Acacia Research Corp. ( (ACTG) ) has released its Q3 earnings. Here is a breakdown of the information Acacia Research Corp. presented to its investors.
Acacia Research Corporation is a publicly traded company that acquires and operates businesses across the industrial, energy, and technology sectors, focusing on value creation through its core verticals. In its third quarter of 2024, Acacia reported significant financial growth with a consolidated revenue of $23.3 million, a staggering 131% increase compared to the same quarter last year. Despite this revenue growth, the company recorded a GAAP net loss of $14.0 million for the quarter.
The main highlights include the energy operations generating $15.8 million in revenue, while industrial operations contributed $7.0 million. Acacia also reported generating $70.4 million in operating cash flow over the nine months ending September 30, 2024. The company continued its strategic efforts by acquiring Deflecto Acquisition, Inc., a specialty manufacturer, for $103.7 million, aiming to enhance product and operational optimization.
Acacia’s strategic financial maneuvers included the repurchase of 3 million shares for $14 million as part of its long-term strategy to increase shareholder returns. The company’s cash reserves stood at approximately $280 million post the Deflecto acquisition, indicating a strong financial position for potential future transactions.
Looking ahead, Acacia’s management remains focused on leveraging its capital and industry expertise to drive further value creation. The company anticipates integrating Deflecto’s operations to capitalize on market opportunities and enhance its portfolio of strategic assets.
