Acacia Research Stock Gains On Record Q4 Results, New Buyback

  • Acacia Research Corp ACTG reported fourth-quarter revenues of $63.3 million compared to $4.4 million in 4Q20.
  • The company's Intellectual Property business generated $51.3 million in licensing and other revenue versus $4.4 million last year.
  • Operating income recovered to $31.3 million from a loss of $(6.4) million a year ago.
  • EPS was $0.45 compared to $1.30 in 4Q20.
  • Realized gains totaled $63 million for the quarter versus $11.6 million a year ago.
  • ACTG held cash and equivalents of $670.7 million as of December 31, 2021.
  • The company's current book value totaled $430.5 million, or $8.80 per share, as of December 31, 2021, compared to $288.3 million, or $5.94 per share on December 31, 2020.
  • "Acacia has access to approximately $1 billion in capital available to a team experienced in complex, multi-factor transactions, unconstrained by a narrow mandate or predefined investment timelines," stated CEO Clifford Press.
  • Buyback: The company approved an additional $40 million in stock repurchases following the completion of its prior $15 million buyback program in February.
  • 1Q22 Outlook: Acacia expects total revenues of $13 million - $14 million, operating loss of $(8.2) million - $(9.2) million, and total cash and marketable securities of $538.7 million.
  • Price Action: ACTG shares are trading higher by 12.5% at $4.70 during the premarket session on Thursday.


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Posted In: EarningsNewsPenny StocksGuidanceBuybacksBriefs