Net Income (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Net Income (Loss) Per Share

Reconciliation of numerators and denominators of basic and diluted net income 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
	March 31,
	2023		2022
Numerator:
Net income (loss) attributable to AXT, Inc.	$	(3,348)	$	3,165
Less: Preferred stock dividends		(44)		(44)
Net income (loss) available to common stockholders	$	(3,392)	$	3,121
Denominator:
Denominator for basic net income (loss) per share - weighted-average common shares		42,498		41,871
Effect of dilutive securities:
Common stock options		—		474
Restricted stock awards		—		317
Denominator for dilutive net income (loss) per common shares		42,498		42,662
Net income (loss) attributable to AXT, Inc. per common share:
Basic	$	(0.08)	$	0.07
Diluted	$	(0.08)	$	0.07
Options excluded from diluted net income (loss) per share as the impact is anti-dilutive		1,203		201
Restricted stock excluded from diluted net income (loss) per share as the impact is anti-dilutive		1,081		218