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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Total revenues $ 7,904 $ 16,717 $ 22,707 $ 30,224
Costs and expenses:        
Cost of revenues - intellectual property operations 8,943 9,226 18,901 17,982
Engineering and development expenses - industrial operations 205 145 421 335
Sales and marketing expenses - industrial operations 1,859 2,294 3,772 4,310
General and administrative expenses 9,426 10,722 21,466 21,775
Total costs and expenses 20,433 22,387 44,560 44,402
Operating loss (12,529) (5,670) (21,853) (14,178)
Equity securities investments:        
Change in fair value of equity securities 6,617 (57,647) 9,960 (229,850)
(Loss) gain on sale of equity securities (7,999) 11,498 (9,360) 78,374
Earnings on equity investment in joint venture 0 42,085 0 42,085
Net realized and unrealized (loss) gain (1,382) (4,064) 600 (109,391)
Change in fair value of the Series A and B warrants and embedded derivatives (9,935) (35,146) 6,716 (7,048)
Gain (loss) on foreign currency exchange 15 (1,814) 95 (2,627)
Interest expense on Senior Secured Notes (900) (1,859) (1,800) (4,460)
Interest income and other, net 4,307 863 7,748 1,870
Total other (expense) income (7,895) (42,020) 13,359 (121,656)
Loss before income taxes (20,424) (47,690) (8,494) (135,834)
Income tax benefit (expense) 1,645 200 (838) 15,078
Net loss including noncontrolling interests in subsidiaries (18,779) (47,490) (9,332) (120,756)
Net income attributable to noncontrolling interests in subsidiaries 0 (14,013) 0 (14,013)
Net loss attributable to Acacia Research Corporation (18,779) (61,503) (9,332) (134,769)
Loss per share:        
Net loss attributable to common stockholders - Basic $ (21,155) $ (63,443) $ (13,962) $ (138,560)
Weighted average number of shares outstanding - Basic 58,408,711 43,988,677 53,219,152 45,259,435
Basic net income (loss) per common share (in usd per share) $ (0.36) $ (1.44) $ (0.26) $ (3.06)
Net loss attributable to common stockholders - Diluted $ (21,155) $ (63,443) $ (13,962) $ (138,560)
Weighted average number of shares outstanding - Diluted 58,408,711 43,988,677 53,219,152 45,259,435
Diluted net income (loss) per common share (in usd per share) $ (0.36) $ (1.44) $ (0.26) $ (3.06)
Intellectual property operations        
Revenues:        
Total revenues $ 394 $ 8,062 $ 4,570 $ 10,677
Costs and expenses:        
Cost of revenues - intellectual property operations 5,010 4,634 9,748 9,198
Industrial operations        
Revenues:        
Total revenues 7,510 8,655 18,137 19,547
Costs and expenses:        
Cost of revenues - intellectual property operations $ 3,933 $ 4,592 $ 9,153 $ 8,784