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Quarterly Financial Data
12 Months Ended
Dec. 31, 2018
Quarterly Financial Data [Abstract]  
Quarterly Financial Data QUARTERLY FINANCIAL DATA (unaudited)
The following table sets forth unaudited consolidated statements of operations data for the eight quarters in the period ended December 31, 2018. This information has been derived from Acacia’s unaudited condensed consolidated financial statements that have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, include all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the information when read in conjunction with the audited consolidated financial statements and related notes thereto. Acacia’s quarterly results have been, and may in the future be, subject to significant fluctuations. As a result, Acacia believes that results of operations for interim periods should not be relied upon as any indication of the results to be expected in any future periods.
 
 
Quarter Ended
 
 
Mar. 31,
 
Jun. 30,
 
Sept. 30,
 
Dec. 31,
 
Mar. 31,
 
Jun. 30,
 
Sept. 30,
 
Dec. 31,
 
 
2018
 
2018
 
2018
 
2018
 
2017
 
2017
 
2017
 
2017
 
 
(Unaudited, in thousands, except share and per share information)
Revenues
 
$
62,093

 
$
6,485

 
$
13,725

 
$
49,203

 
$
8,854

 
$
16,457

 
$
36,633

 
$
3,458

Portfolio operations:
 
 

 
 

 
 
 
 
 
 

 
 

 
 

 
 
Inventor royalties
 
21,744

 
1,241

 
1,181

 
11,002

 
666

 
4,273

 

 
13

Contingent legal fees
 
15,759

 
1,037

 
2,949

 
11,756

 
627

 
3,236

 
12,173

 
646

Patent acquisition expenses
 
4,000

 

 

 

 

 

 

 

Litigation and licensing expenses - patents
 
2,989

 
2,639

 
1,549

 
1,689

 
6,386

 
4,134

 
4,073

 
3,626

Amortization of patents
 
5,330

 
5,278

 
4,952

 
11,560

 
5,515

 
5,571

 
5,625

 
5,443

Impairment of patent-related intangible assets
 

 
28,210

 

 

 

 

 
2,248

 

Other portfolio expenses
 

 

 
2,202

 
400

 

 

 

 
1,200

Total portfolio operations
 
49,822

 
38,405

 
12,833

 
36,407

 
13,194

 
17,214

 
24,119

 
10,928

Net revenue (loss)
 
12,271

 
(31,920
)
 
892

 
12,796

 
(4,340
)
 
(757
)
 
12,514

 
(7,470
)
General and administrative expenses (including non-cash stock compensation expense)
 
3,301

 
6,916

 
5,855

 
2,778

 
7,236

 
7,167

 
12,956

 
(140
)
Operating income (loss)
 
8,970

 
(38,836
)
 
(4,963
)
 
10,018

 
(11,576
)
 
(7,924
)
 
(442
)
 
(7,330
)
Total other income (expense)
 
(40,890
)
 
10,615

 
(27,595
)
 
(20,988
)
 
696

 
(4,862
)
 
159,027

 
(102,950
)
Income (loss) before provision for income taxes
 
(31,920
)
 
(28,221
)
 
(32,558
)
 
(10,970
)
 
(10,880
)
 
(12,786
)
 
158,585

 
(110,280
)
Provision for income taxes
 
(191
)
 
(285
)
 
(306
)
 
(397
)
 
(1,241
)
 
(1,478
)
 
(216
)
 
(20
)
Net income (loss) including noncontrolling interests
 
(32,111
)
 
(28,506
)
 
(32,864
)
 
(11,367
)
 
(12,121
)
 
(14,264
)
 
158,369

 
(110,300
)
Net (income) loss attributable to noncontrolling interests in subsidiaries
 
73

 
79

 
(331
)
 
(2
)
 
291

 
12

 
96

 
97

Net income (loss) attributable to Acacia Research Corporation
 
$
(32,038
)
 
$
(28,427
)
 
$
(33,195
)
 
$
(11,369
)
 
$
(11,830
)
 
$
(14,252
)
 
$
158,465

 
$
(110,203
)
Net income (loss) per common share attributable to Acacia Research Corporation:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Basic and diluted income (loss) per share
 
$
(0.63
)
 
$
(0.57
)
 
$
(0.67
)
 
$
(0.23
)
 
$
(0.24
)
 
$
(0.28
)
 
$
3.13

 
$
(2.18
)
Weighted-average number of shares outstanding, basic
 
50,632,958

 
50,061,812

 
49,557,748

 
49,639,172

 
50,333,056

 
50,499,948

 
50,554,234

 
50,590,460

Weighted-average number of shares outstanding, diluted
 
50,632,958

 
50,061,812

 
49,557,748

 
49,639,172

 
50,333,056

 
50,499,948

 
50,599,974

 
50,590,460