Three Months Ended

Nine Months Ended

September 30,

2020

2019

2020

2019

Numerator:

Net income (loss) attributable to AXT, Inc.

$

991

$

(898)

$

1,174

$

(551)

Less: Preferred stock dividends

(44)

(132)

Net income (loss) available to common stockholders

$

947

$

(942)

$

1,042

$

(683)

Denominator:

Denominator for basic net income (loss) per share - weighted-average common shares

40,152

39,466

39,978

39,438

Effect of dilutive securities:

Common stock options

575

—

510

—

Restricted stock awards

252

—

200

—

Denominator for dilutive net income (loss) per common shares

40,979

39,466

40,688

39,438

Net income (loss) attributable to AXT, Inc. per common share:

Basic

$

0.02

$

(0.02)

$

0.03

$

(0.02)

Diluted

$

0.02

$

(0.02)

$

0.03

$

(0.02)

Options excluded from diluted net income (loss) per share as the impact is anti-dilutive

1,036

2,523

1,298

2,523

Restricted stock excluded from diluted net income (loss) per share as the impact is anti-dilutive

218

698

347

698