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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income Statement [Abstract]        
Revenues $ 19,466 $ 1,711 $ 25,399 $ 10,558
Portfolio operations:        
Inventor royalties 5,772 776 6,843 4,752
Contingent legal fees 6,609 35 6,855 587
Litigation and licensing expenses - patents 1,001 987 3,497 6,643
Amortization of patents 1,174 863 3,522 2,337
Other portfolio expenses (income) 0 (475) (308) 175
Total portfolio operations 14,556 2,186 20,409 14,494
Net portfolio income (loss) 4,910 (475) 4,990 (3,936)
General and administrative expenses(1) 7,692 4,630 18,089 12,048
Operating loss (2,782) (5,105) (13,099) (15,984)
Other income (expense):        
Change in fair value of investment, net (Note 5) (3,081) (4,266) 3,704 9,622
Loss on sale of investment (Note 5) 0 (915) (2,762) (8,147)
Impairment of other investment 0 0 0 (8,195)
Gain on disposal of other investment 0 2,000 0 2,000
Change in fair value of the Series A and B warrants and embedded derivatives 20,672 0 (46,612) 0
Change in fair value of equity securities derivative and forward contract (64,011) 0 17,542 0
Gain on sale of prepaid investment and derivative 2,845 0 2,845 0
Change in fair value of trading securities and equity securities - private 84,499 (482) 81,907 132
Gain (loss) on sale of trading securities 2,737 238 (4,272) 226
Loss on foreign currency exchange (48) (106) (4,938) (106)
Interest expense on Senior Secured Notes (2,410) 0 (3,178) 0
Interest income and other 10 1,028 811 3,012
Total other income (expense) 41,213 (2,503) 45,047 (1,456)
Income (loss) before income taxes 38,431 (7,608) 31,948 (17,440)
Income tax benefit (expense) (83) 0 1,257 (323)
Net income (loss) including noncontrolling interests in subsidiaries 38,348 (7,608) 33,205 (17,763)
Net loss attributable to noncontrolling interests in subsidiaries 0 0 0 14
Net income (loss) attributable to Acacia Research Corporation 38,348 (7,608) 33,205 (17,749)
Net income (loss) attributable to common stockholders - basic $ 30,529 $ (7,608) $ 24,838 $ (17,749)
Basic net income (loss) per common share $ 0.63 $ (0.15) $ 0.51 $ (0.36)
Weighted average number of shares outstanding - basic 48,467,885 49,828,361 48,949,706 49,727,385
Net income (loss) attributable to common stockholders - diluted $ 29,204 $ (7,608) $ 21,380 $ (17,749)
Diluted net income (loss) per common share $ 0.32 $ (0.15) $ 0.36 $ (0.36)
Weighted average number of shares outstanding - diluted 90,624,702 49,828,361 60,153,773 49,727,385