Earnings Releases·Nov 5, 2026, 7:06 AM ET

Acacia Research Corporation — Third Quarter 2026 Earnings Summary

Total revenue declined 8% year-over-year to $54.4 million, driven by a drop in Intellectual Property Operations paid-up license revenue, though Energy and Industrial segments posted revenue growth while Manufacturing and IP Operations declined.
GAAP net loss widened to $5.6 million ($0.06 diluted EPS) compared to $2.7 million in the prior year, while Adjusted Net Income turned positive at $4.3 million ($0.04 diluted EPS) versus a $1.1 million loss previously; Free Cash Flow increased to $10.3 million from $7.7 million.
Management highlighted an active acquisition pipeline and flexible investment mandate, with CEO noting revenue excluding IP Operations reached a "near record" level for the third consecutive quarter.
Strategic capital actions included Benchmark Energy closing a non-recourse senior secured note financing of up to $47.5 million post-quarter end for Western Anadarko Basin development, alongside the sale of a U.K. facility for $1.6 million and $1.8 million investment in Wi-Fi 7 portfolio interests.