INCOME/LOSS PER SHARE

12 Months Ended

Dec. 31, 2024

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


	Years Ended December 31,
		2024		2023
		(In thousands, except share and per share data)
Numerator:
Net (loss) income attributable to Acacia Research Corporation		$	(36,057)	$	67,060
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)
Undistributed earnings allocated to participating securities		—		(3,913)
Net (loss) income attributable to common stockholders - Basic		(36,057)		55,140





Less: Change in fair value and gain on exercise of dilutive Series B warrants		—		(4,287)

Add: Interest expense associated with Starboard Notes, net of tax		—		1,518
Add: Undistributed earnings allocated to participating securities		—		3,913
Reallocation of undistributed earnings to participating securities		—		(3,076)
Net (loss) income attributable to common stockholders - Diluted		$	(36,057)	$	53,208

Denominator:
Weighted average shares used in computing net income (loss) per share attributable to common stockholders - Basic		99,213,835		75,296,025
Potentially dilutive common shares:


Employee stock options and restricted stock units		—		163,738

Series B Warrants		—		16,952,055
Weighted average shares used in computing net income (loss) per share attributable to common stockholders - Diluted		99,213,835		92,411,818

Basic net (loss) income per common share		$	(0.36)	$	0.73
Diluted net (loss) income per common share		$	(0.36)	$	0.58

Anti-dilutive potential common shares excluded from the computation of diluted net income/loss per share:
Equity-based incentive awards		3,883,847		2,098,747

Series B warrants		—		—
Total		3,883,847		2,098,747