Acacia Research Corporation
acaciaresearch.comWhat Do They Do?
Acquires and operates businesses that license patented technologies to licensees, sell printers and supplies through dealers and distributors, and produce oil and natural gas for midstream buyers.
10-K for FY2025, filed Mar 12, 2026Acacia Research Corporation (the “Company,” “Acacia,” “we,” “us,” or “our”) is a disciplined value-oriented acquirer and operator of…View ↗
ARG’s revenue is recognized upon transfer of control (i.e., by the granting) of promised bundled IP Rights and other contractual…View ↗
Printronix’s net revenues were comprised of the following for the periods presented:View ↗
Benchmark’s natural gas and natural gas liquids are sold to midstream customers at the lease location, inlet of the midstream entity’s…View ↗
We invest in intellectual property (“IP”) and engage in the licensing and enforcement of patented technologies, in each case through our…View ↗
Printronix’s printers. Printronix’s products are primarily sold through channel partners, such as dealers and distributors, to end-users.View ↗
How Do They Make Money?
Acacia earns revenue from Manufacturing Operations, patent licenses, printer and supply sales and services, and oil and gas sales. Patent license fees are due after signing or at quarter-end for sales-based agreements; printer maintenance revenue runs over contract terms, and oil and gas sales are tied to delivery.
10-K for FY2025, filed Mar 12, 2026For the periods presented, revenue contracts executed by ARG primarily provided for the payment of contractually determined, one-time…View ↗
Since the promised IP Rights are not individually distinct, ARG combined each individual IP Right in the contract into a bundle of IP…View ↗
Printronix offers printer-maintenance services through service agreements that customers may purchase separately from the printer. These…View ↗
Benchmark sells oil production to customers at the wellhead or other contractually agreed upon delivery locations. Revenue is recognized…View ↗
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10-K for FY2025, filed Mar 12, 2026
FY2025 revenue by reportable segment ↗
$285.2M
-
10-K for FY2025, filed Mar 12, 2026
$285.2M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Intellectual property operations
Licensed
10-K for FY2025, filed Mar 12, 2026 |
27%
FY2022: 33%
|
Intellectual property operations, FY2025
$78.4M Sources
|
Licensed |
|
Industrial operations
Mix
10-K for FY2025, filed Mar 12, 2026 |
9.9%
FY2022: 67%
|
Industrial operations, FY2025
$28.3M Sources
|
Mix |
|
Energy operations
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
22% |
Energy operations, FY2025
$63.8M Sources
|
Sold outright |
|
Manufacturing Operations
|
40% |
Manufacturing Operations, FY2025
$114.8M Sources
|
Who Are Their Customers?
Patent licensees obtain rights to use patented technologies; printer products reach end users mainly through dealers and distributors. Benchmark sells oil and gas to midstream buyers or at other agreed delivery points.
10-K for FY2025, filed Mar 12, 2026ARG’s revenue is recognized upon transfer of control (i.e., by the granting) of promised bundled IP Rights and other contractual…View ↗
Benchmark’s natural gas and natural gas liquids are sold to midstream customers at the lease location, inlet of the midstream entity’s…View ↗
Printronix’s printers. Printronix’s products are primarily sold through channel partners, such as dealers and distributors, to end-users.View ↗
Do Revenues Turn Into Profits?
Yes. It kept 8 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Mar 12, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
$47KView ↗
- ▲ Now profitable
- vs −$3.3M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
Growing. Revenue grew 23.8x in 4 years, from $12M in FY2021 to $285.2M in FY2025, about 121% a year.
Added energy operations
The older report described patent licensing, industrial printers and a Life Sciences Portfolio; the latest report also describes Benchmark selling oil and natural gas.
10-K for FY2022, filed Mar 17, 2023 10-K for FY2025, filed Mar 12, 2026Currently, we are a principal in the licensing and enforcement of patent portfolios, with our operating subsidiaries obtaining the rights…View ↗
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