Acacia Research Corp. (ACTG) financials — revenue, cash, debt and margins

Acacia Research Corp. (ACTG) financials — revenue, cash, debt and margins — InspectStocks

Key figures

Trailing twelve months where a flow is involved, latest reported balance where it is not.

Valuation

Market cap: $423.5M
P/E (TTM): —
Price / sales: 1.52
EV / EBITDA: 6.78
Price / book: 0.80

Cash flow

FCF yield: -36.1%
SBC-adjusted FCF yield: -37.2%
SBC impact: —
Stock compensation (TTM): $6.1M

Margins & growth

Profit margin: -5.4%
Operating margin: -7.0%
Quarterly revenue (year on year): 123.6%
Quarterly earnings (year on year): —

Balance sheet

Cash & investments: $410.9M
Debt: $102.5M
Net cash / (debt): $308.4M

Where the revenue comes from

Paid Up Revenue Agreements is 27% of revenue.

By product or service

Year to Dec 31, 2025 · $285.2M

Paid Up Revenue Agreements27%
$76.9M+345.5% vs. a year earlier
Transportation Safety15%
$42.6M+433.6% vs. a year earlier
Air Distribution13%
$37.6M+383.0% vs. a year earlier
Office Storage and Display Solutions12%
$34.6M+366.6% vs. a year earlier
Oil Reserves10%
$28.5M+7.8% vs. a year earlier
Printers Consumables and Parts9%
$25.1M-7.3% vs. a year earlier
Natural Gas Reserves6%
$18.2M+97.8% vs. a year earlier
Natural Gas Liquids Reserves5%
$15.1M+15.9% vs. a year earlier
Service1%
$3.2M-5.3% vs. a year earlier
Service Other1%
$2M+298.8% vs. a year earlier
Recurring Revenue Agreements1%
$1.5M-34.4% vs. a year earlier

By business segment

Year to Dec 31, 2025 · $285.2M

Manufacturing Operations40%
$114.8M+395.2% vs. a year earlier
Intellectual Property Operations27%
$78.4M+301.3% vs. a year earlier
Energy Operations22%
$63.8M+29.8% vs. a year earlier
Industrial Operations10%
$28.3M-7.1% vs. a year earlier

By region

Year to Dec 31, 2025 · $285.2M

United States76%
$216.5M+159.6% vs. a year earlier
Canada and Latin America8%
$24.1M+443.5% vs. a year earlier
China8%
$23M+128.9% vs. a year earlier
EMEA5%
$15.1M+58.4% vs. a year earlier
Asia Pacific excluding China and India2%
$4.5M-62.9% vs. a year earlier
India1%
$2M-27.1% vs. a year earlier

What it owns and what it owes

Both on one scale, because both are money — the bar that is taller is the one that matters.

Cash and debt

Cash & InvestmentsTotal Debt

Cash counts short-term investments, not just the bank balance — technology companies park most of it in marketable securities, and leaving those out understates it several times over. Debt includes lease obligations.

Where the money goes

Cost of RevenueR&D ExpenseSG&A Expense

Only the three costs filers report consistently. Anything a company does not break out sits outside these bands, so the stack is not the whole cost base.

The rest of the series

Not on the overview because five charts is as much as one decision needs — but here in full, on one period switch. Each bar sums the four quarters ending there — a full year, brought up to today.

Total Revenue

$278.37MQ2 2026+29.4%

1Y: +12.33%2Y: +82.48%5Y: +491.63%

Everything the company sold, before any costs. Each bar sums the four quarters ending there — a full year, brought up to today.

EBITDA

$16.99MQ2 2026+1,648.4%

1Y: -60.93%2Y: -69.58%5Y: +370.17%

Operating profit before depreciation and amortisation — approximated from operating income, because no depreciation tag is reported consistently enough across filers to do better. Treat it as indicative. Each bar sums the four quarters ending there — a full year, brought up to today.

Profit

-$15.01MQ2 2026+18.2%-5.4% of revenue

1Y: -133.34%2Y: -122.15%5Y: +42.76%

What was left after every cost, including tax. Each bar sums the four quarters ending there — a full year, brought up to today.

Profit margin

-5.4%Q2 2026+36.8%

How much of every dollar of sales the company keeps as profit. A grocer keeps a few cents; a software company can keep half. Each point covers the four quarters ending there — a full year, brought up to today.

Free Cash Flow

-$152.78MQ1 2025-55.0%

1Y: -520.81%2Y: -288.72%5Y: -3,586.06%

Cash left over after running and maintaining the business. Each bar sums the four quarters ending there — a full year, brought up to today.

Profit per share

-$0.16Q2 2026+15.8%

1Y: -220.00%2Y: -121.43%5Y: +82.80%

The same profit, split across every share. If this lags the profit chart above, the company is issuing shares and your slice is getting smaller. Restated onto today’s share count, so stock splits do not show as jumps. Each bar sums the four quarters ending there — a full year, brought up to today.

Shares outstanding

97.14MQ2 2026+0.5%

How many shares the profit is divided across. Rising is dilution; falling is the company buying itself back. Restated onto today’s basis, so splits do not show as jumps. Each point covers the four quarters ending there — a full year, brought up to today.

Price to earnings

22.0xQ1 2026+199.1%

22.0x today · median 7.4x and range 1.8x–22.0x across the points shown, Q4 2017 to Q1 2026 The breaks in the line cover 22 periods with no meaningful multiple — a loss, or earnings so small the ratio says more about the denominator than the price.

Paid per unit of yearly profit. Periods with a loss, or profits too small for the ratio to mean anything, are left out — the line breaks rather than drawing through them. Each point covers the four quarters ending there — a full year, brought up to today.

Dividends paid

$0.00Q4 2024

1Y: -100.00%2Y: -100.00%

Cash handed to shareholders. A flat line at zero means the company pays none. Each bar sums the four quarters ending there — a full year, brought up to today.

About Acacia Research Corp.

Ticker: ACTG
SEC classification: Patent Owners & Lessors (6794)
Listed on: Nasdaq
Incorporated in: DE
Financial year ends: December 31
Filer size: Accelerated filer<br>Smaller reporting company

About this data

Everything above comes from Acacia Research Corp.’s own filings with the SEC, as reported. No estimates, no analyst figures, nothing adjusted.

Share-count jumps we cannot explain: 1.71x around Dec 31, 2021, 0.43x around Dec 31, 2022, and 2.18x around Dec 31, 2023. No split accounts for these, so nothing was adjusted — most often it is real dilution rather than a data problem, which is why it is flagged and not corrected.

Not reported by this filer: Interest Income, Net Interest Income, Non-interest Income, Non-interest Expense, Provision for Credit Losses, Deposits, Loans, Short-term Borrowings, Borrowings (total), and Finance Lease Liabilities (total). Companies choose which XBRL tags to use, and anything untagged cannot be recovered — so these are blank rather than guessed.

Key figures

Trailing twelve months where a flow is involved, latest reported balance where it is not.

Valuation

Market cap: $423.5M
P/E (TTM): —
Price / sales: 1.52
EV / EBITDA: 6.78
Price / book: 0.80

Cash flow

FCF yield: -36.1%
SBC-adjusted FCF yield: -37.2%
SBC impact: —
Stock compensation (TTM): $6.1M

Margins & growth

Profit margin: -5.4%
Operating margin: -7.0%
Quarterly revenue (year on year): 123.6%
Quarterly earnings (year on year): —

Balance sheet

Cash & investments: $410.9M
Debt: $102.5M
Net cash / (debt): $308.4M

Where the revenue comes from

Paid Up Revenue Agreements is 27% of revenue.

By product or service

Year to Dec 31, 2025 · $285.2M

Paid Up Revenue Agreements27%
$76.9M+345.5% vs. a year earlier
Transportation Safety15%
$42.6M+433.6% vs. a year earlier
Air Distribution13%
$37.6M+383.0% vs. a year earlier
Office Storage and Display Solutions12%
$34.6M+366.6% vs. a year earlier
Oil Reserves10%
$28.5M+7.8% vs. a year earlier
Printers Consumables and Parts9%
$25.1M-7.3% vs. a year earlier
Natural Gas Reserves6%
$18.2M+97.8% vs. a year earlier
Natural Gas Liquids Reserves5%
$15.1M+15.9% vs. a year earlier
Service1%
$3.2M-5.3% vs. a year earlier
Service Other1%
$2M+298.8% vs. a year earlier
Recurring Revenue Agreements1%
$1.5M-34.4% vs. a year earlier

By business segment

Year to Dec 31, 2025 · $285.2M

Manufacturing Operations40%
$114.8M+395.2% vs. a year earlier
Intellectual Property Operations27%
$78.4M+301.3% vs. a year earlier
Energy Operations22%
$63.8M+29.8% vs. a year earlier
Industrial Operations10%
$28.3M-7.1% vs. a year earlier

By region

Year to Dec 31, 2025 · $285.2M

United States76%
$216.5M+159.6% vs. a year earlier
Canada and Latin America8%
$24.1M+443.5% vs. a year earlier
China8%
$23M+128.9% vs. a year earlier
EMEA5%
$15.1M+58.4% vs. a year earlier
Asia Pacific excluding China and India2%
$4.5M-62.9% vs. a year earlier
India1%
$2M-27.1% vs. a year earlier

What it owns and what it owes

Both on one scale, because both are money — the bar that is taller is the one that matters.

Cash and debt

Cash & InvestmentsTotal Debt

Where the money goes

Cost of RevenueR&D ExpenseSG&A Expense

Only the three costs filers report consistently. Anything a company does not break out sits outside these bands, so the stack is not the whole cost base.

The rest of the series

Not on the overview because five charts is as much as one decision needs — but here in full, on one period switch. Each bar sums the four quarters ending there — a full year, brought up to today.

Total Revenue

$278.37MQ2 2026+29.4%

1Y: +12.33%2Y: +82.48%5Y: +491.63%

Everything the company sold, before any costs. Each bar sums the four quarters ending there — a full year, brought up to today.

EBITDA

$16.99MQ2 2026+1,648.4%

1Y: -60.93%2Y: -69.58%5Y: +370.17%

Profit

-$15.01MQ2 2026+18.2%-5.4% of revenue

1Y: -133.34%2Y: -122.15%5Y: +42.76%

What was left after every cost, including tax. Each bar sums the four quarters ending there — a full year, brought up to today.

Profit margin

-5.4%Q2 2026+36.8%

Free Cash Flow

-$152.78MQ1 2025-55.0%

1Y: -520.81%2Y: -288.72%5Y: -3,586.06%

Cash left over after running and maintaining the business. Each bar sums the four quarters ending there — a full year, brought up to today.

Profit per share

-$0.16Q2 2026+15.8%

1Y: -220.00%2Y: -121.43%5Y: +82.80%

Shares outstanding

97.14MQ2 2026+0.5%

Price to earnings

22.0xQ1 2026+199.1%

Dividends paid

$0.00Q4 2024

1Y: -100.00%2Y: -100.00%

Cash handed to shareholders. A flat line at zero means the company pays none. Each bar sums the four quarters ending there — a full year, brought up to today.

About Acacia Research Corp.

Ticker: ACTG
SEC classification: Patent Owners & Lessors (6794)
Listed on: Nasdaq
Incorporated in: DE
Financial year ends: December 31
Filer size: Accelerated filer<br>Smaller reporting company

About this data

Everything above comes from Acacia Research Corp.’s own filings with the SEC, as reported. No estimates, no analyst figures, nothing adjusted.