Company: ACTG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000934549-25-000021
Chunk: 92

Company: ACACIA RESEARCH CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 92
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%Natural gas liquids (per Bbl)$0.66 $0.60 $0.06 10 %

Refer to Note 2 to the condensed consolidated financial statements elsewhere herein for additional information regarding Benchmark’s revenue arrangements and related concentrations.

Cost of Production

Benchmark’s cost of production for the three months ended March 31, 2025 and 2024 was $12.7 million and $1.3 million, respectively, with the increase due to the assets acquired in the Revolution Transaction in April 2024. 

52

Manufacturing Operations

Revenues

The following table includes Deflecto’s revenues for the three months ended March 31, 2025, with no comparable prior year period information as the Deflecto Transaction closed in October 2024.

Three Months EndedMarch 31,20252024Air distribution$9,856 $— Safety products10,128 — Office products8,551 — Total$28,535 $— 

Cost of Revenues

Refer to Note 2 to the condensed consolidated financial statements elsewhere herein for additional information regarding Deflecto’s cost of revenues.

Operating Expenses

Three Months EndedMarch 31,20252024$ Change% Change(In thousands, except percentage change values)Sales and marketing expenses - industrial operations$1,567 $1,555 $12 1 %Sales and marketing expenses - manufacturing operations1,745 — 1,745 n/aGeneral and administrative costs - intellectual property operations3,485 3,340 145 4 %General and administrative costs - industrial operations1,743 2,025 (282)(14 %)General and administrative costs - energy operations1,607 385 1,222 317 %General and administrative costs - manufacturing operations5,708 — 5,708 n/aParent general and administrative expenses4,777 6,737 (1,960)(29 %)Total general and administrative expenses17,320 12,487 4,833 39 %Total$20,632 $14,042 $6,590 47 %

The operating expenses table above includes the Company’s general and administrative expenses by operation, Printronix’s sales and marketing expenses, and Benchmark’s general and administrative costs. The table also includes Deflecto’s sales and marketing expenses and general and administrative costs for the three months ended March 31, 2025, with no comparable