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3. INCOME (LOSS) PER SHARE (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Calculation of basic and diluted net loss per share


		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2020				2019				2020				2019
		(In thousands, except share and per share information)


Numerator:
Net income (loss) attributable to Acacia Research Corporation			38,348				(7,608	)			33,205				(17,749	)
Dividend on Series A redeemable convertible preferred stock			(467	)			–				(1,118	)			–
Accretion of Series A redeemable convertible preferred stock			(733	)			–				(2,045	)			–
Undistributed earnings allocated to participating securities			(6,619	)			–				(5,204	)			–
Net income (loss) attributable to common stockholders - basic			30,529				(7,608	)			24,838				(17,749	)

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			(1,348	)			–				(1,348	)			–
Less: Change in fair value of dilutive Series B warrants			(5,557	)			–				(5,557	)			–
Add: Interest expense associated with Starboard Notes, net of tax			1,889				–				1,889				–
Add: Undistributed earnings allocated to participating securities			6,619				–				5,204				–
Reallocation of undistributed earnings to participating securities			(296	)			–				(3,645	)			–
Net income (loss) attributable to common stockholders - diluted			29,204				(7,608	)			21,380				(17,749	)

Denominator:
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders - basic			48,467,885				49,828,361				48,949,706				49,727,385
Potentially dilutive common shares:
Series A Preferred Stock			9,589,041				–				–				–
Restricted stock units			728,936				–				598,328				–
Employee stock options			21,624				–				–				–
Series A Warrants			310,367				–				103,456				–
Series B Warrants			31,506,849				–				10,502,283				–
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders - diluted			90,624,702				49,828,361				60,153,773				49,727,385

Basic net income (loss) per common share		$	0.63			$	(0.15	)		$	0.51			$	(0.36	)
Diluted net income (loss) per common share		$	0.32			$	(0.15	)		$	0.36			$	(0.36	)


Anti-dilutive potential common shares excluded from the computation of diluted net income (loss) per common share:
Equity-based incentive awards			191,312				442,864				310,083				442,864
Series A warrants			–				–				–				–
Series B warrants			68,493,151				–				68,493,151				–
Total			68,684,463				442,864				68,803,234				442,864