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INCOME/LOSS PER SHARE | 9 Months Ended
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Sep. 30, 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 September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands, except share and per share data)
Numerator: |  |  |  |  |  |  |
Net income (loss) attributable to Acacia Research Corporation | $ | 1,636 |  |  | $ | 28,090 |  |  | $ | (7,696) |  |  | $ | (106,679) |
Dividend on Series A redeemable convertible preferred stock | — |  |  | (700) |  |  | (1,400) |  |  | (2,099) |
Accretion of Series A redeemable convertible preferred stock | — |  |  | (1,337) |  |  | (3,230) |  |  | (3,729) |
Return on settlement of Series A redeemable convertible preferred stock | (3,377) |  |  | — |  |  | (3,377) |  |  | — |
Undistributed earnings allocated to participating securities | — |  |  | (5,466) |  |  | — |  |  | — |
Net (loss) income attributable to common stockholders - Basic | (1,740) |  |  | 20,587 |  |  | (15,703) |  |  | (112,507) |
Add: Dividend on Series A redeemable convertible preferred stock | — |  |  | — |  |  | — |  |  | — |
Add: Accretion of Series A redeemable convertible preferred stock | — |  |  | — |  |  | — |  |  | — |
Less: Change in fair value of Series A redeemable convertible preferred stock embedded derivative | — |  |  | — |  |  | — |  |  | — |
Less: Change in fair value of Series A warrants | — |  |  | (3,389) |  |  | — |  |  | — |
Less: Change in fair value of dilutive Series B warrants | — |  |  | (21,766) |  |  | — |  |  | — |
Less: Gain on exercise of Series B warrants | (1,525) |  |  | — |  |  | — |  |  | — |
Add: Interest expense associated with Starboard Notes, net of tax | 102 |  |  | 850 |  |  | — |  |  | — |
Add: Undistributed earnings allocated to participating securities | — |  |  | 5,466 |  |  | — |  |  | — |
Reallocation of undistributed earnings to participating securities | — |  |  | (217) |  |  | — |  |  | — |
Net (loss) income attributable to common stockholders - Diluted | $ | (3,163) |  |  | $ | 1,531 |  |  | $ | (15,703) |  |  | $ | (112,507) |
Denominator: |  |  |  |  |  |  |
Weighted average shares used in computing net (loss) income per share attributable to common stockholders - Basic | 94,328,452 |  |  | 38,052,426 |  |  | 67,072,835 |  |  | 42,830,700 |
Potentially dilutive common shares: |  |  |  |  |  |  |
Series A Redeemable Convertible Preferred Stock | — |  |  | — |  |  | — |  |  | — |
Restricted stock units | — |  |  | 539,989 |  |  | — |  |  | — |
Stock options | — |  |  | 18,397 |  |  | — |  |  | — |
Series A Warrants | — |  |  | 1,046,575 |  |  | — |  |  | — |
Series B Warrants | 4,794,521 |  |  | 31,506,849 |  |  | — |  |  | — |
Weighted average shares used in computing net (loss) income per share attributable to common stockholders - Diluted | 99,122,973 |  |  | 71,164,236 |  |  | 67,072,835 |  |  | 42,830,700 |
Basic net (loss) income per common share | $ | (0.02) |  |  | $ | 0.54 |  |  | $ | (0.23) |  |  | $ | (2.63) |
Diluted net (loss) income per common share | $ | (0.03) |  |  | $ | 0.02 |  |  | $ | (0.23) |  |  | $ | (2.63) |
Anti-dilutive potential common shares excluded from the computation of diluted net income/loss per share: |  |  |  |  |  |  |
Equity-based incentive awards | 3,894,709 |  |  | 1,027,082 |  |  | 4,706,140 |  |  | 3,217,890 |
Series A warrants | — |  |  | — |  |  | — |  |  | 5,000,000 |
Series B warrants | — |  |  | 68,493,151 |  |  | 31,506,849 |  |  | 100,000,000 |
Total | 3,894,709 |  |  | 69,520,233 |  |  | 36,212,989 |  |  | 108,217,890 |

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