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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 162,564 $ 57,359
Trading securities - debt 0 93,843
Trading securities - equity 24,471 17,140
Equity securities - private 116,009 0
Equity securities derivative 17,818 0
Equity securities forward contract 340 0
Prepaid investment 42,900 0
Accounts receivable 263 511
Prepaid expenses and other current assets 1,685 2,912
Total current assets 366,050 171,765
Long-term restricted cash 35,000 35,000
Investment at fair value (Note 5) 982 1,500
Patents, net of accumulated amortization 18,071 7,814
Leased right-of-use assets 1,101 1,264
Other non-current assets 5,311 818
Total assets 426,515 218,161
Current liabilities:    
Accounts payable 2,707 1,765
Accrued expenses and other current liabilities 4,849 7,265
Accrued compensation 2,595 507
Royalties and contingent legal fees payable 14,230 2,178
Senior Secured Notes Payable - short-term 113,933 0
Total current liabilities 138,314 11,715
Series A warrant liabilities 5,604 3,568
Series A embedded derivative liabilities 25,682 17,974
Series B warrant liabilities 42,796 0
Long-term lease liabilities 1,101 1,264
Other long-term liabilities 593 593
Total liabilities 214,090 35,114
Series A redeemable convertible preferred stock, par value $0.001 per share; stated value $100 per share; 350,000 shares authorized, issued and outstanding as of September 30, 2020 and December 31, 2019, respectively; aggregate liquidation preference of $35,000 as of September 30, 2020 and December 31, 2019, respectively 10,134 8,089
Stockholders' equity:    
Preferred stock, par value $0.001 per share; 10,000,000 shares authorized; no shares issued or outstanding 0 0
Common stock, par value $0.001 per share; 300,000,000 shares authorized; 49,279,453 and 50,370,987 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively 49 50
Treasury stock, at cost, 4,604,365 and 2,919,828 shares as of September 30, 2020 and December 31, 2019, respectively (43,270) (39,272)
Additional paid-in capital 650,130 652,003
Accumulated deficit (406,451) (439,656)
Total Acacia Research Corporation stockholders' equity 200,458 173,125
Noncontrolling interests 1,833 1,833
Total stockholders' equity 202,291 174,958
Total liabilities, redeemable convertible preferred stock, and stockholders' equity $ 426,515 $ 218,161