Acacia Research Q2 revenue jumps on IP licensing gains
ACTG•Outlook
The company did not provide specific guidance for the current quarter or full year.
Revenue drivers
The company said higher paid-up license revenue from its Intellectual Property Operations segment was the primary driver of revenue growth.
Benchmark Energy recorded its strongest revenue quarter under Acacia ownership.
Quarterly results
Acacia Research reported second-quarter revenue up 124% year over year, driven by IP licensing gains.
Adjusted net income and adjusted EPS turned positive from losses a year ago.
The company ended the second quarter with $334.6 million in cash and no parent-company debt.
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | $114.56 mln | ||
| Q2 Adjusted EPS | $0.13 | ||
| Q2 Net Income | $47,000 | ||
| Q2 Operating Income | $8.52 mln |
The one available analyst rating on the shares is "buy".
