ACACIA RESEARCH CORP
ACTG · Patent Owners & Lessors · 96.6M shares · +15%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $15M (gross $20M, SBC $5M)
Reference price $3.27 · est. market cap ~$315M — last insider purchase, 2025-08-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C64Acacia Research — IP-licensing and acquisitions holding company, lumpy results.
Strengths
- Very strong liquidity (current 9.2), cash 80th pct
- Revenue +133% on deal/licensing activity
Risks
- Net income down sharply (9th pct); lumpy, episodic earnings
- Capital-allocation/execution dependence
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Chronic dilutionShare count +15%/yr over 4y (dilution, book value/share -25%)
- Strong balance sheetStrong balance sheet — $307M cash & investments
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
29.6%
Operating margin
2.2%
Net margin
7.6%
Return on equity
4.0%
Return on assets
2.8%
ROIC
0.8%
Revenue growth (QoQ)
8.2%
Debt / equity
0.2×
Net debt / EBITDA
-4.3×
Current ratio
9.2×
EBITDA
$50M
Tangible book value
$470M
Cash & investments
$307M
Stock comp / revenue
2.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-23 | Kohlberg Isaac T. | Grant | 25K | — |
| 2026-06-23 | FELMAN MICHELLE | Grant | 25K | — |
| 2026-06-23 | OCONNELL MAUREEN | Grant | 25K | — |
| 2026-06-23 | Sundar Ajay | Grant | 4.2K | $4.79 |
| 2026-06-23 | Molinelli Gavin | Grant | 25K | — |
| 2026-06-08 | McNulty Martin D. Jr. | Tax withheld | 287K | $4.62 |
| 2026-06-08 | Rasamny Robert | Tax withheld | 28K | $4.62 |
| 2026-06-08 | Soncini Jason W. | Tax withheld | 49K | $4.62 |
| 2026-06-05 | Rasamny Robert | Grant | 60K | — |
| 2026-06-05 | McNulty Martin D. Jr. | Grant | 539K | — |
| 2026-06-05 | Soncini Jason W. | Grant | 93K | — |
| 2026-03-31 | Sundar Ajay | Grant | 4.2K | $4.81 |
| 2026-03-31 | Molinelli Gavin | Grant | 6.2K | $4.81 |
| 2026-03-23 | Soncini Jason W. | Tax withheld | 6.1K | $4.85 |
| 2026-03-10 | McNulty Martin D. Jr. | Tax withheld | 8.2K | $4.15 |
| 2025-12-31 | Sundar Ajay | Grant | 5.3K | $3.74 |
| 2025-12-31 | Molinelli Gavin | Grant | 8.0K | $3.74 |
| 2025-09-30 | Sundar Ajay | Grant | 6.2K | $3.25 |
| 2025-09-30 | Molinelli Gavin | Grant | 9.2K | $3.25 |
| 2025-08-11 | Zambito Michael SIKORYAK | Buy | 7.7K | $3.27 |
| 2025-08-11 | FELMAN MICHELLE | Gift | 12K | — |
| 2025-08-11 | FELMAN MICHELLE | Gift | 12K | — |
| 2025-06-30 | Sundar Ajay | Grant | 5.6K | $3.58 |
| 2025-06-30 | Molinelli Gavin | Grant | 8.4K | $3.58 |
| 2025-06-11 | Kohlberg Isaac T. | Sell | 16K | $3.84 |
| 2025-06-09 | Hoover Kirsten | Tax withheld | 6.5K | $3.83 |
| 2025-06-09 | Rasamny Robert | Tax withheld | 6.7K | $3.83 |
| 2025-06-09 | Soncini Jason W. | Tax withheld | 11K | $3.83 |
| 2025-06-09 | McNulty Martin D. Jr. | Tax withheld | 11K | $3.83 |
| 2025-05-30 | Kohlberg Isaac T. | Grant | 32K | — |
| 2025-05-30 | RIBAR GEOFFREY G | Grant | 32K | — |
| 2025-05-30 | FELMAN MICHELLE | Grant | 32K | — |
| 2025-05-30 | OCONNELL MAUREEN | Grant | 32K | — |
| 2025-05-30 | Sundar Ajay | Grant | 32K | — |
| 2025-05-30 | Molinelli Gavin | Grant | 32K | — |
| 2025-05-21 | Soncini Jason W. | Buy | 7.0K | $3.79 |
| 2025-05-19 | McNulty Martin D. Jr. | Buy | 5.3K | $3.77 |
| 2025-05-16 | Starboard Principal Co LP | Other | 3.3M | $3.71 |
| 2025-05-16 | Starboard Principal Co LP | Other | 290K | $3.71 |
| 2025-05-16 | Starboard Principal Co LP | Other | 290K | $3.71 |
| 2025-05-16 | Starboard Principal Co LP | Other | 3.3M | $3.71 |
| 2025-05-16 | Starboard Value LP | Other | 290K | $3.71 |
| 2025-05-16 | Starboard Value LP | Other | 3.3M | $3.71 |
| 2025-05-16 | Starboard Value LP | Other | 290K | $3.71 |
| 2025-05-16 | Starboard Value LP | Other | 3.3M | $3.71 |
| 2025-05-14 | Sundar Ajay | Grant | 11K | $3.73 |
| 2025-05-14 | Molinelli Gavin | Grant | 16K | $3.73 |
| 2025-03-21 | Hoover Kirsten | Tax withheld | 3.5K | $3.42 |
| 2025-03-21 | Soncini Jason W. | Tax withheld | 6.1K | $3.42 |
| 2025-03-10 | McNulty Martin D. Jr. | Tax withheld | 7.8K | $4.19 |
| 2025-03-10 | Soncini Jason W. | Tax withheld | 6.8K | $4.19 |
| 2025-03-10 | Hoover Kirsten | Tax withheld | 4.1K | $4.19 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
- Cawley, Gillespie & Associates, Inc.
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-25 | 2026-06-23 | 0000934549-26-000029 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0000934549-26-000025 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0000934549-26-000020 ↗ |
| 10-K | 2026-03-12 | 2025-12-31 | 0000934549-26-000010 ↗ |
| 8-K | 2026-03-11 | 2026-03-11 | 0000934549-26-000007 ↗ |
| 8-K | 2026-02-06 | 2026-02-02 | 0000934549-26-000004 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0000934549-25-000054 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0000934549-25-000051 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0000934549-25-000042 ↗ |
| 8-K | 2025-08-06 | 2025-08-06 | 0000934549-25-000039 ↗ |
| 8-K | 2025-06-24 | 2025-06-24 | 0000934549-25-000034 ↗ |
| 8-K | 2025-06-11 | 2025-06-10 | 0000934549-25-000029 ↗ |