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INCOME/LOSS PER SHARE | 12 Months Ended
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Dec. 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:
|  |  | Years Ended December 31,
|  |  |  |  | 2023 |  | 2022
|  |  |  |  | (In thousands, except share and per share data)
Numerator: |  |  |  |  |  |  |
Net income (loss) attributable to Acacia Research Corporation |  |  |  |  | $ | 67,060 |  |  | $ | (125,065) |
Dividend on Series A redeemable convertible preferred stock |  |  |  |  | (1,400) |  |  | (2,799) |
Accretion of Series A redeemable convertible preferred stock |  |  |  |  | (3,230) |  |  | (5,171) |
Return on settlement of Series A redeemable convertible preferred stock |  |  |  |  | (3,377) |  |  | — |
Undistributed earnings allocated to participating securities |  |  |  |  | (3,913) |  |  | — |
Net income (loss) attributable to common stockholders - Basic |  |  |  |  | 55,140 |  |  | (133,035) |
Less: Change in fair value and gain on exercise of dilutive Series B warrants |  |  |  |  | (4,287) |  |  | — |
Add: Interest expense associated with Starboard Notes, net of tax |  |  |  |  | 1,518 |  |  | — |
Add: Undistributed earnings allocated to participating securities |  |  |  |  | 3,913 |  |  | — |
Reallocation of undistributed earnings to participating securities |  |  |  |  | (3,076) |  |  | — |
Net income (loss) attributable to common stockholders - Diluted |  |  |  |  | $ | 53,208 |  |  | $ | (133,035) |
Denominator: |  |  |  |  |  |  |
Weighted average shares used in computing net income (loss) per share attributable to common stockholders - Basic |  |  |  |  | 75,296,025 |  |  | 42,460,504 |
Potentially dilutive common shares: |  |  |  |  |  |  |
Employee stock options and restricted stock units |  |  |  |  | 163,738 |  |  | — |
Series B Warrants |  |  |  |  | 16,952,055 |  |  | — |
Weighted average shares used in computing net income (loss) per share attributable to common stockholders - Diluted |  |  |  |  | 92,411,818 |  |  | 42,460,504 |
Basic net income (loss) per common share |  |  |  |  | $ | 0.73 |  |  | $ | (3.13) |
Diluted net income (loss) per common share |  |  |  |  | $ | 0.58 |  |  | $ | (3.13) |
Anti-dilutive potential common shares excluded from the computation of diluted net income/loss per share: |  |  |  |  |  |  |
Equity-based incentive awards |  |  |  |  | 2,098,747 |  |  | 2,558,720 |
Series B warrants |  |  |  |  | — |  |  | 100,000,000 |
Total |  |  |  |  | 2,098,747 |  |  | 102,558,720 |

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