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2. Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2019
Accounting Policies [Abstract] |
Disaggregation of revenue |
|  | 2019 |  |  | 2018 |
|  | (In thousands) |
Paid-up Revenue Agreements |  | $ | 6,343 |  |  | $ | 100,496 |
Recurring Revenue Agreements |  |  | 4,903 |  |  |  | 13,040 |
Other Settlements |  |  | – |  |  |  | 3,470 |
Sales |  |  | – |  |  |  | 14,500 |
|  | $ | 11,246 |  |  | $ | 131,506 |
Schedule of fair value of financial assets and liabilities on a recurring basis |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  |  |  |  | (In thousands) |  |  |  |
Assets as of December 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |
Trading securities - debt |  | $ | – |  |  | $ | 93,843 |  |  | $ | – |
Trading securities - equity |  |  | 17,140 |  |  |  | – |  |  |  | – |
Investment at fair value - warrants (Note 6) |  |  | – |  |  |  | 757 |  |  |  | – |
Investment at fair value - common stock (Note 6) |  |  | 743 |  |  |  | – |  |  |  | – |
Total recurring fair value measurements as of December 31, 2019 |  | $ | 17,883 |  |  | $ | 94,600 |  |  | $ | – |
Assets as of December 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |
Trading securities - debt |  | $ | – |  |  | $ | 33,642 |  |  | $ | – |
Trading securities - equity |  |  | 3,012 |  |  |  | – |  |  |  | – |
Investment at fair value - warrants (Note 6) |  |  | – |  |  |  | 2,064 |  |  |  | – |
Investment at fair value - common stock (Note 6) |  |  | 5,395 |  |  |  | – |  |  |  | – |
Total recurring fair value measurements as of December 31, 2018 |  | $ | 8,407 |  |  | $ | 35,706 |  |  | $ | – |
Liabilities as of December 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |
Profits interest units |  | $ | – |  |  | $ | 591 |  |  | $ | – |
Series A warrants |  |  | – |  |  |  | 3,568 |  |  |  | – |
Embedded derivative liability |  |  | – |  |  |  | – |  |  |  | 17,974 |
Total liabilities as of December 31, 2019 |  | $ | – |  |  | $ | 4,159 |  |  | $ | 17,974 |
Liabilities as of December 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |
Profits interest units |  | $ | – |  |  | $ | 591 |  |  | $ | – |
Total liabilities as of December 31, 2018 |  | $ | – |  |  | $ | 591 |  |  | $ | – |
Summary of changes in finacial liability Level 3 |
|  | Embedded Derivative |
|  | (In thousands) |
Opening balance as of January 1, 2019 |  | $ | – |
Issuance of Series A redeemable convertible preferred stock with embedded derivative |  |  | 21,232 |
Remeasurement of Series A redeemable convertible preferred stock embedded derivative to fair value |  |  | (3,258 | )
Total Level 3 recurring fair value measurements as of December 31, 2019 |  | $ | 17,974 |
Schedule of useful lives of property and equipment |
Furniture and fixtures | 3 to 5 years
Computer hardware and software | 3 to 5 years
Leasehold improvements | 2 to 5 years (Lesser of lease term or useful life of improvement)
Stock-based compensation assumptions used | The fair values of stock options granted during the year ended December 31, 2018 were estimated using the Black-Scholes option-pricing model, based on the following weighted-average assumptions:
|  | For the Year Ended December 31, 2018
Risk-free interest rate |  | 2.26%
Term |  | 4.37
Volatility |  | 51%
Dividend yield |  | –%
Calculation of basic and diluted loss per common share |
|  | 2019 |  |  | 2018 |
|  | (In thousands, except percentage change values) |
Basic |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net loss attributable to Acacia Research Corporation |  |  | (17,115 | ) |  |  | (105,029 | )
Accretion of Series A Redeemable Convertible Preferred Stock |  |  | (307 | ) |  |  | – |
Net loss attributable to common stockholders - basic |  |  | (17,422 | ) |  |  | (105,029 | )
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares used in computing net loss per share attributable to common stockholders - basic |  |  | 49,764,002 |  |  |  | 49,969,062 |
Basic net loss per share of common stock |  | $ | (0.35 | ) |  | $ | (2.10 | )
Diluted |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net loss attributable to Acacia Research Corporation |  |  | (17,115 | ) |  |  | (105,029 | )
Mark-to-market adjustment for preferred stock embedded derivative |  |  | (3,258 | ) |  |  | – |
Net loss attributable to common stockholders - diluted |  |  | (20,373 | ) |  |  | (105,029 | )
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares used in computing net loss per share attributable to common stockholders - basic |  |  | 49,764,002 |  |  |  | 49,969,062 |
Effect of potentially dilutive securities: Series A preferred stock |  |  | 1,132,771 |  |  |  | – |
Weighted-average shares used in computing net loss per share attributable to common stockholders - diluted |  |  | 50,896,773 |  |  |  | 49,969,062 |
Diluted net loss per share of common stock |  | $ | (0.40 | ) |  | $ | (2.10 | )

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