Company: ACTG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000934549-25-000021
Chunk: 165

Company: ACACIA RESEARCH CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 165
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 pushed into subsequent annual periods.

Industrial Operations

Refer to “Industrial Operations Business” above for information related to Printronix’s operating activities.

Energy Operations

Refer to “Energy Operations Business” above for information related to Benchmark’s operating activities.

Manufacturing Operations

Refer to “Manufacturing Operations Business” above for information related to Deflecto’s operating activities.

In addition to the following results of operations discussion, more information related to our Intellectual Property Operations, Industrial Operations, Energy Operations and Manufacturing Operations segment revenues may be found in Notes 2 and 19 to the condensed consolidated financial statements.

48

Results of Operations

Summary of Results of Operations

Three Months EndedMarch 31,20252024$ Change% Change(In thousands, except percentage change values)Total revenues$124,422 $24,320 $100,102 412 %Total costs and expenses86,117 26,407 59,710 226 %Operating income (loss)38,305 (2,087)40,392 (1,935 %)Total other (expense) income(8,696)789 (9,485)(1,202 %)Income (loss) before income taxes29,609 (1,298)30,907 (2,381 %)Income tax (expense) benefit(6,081)1,109 (7,190)(648 %)Net income (loss) attributable to Acacia Research Corporation24,287 (186)24,473 (13,158 %)

Results of Operations - three months ended March 31, 2025 compared with the three months ended March 31, 2024

Total revenues increased $100.1 million to $124.4 million for the three months ended March 31, 2025, as compared to $24.3 million for the three months ended March 31, 2024, due to an increase in our Intellectual Property Operations revenues and our Manufacturing Operations revenue and Energy Operations revenue including the revenue from the recent  acquisitions (refer to Note 3). Intellectual Property Operations revenues increased $56.3 million due to an increase in average license fees per agreement for the three months ended March 31, 2025. Industrial Operations revenues decreased $1.2 million due to decrease in the number of  printer units and consumables products sold compared to the comparable prior period. 

Income before income taxes was $29.6 million for the three months ended March 31, 202