earnings
confidence high
sentiment negative
materiality 0.80
Acacia Research Q2 net loss $61.5M; revenue $16.7M; special committee to review Starboard deal
ACACIA RESEARCH CORP
2022-Q2 EPS reported
-$3.06
revenue$30,224,000
- GAAP net loss of $61.5M ($1.44/sh) vs net income of $19.7M ($0.23/sh) in Q2 2021.
- Total revenue $16.7M (IP $8.1M, Industrial $8.7M) down from $17.4M; operating loss $5.7M.
- Repaid $50M of Starboard notes in Q2 and $55M post-quarter; completed $40M share buyback (6.1M shares at avg $4.64).
- Realized gains $11.5M; unrealized losses $57.6M; $26.7M milestone from Mycovia FDA approval expected later in 2022.
- Board formed special committee to review Starboard relationship; pro forma book value $5.87/sh.