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ACTG

Acacia Research Corporation

ACTG

Acacia Research Corporation • NASDAQ
$3.74 ▲ 1.08% (+0.04)
Market Cap $360.76 M
52w High $4.59
52w Low $2.70
Dividend Yield 0%
P/E 62.33
Volume 117.59K
Outstanding Shares 96.46M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $59.446M ▲ $57.571M ▼ $-2.73M ▲ -4.592% ▲ $-0.028 ▲ $9.704M ▼
Q2-2025 $51.237M ▼ $94.637M ▲ $-3.293M ▼ -6.427% ▼ $-0.034 ▼ $12.884M ▼
Q1-2025 $124.422M ▲ $20.632M ▼ $24.287M ▲ 19.52% ▲ $0.25 ▲ $43.104M ▲
Q4-2024 $48.844M ▲ $24.399M ▲ $-13.429M ▲ -27.494% ▲ $-0.14 $3.479M ▼
Q3-2024 $23.31M $12.623M $-13.996M -60.043% $-0.14 $3.602M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $334.789M ▼ $768.871M ▼ $192.033M ▼ $537.611M ▼
Q2-2025 $374.938M ▲ $775.546M ▼ $198.075M ▼ $538.58M ▼
Q1-2025 $326.778M ▼ $801.606M ▲ $224.346M ▲ $540.225M ▲
Q4-2024 $333.765M ▼ $756.394M ▲ $203.775M ▲ $514.825M ▼
Q3-2024 $410.9M $707.572M $129.006M $540.178M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.394M ▲ $9.547M ▼ $-14.248M ▼ $-10.4M ▼ $-14.941M ▼ $3.488M ▼
Q2-2025 $-3.293M ▼ $50.12M ▲ $-1.49M ▼ $-4.269M ▲ $44.757M ▲ $47.907M ▲
Q1-2025 $24.287M ▲ $2.425M ▲ $1.039M ▲ $-6.071M ▼ $-1.916M ▲ $335K ▲
Q4-2024 $-13.429M ▼ $-20.262M ▼ $-95.896M ▼ $30.979M ▲ $-86.17M ▼ $-23.552M ▼
Q3-2024 $-11.657M $-571K $-7.234M $-19.303M $-26.938M $6.195M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
License fees
License fees
 $10.00M ▲$70.00M ▲$0 ▼$10.00M ▲
Natural Gas
Natural Gas
 $10.00M ▲$10.00M ▲$0 ▼$0 ▲
Oil
Oil
 $20.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲
Printers and parts
Printers and parts
 $20.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲
Service
Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Service Other
Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been very small but has generally trended upward, helped by the shift toward operating businesses. Profitability, however, is quite volatile. Net results have swung between solid profits and noticeable losses, largely driven by episodic wins and lumpy revenue from the patent portfolio. Operating margins are thin, and recent results show that day‑to‑day business earnings are not yet consistently strong enough to offset this volatility. Overall, the income statement reflects a company still in transition, with improving scale but no stable earnings pattern yet.

Balance Sheet

Balance Sheet The balance sheet looks relatively sturdy for a company of this size and profile. Cash makes up a meaningful share of total assets, giving management flexibility for acquisitions and restructuring. Debt remains modest compared with equity, indicating low financial leverage and a fair cushion against shocks. That said, a good portion of assets is likely tied to investments, patents, and acquired businesses, which can be subject to write‑downs if performance disappoints. Financially it has room to execute its strategy, but the quality and future earnings power of these assets will be key.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has been patchy, with only modest positive inflows in some years and outflows in others. Free cash flow has been consistently negative, mainly because the company is spending on acquisitions and capital investments while its recurring cash earnings are not yet robust. In practice, this means Acacia is leaning on its cash reserves and balance sheet strength to fund its strategy. The main watchpoint is whether the acquired businesses can ramp up to the point where they cover investment needs and begin to produce steady surplus cash.

Competitive Edge

Competitive Edge Acacia occupies an unusual niche: a mix of intellectual property monetization and ownership of industrial and energy businesses. Its long experience in patents, particularly in complex areas like wireless standards, is a real differentiator and can deliver high‑margin wins when deals land. Through Printronix and Deflecto, it also controls leading positions in several narrow but important industrial niches, with products that are often mission‑critical or regulatory in nature. Against this, Acacia remains relatively small compared with large industrial groups and private equity platforms, faces intense legal and commercial competition in IP, and must prove it can consistently improve and integrate acquired companies rather than just buy them.

Innovation and R&D

Innovation and R&D Innovation at Acacia is less about big in‑house laboratories and more about acquiring, evaluating, and monetizing technology and mature product platforms. Its core innovative edge is in finding undervalued patents and turning them into licensing income, as seen with the WiFi‑6 portfolio. On the operating side, Printronix and Deflecto focus on practical, incremental innovations—rugged industrial printers, safety and office products, and manufacturing know‑how protected by a large number of patents. In energy, the emphasis appears to be on applying modern data and operational techniques rather than breakthrough science. Overall, the company’s future innovation pipeline will depend heavily on disciplined deal‑making and continuous product improvements inside its acquired businesses, not on classic high‑R&D spending.

Summary

Acacia is in the midst of a major strategic pivot from a pure patent enforcement story to a diversified holding company with industrial and energy exposure. Financially, revenue is slowly building but earnings remain volatile and free cash flow is negative as the company invests. The balance sheet still provides room to maneuver, with significant cash and limited debt, but that cushion will matter more as investment needs continue. Its competitive strengths lie in specialized IP expertise and niche leadership positions in essential industrial products, combined with a value‑oriented acquisition approach guided by a major shareholder. The main uncertainties are execution risk in integrating and improving acquired businesses, the inherently lumpy nature of IP income, and exposure to cost pressures and cyclicality in manufacturing and energy. The story is less about near‑term smooth profits and more about whether management can turn today’s portfolio into a set of consistently cash‑generative businesses over time.

NEWS

November 17, 2025 · 9:00 AM UTC

Acacia Research Corporation to Present and Host 1x1 Investor Meetings at the 17th Annual Southwest IDEAS Investor Conference on November 20th in Dallas, TX

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November 5, 2025 · 7:00 AM UTC

Acacia Research Corporation Reports Third Quarter 2025 Financial Results

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October 23, 2025 · 7:30 AM UTC

Acacia Research to Release Third Quarter 2025 Financial Results on November 5, 2025

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