ACTGACACIA RESEARCH CORP
Patent Owners & Lessors
- Revenue
- $285M
- 133% YoY
- Operating margin
- 2.2%
- 108% YoY
- EBITDA
- $50M
- 7579% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -4.4×
- −$217M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear307% of net incomeCash flow under 80% of net income
- Dilutive SBCClear2% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear3% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $88M | $59M | $125M | $122M | $285M | 133% |
| Operating income | $15M | −$40M | $21M | −$33M | $6M | 119% |
| Net income | $149M | −$125M | $69M | −$35M | $24M | 171% |
| Operating cash flow | $13M | −$37M | −$23M | $50M | $75M | 50% |
| Capex | $91K | $732K | $189K | $149M | — | |
| Stock-based comp | $2M | $4M | $3M | $5M | $6M | 20% |
| Buybacks | $4M | $51M | $0 | $20M | $0 | 100% |
| Dividends | $1M | $3M | $1M | $0 | — |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $261K · 3
- Net
- −$261K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 89 | — |
| FY2024 | — | — | 103 | — |
| FY2023 | — | — | 93 | — |