secwatch.observer — SEC 8-K summary
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Issuer:     ACACIA RESEARCH CORP (ACTG)
CIK:        0000934549
Form:       8-K
Filed at:   2023-11-13T23:59:59+00:00
Accession:  0000934549-23-000098
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Acacia Research Q3 revenue down 36% YoY to $10.1M; net income $1.6M but diluted EPS loss $0.03
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- Revenue $10.1M vs $15.9M YoY; operating loss widened to $15.4M from $11.4M.
- GAAP net income $1.6M ($0.03 diluted loss per share) vs $28.1M ($0.02 EPS) YoY.
- Acquired majority stake in Benchmark Energy II LLC on Nov 13 for oil and gas growth.
- Agreed to sell Arix Bioscience stake for $57.1M cash; expected close Q1 2024.
- Board approved $20M stock repurchase program (up to 5.8M shares) on Nov 9.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/934549/000093454923000098/0000934549-23-000098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/934549/000093454923000098/actg-20231109.htm
  HTML page:      https://secwatch.observer/filing/0000934549-23-000098

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer