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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 144,807 $ 165,546
Equity securities at fair value 180,320 109,103
Equity securities without readily determinable fair value 116,946 143,257
Investment securities - equity method investments 33,665 30,673
Investment at fair value 0 2,752
Accounts receivable 4,425 506
Prepaid expenses and other current assets 2,647 5,832
Total current assets 482,810 457,669
Long-term restricted cash 35,419 35,000
Patents, net of accumulated amortization 45,050 16,912
Leased right-of-use assets 845 951
Other non-current assets 4,834 4,988
Total assets 568,958 515,520
Current liabilities:    
Accounts payable 3,633 1,019
Accrued expenses and other current liabilities 3,673 3,707
Accrued compensation 2,017 2,265
Royalties and contingent legal fees payable 2,445 2,162
Accrued patent investment costs 10,000 0
Senior Secured Notes Payable - short-term 116,211 115,663
Total current liabilities 137,979 124,816
Series A warrant liabilities 18,243 6,640
Series A embedded derivative liabilities 40,419 26,728
Series B warrant liabilities 225,956 52,341
Long-term lease liabilities 845 951
Other long-term liabilities 5,591 591
Total liabilities 429,033 212,067
Commitments and contingencies
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 March 31, 2021 and December 31, 2020, respectively; aggregate liquidation preference of $35,000 as of March 31, 2021 and December 31, 2020, respectively 11,777 10,924
Stockholders' equity:    
Common stock, par value $0.001 per share; 300,000,000 shares authorized; 49,279,453 shares issued and outstanding as of March 31, 2021 and December 31, 2020 49 49
Treasury stock, at cost, 4,604,365 shares as of March 31, 2021 and December 31, 2020 (43,270) (43,270)
Additional paid-in capital 650,753 651,416
Accumulated deficit (491,326) (326,708)
Total Acacia Research Corporation stockholders' equity 116,206 281,487
Noncontrolling interests 11,942 11,042
Total stockholders' equity 128,148 292,529
Total liabilities, redeemable convertible preferred stock, and stockholders' equity $ 568,958 $ 515,520