2024 Q1 Form 10-K Financial Statement

#000155837024003410 Filed on March 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $22.69M $20.43M $75.80M
YoY Change 16.92% -23.76% -46.29%
Cost Of Revenue $16.59M $15.80M $62.48M
YoY Change 16.08% -13.17% -29.8%
Gross Profit $6.094M $4.627M $13.32M
YoY Change 19.26% -46.17% -74.45%
Gross Profit Margin 26.86% 22.65% 17.57%
Selling, General & Admin $6.227M $5.367M $22.81M
YoY Change 4.62% -9.57% -11.1%
% of Gross Profit 102.18% 115.99% 171.24%
Research & Development $3.214M $2.820M $12.08M
YoY Change -10.6% -22.99% -13.17%
% of Gross Profit 52.74% 60.95% 90.71%
Depreciation & Amortization $2.192M $2.298M $8.722M
YoY Change 3.49% 11.07% 7.68%
% of Gross Profit 35.97% 49.67% 65.49%
Operating Expenses $9.441M $8.187M $34.89M
YoY Change -1.11% -14.69% -11.83%
Operating Profit -$3.347M -$3.560M -$21.57M
YoY Change -24.57% 255.64% -271.81%
Interest Expense $599.0K -$618.0K $526.0K
YoY Change -5.97% -148.32% -91.86%
% of Operating Profit
Other Income/Expense, Net $1.032M $671.0K -$547.0K
YoY Change 265.96% -44.73% -115.69%
Pretax Income -$1.774M -$3.507M -$19.03M
YoY Change -49.57% -335.05% -191.07%
Income Tax $274.0K $252.0K $160.0K
% Of Pretax Income
Net Earnings -$2.083M -$3.666M -$18.06M
YoY Change -37.78% -373.38% -214.21%
Net Earnings / Revenue -9.18% -17.95% -23.82%
Basic Earnings Per Share -$0.05 -$0.09 -$0.42
Diluted Earnings Per Share -$0.05 -$0.09 -$0.42
COMMON SHARES
Basic Shares Outstanding 44.25M 43.64M 42.64M
Diluted Shares Outstanding 42.99M 42.64M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.46M $39.89M $39.89M
YoY Change -35.32% -9.92% -9.92%
Cash & Equivalents $25.79M $37.75M $37.75M
Short-Term Investments $1.667M $2.140M $2.140M
Other Short-Term Assets $25.28M $25.01M $25.01M
YoY Change 17.44% 22.71% 22.71%
Inventory $85.94M $86.50M $86.50M
Prepaid Expenses
Receivables $25.06M $19.26M $19.26M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $163.7M $170.7M $170.7M
YoY Change -7.49% -7.02% -7.02%
LONG-TERM ASSETS
Property, Plant & Equipment $163.1M $169.1M $169.1M
YoY Change -0.65% 5.05% 3.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $13.20M $12.48M $12.48M
YoY Change 703.78% -14.59% -25.41%
Other Assets $19.44M $6.422M $3.310M
YoY Change -18.29% -70.31% -35.07%
Total Long-Term Assets $185.2M $188.0M $188.0M
YoY Change -2.32% 0.81% 0.81%
TOTAL ASSETS
Total Short-Term Assets $163.7M $170.7M $170.7M
Total Long-Term Assets $185.2M $188.0M $188.0M
Total Assets $349.0M $358.7M $358.7M
YoY Change -4.82% -3.07% -3.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.26M $16.87M $16.87M
YoY Change 51.67% 67.26% 18.62%
Accrued Expenses $12.70M $8.071M $8.071M
YoY Change -3.82% -55.57% -12.21%
Deferred Revenue $535.0K $305.0K
YoY Change -52.02% -9.76%
Short-Term Debt $48.20M $52.92M $52.92M
YoY Change -8.75% 12.41% 12.41%
Long-Term Debt Due $800.0K
YoY Change
Total Short-Term Liabilities $72.01M $81.56M $81.56M
YoY Change -1.07% 8.27% 8.27%
LONG-TERM LIABILITIES
Long-Term Debt $7.000M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $9.655M $7.998M $7.998M
YoY Change 75.64% 117.46% 59.96%
Total Long-Term Liabilities $9.655M $7.998M $7.998M
YoY Change 75.64% 117.46% 59.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $72.01M $81.56M $81.56M
Total Long-Term Liabilities $9.655M $7.998M $7.998M
Total Liabilities $83.87M $154.7M $154.7M
YoY Change -42.8% 92.61% 4.21%
SHAREHOLDERS EQUITY
Retained Earnings -$34.12M -$32.04M
YoY Change 94.91% 126.29%
Common Stock $239.3M $238.5M
YoY Change 1.3% 1.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $201.1M $204.0M $204.0M
YoY Change
Total Liabilities & Shareholders Equity $349.0M $358.7M $358.7M
YoY Change -4.82% -3.07% -3.07%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$2.083M -$3.666M -$18.06M
YoY Change -37.78% -373.38% -214.21%
Depreciation, Depletion And Amortization $2.192M $2.298M $8.722M
YoY Change 3.49% 11.07% 7.68%
Cash From Operating Activities -$8.806M $1.429M $3.403M
YoY Change 474.05% 166.6% -138.82%
INVESTING ACTIVITIES
Capital Expenditures $4.392M -$703.0K $10.48M
YoY Change 21.46% 134.33% -63.2%
Acquisitions
YoY Change
Other Investing Activities $480.0K $1.539M $7.871M
YoY Change -83.47% 76850.0% 142.78%
Cash From Investing Activities -$3.912M $2.242M -$2.604M
YoY Change 448.67% 642.38% -89.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $718.0K
YoY Change
Debt Paid & Issued, Net $168.0K
YoY Change
Cash From Financing Activities 2.000M 6.371M 8.613M
YoY Change -65.36% 131.17% -77.35%
NET CHANGE
Cash From Operating Activities -8.806M 1.429M 3.403M
Cash From Investing Activities -3.912M 2.242M -2.604M
Cash From Financing Activities 2.000M 6.371M 8.613M
Net Change In Cash -10.51M 10.04M 9.412M
YoY Change -396.59% 179.41% 105.28%
FREE CASH FLOW
Cash From Operating Activities -$8.806M $1.429M $3.403M
Capital Expenditures $4.392M -$703.0K $10.48M
Free Cash Flow -$13.20M $2.132M -$7.072M
YoY Change 156.27% 155.02% -81.0%

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CY2021 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2022 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 axti Non Controlling Interests Investments In Subsidiary
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CY2022 axti Loan Proceeds Paid Directly To Third Party Included In Accounts Payable
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474000
CY2022 axti Sale Of Land And Building To Unconsolidated Joint Venture
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CY2022 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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CY2021 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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CY2023 axti Number Of Product Lines
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2
CY2023 axti Minority Investment Entities Not Consolidated Accounted For By Equity Method
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CY2022 axti Minority Investment Entities Not Consolidated Accounted For By Equity Method
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CY2023 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates, judgments and assumptions. We believe that the estimates, judgments, and assumptions upon which management relies are reasonable based on information available at the time that these estimates, judgments, and assumptions are made. These estimates, judgments, and assumptions can affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements as well as the reported amounts of revenues and expenses during the periods presented. To the extent there are material differences between these estimates and actual results, our consolidated financial statements would be affected.</p>
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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200000
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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1600000
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2022Q4 us-gaap Contract With Customer Liability Current
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338000
CY2023Q4 us-gaap Contract With Customer Liability Revenue Recognized
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9000
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
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287000
CY2022Q4 us-gaap Contract With Customer Liability Revenue Recognized
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22000
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
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760000
CY2023 us-gaap Number Of Operating Segments
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1
CY2023 us-gaap Revenue Practical Expedient Incremental Cost Of Obtaining Contract
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true
CY2023 us-gaap Revenue Practical Expedient Financing Component
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true
CY2023 us-gaap Revenue Practical Expedient Remaining Performance Obligation
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true
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 11pt 0pt;"><span style="font-style:italic;font-weight:bold;">Risks and Concentration of Credit Risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 11pt 0pt;">Our business is very dependent on the semiconductor, lasers and optical industries which can be highly cyclical and experience downturns as a result of economic changes, overcapacity, and technological advancements. Significant technological changes in the industry or customer requirements, or the emergence of competitive products with new capabilities or technologies, could adversely affect our operating results. In addition, a significant portion of our revenues and net income is derived from international sales. Fluctuations of the United States dollar against foreign currencies and changes in local regulatory or economic conditions, particularly in an emerging market such as China, could adversely affect operating results.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 11pt 0pt;">We depend on a limited number of suppliers for certain raw materials, components and equipment used in manufacturing our products, including quartz tubing and polishing solutions. We generally purchase these materials through standard purchase orders and not pursuant to long-term supply contracts.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">Financial instruments that potentially subject us to concentration of credit risk consist primarily of cash and cash equivalents, investments, and accounts receivable. We invest primarily in money market accounts, certificates of deposit and corporate bonds. The composition and maturities are regularly monitored by management. Such deposits are in excess of the amount of the insurance provided by the federal government on such deposits. We are exposed to credit risks in the event of default by the issuers to the extent of the amount recorded on the consolidated balance sheets.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We perform ongoing credit evaluations of our customers’ financial condition, and limit the amount of credit extended when deemed necessary, but generally do not require collateral. The credit risk in our accounts receivable is mitigated by our credit evaluation process and the geographical dispersion of sales transactions. No customer accounted for more than 10% of our accounts receivable as of December 31, 2023 and two customers accounted for more than 10% of our accounts receivable as of December <span style="white-space:pre-wrap;">31, 2022. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 11pt 0pt;"><span style="background:#ffffff;">No</span> customer represented 10% of our revenue for the year ended December 31, 2023 and 2021.<span style="background:#ffffff;"> One</span><span style="background:#ffffff;"> customer represented </span><span style="background:#ffffff;">15%</span><span style="background:#ffffff;"> of our revenue for the year ended December 31, 2022. </span>Our top five customers, although not the same five customers for each period, represented 25% of our revenue for the year 2023, 34% of our revenue for the year 2022, and 26% of our revenue for the year 2021. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 11pt 0pt;">For the year ended December 31, 2023, two third-party customers for the raw materials products from our consolidated subsidiaries accounted for over 10% of the revenue from raw materials sales. For the years ended December 31, 2022 and 2021, one third-party customer for the raw materials products from our consolidated subsidiaries accounted for over 10% of the revenue from raw materials sales. Our subsidiaries and raw material joint ventures are a key strategic benefit for us as they further diversify our sources of revenue.</p>
CY2023Q4 us-gaap Restricted Cash Current
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12400000
CY2023Q4 us-gaap Accounts Receivable Net Current
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19300000
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703000
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
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CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1900000
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2023 us-gaap Number Of Operating Segments
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CY2023 us-gaap Number Of Operating Segments
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CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2023Q4 us-gaap Cash
Cash
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CY2023Q4 us-gaap Cash
Cash
50114000
CY2022Q4 us-gaap Cash
Cash
41348000
CY2022Q4 us-gaap Cash
Cash
41348000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50114000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50114000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41348000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41348000
CY2023Q4 axti Cash And Cash Equivalents And Debt Securities Available For Sale Amortized Cost
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52274000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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20000
CY2023 axti Cash And Cash Equivalents And Debt Securities Available For Sale
CashAndCashEquivalentsAndDebtSecuritiesAvailableForSale
52254000
CY2022Q4 axti Cash And Cash Equivalents And Debt Securities Available For Sale Amortized Cost
CashAndCashEquivalentsAndDebtSecuritiesAvailableForSaleAmortizedCost
53108000
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303000
CY2022 axti Cash And Cash Equivalents And Debt Securities Available For Sale
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52805000
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2160000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
2140000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
9600000
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9339000
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2160000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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2118000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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2160000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2140000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
11760000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
11457000
CY2023 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
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20000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
2140000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
20000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
2140000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
20000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
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2118000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
42000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
8988000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
261000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
11106000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
303000
CY2023 axti Minority Investment Entities Not Consolidated Accounted For By Equity Method
MinorityInvestmentEntitiesNotConsolidatedAccountedForByEquityMethod
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CY2022 axti Minority Investment Entities Not Consolidated Accounted For By Equity Method
MinorityInvestmentEntitiesNotConsolidatedAccountedForByEquityMethod
6
CY2023Q4 axti Fair Value Asset Level1 To Level2 Transfers Amount
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CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
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32910000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
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46476000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
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50008000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
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39956000
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3585000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
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3197000
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86503000
CY2022Q4 us-gaap Inventory Net
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89629000
CY2023Q4 us-gaap Inventory Valuation Reserves
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21900000
CY2022Q4 us-gaap Inventory Valuation Reserves
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24700000
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78000
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166348000
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161017000
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8700000
CY2022 us-gaap Depreciation Depletion And Amortization
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8100000
CY2021 us-gaap Depreciation Depletion And Amortization
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7100000
CY2023Q4 us-gaap Equity Method Investments
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12476000
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12720000
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551000
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286000
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291000
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39000
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112000
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729000
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2010000
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1933000
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19019000
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CY2022Q4 us-gaap Investments
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1683000
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2236000
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1627000
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1230000
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18898000
CY2022Q4 us-gaap Other Assets Noncurrent
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21631000
CY2023Q4 axti Current Payable In Connection With Constructions
CurrentPayableInConnectionWithConstructions
7249000
CY2022Q4 axti Current Payable In Connection With Constructions
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4135000
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3707000
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4774000
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2901000
CY2022Q4 axti Preferred Stock Dividends Payable
PreferredStockDividendsPayable
2901000
CY2023Q4 us-gaap Accrued Professional Fees Current
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868000
CY2022Q4 us-gaap Accrued Professional Fees Current
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930000
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
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703000
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
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669000
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493000
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867000
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458000
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485000
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305000
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18164000
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47078000
CY2023Q4 us-gaap Short Term Borrowings
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883000
CY2023Q4 us-gaap Preferred Stock Shares Issued
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883000
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3532000
CY2023Q4 us-gaap Preferred Stock Value
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3532000
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CY2023Q4 us-gaap Preferred Stock Liquidation Preference
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4
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CY2022 axti Decrease In Additional Paid In Capital Investment In Subsidiary With Noncontrolling Interest
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14874000
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908000
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CY2021 us-gaap Treasury Stock Shares Acquired
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0
CY2022 us-gaap Treasury Stock Shares Acquired
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0
CY2023 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2023Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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2700000
CY2021 us-gaap Treasury Stock Shares Acquired
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0
CY2022 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2023 us-gaap Treasury Stock Shares Acquired
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0
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1198000
CY2023Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
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5.10
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P4Y1M2D
CY2023Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
1198000
CY2023Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
5.10
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0
CY2023 axti Period After Which All Full Time Employees Are Eligible To Participate In Savings Plan
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P90D
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186000
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3500000
CY2022 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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CY2021 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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4500000
CY2023 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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3540000
CY2022 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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4006000
CY2021 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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4519000
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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42104000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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41367000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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42643000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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42715000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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42720000
CY2023 axti Effect Of Stock Based Compensation On Basic Earnings Per Share
EffectOfStockBasedCompensationOnBasicEarningsPerShare
0.08
CY2022 axti Effect Of Stock Based Compensation On Basic Earnings Per Share
EffectOfStockBasedCompensationOnBasicEarningsPerShare
0.10
CY2021 axti Effect Of Stock Based Compensation On Basic Earnings Per Share
EffectOfStockBasedCompensationOnBasicEarningsPerShare
0.11
CY2023 axti Effect Of Stock Based Compensation On Diluted Earnings Per Share
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0.08
CY2022 axti Effect Of Stock Based Compensation On Diluted Earnings Per Share
EffectOfStockBasedCompensationOnDilutedEarningsPerShare
0.09
CY2021 axti Effect Of Stock Based Compensation On Diluted Earnings Per Share
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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191000
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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208000
CY2023 axti Period Of Warranty
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669000
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
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743000
CY2023 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
794000
CY2022 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1024000
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CY2022 us-gaap Product Warranty Accrual Preexisting Increase Decrease
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601000
CY2022 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
812000
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
703000
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
669000
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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20900000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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17600000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2200000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1100000
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CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
848000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
223000
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41000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
34000
CY2021 us-gaap Current State And Local Tax Expense Benefit
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91000
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CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
918000
CY2021 us-gaap Current Foreign Tax Expense Benefit
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3119000
CY2023 us-gaap Current Income Tax Expense Benefit
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CY2022 us-gaap Current Income Tax Expense Benefit
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1800000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
3433000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-188000
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
514000
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
980000
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred Other Tax Expense Benefit
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498000
CY2022 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
385000
CY2021 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
-2340000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
160000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2185000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1093000
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0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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