Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2025

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

	Three Months Ended
	March 31,
	2025		2024
Numerator:
Net loss attributable to AXT, Inc.	$	(8,798)	$	(2,083)
Less: Preferred stock dividends		(44)		(44)
Net loss available to common stockholders	$	(8,842)	$	(2,127)
Denominator:
Denominator for basic net loss per share - weighted-average common shares		43,554		42,987
Effect of dilutive securities:
Common stock options		—		—
Restricted stock awards		—		—
Denominator for dilutive net loss per common shares		43,554		42,987
Net loss attributable to AXT, Inc. per common share:
Basic	$	(0.20)	$	(0.05)
Diluted	$	(0.20)	$	(0.05)
Options excluded from diluted net loss per share as the impact is anti-dilutive		1,175		1,189
Restricted stock excluded from diluted net loss per share as the impact is anti-dilutive		2,006		1,401