INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of (loss) income before income taxes were as follows:

	Years Ended December 31,
	2024		2023
	(In thousands)
Domestic	$	(40,372)	$	70,912
Foreign	2,225		(3,486)
Total	$	(38,147)	$	67,426

Schedule of Effective Income Tax Rate Reconciliation

For purposes of reconciling the Company’s provision for income taxes at the statutory rate a notional 21% tax rate was applied as follows:

	Years Ended December 31,
	2024		2023
Statutory federal tax rate	21	%	21	%
Foreign rate differential	(5)	%	3	%
Noncontrolling interests in operating subsidiaries	1	%	(1)	%
Nondeductible permanent items	(1)	%	(1)	%
Expired tax attributes	(15)	%	6	%
Foreign tax credits	—	%	(3)	%
Derivative fair value adjustment	—	%	(3)	%
Transaction Costs	(2)	%	—	%
Valuation allowance	13	%	(27)	%
Other	(3)	%	1	%
Effective income tax rate	9	%	(2)	%

Schedule of Components of Income Tax Expense (Benefit)

Acacia’s income tax benefit (expense) for the periods presented consisted of the following:

	Years Ended December 31,
	2024		2023
	(In thousands)
Current:
Federal	$	(191)	$	(215)
State	(111)		37
Foreign	(2,812)		(1,975)
Total current	(3,114)		(2,153)
Deferred:
Federal	1,239		(14,041)
State	107		(925)
Foreign	376		593
Total deferred	1,722		(14,373)
Change in valuation allowance	4,841		18,030
Income tax benefit	$	3,449	$	1,504

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences and carryforwards that give rise to significant portions of deferred tax assets and liabilities consisted of the following:

	December 31,
	2024		2023
	(In thousands)
Deferred tax assets:
Net operating loss and capital loss carryforwards and credits	$	50,453	$	34,595
Unrealized loss on investments held at fair value	1,025		146
Compensation expense for share-based awards	693		1,095
Accrued expenses	3,677		1,453
Lease liability	2,010		689
State taxes	17		37
Total deferred tax assets	57,875		38,015
Valuation allowance	(26,250)		(30,219)
Total deferred tax assets, net of valuation allowance	31,625		7,796
Deferred tax liabilities:
ROU Asset	(1,956)		(680)
Fixed assets and intangibles	(8,062)		(1,841)
Basis of investment in affiliates	(3,983)		(2,360)
Other	—		—
Total deferred tax liabilities	(14,001)		(4,881)
Net deferred tax assets	$	17,624	$	2,915

Schedule of Unrecognized Tax Benefits Roll Forward

The following changes occurred in the amount of unrecognized tax benefits:

	Years Ended December 31,
	2024		2023
	(In thousands)
Beginning balance	$	757	$	760
Additions for current year tax positions	—		—
Additions included in purchase accounting for prior year positions	178		—
Reductions for prior year tax positions	—		(3)
Ending Balance (excluding interest and penalties)	935		757
Interest and penalties	—		—
Total	$	935	$	757