INCOME/LOSS PER SHARE

9 Months Ended

Sep. 30, 2024

The following table presents the calculation of basic and diluted income/loss per share of common stock:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands, except share and per share data)
Numerator:
Net (loss) income attributable to Acacia Research Corporation	$	(13,996)	$	1,636	$	(22,628)	$	(7,696)
Dividend on Series A redeemable convertible preferred stock	—		—		—		(1,400)
Accretion of Series A redeemable convertible preferred stock	—		—		—		(3,230)
Return on settlement of Series A redeemable convertible preferred stock	—		(3,377)		—		(3,377)

Net loss attributable to common stockholders - Basic	(13,996)		(1,741)		(22,628)		(15,703)






Less: Gain on exercise of Series B warrants	—		(1,525)		—		—
Add: Interest expense associated with Starboard Notes, net of tax	—		102		—		—


Net loss attributable to common stockholders - Diluted	$	(13,996)	$	(3,164)	$	(22,628)	$	(15,703)

Denominator:
Weighted average shares used in computing net income (loss) per share attributable to common stockholders - Basic	99,854,723		94,328,452		99,893,336		67,072,835
Potentially dilutive common shares:




Series B Warrants	—		4,794,521		—		—
Weighted average shares used in computing net income (loss) per share attributable to common stockholders - Diluted	99,854,723		99,122,973		99,893,336		67,072,835

Basic net loss per common share	$	(0.14)	$	(0.02)	$	(0.23)	$	(0.23)
Diluted net loss per common share	$	(0.14)	$	(0.03)	$	(0.23)	$	(0.23)

Anti-dilutive potential common shares excluded from the computation of diluted net income/loss per share:
Equity-based incentive awards	3,898,180		3,894,709		3,898,180		4,706,140

Series B warrants	—		—		—		31,506,849
Total	3,898,180		3,894,709		3,898,180		36,212,989