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Sep 30, 2023
Acacia Q3 2023 Earnings Report
Reported financial results for Q3 2023.
Key Takeaways
Acacia Research Corporation reported consolidated revenue of $10.1 million for the quarter, a decrease compared to $15.9 million in the third quarter of 2022. The company recorded $12.2 million of net realized and unrealized gains during the quarter and a GAAP net income of $1.6 million, or a net loss of $0.03 per diluted share.
Consolidated revenue for the quarter was $10.1 million, compared to $15.9 million in the third quarter of 2022.
Net realized and unrealized gains of $12.2 million were recorded during the quarter.
A wholly owned subsidiary entered into an agreement to sell its shares of Arix Bioscience PLC for $57.1 million, expected to be completed in Q1 2024.
Acquired a majority stake in Benchmark Energy II LLC, an independent oil and gas company.
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
- Acacia's value-creation strategy has accelerated.
- Established a platform to acquire producing, cash generating oil and gas assets.
- Reached an agreement to sell stake in the last public holding in their life science portfolio.
- Acacia and new partners are already evaluating potential asset acquisitions.
- The company is methodically advancing specific opportunities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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