INCOME/LOSS PER SHARE

3 Months Ended

Mar. 31, 2024

The following table presents the calculation of basic and diluted income/loss per share of common stock:


	Three Months Ended March 31,
		2024		2023
		(In thousands, except share and per share data)
Numerator:
Net (loss) income attributable to Acacia Research Corporation		$	(186)	$	9,447
Dividend on Series A redeemable convertible preferred stock		—		(700)
Accretion of Series A redeemable convertible preferred stock		—		(1,554)

Undistributed earnings allocated to participating securities		—		(1,235)
Net (loss) income attributable to common stockholders - Basic		(186)		5,958

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 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

Net loss attributable to common stockholders - Diluted		$	(186)	$	(6,496)

Denominator:
Weighted average shares used in computing net income (loss) per share attributable to common stockholders - Basic		99,745,905		47,971,931
Potentially dilutive common shares:
Series A Redeemable Convertible Preferred Stock		—		9,589,041



Series B Warrants		—		31,506,849
Weighted average shares used in computing net income (loss) per share attributable to common stockholders - Diluted		99,745,905		89,067,821

Basic net income per common share		$	—	$	0.12
Diluted net loss per common share		$	—	$	(0.07)

Anti-dilutive potential common shares excluded from the computation of diluted net income/loss per share:
Equity-based incentive awards		4,231,699		2,368,870


Total		4,231,699		2,368,870