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Acacia Research Corporation

Acacia Research Corporation

NASDAQ•ACTG
CEO: Mr. Martin D. McNulty Jr.
Sector: Industrials
Industry: Specialty Business Services
Listing Date: 2002-12-16
Acacia Research Corporation focuses on acquiring and managing companies across technology, energy, and industrials verticals. The company operates through three segments, Intellectual Property Operations, Industrial Operations, and Energy Operations. The Intellectual Property Operations segment invests in IP and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The Industrial Operations segment designs and manufactures printers and consumable products for various industrial printing applications. The Energy Operations segment engages in the acquisition, exploration, development, and production of oil and natural gas resources located in Texas and Oklahoma. Acacia Research Corporation was incorporated in 1993 and is headquartered in New York, New York.
Contact Information
767 Third Avenue, 6th Floor, New York, NY, 10017, United States
332-236-8500
www.acaciaresearch.com
Market Cap
$381.98M
P/E (TTM)
79.0
36.4
Dividend Yield
--
52W High
$4.53
52W Low
$2.70
52W Range
69%
Rank46Top 59.5%
3.5
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$59.45M+155.02%
4-Quarter Trend

EPS

-$0.03-79.79%
4-Quarter Trend

FCF

$3.49M-43.70%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Surges 220% Total revenues reached $235.1M, up $161.6M (220%) driven by IP portfolio acquisitions and full period impact of recent deals.
Operating Income Rebounds Operating income was $19.5M, reversing prior $17.1M loss, reflecting strong segment performance across operations for nine months.
Net Income Attributable $18.3M Net income attributable to common stockholders was $18.3M, a $40.9M improvement from prior period loss for nine months.
IP Revenue Growth 301% Intellectual Property revenue grew $58.6M (301%) due to higher average license fees from recent portfolio additions.

Risk Factors

Patent Litigation Costs Rise Inventor royalties and contingent legal fees increased $19.3M (949% and 159% respectively) impacting Cost of Revenues.
Manufacturing Revenue Declines Industrial Operations revenue decreased $1.3M (6%) for nine months, driven by lower consumable product sales volume.
Acquisition Integration Uncertainty Inability to successfully integrate acquired businesses or retain key management poses ongoing operational risks.
Tariff and Trade Policy Risk Uncertainty regarding trade policy and tariffs may adversely affect Industrial and Manufacturing Operations results.

Outlook

Continue Strategic Acquisitions Intends to grow by acquiring operating businesses and intellectual property assets using cash or debt financing.
Benchmark Credit Facility Extended Benchmark Revolving Credit Facility maturity extended to April 2029 via Second Amendment signed November 2025.
Focus on Core Value Pillars Strategy centers on free cash flow generation, book value appreciation, and stock price growth execution.
Manage G&A Expenses Management focuses on streamlining costs, especially within Industrial Operations, despite acquisition-related G&A increases.

Peer Comparison

Revenue (TTM)

Quad/Graphics, Inc.QUAD
$2.50B
-9.2%
Eastman Kodak CompanyKODK
$1.05B
-0.7%
Civeo CorporationCVEO
$628.18M
-10.5%

Gross Margin (Latest Quarter)

Acacia Research CorporationACTG
86.0%
+75.9pp
Spire Global, Inc.SPIR
36.6%
-7.9pp
Eastman Kodak CompanyKODK
25.3%
+8.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
KODK$606.36M109.40.7%26.5%
SPIR$429.97M13.844.3%3.7%
ACTG$381.98M79.00.9%13.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
6.8%
Steady Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Mar 11, 2026
|
EPS:-
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $59.45M+155.0%
    |
    EPS: $-0.03-79.8%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $51.24M+98.3%
    |
    EPS: $-0.03-59.5%
    Meet

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 9, 2025|
    Revenue: $124.42M+411.6%
    |
    EPS: $0.25-13257.9%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 17, 2025|
    Revenue: $122.31M-2.2%
    |
    EPS: $-0.36-150.7%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 12, 2024|
    Revenue: $23.31M+131.2%
    |
    EPS: $-0.14+660.9%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $25.84M+226.9%
    |
    EPS: $-0.08-73.6%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 10, 2024|
    Revenue: $24.32M+64.3%
    |
    EPS: $-0.00-98.1%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 15, 2024|
    Revenue: $125.10M+111.2%
    |
    EPS: $0.71+127.2%
    Beat