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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Total revenues $ 25,838 $ 7,904 $ 50,158 $ 22,707
Costs and expenses:        
Cost of revenues - intellectual property operations 19,080 8,943 31,445 18,901
Engineering and development expenses - industrial operations 178 205 312 421
Sales and marketing expenses - industrial operations 1,387 1,859 2,942 3,772
General and administrative expenses 9,951 9,426 22,304 21,466
Total costs and expenses 30,596 20,433 57,003 44,560
Operating loss (4,758) (12,529) (6,845) (21,853)
Equity securities investments:        
Change in fair value of equity securities (4,744) 6,617 (31,445) 9,960
Gain (loss) on sale of equity securities 0 (7,999) 28,861 (9,360)
Net realized and unrealized (loss) gain (4,744) (1,382) (2,584) 600
Legal liability fee (6,613) 0 (12,856) 0
Change in fair value of the Series B warrants and embedded derivatives 0 (9,935) 0 6,716
(Loss) gain on foreign currency exchange (70) 15 (88) 95
Interest expense on Senior Secured Notes 0 (900) 0 (1,800)
Interest income and other, net 295 4,307 5,185 7,748
Total other (expense) income (11,132) (7,895) (10,343) 13,359
Loss before income taxes (15,890) (20,424) (17,188) (8,494)
Income tax benefit (expense) 7,061 1,645 8,170 (838)
Net loss including noncontrolling interests in subsidiaries (8,829) (18,779) (9,018) (9,332)
Net loss attributable to noncontrolling interests in subsidiaries 383 0 386 0
Net loss attributable to Acacia Research Corporation (8,446) (18,779) (8,632) (9,332)
Loss per share:        
Net loss attributable to common stockholders - Basic $ (8,446) $ (21,155) $ (8,632) $ (13,962)
Weighted average number of shares outstanding - Basic 100,079,803 58,408,711 99,912,854 53,219,152
Basic net income (loss) per common share (in usd per share) $ (0.08) $ (0.36) $ (0.09) $ (0.26)
Net loss attributable to common stockholders - Diluted $ (8,446) $ (21,155) $ (8,632) $ (13,962)
Weighted average number of shares outstanding - Diluted 100,079,803 58,408,711 99,912,854 53,219,152
Diluted net income (loss) per common share (in usd per share) $ (0.08) $ (0.36) $ (0.09) $ (0.26)
Intellectual property operations        
Revenues:        
Total revenues $ 5,333 $ 394 $ 18,956 $ 4,570
Costs and expenses:        
Cost of revenues - intellectual property operations 5,765 5,010 12,766 9,748
Industrial operations        
Revenues:        
Total revenues 6,335 7,510 15,176 18,137
Costs and expenses:        
Cost of revenues - intellectual property operations 3,277 3,933 7,326 9,153
Energy operations        
Revenues:        
Total revenues 14,170 0 16,026 0
Costs and expenses:        
Cost of revenues - intellectual property operations $ 10,038 $ 0 $ 11,353 $ 0