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

$482.30M

P/E (TTM)

19.0

Dividend Yield

52W High

$5.10

52W Low

$2.70

52W Range

96%

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

Q4 2025 Data

Revenue

$50.13M+0.00%

4-Quarter Trend

EPS

$0.04+0.00%

4-Quarter Trend

FCF

$0.00+0.00%

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

$2.42B

-9.4%

WNC

$1.54B

-20.8%

KODK

$1.05B

-0.7%

Gross Margin (Latest Quarter)

ACTG

85.6%

+75.9pp

SBC

69.0%

-12.5pp

SPIR

36.6%

-7.9pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
KODK	$576.50M	104.0	0.7%	26.5%
ACTG	$482.30M	19.0	4.7%	1.1%
PANL	$468.79M	23.7	4.6%	2.9%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-26.1%

Growth Under Pressure

4Q Net Income CAGR

-33.5%

Declining Profitability

Cash Flow Stability

75%

Volatile Cash Flow

Deep Research

Next earnings:Mar 12, 2026

EPS:-$0.14

Revenue:$38.00M

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data