Numerator:

Net loss attributable to AXT, Inc.

$

(21,260

)

$

(11,624

)

$

(17,881

)

Less: Preferred stock dividends

(177

)

(177

)

(177

)

Net loss available to common stockholders

$

(21,437

)

$

(11,801

)

$

(18,058

)

Denominator:

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

43,933

43,154

42,643

Effect of dilutive securities:

Common stock options

—

Restricted stock awards

—

Denominator for dilutive net loss per common shares

43,933

43,154

42,643

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

Basic

$

(0.49

)

$

(0.27

)

$

(0.42

)

Diluted

$

(0.49

)

$

(0.27

)

$

(0.42

)

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

834

1,175

1,198

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

2,210

1,842

1,258