Acacia Research stock rises on Q4 results

Mar. 31, 2022 11:44 AM ETAcacia Research Corporation (ACTG)By: Preeti Singh, SA News Editor

Rolled newspaper with the headline Quarterly Results

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  • Acacia Research (ACTG +6.6%) shares have popped after the company reported increased revenue and net income for Q421 and announced a new $40M share buyback program.
  • Total revenues grew from $4.4M in the prior year quarter to $63.3M, with newly acquired Printronix business contributing $12M in revenue. The IP business generated $51.3M in licensing and other revenue.
  • GAAP net income for the quarter was $204.7M, or $0.45 per diluted share, up from $78.4M, or $1.30 per diluted share in Q420.
  • Net income included $63M in realized gains primarily related to the life science portfolio, partially offset by $28M in unrealized losses, primarily related to the reversal of unrealized gains previously recorded for shares sold or gains realized.
  • Acacia ended the year with $670.7M in cash, cash equivalents and equity investments (vs. $274.6M at Dec. 31, 2020) and total indebtedness of $181.2M.
  • In addition, the firm reported prelim Q122 results, expecting total revenues in the range of $13M to $14M and operating loss of $8.2 to $9.2M (owing to increased general and administrative expenses).

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