NASDAQ$ACTG

Acacia Research Corporation · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Acacia Research reported a milestone quarter highlighted by the IPO of Oxford Nanopore Technologies Limited, resulting in substantial realized and unrealized gains.

Acacia Research reported a significant quarter with $101 million in realized and unrealized gains from its life sciences portfolio, driven by the Oxford Nanopore IPO. The company's pro forma book value increased to $6.31 per share. Additionally, Acacia completed its first operating company acquisition, Printronix.

  • Recognized $101 million in realized and unrealized gains from the life sciences portfolio.
  • Pro forma book value at September 30, 2021 increased to $6.31 per share.
  • Completed the acquisition of Printronix.
  • Recovered $256 million of the aggregate portfolio purchase price of $282 million from the life sciences portfolio.

Headline financials

Total Revenue

$1.58M

Previous: $19.5M-91.9%
EPS (adj)

$0.86

Previous: -$0.12+816.7%
Capital Expenditures

-$67K

Previous: -$177K+62.1%
Free Cash Flow

$89.5M

Previous: $38.2M+134.6%
Net Income

$89.6M

Previous: $38.3M+133.7%
Operating Income

-$12.7M

Previous: -$2.78M-357.3%
Gross Profit

-$2.38M

Previous: $4.91M-148.4%
Cash & Equivalents

$218M

Previous: $163M+34.1%
Total Assets

$750M

Previous: $427M+75.8%
Stock-Based Comp

$300K

Previous: $488K-38.5%

Revenue & EPS history

Acacia · Revenue · Quarterly

$1.58M

Q3 2021-91.9%vs Q3 2020
Beat estimate in 9 of 12 quarters(75%)
ActualEstimate

Revenue by segment

Acacia · $10.1M total across 2 segments · Q3 2023

  • Industrial Operations
    $8.32M-12.9%
  • Intellectual Property Operations
    $1.76M-72.2%

Forward guidance

Acacia is positioned as a corporate acquirer with the flexibility, capability and expertise to pursue multiple public and private opportunities.

Tailwinds

  • Expanded team.
  • Bolstered capital base.
  • Positioned as a corporate acquirer.
  • Flexibility to pursue multiple opportunities.
  • Healthy pipeline of potential attractive operating company investments.

Headwinds

  • Strategic plan implementation risks.
  • Risks in identifying and completing acquisitions.
  • Changes in demand for intellectual property rights.
  • Legislative, regulatory, and competitive developments.
  • General economic conditions, including the impact of the COVID-19 pandemic.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

-1.1%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+2.8%

Avg return

30 days after

42%

27 / 65 earnings

Positive

+20.7%

Q4 2025

Best reaction

-27.2%

Q1 2013

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-7.3%-7.5%-8.9%
Q4 2025+20.7%+18.8%+18.1%
Q3 2025+9.4%+11.3%+12.8%
Q1 2025+15.7%+26.4%+24.8%
Q4 2024-14.5%-18.5%-31.0%
Q3 2024-8.9%-6.3%-4.9%
Q2 2024-4.8%-6.9%-2.5%
Q1 2024-1.9%+2.1%+0.2%
Q4 2023+16.3%+26.3%+25.5%
Q3 2023+1.7%+3.0%+6.1%
Q2 2023-7.2%-3.2%-5.5%
Q1 2023-1.2%+0.8%+14.5%
Q4 2022-7.5%-5.9%-16.7%
Q3 2022+2.0%+0.0%-5.3%
Q2 2022-3.0%-6.0%-16.1%
Q1 2022-3.9%-1.3%-0.9%
Q4 2021+12.3%+8.4%+12.2%
Q3 2021+5.3%-3.1%-10.2%
Q2 2021-4.9%-4.3%+9.7%
Q1 2021-5.1%+0.5%+12.6%
Q4 2020+0.7%+5.3%+0.8%
Q3 2020+1.4%-2.5%+0.0%
Q2 2020-1.0%-3.4%-7.7%
Q1 2020-0.2%-8.6%+62.9%
Q4 2019+3.6%-0.5%+14.0%
Q3 2019+14.2%+13.0%+13.8%
Q2 2019-3.6%-4.9%-14.4%
Q1 2019+1.0%+1.0%-0.6%
Q4 2018-3.2%-1.9%-1.0%
Q3 2018+2.7%+1.3%+3.7%
Q2 2018+2.6%+2.6%-7.9%
Q1 2018+1.4%+1.4%+5.5%
Q4 2017-1.4%-1.4%+2.8%
Q3 2017+6.1%+9.8%+4.9%
Q2 2017-10.0%-15.0%-17.5%
Q1 2017-4.9%-3.9%-22.5%
Q4 2016-9.6%-11.3%-3.5%
Q3 2016+1.7%-2.5%+24.4%
Q2 2016+7.6%+17.5%+16.7%
Q1 2016+4.1%
Q4 2015-21.8%
Q3 2015-14.4%
Q2 2015+9.1%
Q1 2015+12.9%
Q4 2014-3.6%
Q3 2014+1.2%
Q2 2014+16.8%
Q1 2014-0.2%
Q4 2013-6.1%
Q3 2013-25.3%
Q2 2013-12.4%
Q1 2013-27.2%
Q4 2012+3.8%
Q3 2012-0.2%
Q2 2012+1.1%
Q1 2012+2.3%
Q1 2010-2.9%
Q1 2011-2.9%
Q4 2011-2.9%
Q4 2009-2.9%
Q3 2011-6.9%
Q3 2010-6.9%
Q2 2011-1.8%
Q2 2010-1.8%
Q4 2010-1.8%

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