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Mar 31, 2024
Acacia Q1 2024 Earnings Report
Reported financial results for Q1 2024 and continued to advance capital allocation strategy.
Key Takeaways
Acacia Research reported consolidated revenue of $24.3 million for the quarter, compared to $14.8 million in the first quarter of 2023. The company had a GAAP net loss of $0.2 million, or $0.00 per share. They also completed the sale of Acacia’s shares of Arix Bioscience Plc for a cash purchase price of $57.1 million.
Book value per share at March 31, 2024 was $5.89.
Generated $24.3 million in consolidated revenue for the quarter compared to $14.8 million in revenue in the first quarter of 2023, including $13.6 million in license fee revenue from the Company’s intellectual property operations.
GAAP net loss of $0.2 million, or $0.00 per share, for the quarter.
Completed the sale of Acacia’s shares of Arix Bioscience Plc for a cash purchase price of $57.1 million.
Revenue by Segment
Forward Guidance
Acacia is focused on acquiring and operating attractive businesses across the industrial, healthcare, energy, and mature technology sectors.
Positive Outlook
- Diversified portfolio with strategic partnership with Benchmark Energy.
- Expanded capital base through the divestment of all public life science assets.
- Strong capital base, including approximately $400 million in cash and marketable securities.
- Well positioned to execute on priorities with an overarching goal of increasing book value per share.
- Completed the sale of Acacia’s shares of Arix Bioscience Plc for a cash purchase price of $57.1 million.
Challenges Ahead
- GAAP net loss of $0.2 million, or $0.00 per share, for the quarter.
- Operating loss of $2.1 million.
- Accrued for a potential legal liability of $6.2 million in connection with an ongoing matter involving former executives.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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