INCOME/LOSS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Calculation of basic and diluted net loss per share

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2021			2020			2021			2020
	(In thousands, except share and per share information)
Numerator:
Net income (loss) attributable to Acacia Research Corporation	$	89,604		$	38,348		$	(55,507	)	$	33,205
Dividend on Series A redeemable convertible preferred stock		(262	)		(467	)		(785	)		(1,118	)
Accretion of Series A redeemable convertible preferred stock		(991	)		(733	)		(2,762	)		(2,045	)
Undistributed earnings allocated to participating securities		(15,367	)		(6,619	)		–			(5,204	)
Net income (loss) attributable to common stockholders - Basic		72,984			30,529			(59,054	)		24,838
Add: Dividend on Series A redeemable convertible preferred stock		–			467			–			–
Add: Accretion of Series A redeemable convertible preferred stock		–			733			–			–
Less: Change in fair value of Series A redeemable convertible preferred stock embedded derivative		–			(3,831	)		–			–
Less: Change in fair value of Series A warrants		63			(1,348	)		–			(1,348	)
Less: Change in fair value of dilutive Series B warrants		(902	)		(5,557	)		–			(5,557	)
Add: Interest expense associated with Starboard Notes, net of tax		1,536			1,889			–			1,889
Add: Undistributed earnings allocated to participating securities		15,367			6,619			–			5,204
Reallocation of undistributed earnings to participating securities		(8,877	)		(296	)		–			(3,645	)
Net income (loss) attributable to common stockholders - Diluted	$	80,171		$	29,205		$	(59,054	)	$	21,381
Denominator:
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders - Basic		48,949,504			48,467,885			48,759,873			48,949,706
Potentially dilutive common shares:
Series A Preferred Stock		–			9,589,041			–			–
Restricted stock		798,356			728,936			–			598,328
Stock options		35,815			21,624			–			–
Series A Warrants		2,019,724			310,367			–			103,456
Series B Warrants		41,278,103			31,506,849			–			10,502,283
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders - Diluted		93,081,502			90,624,702			48,759,873			60,153,773
Basic net income (loss) per common share	$	1.49		$	0.63		$	(1.21	)	$	0.51
Diluted net income (loss) per common share	$	0.86		$	0.32		$	(1.21	)	$	0.36
Anti-dilutive potential common shares excluded from the computation of diluted net income (loss) per common share:
Equity-based incentive awards		398,168			191,312			2,230,624			310,083
Series A warrants		–			–			5,000,000			–
Series B warrants		–			68,493,151			100,000,000			68,493,151
Total		398,168			68,684,463			107,230,624			68,803,234