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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 355,188 $ 287,786
Equity securities 52,853 61,608
Equity securities without readily determinable fair value 5,816 5,816
Equity method investments 30,934 30,934
Accounts receivable, net 6,267 8,231
Inventories 14,006 14,222
Prepaid expenses and other current assets 20,728 19,388
Total current assets 485,792 427,985
Property, plant and equipment, net 2,950 3,537
Goodwill 7,541 7,541
Other intangible assets, net 30,590 36,658
Leased right-of-use assets 910 2,005
Other non-current assets 6,925 5,202
Total assets 534,708 482,928
Current liabilities:    
Accounts payable 5,789 6,036
Accrued expenses and other current liabilities 4,461 14,058
Accrued compensation 5,505 4,737
Royalties and contingent legal fees payable 579 699
Accrued patent costs 0 9,000
Deferred revenue 1,022 1,229
Senior secured notes payable 60,450 60,450
Total current liabilities 77,806 87,209
Deferred revenue, net of current portion 535 568
Series A embedded derivative liabilities 12,881 16,835
Series B warrant liabilities 82,018 84,780
Long-term lease liabilities 898 1,873
Deferred income tax liabilities, net 125 742
Other long-term liabilities 1,858 1,675
Total liabilities 176,121 193,682
Commitments and contingencies
Series A redeemable convertible preferred stock, par value $0.001 per share; stated value $100 per share; 350,000 shares authorized, issued and outstanding as of June 30, 2023 and December 31, 2022; aggregate liquidation preference of $35,000 as of June 30, 2023 and December 31, 2022 23,154 19,924
Stockholders' equity:    
Preferred stock, par value $0.001 per share; 10,000,000 shares authorized; no shares issued or outstanding 0 0
Common stock, par value $0.001 per share; 300,000,000 shares authorized; 58,754,795 and 43,484,867 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively 58 43
Treasury stock, at cost, 16,183,703 shares as of June 30, 2023 and December 31, 2022 (98,258) (98,258)
Additional paid-in capital 738,712 663,284
Accumulated deficit (316,121) (306,789)
Total Acacia Research Corporation stockholders' equity 324,391 258,280
Noncontrolling interests 11,042 11,042
Total stockholders' equity 335,433 269,322
Total liabilities, redeemable convertible preferred stock, and stockholders' equity $ 534,708 $ 482,928
Treasury Stock, Common, Shares 16,183,703