Net Income (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Net Income (Loss) Per Share

Reconciliation of numerators and denominators of basic and diluted net income (loss) per share

A reconciliation of the numerators and denominators of the basic and diluted net income (loss) per share calculations is as follows (in thousands, except per share data):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Numerator:
Net income attributable to AXT, Inc.	$	5,759	$	3,800	$	14,470	$	11,610
Less: Preferred stock dividends		(44)		(44)		(132)		(132)
Net income available to common stockholders	$	5,715	$	3,756	$	14,338	$	11,478
Denominator:
Denominator for basic net income per share - weighted-average common shares		42,163		41,460		42,011		41,237
Effect of dilutive securities:
Common stock options		440		691		399		887
Restricted stock awards		379		527		308		586
Denominator for dilutive net income per common shares		42,982		42,678		42,718		42,710
Net income attributable to AXT, Inc. per common share:
Basic	$	0.14	$	0.09	$	0.34	$	0.28
Diluted	$	0.13	$	0.09	$	0.34	$	0.27
Options excluded from diluted net income per share as the impact is anti-dilutive		184		124		201		21
Restricted stock excluded from diluted net income per share as the impact is anti-dilutive		69		138		202		112