Company: ACTG
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000934549-25-000004
Chunk: 71

Company: ACACIA RESEARCH CORP
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7
Chunk 71
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, including those set forth under Item 1A, “Risk Factors.” Any efforts to seek additional funding could be made through issuances of equity or debt, or other external financing. However, additional funding may not be available to us on favorable terms, or at all. The capital and credit markets have experienced extreme volatility and disruption in recent years, and the volatility and impact of the disruption may continue. At times during this period, the volatility and disruption has reached unprecedented levels. In several cases, the markets have exerted downward pressure on stock prices and credit capacity for certain issuers, and the commercial paper markets may not be a reliable source of short-term financing for us. If we fail to obtain additional financing when needed, we may not be able to execute our business plans and our business, conducted by our operating subsidiaries, may suffer.

Cash, Cash Equivalents and Investments

Our consolidated cash, cash equivalents and equity securities totaled $297.0 million at December 31, 2024, compared to $403.2 million at December 31, 2023. 

The Benchmark Revolving Credit Facility and Deflecto Revolving Credit Facility include covenants potentially limiting our borrowing capacity as determined by a leverage ratio. As of December 31, 2024, we were in compliance with all financial covenants applicable to our debt agreements. Refer to Note 11 to the accompanying consolidated financial statements for additional information.

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Cash Flows Summary 

The net change in cash and cash equivalents for the periods presented was comprised of the following:

Years Ended December 31,20242023(In thousands)Net cash (used in) provided by:Operating activities$50,122 $(22,506)Investing activities(212,963)16,178 Financing activities97,556 58,632 Effect of exchange rates on cash and cash equivalents(926)1 (Decrease) increase in cash and cash equivalents$(66,211)$52,305 

Cash Flows from Operating Activities

Cash flows from operating activities were comprised of the following for the periods presented:

Years Ended December 31,20242023(In thousands)Net (loss) income including noncontrolling interests in subsidiaries$(34,698)$68,930 Adjustments to reconcile net loss including noncontrolling interests in   subsidiaries to net cash provided by (used in) operating activities:Depreciation, depletion and amortization33,574 14,728 Accretion of asset retirement obligation