Acacia Research Corporation Announces Second Quarter 2024 Financial Results
Intellectia.AI1970-01-01
Acacia Research Corporation Announces Second Quarter 2024 Financial Results
Acacia Research Corporation (ACTG) has reported its financial results for the second quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q1 2024 | Q2 2023 | YoY % Change | QoQ % Change | Consensus Estimate |
|---|---|---|---|---|---|---|
| Total Revenue | $25.8M | $24.4M | $7.9M | +226.58% | +5.74% | $19.75M |
| Earnings Per Share (EPS) | ($0.16) | ($0.28) | ($0.17) | +5.88% | +42.86% | $0.08 |
Interpretation: Acacia’s total revenue for Q2 2024 surged by 226.58% year-over-year and increased by 5.74% quarter-over-quarter, surpassing the consensus estimate of $19.75 million. The company's EPS improved by 5.88% YoY and 42.86% QoQ, although it still reported a loss, falling short of the projected EPS of $0.08.
Revenue Breakdown by Segment
| Segment | Q2 2024 | Q1 2024 | Q2 2023 |
|---|---|---|---|
| Intellectual Property Ops | $6.9M | $7.5M | $2.0M |
| Industrial Operations | $4.7M | $5.0M | $5.9M |
| Energy Operations | $14.2M | $11.9M | N/A |
Interpretation: Revenue from Intellectual Property Operations increased significantly year-over-year but saw a slight decrease from Q1 2024. Industrial Operations revenue declined both year-over-year and quarter-over-quarter, reflecting lower printer sales. Energy Operations contributed substantial revenue as a new segment, highlighting the impact of recent acquisitions.
Stock Price Movement
Following the earnings release, Acacia Research Corporation’s stock price increased by approximately 2.29%.
This summary article aims to encapsulate Acacia Research Corporation’s financial performance for Q2 2024 based on the provided earnings report, ensuring data accuracy and clarity.
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