Welcome to our dedicated page for Acacia Research Corporation news (Ticker: ACTG), a resource for investors and traders seeking the latest updates and insights on Acacia Research Corporation stock.
Acacia Research Corporation (Nasdaq: ACTG) is a leading company in the field of patent licensing and strategic business acquisitions. By partnering with patent owners, Acacia uses its extensive legal and technological expertise to unlock substantial financial value from patent assets, serving as an intermediary in the patent market to enhance efficiency and deliver monetary rewards to patent owners. Since its inception, Acacia has generated over $1.2 billion in revenue and returned more than $705 million to its patent partners.
Acacia's business model focuses on acquiring and managing companies across diverse industries such as industrial, energy, technology, and healthcare. Through strategic acquisitions, restructurings, and investments, the company aims to unlock value in these businesses. Acacia operates three primary segments: Intellectual Property Operations, Industrial Operations, and Energy Operations. The Intellectual Property segment specializes in licensing and enforcing patented technologies. The Industrial segment designs and manufactures printers and consumable products for industrial printing applications, while the Energy segment is involved in oil and gas exploration, development, and production.
As of November 2023, Acacia announced its financial results for the third quarter of 2023, revealing a consolidated revenue of $10.1 million. This includes a significant achievement with the sale of its shares in Arix Bioscience PLC for $57.1 million, expected to complete in Q1 2024. Acacia also acquired a majority stake in Benchmark Energy II LLC, focusing on the growth of oil and gas assets in Texas and Oklahoma. Additionally, the company approved a stock repurchase program valued at up to $20 million.
Acacia continues to pursue attractive business opportunities based on the attractiveness of underlying cash flows, irrespective of a specific investment horizon. With a robust capital base and deep industry relationships, Acacia is well-positioned to drive value in its acquired businesses by focusing on people, process, and performance.
Acacia Research (Nasdaq: ACTG) reported its third quarter 2024 financial results, generating $23.3 million in consolidated revenue, a 131% increase year-over-year. Energy operations contributed $15.8 million, while industrial operations added $7.0 million, up 12% and 11% quarter-over-quarter, respectively. The company reported a GAAP net loss of $14.0 million and produced $1.7 million of Total Company Adjusted EBITDA. Operating cash flow for the nine months ended September 30, 2024, was $70.4 million. Acacia repurchased 3.0 million shares for $14.0 million and acquired Deflecto for $103.7 million. Post-acquisition, cash reserves stood at approximately $280 million. Book value per share was $5.85, potentially $6.00 excluding $14.9 million in non-recurring legal expenses. The company recorded a GAAP operating loss of $10.3 million, improved from $13.2 million last year, due to higher revenues. The stock repurchase program continues, aiming to enhance shareholder returns.
Acacia Research (NASDAQ: ACTG) has scheduled the release of its third quarter 2024 financial results before market open on November 12, 2024. The company will host a conference call at 8:00 a.m. ET / 5:00 a.m. PT on the same day to discuss the results. Investors can access the live call via phone or webcast, with dial-in numbers provided for both U.S./Canada and international participants. A replay of the webcast will be available on the company's website for at least 30 days following the call.
Acacia Research (Nasdaq: ACTG) has acquired Deflecto Acquisition, Inc. for $103.7 million. Deflecto, a leading specialty manufacturer of essential products for commercial transportation, HVAC, and office markets, is expected to generate $128-$136 million in revenue in 2024. The acquisition is anticipated to be immediately accretive to Acacia's free cash flow and earnings per share.
Deflecto will continue to be led by CEO Ross Pliska and the existing management team. The company serves over 1,500 customers globally through nine manufacturing facilities across the US, Canada, UK, and China. The transaction was funded using cash on hand and borrowings under a new senior secured credit facility, with JPMorgan Chase as the lead arranger.
Acacia Research (Nasdaq: ACTG) reported robust financial results for Q2 2024.
Total revenue soared by 227% YoY to $25.8 million, driven by the acquisition of operated producing wells in the Western Anadarko Basin. Revenue for the first six months of 2024 reached $50.2 million, up 121% YoY.
However, Acacia recorded a GAAP net loss of $8.4 million for the quarter, or $0.08 per diluted share. Excluding a $0.06 per share expense related to the AIP Matter, the net loss would have been $0.02 per share.
Operating cash flow improved significantly, generating $71 million in the first half of 2024. Book value per share increased to $5.95, or $6.07 excluding the AIP Matter accrual.
Adjusted EBITDA was $4.1 million for Q2 2024. The company continues to focus on free cash flow generation and enhancing book value per share.
Acacia Research (NASDAQ: ACTG) has announced the release date for its second quarter 2024 financial results. The company will disclose its financial performance after the market closes on Thursday, August 8, 2024. A conference call is scheduled for the same day at 4:30 p.m. ET / 1:30 p.m. PT to discuss the results.
Investors and interested parties can access the live call by dialing 800-715-9871 (U.S. and Canada) or 646-307-1963 (international) and referencing the access code "Acacia Research". Additionally, a simultaneous webcast will be available on the company's website and at a specific webcast link. A replay of the webcast will be accessible on Acacia Research's website for at least 30 days following the live call.
Acacia Research reported financial results for the first quarter of 2024, highlighting a strategic partnership with Benchmark Energy in the Oil and Gas space, divestment of public life science assets, and strong capital base. The company generated $24.3 million in consolidated revenue, with a GAAP net loss of $0.2 million. Acacia's book value per share was $5.89 at March 31, 2024. The company continues to focus on reallocating capital, driving free cash flow, and evaluating M&A opportunities.
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