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INCOME/LOSS PER SHARE | 9 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
INCOME/LOSS PER SHARE | INCOME/LOSS PER SHARE The following table presents the calculation of basic and diluted income/loss per share of common stock:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (In thousands, except share and per share data)
Numerator: |  |  |  |  |  |  |
Net income (loss) attributable to Acacia Research Corporation | $ | 28,090 |  |  | $ | 89,757 |  |  | $ | (106,679) |  |  | $ | (55,048) |
Dividend on Series A redeemable convertible preferred stock | (700) |  |  | (262) |  |  | (2,099) |  |  | (785) |
Accretion of Series A redeemable convertible preferred stock | (1,337) |  |  | (991) |  |  | (3,729) |  |  | (2,762) |
Undistributed earnings allocated to participating securities | (5,466) |  |  | (15,394) |  |  | — |  |  | — |
Net income (loss) attributable to common stockholders - Basic | 20,587 |  |  | 73,110 |  |  | (112,507) |  |  | (58,595) |
Less: Change in fair value of Series A warrants | (3,389) |  |  | 63 |  |  | — |  |  | — |
Less: Change in fair value of dilutive Series B warrants | (21,766) |  |  | (902) |  |  | — |  |  | — |
Add: Interest expense associated with Starboard Notes, net of tax | 850 |  |  | 1,536 |  |  | — |  |  | — |
Add: Undistributed earnings allocated to participating securities | 5,466 |  |  | 15,394 |  |  | — |  |  | — |
Reallocation of undistributed earnings to participating securities | (217) |  |  | (8,893) |  |  | — |  |  | — |
Net income (loss) attributable to common stockholders - Diluted | $ | 1,531 |  |  | $ | 80,308 |  |  | $ | (112,507) |  |  | $ | (58,595) |
Denominator: |  |  |  |  |  |  |
Weighted average shares used in computing net income (loss) per share attributable to common stockholders - Basic | 38,052,426 |  |  | 48,949,504 |  |  | 42,830,700 |  |  | 48,759,873 |
Potentially dilutive common shares: |  |  |  |  |  |  |
Restricted stock units | 539,989 |  |  | 798,356 |  |  | — |  |  | — |
Stock options | 18,397 |  |  | 35,815 |  |  | — |  |  | — |
Series A Warrants | 1,046,575 |  |  | 2,019,724 |  |  | — |  |  | — |
Series B Warrants | 31,506,849 |  |  | 41,278,103 |  |  | — |  |  | — |
Weighted average shares used in computing net income (loss) per share attributable to common stockholders - Diluted | 71,164,236 |  |  | 93,081,502 |  |  | 42,830,700 |  |  | 48,759,873 |
Basic net income (loss) per common share | $ | 0.54 |  |  | $ | 1.49 |  |  | $ | (2.63) |  |  | $ | (1.20) |
Diluted net income (loss) per common share | $ | 0.02 |  |  | $ | 0.86 |  |  | $ | (2.63) |  |  | $ | (1.20) |
Anti-dilutive potential common shares excluded from the computation of diluted net income/loss per share: |  |  |  |  |  |  |
Equity-based incentive awards | 1,027,082 |  |  | 398,168 |  |  | 3,217,890 |  |  | 2,230,624 |
Series A warrants | — |  |  | — |  |  | 5,000,000 |  |  | 5,000,000 |
Series B warrants | 68,493,151 |  |  | — |  |  | 100,000,000 |  |  | 100,000,000 |
Total | 69,520,233 |  |  | 398,168 |  |  | 108,217,890 |  |  | 107,230,624 |

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