Three Months Ended

Nine Months Ended

September 30,

2021

2020

2021

2020

Numerator:

Net income attributable to AXT, Inc.

$

3,800

$

991

$

11,610

$

1,174

Less: Preferred stock dividends

(44)

(132)

Net income available to common stockholders

$

3,756

$

947

$

11,478

$

1,042

Denominator:

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

41,460

40,152

41,237

39,978

Effect of dilutive securities:

Common stock options

691

575

887

510

Restricted stock awards

527

252

586

200

Denominator for dilutive net income per common shares

42,678

40,979

42,710

40,688

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

Basic

$

0.09

$

0.02

$

0.28

$

0.03

Diluted

$

0.09

$

0.02

$

0.27

$

0.03

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

124

1,036

21

1,298

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

138

218

112

347