Company: ACTG
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000934549-25-000054
Chunk: 85

Company: ACACIA RESEARCH CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 85
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$58,589 $38,181 $20,408 53%

The operating expenses table above includes the Company’s general and administrative expense by segment and Industrial Operations and Manufacturing Operations’ sales and marketing expenses. Refer to Note 2 included in our 2024 Annual Report for additional information regarding Printronix’s and Deflecto’s operating expenses.

57

General and Administrative Expenses

A summary of the main drivers of the increases (decreases) in general and administrative expenses is as follows:

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025 vs. 20242025 vs. 2024(In thousands)Personnel costs and board fees$272 $262 Non-recurring employee severance costs— (203)Variable performance-based compensation costs120 411 Compensation expense for share-based awards1,094 1,221 Other general and administrative costs(1,032)(2,696)General and administrative costs - industrial operations(447)(768)General and administrative costs - energy operations138 1,392 General and administrative costs - manufacturing operations4,151 14,026 Amortization of industrial operations and manufacturing operations intangible assets422 $1,323 Total change in general and administrative expenses$4,718 $14,968 

General and administrative expenses includes primarily salaried employee compensation and related personnel costs, administrative office and facilities costs, legal and accounting professional fees, and intangible amortization expenses. The table above includes our Manufacturing Operations general and administrative expenses for the three and nine months ended September 30, 2025, with no comparable period expense as the transaction closed in the fourth quarter of 2024.

The decreases in other general and administrative costs, which relate to our parent company and our Intellectual Property Operations, were primarily due to a decrease in corporate legal fees. The increase in compensation expense for share-based awards was primarily due to increased performance achievement associated with PSUs granted in 2023 based on a probability assessment as of September 30, 2025. Refer to Note 17 to the consolidated financial statements elsewhere herein for additional information regarding compensation expense. The decrease in general and administrative costs of Industrial Operations is due to Printronix’s continued focus on streamlining operating and administrative costs. In addition, our Energy Operations related general and administrative costs contributed an increase of $1.4 million in the nine months ended September 30, 2025 driven by the acquisition of Revolution in 202