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Net Income (Loss) per Share | 12 Months Ended
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Dec. 31, 2023
Net Income (Loss) per Share |
Net Income (Loss) per Share | Note 13. Net Income (Loss) per Share Basic net income (loss) per share is computed using the weighted average number of common shares outstanding during the periods less shares of common stock subject to repurchase and non-vested stock awards. Diluted net income (loss) per share is computed using the weighted-average number of common shares outstanding and potentially dilutive common shares outstanding during the periods. The dilutive effect of outstanding stock options and restricted stock awards is reflected in diluted earnings per share by application of the treasury stock method. Potentially dilutive common shares consist of common shares issuable upon the exercise of stock options. Potentially dilutive common shares are excluded in net loss periods, as their effect would be anti-dilutive. 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 | ​
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