q2 FY2023
As of Jun 30, 2023
Q1 FY2023
As of Mar 31, 2023
Q4 FY2022
As of Dec 31, 2022
Q3 FY2022
As of Sep 30, 2022
Q2 FY2022
As of Jun 30, 2022
Q1 FY2022
As of Mar 31, 2022
Q4 FY2021
As of Dec 31, 2021
Q3 FY2021
As of Sep 30, 2021
Current assets:
Cash and cash equivalents
Restricted cash
Short-term investments
Accounts receivable, net of allowances for credit losses of $230 and $164 as of June 30, 2026 and December 31, 2025
Inventories
Prepaid expenses and other current assets
Total current assets
Long-term investments
Property, plant and equipment, net
Operating lease right-of-use assets
Other assets
Total assets
Current liabilities:
Accounts payable
Accrued liabilities
Bank loans
Short-term loans
Total current liabilities
Long-term portion of lease obligations
Other long-term liabilities
Total liabilities
Redeemable noncontrolling interests (Note 18)
Stockholders’ equity:
Preferred stock Series A, $0.001 par value; 2,000 shares authorized; 883 shares issued and outstanding as of June 30, 2026 and December 31, 2025 (Liquidation preference of $8,317 and $8,229 as of June 30, 2026 and December 31, 2025)
Common stock, $0.001 par value; 120,000 and 70,000 shares authorized as of June 30, 2026 and December 31, 2025; 65,570 and 55,337 shares issued and outstanding as of June 30, 2026 and December 31, 2025
Additional paid-in capital
Accumulated deficit
Accumulated other comprehensive loss
Total AXT, Inc. stockholders’ equity
Noncontrolling interests
Total stockholders’ equity
Total liabilities, redeemable noncontrolling interests and stockholders’ equity

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