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INCOME/LOSS PER SHARE | 3 Months Ended
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Mar. 31, 2023
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 March 31,
|  |  |  |  | 2023 |  | 2022
|  |  |  |  | (In thousands, except share and per share data)
Numerator: |  |  |  |  |  |  |
Net income (loss) attributable to Acacia Research Corporation |  |  |  |  | $ | 9,447 |  |  | $ | (73,266) |
Dividend on Series A redeemable convertible preferred stock |  |  |  |  | (700) |  |  | (700) |
Accretion of Series A redeemable convertible preferred stock |  |  |  |  | (1,554) |  |  | (1,151) |
Undistributed earnings allocated to participating securities |  |  |  |  | (1,235) |  |  | — |
Net income (loss) attributable to common stockholders - Basic |  |  |  |  | 5,958 |  |  | (75,117) |
Add: Dividend on Series A redeemable convertible preferred stock |  |  |  |  | 700 |  |  | — |
Add: Accretion of Series A redeemable convertible preferred stock |  |  |  |  | 1,554 |  |  | — |
Less: Change in fair value of Series A redeemable convertible preferred stock embedded derivative |  |  |  |  | (5,023) |  |  | — |
Less: Change in fair value of Series A warrants |  |  |  |  | — |  |  | — |
Less: Change in fair value of dilutive Series B warrants |  |  |  |  | (11,628) |  |  | — |
Add: Interest expense associated with Starboard Notes, net of tax |  |  |  |  | 708 |  |  | — |
Add: Undistributed earnings allocated to participating securities |  |  |  |  | 1,235 |  |  | — |
Reallocation of undistributed earnings to participating securities |  |  |  |  | — |  |  | — |
Net loss attributable to common stockholders - Diluted |  |  |  |  | $ | (6,496) |  |  | $ | (75,117) |
Denominator: |  |  |  |  |  |  |
Weighted average shares used in computing net (loss) income per share attributable to common stockholders - Basic |  |  |  |  | 47,971,931 |  |  | 46,544,313 |
Potentially dilutive common shares: |  |  |  |  |  |  |
Series A Preferred Stock |  |  |  |  | 9,589,041 |  |  | — |
Restricted stock units |  |  |  |  | — |  |  | — |
Stock options |  |  |  |  | — |  |  | — |
Series A Warrants |  |  |  |  | — |  |  | — |
Series B Warrants |  |  |  |  | 31,506,849 |  |  | — |
Weighted average shares used in computing net (loss) income per share attributable to common stockholders - Diluted |  |  |  |  | 89,067,821 |  |  | 46,544,313 |
Basic net income (loss) per common share |  |  |  |  | $ | 0.12 |  |  | $ | (1.61) |
Diluted net loss per common share |  |  |  |  | $ | (0.07) |  |  | $ | (1.61) |
Anti-dilutive potential common shares excluded from the computation of diluted net income/loss per share: |  |  |  |  |  |  |
Equity-based incentive awards |  |  |  |  | 2,368,870 |  |  | 4,029,318 |
Series A warrants |  |  |  |  | — |  |  | 5,000,000 |
Series B warrants |  |  |  |  | — |  |  | 100,000,000 |
Total |  |  |  |  | 2,368,870 |  |  | 109,029,318 |

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