Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 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 per share calculations is as follows (in thousands, except per share data):

	Year ended
	December 31,
	2023		2022		2021
Numerator:
Net income (loss) attributable to AXT, Inc.	$	(17,881)	$	15,811	$	14,575
Less: Preferred stock dividends		(177)		(177)		(177)
Net income (loss) available to common stockholders	$	(18,058)	$	15,634	$	14,398
Denominator:
Denominator for basic net income (loss) per share - weighted-average common shares		42,643		42,104		41,367
Effect of dilutive securities:
Common stock options		—		333		803
Restricted stock awards		—		278		550
Denominator for dilutive net income (loss) per common shares		42,643		42,715		42,720
Net income (loss) attributable to AXT, Inc. per common share:
Basic	$	(0.42)	$	0.37	$	0.35
Diluted	$	(0.42)	$	0.37	$	0.34
Options excluded from diluted net income (loss) per share as the impact is anti-dilutive		1,198		220		21
Restricted stock excluded from diluted net income (loss) per share as the impact is anti-dilutive		1,258		291		118