Three Months Ended

June 30,

Six Months Ended

June 30,

2020

2019

2020

2019

(In thousands, except share and per share information)

Numerator:

Net income (loss) attributable to Acacia Research Corporation

$

6,148

$

(5,757

)

$

(5,143

)

$

(10,141

)

Dividend on Series A redeemable convertible preferred stock

(388

)

–

(651

)

–

Accretion of Series A redeemable convertible preferred stock

(680

)

–

(1,311

)

–

Undistributed earnings allocated to participating securities

(879

)

–

Net income (loss) attributable to common stockholders - basic and diluted

4,201

(5,757

)

(7,105

)

(10,141

)

Denominator:

Weighted-average shares used in computing net income (loss) per share attributable to common stockholders - basic

48,457,620

49,696,016

49,166,508

49,676,059

Potentially dilutive common shares:

Restricted stock units

576,204

–

Weighted-average shares used in computing net income (loss) per share attributable to common stockholders - diluted

49,033,824

49,696,016

49,166,508

49,676,059

Basic net income (loss) per common share

$

0.09

$

(0.12

)

$

(0.14

)

$

(0.20

)

Diluted net income (loss) per common share

$

0.09

$

(0.12

)

$

(0.14

)

$

(0.20

)

Anti-dilutive potential common shares excluded from the computation of diluted net income (loss) per common share:

Equity-based incentive awards

476,583

1,766,191

2,321,016

1,766,191

Series A warrants

5,000,000

–

5,000,000

–

Series B warrants

100,000,000

–

100,000,000

–

Total

105,476,583

1,766,191

107,321,016

1,766,191