Acacia Research Corp
NASDAQ:ACTG

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Acacia Research Corp
NASDAQ:ACTG
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Price: 4.84 USD -3.59% Market Closed
Market Cap: $483.4m

Acacia Research Corp
Investor Relations

Acacia Research Corp. engages in the acquisition, development, and patents technologies through its subsidiaries. The company is headquartered in New York City, New York and currently employs 122 full-time employees. The firm's operating subsidiaries partner with inventors and patent owners, applying their legal and technology expertise to patent assets to unlock the financial value in their patented inventions. The firm's operating subsidiaries assist patent owners with the prosecution and development of their patent portfolios, the protection of their patented inventions from unauthorized use, the generation of licensing revenue from users of their patented technologies and, where necessary, with the enforcement against unauthorized users of their patented technologies through the filing of patent infringement litigation. The firm's operating subsidiaries own or control the rights to multiple patent portfolios, which include the United States patents and certain foreign counterparts, covering technologies used in a range of industries.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 11, 2026
AI Summary
Q4 2025

Record year: Acacia delivered a 2025 record $285.2 million in revenue, up 133% year‑over‑year, with consolidated GAAP net income of $21.7 million ($0.22 per diluted share).

Q4 snapshot: Q4 revenue was $50.1 million (up 3% YoY); GAAP net income attributable was $3.4 million ($0.04 per share).

Operating performance: Operated segment adjusted EBITDA was $96.4 million for 2025 (total company adjusted EBITDA $77.9 million) and operating cash flow was $75.2 million.

Balance sheet strength: Cash, fair‑value equity securities and loans receivable totaled $339.6 million at year‑end; parent debt was $0 and consolidated indebtedness was $92.1 million.

Benchmark update: First drilled Cherokee well completed and expected to begin producing imminently; Benchmark hedges ~75% of operated oil and gas production with an average hedge price around $70/barrel.

Deflecto actions: Q4 Deflecto revenue $26.4 million; company consolidated Portland into Dover, sold parts of business and U.K. facility, generating ~ $5 million proceeds and expected ~$2 million annualized cost savings.

IP volatility and benefit: Intellectual property generated modest Q4 revenue ($326,000) but large EBITDA benefit in Q4 ($12.1 million) driven by a settlement; IP is episodic but remains a monetization channel.

Capital allocation stance: Management is evaluating buybacks and acquisitions but will act only when comfortable with constraints and timing; some buyback limits roll off over the next couple of quarters.

Key Financials
Total revenue (Q4 2025)
$50.1 million
Total revenue (FY 2025)
$285.2 million
GAAP operating income (Q4 2025)
loss of $13.1 million
GAAP operating income (FY 2025)
$6.4 million
GAAP net income attributable (Q4 2025)
$3.4 million
GAAP net income attributable (FY 2025)
$21.7 million
Book value per share (Dec 31, 2025)
$6.05
Cash, cash equivalents, equity securities & loans receivable (Dec 31, 2025)
$339.6 million
Consolidated indebtedness (Dec 31, 2025)
$92.1 million
Parent indebtedness (Dec 31, 2025)
$0
Operated segment adjusted EBITDA (FY 2025)
$96.4 million
Total company adjusted EBITDA (FY 2025)
$77.9 million
Operating cash flow (FY 2025)
$75.2 million
Deflecto revenue (Q4 2025)
$26.4 million
Benchmark revenue (Q4 2025)
$16.0 million
Industrial operations revenue (Q4 2025)
$7.3 million
Intellectual Property revenue (Q4 2025)
$326,000
Intellectual Property adjusted EBITDA (Q4 2025)
$12.1 million
Benchmark hedge coverage
approximately 75% of operated production hedged
Average hedge price (oil)
about $70 per barrel
Benchmark LTM commodity revenue mix
approximately 54% driven by gas and NGLs
Benchmark LTM production mix (BOE basis)
approximately 78% driven by gas and NGLs
Parent reported G&A (Q4 2025)
$7.0 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Martin D. McNulty Jr.
CEO, COO, Head of M&A and Director
No Bio Available
Ms. Kirsten Hoover
Interim CFO, Principal Accounting Officer & Corporate Controller
No Bio Available
Mr. Jason W. Soncini J.D.
General Counsel
No Bio Available
Robert Rasamny
Chief Administrative Officer
No Bio Available
Mr. George Broadbin
Principal
No Bio Available
Ms. Jennifer Graff
Corporate Secretary
No Bio Available

Contacts

Address
NEW YORK
New York City
767 3Rd Avenue, 6Th Floor, Suite 602
Contacts
+19494808300.0
acaciaresearch.com
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