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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Total revenues $ 51,237 $ 25,838 $ 175,659 $ 50,158
Costs and expenses:        
Cost of revenues - intellectual property operations 44,695 19,080 110,180 31,445
Sales and marketing expenses - industrial and manufacturing operations 3,381 1,387 6,693 2,942
General and administrative expenses 15,546 10,129 32,866 22,616
Total costs and expenses 63,622 30,596 149,739 57,003
Operating income (loss) (12,385) (4,758) 25,920 (6,845)
Equity securities investments:        
Change in fair value of equity securities 2,219 (4,744) (2,558) (31,445)
Gain on sale of equity securities 1,907 0 3,512 28,861
Net realized and unrealized gain (loss) 4,126 (4,744) 954 (2,584)
Non-recurring legacy legal expense 0 (6,613) 0 (12,856)
Gain (loss) on derivatives - energy operations 6,635 (2,659) 1,614 (2,488)
Gain (loss) on foreign currency exchange 280 (134) 435 (202)
Interest expense (2,329) (1,814) (4,780) (2,140)
Interest income 2,936 4,991 5,446 10,033
Other expense, net (153) (159) (870) (106)
Total other income (expense) 11,495 (11,132) 2,799 (10,343)
Income (loss) before income taxes (890) (15,890) 28,719 (17,188)
Income tax (expense) benefit (547) 7,061 (6,628) 8,170
Net income (loss) including noncontrolling interests in subsidiaries (1,437) (8,829) 22,091 (9,018)
Net (income) loss attributable to noncontrolling interests in subsidiaries (1,856) 383 (1,097) 386
Net income (loss) attributable to Acacia Research Corporation (3,293) (8,446) 20,994 (8,632)
Income (loss) per share:        
Net income (loss) attributable to common stockholders - Basic $ (3,293) $ (8,446) $ 20,994 $ (8,632)
Weighted average number of shares outstanding - Basic 96,244,590 100,079,803 96,131,624 99,912,854
Basic net income (loss) per common share (in usd per share) $ (0.03) $ (0.08) $ 0.22 $ (0.09)
Net income (loss) attributable to common stockholders - Diluted $ (3,293) $ (8,446) $ 20,994 $ (8,632)
Weighted average number of shares outstanding - Diluted 96,244,590 100,079,803 96,964,308 99,912,854
Diluted net income (loss) per common share (in usd per share) $ (0.03) $ (0.08) $ 0.22 $ (0.09)
Foreign currency translation $ 863 $ 0 $ 1,525 $ 0
Other comprehensive income 863 0 1,525 0
Total comprehensive income (loss) (574) (8,829) 23,616 (9,018)
Comprehensive (income) loss attributable to noncontrolling interests (1,856) 383 (1,097) 386
Comprehensive income (loss) attributable to Acacia Research Corporation (2,430) (8,446) 22,519 (8,632)
Intellectual property operations        
Revenues:        
Total revenues 329 5,333 70,234 18,956
Costs and expenses:        
Cost of revenues - intellectual property operations 6,558 5,765 34,470 12,766
Industrial operations        
Revenues:        
Total revenues 6,590 6,335 14,266 15,176
Costs and expenses:        
Cost of revenues - intellectual property operations 3,406 3,277 7,470 7,326
Energy operations        
Revenues:        
Total revenues 15,317 14,170 33,623 16,026
Costs and expenses:        
Cost of revenues - intellectual property operations 12,309 10,038 25,007 11,353
Manufacturing Operations        
Revenues:        
Total revenues 29,001 0 57,536 0
Costs and expenses:        
Cost of revenues - intellectual property operations $ 22,422 $ 0 $ 43,233 $ 0