Acacia Research Corporation Announces Second Quarter 2024 Financial Results

authorIntellectia.AI1970-01-01
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ACTG.O
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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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