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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Total revenues $ 15,878 $ 1,582 $ 46,102 $ 24,785
Costs and expenses:        
Cost of revenues - intellectual property operations 9,930   27,912  
Engineering and development expenses - industrial operations 156 0 491 0
Sales and marketing expenses - industrial operations 2,119 0 6,429 0
General and administrative expenses 15,038 10,345 36,813 23,014
Total costs and expenses 27,243 14,304 71,645 41,539
Operating loss (11,365) (12,722) (25,543) (16,754)
Equity securities investments:        
Change in fair value of equity securities (36,352) 66,502 (266,202) 115,509
Gain on sale of equity securities 36,060 37,688 114,434 53,124
Earnings on equity investment in joint venture 850 0 42,935 2,737
Net realized and unrealized gain (loss) 558 104,190 (108,833) 171,370
Change in fair value of investment 0 0 0 (2,752)
Gain on sale of investment 0 0 0 3,591
Change in fair value of the Series A and B warrants and embedded derivatives 41,638 619 34,590 (203,866)
Loss on foreign currency exchange (1,905) (17) (4,532) (193)
Interest expense on Senior Secured Notes (1,072) (2,378) (5,532) (5,142)
Interest income and other, net 1,221 76 3,091 135
Total other income (expense) 40,440 102,490 (81,216) (36,857)
Income (loss) before income taxes 29,075 89,768 (106,759) (53,611)
Income tax (expense) benefit (679) (11) 14,399 (531)
Net income (loss) including noncontrolling interests in subsidiaries 28,396 89,757 (92,360) (54,142)
Net income attributable to noncontrolling interests in subsidiaries (306) 0 (14,319) (906)
Net income (loss) attributable to Acacia Research Corporation 28,090 89,757 (106,679) (55,048)
Income (loss) per share:        
Net income (loss) attributable to common stockholders - Basic $ 20,587 $ 73,110 $ (112,507) $ (58,595)
Weighted average number of shares outstanding - Basic 38,052,426 48,949,504 42,830,700 48,759,873
Basic net income (loss) per common share (in usd per share) $ 0.54 $ 1.49 $ (2.63) $ (1.20)
Net income (loss) attributable to common stockholders - Diluted $ 1,531 $ 80,308 $ (112,507) $ (58,595)
Weighted average number of shares outstanding - Diluted 71,164,236 93,081,502 42,830,700 48,759,873
Diluted net income (loss) per common share (in usd per share) $ 0.02 $ 0.86 $ (2.63) $ (1.20)
Intellectual property operations        
Revenues:        
Total revenues $ 6,320 $ 1,582 $ 16,997 $ 24,785
Costs and expenses:        
Cost of revenues - intellectual property operations 5,282 3,959 14,480 18,525
Industrial operations        
Revenues:        
Total revenues 9,558 0 29,105 0
Costs and expenses:        
Cost of revenues - intellectual property operations $ 4,648 $ 0 $ 13,432 $ 0