Company: ACTG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000934549-25-000021
Chunk: 50

Company: ACACIA RESEARCH CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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1 securities was used to allocate to the Viamet investment, the single identifiable asset, and no goodwill was recognized. The Company through its consolidation of MalinJ1 accounts for the Viamet investment under the equity method as MalinJ1 owns 41.0% of outstanding shares of Viamet. As of March 31, 2025 and December 31, 2024, this investment did not meet the significance thresholds for additional summarized income statement disclosures, as defined by the SEC. During the three months ended March 31, 2025 and 2024, there were no earnings on equity investments included in the condensed consolidated statements of operations and comprehensive income (loss). No distributions were received during the three months ended March 31, 2025 and 2024.

5. INVENTORIES

Inventories consisted of the following:March 31, 2025December 31, 2024(In thousands)Raw materials$7,301 $8,575 Subassemblies and work in process1,245 1,481 Finished goods17,718 17,429 Total inventories$26,264 $27,485 

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6. PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consisted of the following:March 31, 2025December 31, 2024(In thousands)Machinery and equipment$15,173 $14,687 Vehicles525 404 Furniture and fixtures519 528 Computer hardware and software1,191 1,218 Land2,876 2,876 Building and leasehold improvements9,153 9,078 29,437 28,791 Accumulated depreciation and amortization(6,083)(4,926)Property, plant and equipment, net$23,354 $23,865 

Total depreciation and amortization expense in the condensed consolidated statements of operations and comprehensive income (loss) was $1.3 million and $280,000 for the three months ended March 31, 2025 and 2024, respectively. Our Intellectual Property Operations and parent company include depreciation and amortization in general and administrative expenses. Our Manufacturing Operations include $1.1 million of depreciation and amortization in general and administrative expenses for the three months ended March 31, 2025. For the three months ended March 31, 2025 and 2024, our Industrial Operations allocated depreciation