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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 263,945 $ 308,943
Equity securities at fair value 126,345 361,778
Equity securities without readily determinable fair value 5,816 5,816
Investment securities - equity method investments 73,020 30,934
Accounts receivable, net 13,692 9,517
Inventories, net 12,056 8,930
Prepaid expenses and other current assets 5,291 4,764
Total current assets 500,165 730,682
Long-term restricted cash 0 418
Property, plant and equipment, net 3,883 4,183
Goodwill 7,470 7,470
Other intangible assets, net 42,725 48,793
Leased right-of-use assets 2,415 2,027
Other non-current assets 5,041 5,283
Total assets 561,699 798,856
Current liabilities:    
Accounts payable 5,484 5,440
Accrued expenses and other current liabilities 6,841 6,227
Accrued compensation 4,108 3,698
Royalties and contingent legal fees payable 2,581 2,463
Deferred revenue 1,378 1,114
Senior secured notes payable 115,828 181,248
Total current liabilities 136,220 200,190
Deferred revenue, net of current portion 623 581
Series A warrant liabilities 12,785 11,291
Series A embedded derivative liabilities 23,599 18,448
Series B warrant liabilities 96,781 96,378
Long-term lease liabilities 2,254 2,027
Deferred income tax liabilities, net 3,052 18,552
Other long-term liabilities 1,066 6,161
Total liabilities 276,380 353,628
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 June 30, 2022 and December 31, 2021; aggregate liquidation preference of $35,000 as of June 30, 2022 and December 31, 2021 17,145 14,753
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; 40,622,465 and 48,807,748 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively 41 49
Treasury stock, at cost, 13,877,003 and 5,388,469 shares as of June 30, 2022 and December 31, 2021, respectively (86,781) (47,281)
Additional paid-in capital 646,352 648,389
Accumulated deficit (316,493) (181,724)
Total Acacia Research Corporation stockholders' equity 243,119 419,433
Noncontrolling interests 25,055 11,042
Total stockholders' equity 268,174 430,475
Total liabilities, redeemable convertible preferred stock, and stockholders' equity $ 561,699 $ 798,856