ACACIA RESEARCH CORP

EDGAR

Annual consolidated revenue for 2025: about USD 285.2M, using the latest reported figures. The previous period, 2024, was about USD 122.3M.

Watchlist

Latest quarter

Revenue

115 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

7.43%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: 8516000 USD Source
  • Revenue: 114562000 USD Source

Operating cash flow

3.9 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 7307000 USD Source
  • Operating Cash Flow: 3403000 USD Source
Cash and cash equivalents
308 million USD Source
Exact value

307635000 USD

Long-term debt including current maturities
90.9 million USD Source
Exact value

90884000 USD

Shares outstanding
97.6 million shares Source
Exact value

97586805 shares

Reported share-count change

1.18% · 1.14 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 96444993 shares · 2025-06-30· Source
  • 97586805 shares · 2026-06-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

278 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 59446000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 285232000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 235105000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 54239000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 114562000 USD · 2026-04-01 – 2026-06-30 Source

Net income

-15 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: -2730000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: 21682000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 18264000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: -15741000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 47000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

30 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 62092000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 52545000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 75242000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 62092000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 3403000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 7307000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 3403000 USD · 2026-01-01 – 2026-03-31 Source

Capital expenditure

150 million USD

2024-04-01 – 2025-03-31

Exact inputs and evidence
  • Capital expenditure: 143143000 USD · 2024-01-01 – 2024-06-30 Source
  • Capital expenditure: 270000 USD · 2024-01-01 – 2024-03-31 Source
  • Capital expenditure: 145377000 USD · 2024-01-01 – 2024-09-30 Source
  • Capital expenditure: 143143000 USD · 2024-01-01 – 2024-06-30 Source
  • Capital expenditure: 148667000 USD · 2024-01-01 – 2024-12-31 Source
  • Capital expenditure: 145377000 USD · 2024-01-01 – 2024-09-30 Source
  • Capital expenditure: 2090000 USD · 2025-01-01 – 2025-03-31 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-08-06.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 9 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 10 of 11 periods available· newest 2024-12-31
  • Total assets: 9 of 11 periods available· newest 2025-12-31
  • Total liabilities: 9 of 11 periods available· newest 2025-12-31
  • Current assets: 9 of 11 periods available· newest 2025-12-31
  • Current liabilities: 9 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 9 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 1 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 9 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +133.2%

    Prior period

    USD 122.31 million

    –

    Current period

    USD 285.23 million

    –

    Exact inputs and evidence

    285232000 − 122312000 = 162920000 USD

    122312000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    285232000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Net income

    +USD 57.74 million

    Prior period

    −USD 36.06 million

    –

    Current period

    USD 21.68 million

    –

    Exact inputs and evidence

    21682000 − -36057000 = 57739000 USD

    -36057000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    21682000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +50.1%

    Prior period

    USD 50.12 million

    –

    Current period

    USD 75.24 million

    –

    Exact inputs and evidence

    75242000 − 50122000 = 25120000 USD

    50122000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    75242000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Capital expenditure.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 285.23 million 100% of revenue
  • Operating costs Derived USD 278.82 million 98% of revenue
  • Operating income USD 6.41 million 2.2% of revenue
  • Tax, interest and other Derived −USD 15.27 million −5.4% of revenue
  • Net income USD 21.68 million 7.6% of revenue

Cash

  • Operating cash flow USD 75.24 million 26% of revenue
  • Capital expenditure Unavailable An input is unavailable.
  • Free cash flow Derived Unavailable An input is unavailable.

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2017 Operating loss: operating costs were 142% of revenue.
  • 2018 Operating loss: operating costs were 119% of revenue.
  • 2019 Operating loss: operating costs were 308% of revenue.
  • 2020 Operating loss: operating costs were 166% of revenue.
  • 2021 Net income was higher than operating income, so the split is not drawn.
  • 2022 Operating loss: operating costs were 168% of revenue.
  • 2023 Net income was higher than operating income, so the split is not drawn.
  • 2024 Operating loss: operating costs were 127% of revenue.
  • 2025 Net income was higher than operating income, so the split is not drawn.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2017 2017-01-01 – 2017-12-3165402000 92674000 Derived -27272000 -49452000 Derived 22180000 12964000 Derived
Source
2018 2018-01-01 – 2018-12-31131506000 156195000 Derived -24689000 80340000 Derived -105029000 20843000 Derived
Source
2019 2019-01-01 – 2019-12-3111246000 34664000 Derived -23418000 -6303000 Derived -17115000 -2491000 Derived
Source
2020 2020-01-01 – 2020-12-3129782000 49300000 Derived -19518000 -128749000 Derived 109231000 -19819000 Derived
Source
2021 2021-01-01 – 2021-12-3188047000 73502000 Derived 14545000 -134652000 Derived 149197000 13235000 Derived
Source
2022 2022-01-01 – 2022-12-3159223000 99315000 Derived -40092000 84973000 Derived -125065000 -38068000 Derived
Source
2023 2023-01-01 – 2023-12-31125102000 104166000 Derived 20936000 -46124000 Derived 67060000 -22695000 Derived
Source
2024 2024-01-01 – 2024-12-31122312000 155238000 Derived -32926000 3131000 Derived -36057000 -98545000 Derived
Source
2025 2025-01-01 – 2025-12-31285232000 278823000 Derived 6409000 -15273000 Derived 21682000 Unavailable
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 285.2M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.308.1M231.0M154.0M77.0M0.0201720212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Revenue65402000
2018Revenue131506000
2019Revenue11246000
2020Revenue29782000
2021Revenue88047000
2022Revenue59223000
2023Revenue125102000
2024Revenue122312000
2025Revenue285232000

Revenue growth

Change in revenue from the same financial period one year earlier.

133.2% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.219%135%52%-31%-114%201720212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2017Year over yearNo prior comparable period
2018Year over year101.1%
2019Year over year-91.4%
2020Year over year164.8%
2021Year over year195.6%
2022Year over year-32.7%
2023Year over year111.2%
2024Year over year-2.2%
2025Year over year133.2%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 2.2% 2025
Net margin 7.6% 2025
Free cash flow margin -80.6% 2024
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.413%245%78%-90%-257%201720212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2017Operating margin-41.7%
2018Operating margin-18.8%
2019Operating margin-208.2%
2020Operating margin-65.5%
2021Operating margin16.5%
2022Operating margin-67.7%
2023Operating margin16.7%
2024Operating margin-26.9%
2025Operating margin2.2%
2017Net margin33.9%
2018Net margin-79.9%
2019Net margin-152.2%
2020Net margin366.8%
2021Net margin169.5%
2022Net margin-211.2%
2023Net margin53.6%
2024Net margin-29.5%
2025Net margin7.6%
2017Free cash flow margin19.8%
2018Free cash flow margin15.8%
2019Free cash flow margin-22.2%
2020Free cash flow margin-66.5%
2021Free cash flow margin15%
2022Free cash flow margin-64.3%
2023Free cash flow margin-18.1%
2024Free cash flow margin-80.6%
2025Free cash flow marginNot reported

Operating cash flow

Cash generated by the company’s normal business operations.

USD 75.2M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.84.2M51.6M19.0M-13.7M-46.3M201720212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Operating cash flow12966000
2018Operating cash flow20877000
2019Operating cash flow-2308000
2020Operating cash flow-19620000
2021Operating cash flow13326000
2022Operating cash flow-37336000
2023Operating cash flow-22506000
2024Operating cash flow50122000
2025Operating cash flow75242000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD -98.5M 2024
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.30.4M-4.2M-38.9M-73.5M-108.1M201720212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Free cash flow12964000
2018Free cash flow20843000
2019Free cash flow-2491000
2020Free cash flow-19819000
2021Free cash flow13235000
2022Free cash flow-38068000
2023Free cash flow-22695000
2024Free cash flow-98545000
2025Free cash flowUnavailable

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

24.2% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.48%36%24%12%0%201720212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2017Liabilities / assets4.2%
2018Liabilities / assets14.6%
2019Liabilities / assets16.1%
2020Liabilities / assets41.5%
2021Liabilities / assets44.3%
2022Liabilities / assets40.1%
2023Liabilities / assets6.9%
2024Liabilities / assets26.9%
2025Liabilities / assets24.2%

Current assets to current liabilities

Current assets divided by current liabilities.

9.18× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.21.67×16.25×10.84×5.42×0.00×201720212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2017Current assets / current liabilities14.62×
2018Current assets / current liabilities6.49×
2019Current assets / current liabilities14.79×
2020Current assets / current liabilities3.67×
2021Current assets / current liabilities3.65×
2022Current assets / current liabilities4.91×
2023Current assets / current liabilities20.06×
2024Current assets / current liabilities8.46×
2025Current assets / current liabilities9.18×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
−USD 54.07 million
Exact value

Exact value: -54067000 USD

2016-01-01 – 2016-12-31: -54067000 USD Inspect Net Income Open source
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USD 34.06 million
Exact value

Exact value: 34061000 USD

2016-01-01 – 2016-12-31: 34061000 USD Inspect Operating Cash Flow Open source
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USD 4,000
Exact value

Exact value: 4000 USD

2016-01-01 – 2016-12-31: 4000 USD Inspect Capital Expenditure Open source
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USD 34.06 million
Calculation and evidence

34061000 − 4000 USD

Exact free cash flow: 34057000 USD

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2017 2017-01-01 – 2017-12-31
USD 22.18 million
Exact value

Exact value: 22180000 USD

2017-01-01 – 2017-12-31: 22180000 USD Inspect Net Income Open source
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USD 12.97 million
Exact value

Exact value: 12966000 USD

2017-01-01 – 2017-12-31: 12966000 USD Inspect Operating Cash Flow Open source
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USD 2,000
Exact value

Exact value: 2000 USD

2017-01-01 – 2017-12-31: 2000 USD Inspect Capital Expenditure Open source
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USD 12.96 million
Calculation and evidence

12966000 − 2000 USD

Exact free cash flow: 12964000 USD

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2018 2018-01-01 – 2018-12-31
−USD 105.03 million
Exact value

Exact value: -105029000 USD

2018-01-01 – 2018-12-31: -105029000 USD Inspect Net Income Open source
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USD 20.88 million
Exact value

Exact value: 20877000 USD

2018-01-01 – 2018-12-31: 20877000 USD Inspect Operating Cash Flow Open source
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USD 34,000
Exact value

Exact value: 34000 USD

2018-01-01 – 2018-12-31: 34000 USD Inspect Capital Expenditure Open source
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USD 20.84 million
Calculation and evidence

20877000 − 34000 USD

Exact free cash flow: 20843000 USD

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2019 2019-01-01 – 2019-12-31
−USD 17.12 million
Exact value

Exact value: -17115000 USD

2019-01-01 – 2019-12-31: -17115000 USD Inspect Net Income Open source
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−USD 2.31 million
Exact value

Exact value: -2308000 USD

2019-01-01 – 2019-12-31: -2308000 USD Inspect Operating Cash Flow Open source
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USD 183,000
Exact value

Exact value: 183000 USD

2019-01-01 – 2019-12-31: 183000 USD Inspect Capital Expenditure Open source
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−USD 2.49 million
Calculation and evidence

-2308000 − 183000 USD

Exact free cash flow: -2491000 USD

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2020 2020-01-01 – 2020-12-31
USD 109.23 million
Exact value

Exact value: 109231000 USD

2020-01-01 – 2020-12-31: 109231000 USD Inspect Net Income Open source
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−USD 19.62 million
Exact value

Exact value: -19620000 USD

2020-01-01 – 2020-12-31: -19620000 USD Inspect Operating Cash Flow Open source
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USD 199,000
Exact value

Exact value: 199000 USD

2020-01-01 – 2020-12-31: 199000 USD Inspect Capital Expenditure Open source
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−USD 19.82 million
Calculation and evidence

-19620000 − 199000 USD

Exact free cash flow: -19819000 USD

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2021 2021-01-01 – 2021-12-31
USD 149.2 million
Exact value

Exact value: 149197000 USD

2021-01-01 – 2021-12-31: 149197000 USD Inspect Net Income Open source
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USD 13.33 million
Exact value

Exact value: 13326000 USD

2021-01-01 – 2021-12-31: 13326000 USD Inspect Operating Cash Flow Open source
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USD 91,000
Exact value

Exact value: 91000 USD

2021-01-01 – 2021-12-31: 91000 USD Inspect Capital Expenditure Open source
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USD 13.24 million
Calculation and evidence

13326000 − 91000 USD

Exact free cash flow: 13235000 USD

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2022 2022-01-01 – 2022-12-31
−USD 125.07 million
Exact value

Exact value: -125065000 USD

2022-01-01 – 2022-12-31: -125065000 USD Inspect Net Income Open source
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−USD 37.34 million
Exact value

Exact value: -37336000 USD

2022-01-01 – 2022-12-31: -37336000 USD Inspect Operating Cash Flow Open source
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USD 732,000
Exact value

Exact value: 732000 USD

2022-01-01 – 2022-12-31: 732000 USD Inspect Capital Expenditure Open source
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−USD 38.07 million
Calculation and evidence

-37336000 − 732000 USD

Exact free cash flow: -38068000 USD

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2023 2023-01-01 – 2023-12-31
USD 67.06 million
Exact value

Exact value: 67060000 USD

2023-01-01 – 2023-12-31: 67060000 USD Inspect Net Income Open source
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−USD 22.51 million
Exact value

Exact value: -22506000 USD

2023-01-01 – 2023-12-31: -22506000 USD Inspect Operating Cash Flow Open source
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USD 189,000
Exact value

Exact value: 189000 USD

2023-01-01 – 2023-12-31: 189000 USD Inspect Capital Expenditure Open source
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−USD 22.7 million
Calculation and evidence

-22506000 − 189000 USD

Exact free cash flow: -22695000 USD

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2024 2024-01-01 – 2024-12-31
−USD 36.06 million
Exact value

Exact value: -36057000 USD

2024-01-01 – 2024-12-31: -36057000 USD Inspect Net Income Open source
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USD 50.12 million
Exact value

Exact value: 50122000 USD

2024-01-01 – 2024-12-31: 50122000 USD Inspect Operating Cash Flow Open source
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USD 148.67 million
Exact value

Exact value: 148667000 USD

2024-01-01 – 2024-12-31: 148667000 USD Inspect Capital Expenditure Open source
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−USD 98.55 million
Calculation and evidence

50122000 − 148667000 USD

Exact free cash flow: -98545000 USD

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2025 2025-01-01 – 2025-12-31
USD 21.68 million
Exact value

Exact value: 21682000 USD

2025-01-01 – 2025-12-31: 21682000 USD Inspect Net Income Open source
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USD 75.24 million
Exact value

Exact value: 75242000 USD

2025-01-01 – 2025-12-31: 75242000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

308 filings · 10,770 latest values · 10,770 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0000934549, 934549, ACTG, edgar:934549

Also known as ACACIA RESEARCH CORP, ACACIA RESEARCH CORPORATION, Acacia Research Corporation