{"id":825293,"date":"2025-03-13T07:33:11","date_gmt":"2025-03-13T11:33:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/acacia-research-corporation-reports-fourth-quarter-and-year-end-2024-financial-results\/"},"modified":"2025-03-13T07:33:11","modified_gmt":"2025-03-13T11:33:11","slug":"acacia-research-corporation-reports-fourth-quarter-and-year-end-2024-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/acacia-research-corporation-reports-fourth-quarter-and-year-end-2024-financial-results\/","title":{"rendered":"Acacia Research Corporation Reports Fourth Quarter and Year End 2024 Financial Results"},"content":{"rendered":"

<\/p>\n

Acacia Research Corporation Reports Fourth Quarter and Year End 2024 Financial Results<\/b><\/p>\n

Consolidated Revenue of $48.8 Million for the Quarter, and $122.3 Million for the Year<\/i><\/p>\n

GAAP Net Income (Loss) of $(13.4) Million for the Quarter, and $(36.1) Million for the Year
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<\/i>GAAP Diluted EPS of $(0.14) for the Quarter, and $(0.36) for the Year<\/i><\/p>\n

Adjusted Net Income (Loss)1<\/sup> of $(6.8) Million for the Quarter, and $14.2 Million for the Year
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<\/i>Adjusted Diluted EPS1<\/sup> of $(0.07) for the Quarter, and $0.14 for the Year<\/i><\/p>\n

Total Company Adjusted EBITDA1<\/sup> of $4.9 Million for the Quarter, and $17.0 Million for the Year
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<\/i>Operated Segment Adjusted EBITDA1<\/sup> of $9.6 Million for the Quarter, and $35.7 Million for the Year<\/i><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nAcacia Research Corporation (Nasdaq: ACTG<\/a>) (\u201cAcacia<\/b>\u201d or the \u201cCompany<\/b>\u201d), which acquires and operates businesses across the industrial, energy, and technology sectors, today reported financial results for the three months and full year ended December 31, 2024. The Company also posted its fourth quarter 2024 earnings presentation on its website at www.acaciaresearch.com<\/a> under Events & Presentations.\n<\/p>\n

\nMartin (\u201cMJ\u201d) D. McNulty, Jr., Chief Executive Officer, stated, \u201c2024 was a transformational year for Acacia. We continued executing our strategy of acquiring and building businesses with stable cash flow generation and scalability, specifically with two opportunistic acquisitions that we believe present attractive risk-adjusted return characteristics and that should create value for shareholders. We accomplished this while continuing to enhance our existing businesses and investments, and with a close eye on capital allocation.\n<\/p>\n

\nIn April, our majority-owned oil and gas subsidiary, Benchmark, completed the acquisition of the upstream production Revolution assets in Texas and Oklahoma. These assets present the attractive characteristics we look for in oil and gas acquisitions, including shallow decline, long-life production profiles, a balanced hydrocarbon stream, rich in valuable natural gas liquids, and an opportunity to operationally improve production. Since closing the acquisition, the Benchmark team has fully integrated the acquired assets and has completed over 40 capital workover projects which have replenished our reserve base in an amount offsetting our production since we acquired the assets. Benchmark also established a robust, internally managed energy services business to more efficiently and cost-effectively service its assets and those of our working interest partners. The team is actively working to enhance the value of our assets, including those already producing oil and gas as well as upside potential in the Cherokee play and the Cleveland formation, which came with our most recent acquisition.\n<\/p>\n

\nIn October, we announced the acquisition of Deflecto, a leading specialty manufacturer of essential products serving the commercial transportation, HVAC and office markets. We have been working closely with the Deflecto management team and our Operating Partner, Clay Kiefaber, to integrate the business and implement our initial 100-day plan. We are enthusiastic about the optionality within this platform, including opportunities to accelerate organic growth, margin improvement, working capital efficiency, and strategic M&A.\n<\/p>\n

\nSince closing these two acquisitions, we have been diligently and methodically integrating the businesses into our portfolio, driving operational improvements, capturing synergies, and successfully managing our rapidly growing enterprise. We\u2019re beginning to benefit from the positive impact of these two acquisitions and our long-term strategy in our fourth quarter and full-year results.\n<\/p>\n

\nFollowing the completion of the Benchmark and Deflecto acquisitions, we have a healthy cash balance of $273.9 million at year end for future transactions. Finally, as part of our strategy to deploy excess cash to shareholders, and increase total shareholder returns over time while protecting our valuable tax attributes, we repurchased $20.0 million in Acacia shares during the year, the maximum authorized under our stock repurchase program.\u201d\n<\/p>\n

Key Highlights<\/b><\/p>\n