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Acacia Research (ACTG) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Acacia Research (ACTG) Q3 2026 earnings results →
Q3 2026 Revenue down 8% year over year to $54.4M · 11¢ of every $1 of revenue lost · operating margin -6.6%
Acacia Research made $54.4M in Q3 2026 (-8% Y/Y): Transportation safety $11.3M, Oil sales $10.0M, Air distribution $8.2M. Operating margin -6.6%, net loss $5.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $54.4M in Q3 2026, down 8% year over year and down 52% from the previous quarter. Transportation safety was the largest line at 21% of revenue. Intellectual property operations lost $7.5M year over year (down 97%), 151% of the total change.
Gross margin was 26.4%, up 5.2 points from Q3 2025. Operating costs exceeded revenue by $3.6M, an operating margin of -6.6%. Operating expenses fell 6% while revenue fell 8%. The quarter ended with a net loss of $5.9M, narrower than the previous quarter's $8.4M loss. Minority interests bore $351K of it: to shareholders the quarter was a loss of $5.6M. Net interest and other expense of $3.5M was the main reason.
Operating cash flow was $15.0M (up 57% year over year). Non-cash charges added back $6.5M of depreciation and amortization and $151K of share-based compensation. Working capital and other items added $14.2M. Capital expenditures of $4.5M left free cash flow of $10.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $54.4M | -8% | -6.6% | −$5.9M | $15.0M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $115M | +124% | 7.4% | −$8.4M | $3.9M |
| Q1 2026 | 10-Q | May 7, 2026 | $54.2M | -56% | -15.4% | −$17.6M | $3.4M |
| Q4 2025 | 10-K | Mar 12, 2026 | $50.1M | +3% | -26.1% | $4.8M | $13.2M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $59.4M | +155% | -10.8% | −$2.4M | $9.5M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $51.2M | +98% | -24.2% | −$1.4M | $50.1M |
| Q1 2025 | 10-Q | May 9, 2025 | $124M | +412% | 30.8% | $24.3M | $2.4M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Acacia Research
Acacia Research Corporation (the “Company,” “Acacia,” “we,” “us,” or “our”) is a disciplined value-oriented acquirer and operator of businesses across public and private markets and industries including but not limited to the industrial, energy and technology sectors. We acquire businesses with a view towards strong free cash flow generation and with an ability to scale where we can tap into our deep industry relationships, significant capital base, and transaction expertise to materially improve performance. We are focused on sourcing, execution, and improvement. We find unique situations, bring a flexible and creative approach to transacting, combining relationships and expertise to drive continual improvement in operating performance. We approach transactions as business owners and operators, rather than purely as financial investors.
In its own words, from its 10-K, filed Mar 12, 2026.
Acacia Research against its Patent Owners & Lessors peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -8% against the peers' median +1%. Operating margin: -6.6% against the peers' median -4.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ACTG Acacia Research | Q3 2026 | $54.4M | -8% | -6.6% |
| DLB Dolby Laboratories | Q3 FY26 | $305M | -3% | 11.3% |
| IDCC InterDigital | Q3 2026 | $193M | +18% | 51.4% |
| APPS Digital Turbine | Q1 FY27 | $166M | +27% | 13.9% |
| JYNT Joint | Q3 2026 | $13.6M | +1% | 9.8% |
| RMCO Royalty Management Holding | Q2 2026 | $1.8M | +38% | -4.9% |
| AERA AI Era | Q3 FY26 | $1.5M | -19% | -85.2% |
| XELB XCel Brands | Q2 2026 | $1.1M | -15% | -141.4% |
| NTIP NETWORK-1 Technologies | Q1 2025 | $150K | — | -430.0% |
Source: Acacia Research 10-Q on SEC EDGAR · CIK 934549 · Patent Owners & Lessors
Guidance and outlook
13F: who owns ACTG and who is buying
More on ACTG
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results