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18. Quarterly Financial Data (Tables) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Schedule of quarterly financial data (Unaudited) | Acacia’s quarterly results have been, and may in the future be, subject to significant fluctuations. As a result, Acacia believes that results of operations for interim periods should not be relied upon as any indication of the results to be expected in any future periods.
| Quarter Ended |
| Dec. 31, |  | Sept. 30, |  | Jun. 30, |  | Mar. 31, |  | Dec. 31, |  | Sept. 30, |  | Jun. 30, |  | Mar. 31, |
| 2020 |  | 2020 |  | 2020 |  | 2020 |  | 2019 |  | 2019 |  | 2019 |  | 2019 |
| (Unaudited, in thousands, except share and per share information) |
Revenues | $ | 4,383 |  | $ | 19,466 |  | $ | 2,118 |  | $ | 3,815 |  | $ | 688 |  | $ | 1,711 |  | $ | 5,460 |  | $ | 3,387 |
Portfolio operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inventor royalties |  | 506 |  |  | 5,772 |  |  | 645 |  |  | 426 |  |  | 192 |  |  | 776 |  |  | 2,623 |  |  | 1,353 |
Contingent legal fees |  | 564 |  |  | 6,609 |  |  | 12 |  |  | 234 |  |  | 4 |  |  | 35 |  |  | 375 |  |  | 177 |
Patent acquisition expenses |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |
Litigation and licensing expenses - patents |  | 2,186 |  |  | 1,001 |  |  | 1,459 |  |  | 1,037 |  |  | 1,160 |  |  | 987 |  |  | 1,855 |  |  | 3,801 |
Amortization of patents |  | 1,159 |  |  | 1,174 |  |  | 1,305 |  |  | 1,043 |  |  | 857 |  |  | 863 |  |  | 818 |  |  | 656 |
Other portfolio expenses |  | – |  |  | – |  |  | (74 | ) |  | (234 | ) |  | 1,581 |  |  | (475 | ) |  | – |  |  | 650 |
Total portfolio operations |  | 4,415 |  |  | 14,556 |  |  | 3,347 |  |  | 2,506 |  |  | 3,794 |  |  | 2,186 |  |  | 5,671 |  |  | 6,637 |
Net portfolio income (loss) |  | (32 | ) |  | 4,910 |  |  | (1,229 | ) |  | 1,309 |  |  | (3,106 | ) |  | (475 | ) |  | (211 | ) |  | (3,250 | )
General and administrative expenses (including non-cash stock compensation expense) |  | 6,387 |  |  | 7,692 |  |  | 5,519 |  |  | 4,878 |  |  | 4,328 |  |  | 4,630 |  |  | 3,763 |  |  | 3,655 |
Impairment of patent-related intangible assets |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |
Operating income (loss) |  | (6,419 | ) |  | (2,782 | ) |  | (6,748 | ) |  | (3,569 | ) |  | (7,434 | ) |  | (5,105 | ) |  | (3,974 | ) |  | (6,905 | )
Total other income (expense) |  | 86,756 |  |  | 41,213 |  |  | 12,894 |  |  | (9,060 | ) |  | 5,921 |  |  | (2,503 | ) |  | (1,774 | ) |  | 2,821 |
Income (loss) before provision for income taxes |  | 80,337 |  |  | 38,431 |  |  | 6,146 |  |  | (12,629 | ) |  | (1,513 | ) |  | (7,608 | ) |  | (5,748 | ) |  | (4,084 | )
Provision for income taxes |  | (98 | ) |  | (83 | ) |  | 2 |  |  | 1,338 |  |  | 2,147 |  |  | – |  |  | (9 | ) |  | (314 | )
Net income (loss) including noncontrolling interests |  | 80,239 |  |  | 38,348 |  |  | 6,148 |  |  | (11,291 | ) |  | 634 |  |  | (7,608 | ) |  | (5,757 | ) |  | (4,398 | )
Net (income) loss attributable to noncontrolling interests in subsidiaries |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | – |  |  | 14 |
Net income (loss) attributable to Acacia Research Corporation | $ | 80,239 |  | $ | 38,348 |  | $ | 6,148 |  | ($ | 11,291 | ) | $ | 634 |  | ($ | 7,608 | ) | ($ | 5,757 | ) | ($ | 4,384 | )
Net income (loss) attributable to common shareholders - basic | $ | 65,180 |  | $ | 30,529 |  | $ | 4,201 |  | $ | (12,185 | ) | $ | 327 |  | $ | (7,608 | ) | $ | (5,757 | ) | $ | (4,384 | )
Basic income (loss) per share | $ | 1.34 |  | $ | 0.63 |  | $ | 0.09 |  | ($ | 0.24 | ) | $ | 0.01 |  | ($ | 0.15 | ) | ($ | 0.12 | ) | ($ | 0.09 | )
Weighted-average number of shares outstanding, basic |  | 48,508,903 |  |  | 48,467,885 |  |  | 48,457,620 |  |  | 49,875,396 |  |  | 49,875,750 |  |  | 49,828,361 |  |  | 49,696,016 |  |  | 49,655,881 |
Net loss attributable to common stockholders - diluted | $ | 65,352 |  | $ | 29,204 |  | $ | 4,201 |  | $ | (12,185 | ) | $ | (2,624 | ) | $ | (7,608 | ) | $ | (5,757 | ) | $ | (4,384 | )
Diluted net income (loss) per common share | $ | 1.33 |  | $ | 0.32 |  | $ | 0.09 |  | ($ | 0.24 | ) | ($ | 0.05 | ) | ($ | 0.15 | ) | ($ | 0.12 | ) | ($ | 0.09 | )
Weighted average number of shares outstanding - diluted |  | 49,244,141 |  |  | 90,624,702 |  |  | 49,033,824 |  |  | 49,875,396 |  |  | 54,406,835 |  |  | 49,828,361 |  |  | 49,696,016 |  |  | 49,655,881 |

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