18. Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

18. QUARTERLY FINANCIAL DATA (unaudited)

The following table sets forth unaudited consolidated statements of operations data for the eight quarters in the period ended December 31, 2020. This information has been derived from Acacia’s unaudited condensed consolidated financial statements that have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, include all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the information when read in conjunction with the audited consolidated financial statements and related notes thereto. Acacia’s quarterly results have been, and may in the future be, subject to significant fluctuations. As a result, Acacia believes that results of operations for interim periods should not be relied upon as any indication of the results to be expected in any future periods.

	Quarter Ended
	Dec. 31,			Sept. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sept. 30,			Jun. 30,			Mar. 31,
	2020			2020			2020			2020			2019			2019			2019			2019
	(Unaudited, in thousands, except share and per share information)
Revenues	$	4,383		$	19,466		$	2,118		$	3,815		$	688		$	1,711		$	5,460		$	3,387
Portfolio operations:
Inventor royalties		506			5,772			645			426			192			776			2,623			1,353
Contingent legal fees		564			6,609			12			234			4			35			375			177
Patent acquisition expenses		–			–			–			–			–			–			–			–
Litigation and licensing expenses - patents		2,186			1,001			1,459			1,037			1,160			987			1,855			3,801
Amortization of patents		1,159			1,174			1,305			1,043			857			863			818			656
Other portfolio expenses		–			–			(74	)		(234	)		1,581			(475	)		–			650
Total portfolio operations		4,415			14,556			3,347			2,506			3,794			2,186			5,671			6,637
Net portfolio income (loss)		(32	)		4,910			(1,229	)		1,309			(3,106	)		(475	)		(211	)		(3,250	)
General and administrative expenses (including non-cash stock compensation expense)		6,387			7,692			5,519			4,878			4,328			4,630			3,763			3,655
Impairment of patent-related intangible assets		–			–			–			–			–			–			–			–
Operating income (loss)		(6,419	)		(2,782	)		(6,748	)		(3,569	)		(7,434	)		(5,105	)		(3,974	)		(6,905	)
Total other income (expense)		86,756			41,213			12,894			(9,060	)		5,921			(2,503	)		(1,774	)		2,821
Income (loss) before provision for income taxes		80,337			38,431			6,146			(12,629	)		(1,513	)		(7,608	)		(5,748	)		(4,084	)
Provision for income taxes		(98	)		(83	)		2			1,338			2,147			–			(9	)		(314	)
Net income (loss) including noncontrolling interests		80,239			38,348			6,148			(11,291	)		634			(7,608	)		(5,757	)		(4,398	)
Net (income) loss attributable to noncontrolling interests in subsidiaries		–			–			–			–			–			–			–			14
Net income (loss) attributable to Acacia Research Corporation	$	80,239		$	38,348		$	6,148		($	11,291	)	$	634		($	7,608	)	($	5,757	)	($	4,384	)
Net income (loss) attributable to common shareholders - basic	$	65,180		$	30,529		$	4,201		$	(12,185	)	$	327		$	(7,608	)	$	(5,757	)	$	(4,384	)
Basic income (loss) per share	$	1.34		$	0.63		$	0.09		($	0.24	)	$	0.01		($	0.15	)	($	0.12	)	($	0.09	)
Weighted-average number of shares outstanding, basic		48,508,903			48,467,885			48,457,620			49,875,396			49,875,750			49,828,361			49,696,016			49,655,881
Net loss attributable to common stockholders - diluted	$	65,352		$	29,204		$	4,201		$	(12,185	)	$	(2,624	)	$	(7,608	)	$	(5,757	)	$	(4,384	)
Diluted net income (loss) per common share	$	1.33		$	0.32		$	0.09		($	0.24	)	($	0.05	)	($	0.15	)	($	0.12	)	($	0.09	)
Weighted average number of shares outstanding - diluted		49,244,141			90,624,702			49,033,824			49,875,396			54,406,835			49,828,361			49,696,016			49,655,881