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18. Quarterly Financial Data (Tables) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Schedule of quarterly financial data (Unaudited) |
| Quarter Ended |
| Dec. 31, |  | Sept. 30, |  | Jun. 30, |  | Mar. 31, |  | Dec. 31, |  | Sept. 30, |  | Jun. 30, |  | Mar. 31, |
| 2019 |  | 2019 |  | 2019 |  | 2019 |  | 2018 |  | 2018 |  | 2018 |  | 2018 |
| (Unaudited, in thousands, except share and per share information) |
Revenues | $ | 688 |  | $ | 1,711 |  | $ | 5,460 |  | $ | 3,387 |  | $ | 49,203 |  | $ | 13,725 |  | $ | 6,485 |  | $ | 62,093 |
Portfolio operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inventor royalties |  | 192 |  |  | 776 |  |  | 2,623 |  |  | 1,353 |  |  | 11,002 |  |  | 1,181 |  |  | 1,241 |  |  | 21,744 |
Contingent legal fees |  | 4 |  |  | 35 |  |  | 375 |  |  | 177 |  |  | 11,756 |  |  | 2,949 |  |  | 1,037 |  |  | 15,759 |
Patent acquisition expenses |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | 4,000 |
Litigation and licensing expenses - patents |  | 1,160 |  |  | 987 |  |  | 1,855 |  |  | 3,801 |  |  | 1,689 |  |  | 1,549 |  |  | 2,639 |  |  | 2,989 |
Amortization of patents |  | 857 |  |  | 863 |  |  | 818 |  |  | 656 |  |  | 11,560 |  |  | 4,952 |  |  | 5,278 |  |  | 5,330 |
Other portfolio expenses (income) |  | 1,581 |  |  | (475 | ) |  | – |  |  | 650 |  |  | 400 |  |  | 2,202 |  |  | – |  |  | – |
Total portfolio operations |  | 3,794 |  |  | 2,186 |  |  | 5,671 |  |  | 6,637 |  |  | 36,407 |  |  | 12,833 |  |  | 10,195 |  |  | 49,822 |
Net portfolio income (loss) |  | (3,106 | ) |  | (475 | ) |  | (211 | ) |  | (3,250 | ) |  | 12,796 |  |  | 892 |  |  | (3,710 | ) |  | 12,271 |
General and administrative expenses (including non-cash stock compensation expense) |  | 4,328 |  |  | 4,630 |  |  | 3,763 |  |  | 3,655 |  |  | 2,754 |  |  | 5,855 |  |  | 6,916 |  |  | 3,301 |
Impairment of patent-related intangible assets |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | 28,210 |  |  | – |
Operating income (loss) |  | (7,434 | ) |  | (5,105 | ) |  | (3,974 | ) |  | (6,905 | ) |  | 10,042 |  |  | (4,963 | ) |  | (38,836 | ) |  | 8,970 |
Total other income (expense) |  | 5,921 |  |  | (2,503 | ) |  | (1,774 | ) |  | 2,821 |  |  | (21,012 | ) |  | (27,595 | ) |  | 10,615 |  |  | (40,890 | )
Income (loss) before provision for income taxes |  | (1,513 | ) |  | (7,608 | ) |  | (5,748 | ) |  | (4,084 | ) |  | (10,970 | ) |  | (32,558 | ) |  | (28,221 | ) |  | (31,920 | )
Provision for income taxes |  | 2,147 |  |  | – |  |  | (9 | ) |  | (314 | ) |  | (397 | ) |  | (306 | ) |  | (285 | ) |  | (191 | )
Net income (loss) including noncontrolling interests |  | 634 |  |  | (7,608 | ) |  | (5,757 | ) |  | (4,398 | ) |  | (11,367 | ) |  | (32,864 | ) |  | (28,506 | ) |  | (32,111 | )
Net (income) loss attributable to noncontrolling interests in subsidiaries |  | – |  |  | – |  |  | – |  |  | 14 |  |  | (2 | ) |  | (331 | ) |  | 79 |  |  | 73 |
Net income (loss) attributable to Acacia Research Corporation | $ | 634 |  | $ | (7,608 | ) | $ | (5,757 | ) | $ | (4,384 | ) | $ | (11,369 | ) | $ | (33,195 | ) | $ | (28,427 | ) | $ | (32,038 | )
Less: Accretion of redeemable preferred stock |  | (307 | ) |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |
Net income (loss) attributable to common shareholders – basic: | $ | 327 |  | $ | (7,608 | ) | $ | (5,757 | ) | $ | (4,384 | ) | $ | (11,369 | ) | $ | (33,195 | ) | $ | (28,427 | ) | $ | (32,038 | )
Basic income (loss) per share | $ | 0.01 |  | $ | (0.15 | ) | $ | (0.12 | ) | $ | (0.09 | ) | $ | (0.23 | ) | $ | (0.67 | ) | $ | (0.57 | ) | $ | (0.63 | )
Weighted-average number of shares outstanding, basic |  | 49,875,750 |  |  | 49,828,361 |  |  | 49,696,016 |  |  | 49,655,881 |  |  | 49,639,172 |  |  | 49,557,748 |  |  | 50,061,812 |  |  | 50,632,958 |
Add: Accretion of redeemable preferred stock |  | 307 |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |
Less: Mark-to-market adjustment for preferred stock embedded derivative |  | (3,258 | ) |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |
Net loss attributable to common shareholders – diluted: | $ | (2,624 | ) | $ | (7,608 | ) | $ | (5,757 | ) | $ | (4,384 | ) | $ | (11,369 | ) | $ | (33,195 | ) | $ | (28,427 | ) | $ | (32,038 | )
Diluted income (loss) per share | $ | (0.05 | ) | $ | (0.15 | ) | $ | (0.12 | ) | $ | (0.09 | ) | $ | (0.23 | ) | $ | (0.67 | ) | $ | (0.57 | ) | $ | (0.63 | )
Weighted-average number of shares outstanding, diluted |  | 54,406,835 |  |  | 49,828,361 |  |  | 49,696,016 |  |  | 49,655,881 |  |  | 49,639,172 |  |  | 49,557,748 |  |  | 50,061,812 |  |  | 50,632,958 |
Restated quarterly period report |
|  | Three months ended |  |  | Three months ended |  |  | Three months ended |
|  | March 31, 2019 |  |  | June 30, 2019 |  |  | September 30, 2019 |
|  | As reported |  |  | As adjusted |  |  | As reported |  |  | As adjusted |  |  | As reported |  |  | As adjusted |
Net cash provided by (used in) operating activities |  |  | (58,812 | ) |  |  | (1,958 | ) |  |  | (66,026 | ) |  |  | (2,268 | ) |  |  | (65,748 | ) |  |  | (846 | )
Net cash provided by (used in) investing activities |  |  | 3,288 |  |  |  | (53,566 | ) |  |  | 625 |  |  |  | (63,133 | ) |  |  | 3,721 |  |  |  | (61,181 | )
Net cash provided by financing activities |  |  | – |  |  |  | – |  |  |  | 79 |  |  |  | 79 |  |  |  | 79 |  |  |  | 79 |
Increase/(decrease) in cash and cash equivalent |  |  | (55,524 | ) |  |  | (55,524 | ) |  |  | (65,322 | ) |  |  | (65,322 | ) |  |  | (61,948 | ) |  |  | (61,948 | )

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