Filing Flows › Acacia Research (ACTG) › Q4 2025
Acacia Research (ACTG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 12, 2026
Acacia Research (ACTG) reported revenue of $50.1M for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and -16% from the quarter before. Operating margin was -26.1%, net earnings $4.8M (9.5% of revenue).
Acacia Research, Q4 2025: revenue $50.1M (+3% year over year), operating margin -26.1%, net earnings $4.8M, operating cash flow $13.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $50.1M | -16% | +3% |
| Operating profit | −$13.1M | — | — |
| Net earnings | $4.8M | — | — |
| Operating cash flow | $13.2M | +38% | — |
| Free cash flow | $7.9M | +101% | — |
What changed
Revenue was $50.1M in Q4 2025, up 3% year over year and down 16% from the previous quarter. Office products was the largest line at 17% of revenue.
Gross margin was 12.8%, down 4.8 points from a year earlier. Operating costs exceeded revenue by $13.1M, an operating margin of -26.1%. Operating expenses fell 20% while revenue rose 3%. The fastest-growing cost line was Sales & marketing (+10%). Net earnings were $3.4M. The effective tax rate was 19.8%. Non-operating items added $19.0M, 320% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $13.2M, 276% of net income including minority interests. Non-cash charges added back $10.5M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items used $4.1M. Capital expenditures of $5.2M left free cash flow of $7.9M.
Questions
What was Acacia Research's revenue in the fourth quarter 2025?
Acacia Research (ACTG) reported revenue of $50.1M for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and -16% from the quarter before.
Was Acacia Research profitable in the fourth quarter 2025?
Operating loss was $13.1M (-26.1% of revenue) and net earnings $4.8M.
Source: Acacia Research 10-K on SEC EDGAR.