Headquartered in New York, NY Fiscal year ends December NASDAQ: ACTG acaciaresearch.com
Acacia Research Corporation (Nasdaq: ACTG) acquires and operates businesses across public and private markets, primarily in the industrial, energy and technology sectors. It evaluates opportunities based on the attractiveness of underlying cash flows, without a set investment horizon. It reports four operating segments:
- Energy Operations (Benchmark Energy): oil and natural gas production and development, including the Western Anadarko Basin, supported by a commodity hedging program.
- Industrial Operations (Printronix): industrial printing products.
- Manufacturing Operations (Deflecto): manufactured products, with facilities including the U.K.
- Intellectual Property Operations (Acacia Research Group): patent licensing and enforcement, including interests in a Wi-Fi 7 patent portfolio.
Acacia also holds equity securities and Bitcoin-collateralized commercial loans purchased through a partnership with Unchained Capital. It has a relationship with Starboard Value LP and carries no parent-level debt; subsidiary financing is non-recourse. Updated
Patent licensing has effectively gone to zero, contributing just $263,000 in revenue, yet the quarter still landed in the black against a consensus loss. Benchmark Energy carried the quarter, and its new non-recourse note financing funds a Western Anadarko drilling program without touching the parent balance sheet.
Acacia Research reports before the open with four straight EPS beats behind it, and consensus sitting at a loss of $0.10 on $45.5 million in revenue. The $9 billion Kohl's bid makes this the rare quarter where the capital allocation commentary matters more than the numbers.
Acacia Research Corporation (Nasdaq: ACTG) acquires and operates businesses across public and private markets, primarily in the industrial, energy and technology sectors. It evaluates opportunities based on the attractiveness of underlying cash flows, without a set investment horizon.
The Wall Street consensus 12-month price target for ACTG is $6.00.