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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Total revenues $ 10,084 $ 15,878 $ 32,791 $ 46,102
Costs and expenses:        
Cost of revenues - intellectual property operations 9,847 9,930 28,748 27,912
Engineering and development expenses - industrial operations 172 156 593 491
Sales and marketing expenses - industrial operations 1,613 2,119 5,385 6,429
General and administrative expenses 13,872 15,038 35,338 36,813
Total costs and expenses 25,504 27,243 70,064 71,645
Operating loss (15,420) (11,365) (37,273) (25,543)
Equity securities investments:        
Change in fair value of equity securities 8,823 (36,352) 18,783 (266,202)
(Loss) gain on sale of equity securities 0 36,060 (9,360) 114,434
Earnings on equity investment in joint venture 3,375 850 3,375 42,935
Net realized and unrealized gain (loss) 12,198 558 12,798 (108,833)
Change in fair value of the Series A and B warrants and embedded derivatives 1,525 41,638 8,241 34,590
(Loss) gain on foreign currency exchange (70) (1,905) 25 (4,532)
Interest expense on Senior Secured Notes (130) (1,072) (1,930) (5,532)
Interest income and other, net 4,462 1,221 12,210 3,091
Total other income (expense) 17,985 40,440 31,344 (81,216)
Income (loss) before income taxes 2,565 29,075 (5,929) (106,759)
Income tax benefit (expense) 197 (679) (641) 14,399
Net income (loss) including noncontrolling interests in subsidiaries 2,762 28,396 (6,570) (92,360)
Net income attributable to noncontrolling interests in subsidiaries (1,126) (306) (1,126) (14,319)
Net income (loss) attributable to Acacia Research Corporation 1,636 28,090 (7,696) (106,679)
(Loss) income per share:        
Net (loss) income attributable to common stockholders - Basic $ (1,740) $ 20,587 $ (15,703) $ (112,507)
Weighted average number of shares outstanding - Basic 94,328,452 38,052,426 67,072,835 42,830,700
Basic net income (loss) per common share (in usd per share) $ (0.02) $ 0.54 $ (0.23) $ (2.63)
Net (loss) income attributable to common stockholders - Diluted $ (3,163) $ 1,531 $ (15,703) $ (112,507)
Weighted average number of shares outstanding - Diluted 99,122,973 71,164,236 67,072,835 42,830,700
Diluted net income (loss) per common share (in usd per share) $ (0.03) $ 0.02 $ (0.23) $ (2.63)
Intellectual property operations        
Revenues:        
Total revenues $ 1,760 $ 6,320 $ 6,330 $ 16,997
Costs and expenses:        
Cost of revenues - intellectual property operations 5,470 5,282 15,218 14,480
Industrial operations        
Revenues:        
Total revenues 8,324 9,558 26,461 29,105
Costs and expenses:        
Cost of revenues - intellectual property operations $ 4,377 $ 4,648 $ 13,530 $ 13,432