2022 Q1 Form 10-Q Financial Statement

#000093454922000027 Filed on May 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $13.51M $5.803M
YoY Change 132.76% 51.91%
Cost Of Revenue $8.946M $95.00K
YoY Change 9316.84% -77.91%
Gross Profit $4.561M $5.708M
YoY Change -20.09% 68.38%
Gross Profit Margin 33.77% 98.36%
Selling, General & Admin $13.07M $6.200M
YoY Change 110.79% 21.33%
% of Gross Profit 286.54% 108.62%
Research & Development $190.0K $0.00
YoY Change
% of Gross Profit 4.17% 0.0%
Depreciation & Amortization $3.369M $1.897M
YoY Change 77.6% 72.45%
% of Gross Profit 73.87% 33.23%
Operating Expenses $13.26M $6.200M
YoY Change 113.85% 4.91%
Operating Profit -$8.508M -$5.676M
YoY Change 49.89% 125.24%
Interest Expense -$79.64M -$158.0M
YoY Change -49.61% 1644.28%
% of Operating Profit
Other Income/Expense, Net -$79.64M -$157.9M
YoY Change -49.56%
Pretax Income -$88.14M -$163.6M
YoY Change -46.11% 1194.97%
Income Tax -$14.88M $10.00K
% Of Pretax Income
Net Earnings -$73.27M -$164.5M
YoY Change -55.45% 1356.73%
Net Earnings / Revenue -542.43% -2834.14%
Basic Earnings Per Share -$1.61 -$2.81
Diluted Earnings Per Share -$1.61 -$2.81
COMMON SHARES
Basic Shares Outstanding 46.54M shares 48.60M shares
Diluted Shares Outstanding 46.54M shares 48.60M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $572.6M $475.7M
YoY Change 20.36% 200.91%
Cash & Equivalents $289.4M $180.2M
Short-Term Investments $283.2M $330.9M
Other Short-Term Assets $4.961M $2.647M
YoY Change 87.42% -28.46%
Inventory $10.01M
Prepaid Expenses
Receivables $9.141M $4.425M
Other Receivables $0.00 $0.00
Total Short-Term Assets $596.7M $482.8M
YoY Change 23.59% 197.3%
LONG-TERM ASSETS
Property, Plant & Equipment $3.885M $845.0K
YoY Change 359.76% -39.64%
Goodwill $7.470M
YoY Change
Intangibles $45.76M
YoY Change
Long-Term Investments $30.93M
YoY Change
Other Assets $5.273M $774.0K
YoY Change 581.27% -97.85%
Total Long-Term Assets $64.72M $82.09M
YoY Change -21.16% 60.02%
TOTAL ASSETS
Total Short-Term Assets $596.7M $482.8M
Total Long-Term Assets $64.72M $82.09M
Total Assets $661.4M $564.9M
YoY Change 17.09% 164.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.298M $3.633M
YoY Change 45.83% 17.19%
Accrued Expenses $16.20M $15.69M
YoY Change 3.26% 1326.36%
Deferred Revenue $1.453M
YoY Change
Short-Term Debt $168.7M $116.2M
YoY Change 45.13%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $194.4M $138.0M
YoY Change 40.9% 1189.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.165M $291.1M
YoY Change -99.6% 795.55%
Total Long-Term Liabilities $1.165M $291.1M
YoY Change -99.6% 795.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $194.4M $138.0M
Total Long-Term Liabilities $1.165M $291.1M
Total Liabilities $300.1M $441.0M
YoY Change -31.95% 879.94%
SHAREHOLDERS EQUITY
Retained Earnings -$255.0M -$495.4M
YoY Change -48.53%
Common Stock $47.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $58.27M
YoY Change
Treasury Stock Shares 7.730M shares
Shareholders Equity $334.4M $128.0M
YoY Change
Total Liabilities & Shareholders Equity $661.4M $569.0M
YoY Change 16.25% 166.24%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$73.27M -$164.5M
YoY Change -55.45% 1356.73%
Depreciation, Depletion And Amortization $3.369M $1.897M
YoY Change 77.6% 72.45%
Cash From Operating Activities -$3.163M -$6.120M
YoY Change -48.32% 178.18%
INVESTING ACTIVITIES
Capital Expenditures $34.00K $33.00K
YoY Change 3.03% -100.56%
Acquisitions
YoY Change
Other Investing Activities $9.965M -$2.907M
YoY Change -442.79% -144.72%
Cash From Investing Activities $9.931M -$13.94M
YoY Change -171.24% -2888.0%
FINANCING ACTIVITIES
Cash Dividend Paid $700.0K $260.0K
YoY Change 169.23%
Common Stock Issuance & Retirement, Net $10.99M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$26.76M -$260.0K
YoY Change 10192.31% -108.67%
NET CHANGE
Cash From Operating Activities -$3.163M -$6.120M
Cash From Investing Activities $9.931M -$13.94M
Cash From Financing Activities -$26.76M -$260.0K
Net Change In Cash -$19.99M -$20.32M
YoY Change -1.61% -1663.08%
FREE CASH FLOW
Cash From Operating Activities -$3.163M -$6.120M
Capital Expenditures $34.00K $33.00K
Free Cash Flow -$3.197M -$6.153M
YoY Change -48.04% -266.3%

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CY2022Q1 us-gaap Gain Loss On Sale Of Investments
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CY2022Q1 us-gaap Earnings Per Share Basic
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CY2022Q1 us-gaap Earnings Per Share Diluted
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CY2021Q1 us-gaap Earnings Per Share Diluted
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-2.81
CY2021Q1 us-gaap Earnings Per Share Basic
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-2.81
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Preferred Stock
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1151000 USD
CY2022Q1 us-gaap Dividends Preferred Stock Stock
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CY2022Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2022Q1 us-gaap Stock Repurchased And Retired During Period Value
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CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q1 us-gaap Profit Loss
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CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Preferred Stock
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853000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2021Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-163565000 USD
CY2022Q1 us-gaap Increase Decrease In Trading Securities
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0 USD
CY2021Q1 us-gaap Increase Decrease In Trading Securities
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CY2021Q1 us-gaap Gain Loss On Sale Of Investments
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CY2022Q1 us-gaap Depreciation Depletion And Amortization
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3369000 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1897000 USD
CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
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51000 USD
CY2021Q1 us-gaap Amortization Of Financing Costs And Discounts
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549000 USD
CY2022Q1 actg Change In Fair Value Of Series Redeemable Convertible Preferred Stock Embedded Derivative
ChangeInFairValueOfSeriesRedeemableConvertiblePreferredStockEmbeddedDerivative
3942000 USD
CY2021Q1 actg Change In Fair Value Of Series Redeemable Convertible Preferred Stock Embedded Derivative
ChangeInFairValueOfSeriesRedeemableConvertiblePreferredStockEmbeddedDerivative
-13691000 USD
CY2022Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
896000 USD
CY2021Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-11603000 USD
CY2022Q1 actg Unrealized Gain Loss On Derivatives1
UnrealizedGainLossOnDerivatives1
23260000 USD
CY2021Q1 actg Unrealized Gain Loss On Derivatives1
UnrealizedGainLossOnDerivatives1
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CY2022Q1 us-gaap Share Based Compensation
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1174000 USD
CY2021Q1 us-gaap Share Based Compensation
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450000 USD
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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-813000 USD
CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-24000 USD
CY2022Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-172203000 USD
CY2021Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
37849000 USD
CY2022Q1 us-gaap Debt Securities Realized Gain Loss
DebtSecuritiesRealizedGainLoss
66876000 USD
CY2021Q1 us-gaap Debt Securities Realized Gain Loss
DebtSecuritiesRealizedGainLoss
819000 USD
CY2022Q1 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
0 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
2730000 USD
CY2022Q1 us-gaap Deferred Income Taxes And Tax Credits
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-15039000 USD
CY2021Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
0 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2021Q1 us-gaap Increase Decrease In Accounts Receivable
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3919000 USD
CY2022Q1 us-gaap Increase Decrease In Inventories
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1084000 USD
CY2021Q1 us-gaap Increase Decrease In Inventories
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0 USD
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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1246000 USD
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
843000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4261000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2332000 USD
CY2022Q1 actg Increase Decrease In Royalties And Contingent Legal Fees Payable
IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable
-161000 USD
CY2021Q1 actg Increase Decrease In Royalties And Contingent Legal Fees Payable
IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable
283000 USD
CY2022Q1 us-gaap Increase Decrease In Deferred Revenue
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418000 USD
CY2021Q1 us-gaap Increase Decrease In Deferred Revenue
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0 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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-3163000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6120000 USD
CY2022Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
CY2021Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
11000000 USD
CY2022Q1 us-gaap Proceeds From Sale And Maturity Of Other Investments
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0 USD
CY2021Q1 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
3591000 USD
CY2022Q1 us-gaap Payments To Acquire Short Term Investments
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92877000 USD
CY2021Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
9200000 USD
CY2022Q1 us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
102842000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
2702000 USD
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
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34000 USD
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
33000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
9931000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13940000 USD
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
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10988000 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
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0 USD
CY2022Q1 us-gaap Proceeds From Issuance Of Debt
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0 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
50000000 USD
CY2022Q1 us-gaap Repayments Of Secured Debt
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15000000 USD
CY2021Q1 us-gaap Repayments Of Secured Debt
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50000000 USD
CY2022Q1 us-gaap Payments Of Dividends
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700000 USD
CY2021Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
260000 USD
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
72000 USD
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-26760000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-260000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-19992000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-20320000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
309361000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
200546000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
289369000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
180226000 USD
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
10000 USD
CY2022Q1 actg Patent Acquisition In Exchange Of Notes Receivable
PatentAcquisitionInExchangeOfNotesReceivable
0 USD
CY2021Q1 actg Patent Acquisition In Exchange Of Notes Receivable
PatentAcquisitionInExchangeOfNotesReceivable
4000000 USD
CY2022Q1 actg Patent Acquisition Accrued Liability Long Term
PatentAcquisitionAccruedLiabilityLongTerm
0 USD
CY2021Q1 actg Patent Acquisition Accrued Liability Long Term
PatentAcquisitionAccruedLiabilityLongTerm
15000000 USD
CY2022Q1 actg Number Of Patent Portfolios Acquired
NumberOfPatentPortfoliosAcquired
0 patent
CY2021Q1 actg Number Of Patent Portfolios Acquired
NumberOfPatentPortfoliosAcquired
1 patent
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Acacia believes that, of the significant accounting policies described herein, the accounting policies associated with revenue recognition, estimates of variable consideration for revenue, including sales returns, the valuation of equity securities without readily determinable fair value, the determination of excess and obsolete inventories, bad debt allowances and product warranty liabilities, the valuation of Series A redeemable convertible preferred stock (the “Series A Redeemable Convertible Preferred Stock”), embedded derivatives, Series A warrants (the “Series A Warrants”) and Series B warrants (the “Series B Warrants”), stock-based compensation expense, impairment of goodwill, patent-related and other intangible assets, the determination of the economic useful life of amortizable intangible assets, and income taxes and valuation allowances against net deferred tax assets, require its most difficult, subjective or complex judgments.</span></div>
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
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850000 USD
CY2022Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
854000 USD
CY2022Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P2Y
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
294740000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
48793000 USD
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
222000 USD
CY2022Q1 us-gaap Product Warranty Expense
ProductWarrantyExpense
11000 USD
CY2022Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
63000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
170000 USD
CY2022Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentrations</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Intellectual Property Operations</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject Acacia to concentrations of credit risk are cash equivalents and accounts receivable. Acacia places its cash equivalents primarily in highly rated money market funds and investment grade marketable securities. Cash and cash equivalents are also invested in deposits with certain financial institutions and may, at times, exceed federally insured limits. Acacia has not experienced any significant losses on its deposits of cash and cash equivalents.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Six licensees individually accounted for more than 10% of total recognized revenue, ranging from 11% to 18%, during the three months ended March 31, 2022. Two licensees individually accounted for 61% and 9% of revenues recognized during the three months ended March 31, 2021.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Historically, Acacia has not had material foreign operations. Based on the jurisdiction of the entity obligated to satisfy payment obligations pursuant to the applicable license revenue arrangement, for the three months ended March 31, 2022 and 2021, 20% and 10%, respectively, of revenues were attributable to licensees domiciled in foreign jurisdictions. Refer to Note 15 for additional information regarding revenue from customers by geographic region.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Three licensees individually represented approximately 44%, 44% and 12% of accounts receivable at March 31, 2022. Two licensees individually represented approximately 59% and 41% of accounts receivable at December 31, 2021.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Industrial Operations</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No single Printronix customer accounted for more than 10% of revenue for the three months ended March 31, 2022. Printronix has significant foreign operations. Refer to Note 15 for additional information regarding net sales to customers by geographic region. Accounts receivable from one customer represented 13% of accounts receivable as of March 31, 2022, and one customer represented 11% of accounts receivable as of December 31, 2021. Exposure to credit risk is limited by the large number of customers comprising the remainder of the Printronix customer base and by periodic customer credit evaluations performed by Printronix.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No single Printronix vendor accounted for 10% or more of purchases for the three months ended March 31, 2022. Accounts payable to one vendor represented 11% of accounts payable as of March 31, 2022, and one vendor represented 14% of accounts payable as of December 31, 2021.</span></div>
CY2022Q1 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2021Q4 us-gaap Goodwill
Goodwill
7470000 USD
CY2022Q1 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
156768000 USD
CY2022Q1 us-gaap Equity Securities Fv Ni Unrealized Gain
EquitySecuritiesFvNiUnrealizedGain
104075000 USD
CY2022Q1 us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
14359000 USD
CY2022Q1 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
246484000 USD
CY2021Q4 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
99859000 USD
CY2021Q1 us-gaap Equity Securities Fv Ni Unrealized Gain
EquitySecuritiesFvNiUnrealizedGain
264879000 USD
CY2021Q1 us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
2960000 USD
CY2021Q4 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
361778000 USD
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1900000 USD
CY2022Q1 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 USD
CY2022Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2022Q1 us-gaap Goodwill
Goodwill
7470000 USD
CY2022Q1 us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
Embedded DerivativesEmbedded derivatives that are required to be bifurcated from their host contract are valued separately from the host instrument. A binomial lattice framework is used to estimate the fair value of the embedded derivative in the Series A Redeemable Convertible Preferred Stock issued by the Company in 2019.
CY2022Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.17
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
887000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
887000 USD
CY2022Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
887000 USD
CY2021Q4 us-gaap Notes Receivable Related Parties
NotesReceivableRelatedParties
4000000 USD
CY2022Q1 us-gaap Interest Income Other
InterestIncomeOther
78000 USD
CY2022Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
3408000 USD
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3207000 USD
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
1588000 USD
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1712000 USD
CY2022Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5453000 USD
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4011000 USD
CY2022Q1 us-gaap Inventory Gross
InventoryGross
10449000 USD
CY2021Q4 us-gaap Inventory Gross
InventoryGross
8930000 USD
CY2022Q1 us-gaap Inventory Adjustments
InventoryAdjustments
435000 USD
CY2021Q4 us-gaap Inventory Adjustments
InventoryAdjustments
0 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
343533000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
297774000 USD
CY2022Q1 us-gaap Inventory Net
InventoryNet
10014000 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
8930000 USD
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4789000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4761000 USD
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
904000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
578000 USD
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3885000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4183000 USD
CY2022Q1 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
335000 USD
CY2021Q1 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
35000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
45759000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
343533000 USD
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3000000 USD
CY2021Q1 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2021Q1 actg Accelerated Amortization Of Patents
AcceleratedAmortizationOfPatents
0 USD
CY2022Q1 actg Accelerated Amortization Of Patents
AcceleratedAmortizationOfPatents
0 USD
CY2022Q1 actg Finite Lived Intangible Assets Write Offs
FiniteLivedIntangibleAssetsWriteOffs
35000000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
9102000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
12068000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
10692000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8348000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2483000 USD
CY2022Q1 actg Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
3066000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
45759000 USD
CY2021Q4 us-gaap Other Commitment Due In Next Twelve Months
OtherCommitmentDueInNextTwelveMonths
5000000 USD
CY2022Q1 us-gaap Product Warranty Accrual Classified Current
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78000 USD
CY2022Q1 actg Accrued Consulting And Other Professional Fees
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1335000 USD
CY2021Q4 actg Accrued Consulting And Other Professional Fees
AccruedConsultingAndOtherProfessionalFees
438000 USD
CY2022Q1 us-gaap Contract With Customer Refund Liability Current
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3000000 USD
CY2021Q4 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
3000000 USD
CY2022Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
493000 USD
CY2021Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
506000 USD
CY2022Q1 actg Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
67000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3504000 USD
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1206000 USD
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
84000 USD
CY2022Q1 actg Service Contract Costs Accrued Current
ServiceContractCostsAccruedCurrent
269000 USD
CY2021Q4 actg Service Contract Costs Accrued Current
ServiceContractCostsAccruedCurrent
307000 USD
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1206000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
935000 USD
CY2022Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
968000 USD
CY2021Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
957000 USD
CY2022Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
7349000 USD
CY2021Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
6227000 USD
CY2021Q1 actg Debt Instrument Required Minimum Amount Held In Escrow
DebtInstrumentRequiredMinimumAmountHeldInEscrow
35000000 USD
CY2021Q4 actg Debt Instrument Required Minimum Amount Held In Escrow
DebtInstrumentRequiredMinimumAmountHeldInEscrow
35000000 USD
CY2021Q4 actg Number Of Board Of Directors
NumberOfBoardOfDirectors
6 director
CY2022Q1 actg Number Of Board Of Directors
NumberOfBoardOfDirectors
7 director
CY2022Q1 actg Number Of Additional Directors
NumberOfAdditionalDirectors
2 director
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2298000 USD
CY2021 actg Net Income For Settlement Offset By Contingency Accruals
NetIncomeForSettlementOffsetByContingencyAccruals
1200000 USD
CY2022Q1 actg Net Income For Settlement Offset By Contingency Accruals
NetIncomeForSettlementOffsetByContingencyAccruals
0 USD
CY2021Q1 actg Net Income For Settlement Offset By Contingency Accruals
NetIncomeForSettlementOffsetByContingencyAccruals
0 USD
CY2022Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 USD
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 USD
CY2022Q1 us-gaap Legal Fees
LegalFees
36000 USD
CY2021Q4 us-gaap Legal Fees
LegalFees
408000 USD
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
293000 USD
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
150000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
886000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1203000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
763000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
347000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
238000 USD
CY2022Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3125819 shares
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y6M
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P1Y
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2022Q1 actg Ownership Percent Of Voting Stock
OwnershipPercentOfVotingStock
0.10
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
1080000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
8800000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P5Y
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-73266000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-164465000 USD
CY2022Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
700000 USD
CY2021Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
263000 USD
CY2022Q1 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
1151000 USD
CY2021Q1 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
852000 USD
CY2022Q1 us-gaap Undistributed Continuing Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedContinuingOperationEarningsLossAllocationToParticipatingSecuritiesBasic
0 USD
CY2021Q1 us-gaap Undistributed Continuing Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedContinuingOperationEarningsLossAllocationToParticipatingSecuritiesBasic
-29068000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-75117000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-136512000 USD
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46544313 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46544313 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48596040 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48596040 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.61
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.61
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.81
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.81
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
109029318 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
107100391 shares
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-8508000 USD
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-79636000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-88144000 USD
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6200000 USD
CY2022Q1 actg Trading Securities Fair Value Disclosure
TradingSecuritiesFairValueDisclosure
246484000 USD
CY2021Q4 actg Trading Securities Fair Value Disclosure
TradingSecuritiesFairValueDisclosure
361778000 USD
CY2022Q1 us-gaap Trading Securities Debt
TradingSecuritiesDebt
5816000 USD
CY2021Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
5816000 USD
CY2022Q1 us-gaap Equity Method Investments
EquityMethodInvestments
30934000 USD
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
30934000 USD
CY2022Q1 us-gaap Short Term Investments
ShortTermInvestments
283234000 USD
CY2021Q4 us-gaap Short Term Investments
ShortTermInvestments
398528000 USD
CY2022Q1 us-gaap Other Assets
OtherAssets
152283000 USD
CY2021Q4 us-gaap Other Assets
OtherAssets
172726000 USD
CY2022Q1 us-gaap Assets
Assets
661440000 USD
CY2021Q4 us-gaap Assets
Assets
798856000 USD
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13507000 USD
CY2022Q1 us-gaap Noncurrent Assets
NoncurrentAssets
3885000 USD
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
4183000 USD

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