Acacia Research
Acquires and operates IP, energy, industrial printing, and manufacturing businesses under Starboard-backed ownership.
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Profile
Acquires and operates a portfolio spanning patent licensing, Benchmark Energy, Printronix industrial printing, and Deflecto manufacturing. Revenue is spread across four segments, with IP licensing episodic and operating businesses tied to energy production, industrial printing demand, specialty manufacturing, and Starboard-backed acquisition execution.
Acquires and operates businesses across public and private markets rather than selling a single product line. The portfolio is reported through Intellectual Property Operations, Industrial Operations, Energy Operations, and Manufacturing Operations, with current operating companies including Acacia Research Group, Benchmark Energy, Printronix, and Deflecto.
Owns or controls patent portfolios through Acacia Research Group, sells industrial printers, consumables, parts, and services through Printronix, participates in oil and gas production through Benchmark assets in Texas and Oklahoma, and manufactures air distribution, transportation safety, and office products through Deflecto.
Execution depends on acquisition sourcing, integration, operating improvement, and support from Starboard, the controlling shareholder. The operating base is concentrated in the United States, and segment results are shaped by episodic IP licensing, oil and gas conditions, printing and consumables demand, manufacturing supply chains, and patent licensing and enforcement activity.
Company facts
Categories
Key statistics
Year to date +19.7% · Average volume (30d) 238.7K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.09 | $0.13 | +244.4% | $49.5M | $114.6M | +131.4% | −1.52% |
| May 7, 2026Q1 FY26 | −$0.09 | −$0.07 | +22.2% | $50.0M | $54.2M | +8.5% | −1.06% |
| Mar 11, 2026Q4 FY25 | −$0.14 | $0.03 | +121.4% | $38.0M | $50.1M | +31.9% | −2.60% |
| Nov 5, 2025Q3 FY25 | −$0.14 | −$0.01 | +92.9% | $38.0M | $59.4M | +56.4% | −1.10% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $124.4M | $51.2M | $59.4M | $50.1M | $54.2M | $114.6M | |
| Gross profit | $58.9M | $82.3M | $51.1M | $27.5M | $49.4M | $42.3M | |
| Operating income | $38.3M | −$12.4M | −$6.4M | −$13.1M | −$8.4M | $8.5M | |
| Net income | $24.3M | −$3.3M | −$2.7M | $3.4M | −$15.7M | $47.0K | |
| Diluted EPS | $0.25 | −$0.03 | −$0.03 | $0.04 | −$0.16 | −$0.11 | |
| Gross margin | 47.4% | 160.5% | 86.0% | 54.8% | 91.1% | 37.0% | |
| Operating margin | 30.8% | -24.2% | -10.8% | -26.1% | -15.4% | 7.4% |
Fiscal years (4-quarter sums)FY21 $88.0M · FY22 $59.2M · FY23 $125.1M · FY24 $122.3M · FY25 $285.2M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $332.6M · Total debt $102.0M · Total assets $791.5M · Shareholders' equity $526.8M
Dividends
No dividends on record.
Ownership
Shares outstanding 96.59M · Float 94.93M · 98.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Starboard Value LP | 61.12M | 63.28% | 13F | May 15, 2026 |
| State Street Corp | 3.11M | 3.21% | 13F | May 15, 2026 |
| Dimensional Fund Advisors LP | 2.85M | 2.95% | 13F | May 7, 2026 |
| BlackRock, Inc. | 2.41M | 2.49% | 13F | May 13, 2026 |
| Vanguard Capital Management LLC | 1.60M | 1.65% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 19, 2026 | Maureen Oconnell | director | −10,000 | $4.60 |
| Aug 12, 2026 | Isaac T. Kohlberg | director | −32,188 | $4.67 |
Peers
- CSW Industrials
HVAC/R and air-distribution peer for Deflecto's largest line
- InterDigital
Patent-licensing peer with larger wireless and video portfolios
- Mach Natural Resources
Regional upstream oil-and-gas operator in Anadarko and nearby basins
- Zebra Technologies
Industrial printing scale leader across printers, RFID and supplies
- ACCO
Office-products peer overlapping Deflecto's workplace product line
- 3M
Transportation-safety and reflective-materials peer for Deflecto
- Compass Diversified
Public holding-company peer competing for middle-market acquisitions
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Acacia Research | $4.50 | +0.56% | $431.8M | — | — | 1.6 | +123.6% |
| CSW Industrials | $318.50 | +0.03% | $5.19B | 43.6 | 24.9 | 4.4 | +33.0% |
| InterDigital | $335.00 | −0.04% | $8.65B | 38.7 | 45.2 | 11.0 | −13.5% |
| Mach Natural Resources | $12.58 | +0.60% | $2.09B | 22.3 | 9.2 | 1.4 | +40.7% |
| Zebra Technologies | $356.45 | +0.03% | $16.98B | 33.5 | 17.2 | 2.9 | +20.4% |
| ACCO | $4.29 | 0.00% | $395.8M | 6.9 | 4.9 | 0.3 | +5.1% |
| 3M | $174.82 | +0.27% | $89.91B | 31.0 | 18.8 | 3.6 | +2.5% |
| Compass Diversified | $11.45 | 0.00% | $861.5M | — | 19.6 | 0.5 | — |
| Median | 32.2 | 18.8 | 2.9 | +12.8% |