ACACIA RESEARCH CORP
For the period ended Mar 11, 2026. Filed Mar 11, 2026.
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Mar 11, 2026 · Filed Mar 11, 2026
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EX-99.1 · Adjusted EBITDA
Adjusted EBITDA
The following table provides a reconciliation of consolidated Net Income (Loss), the most directly comparable GAAP measure, to Total Company Adjusted EBITDA for thethree months andyear ended December 31, 2025 and December 31, 2024.
| Three Months Ended December 31, | Years Ended December 31, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| (In thousands, unaudited) | ||||
| GAAP Net Income (Loss) | $3,418 | $(13,429) | $21,682 | $(36,057) |
| Net (Income) Loss Attributable to Noncontrolling Interests | 1,355 | (594) | 2,788 | 1,359 |
| Income Tax Expense (Benefit) | 1,181 | (776) | 6,841 | (3,449) |
| Interest Expense | 1,979 | 2,379 | 8,989 | 6,464 |
| Interest Income | (2,813) | (3,109) | (11,260) | (17,682) |
| (Gain) Loss on Foreign Currency Exchange | (9) | 298 | (414) | 370 |
| Net Realized and Unrealized (Gain) Loss on Derivatives | (3,963) | 3,530 | (7,449) | (2,016) |
| Net Realized and Unrealized (Gain) Loss on Investments | 787 | (4,107) | (1,067) | 2,551 |
| Non-recurring Legacy Legal Expense | — | — | — | 14,857 |
| Service Provider Settlement, net | (15,750) | — | (15,750) | — |
| Other (Income) Expense, net | 730 | (1) | 2,049 | 677 |
| GAAP Operating Income (Loss) | $(13,085) | $(15,809) | $6,409 | $(32,926) |
| Depreciation, Depletion & Amortization | 10,457 | 11,839 | 43,348 | 33,574 |
| Stock-Based Compensation | 1,987 | 2,265 | 5,738 | 4,795 |
| Realized Hedge Gain | 1,740 | 998 | 3,731 | 2,626 |
| Service Provider Settlement, net | 15,750 | — | 15,750 | — |
| Transaction-Related Costs | 222 | 5,512 | 1,510 | 6,054 |
| Legacy Matter Costs | 2 | 52 | 14 | 2,829 |
| Severance Costs | 336 | — | 1,449 | — |
| Total Company Adjusted EBITDA | $17,409 | $4,857 | $77,949 | $16,952 |
The following table provides the Adjusted EBITDA for each of the Company’s operating segments for the three months andyear ended December 31, 2025 and December 31, 2024.
| Three Months Ended December 31, | Years Ended December 31, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| (In thousands, unaudited) | ||||
| Energy Operations Adjusted EBITDA2 | $8,099 | $8,380 | $29,133 | $25,239 |
| Industrial Operations Adjusted EBITDA2 | 1,064 | 1,604 | 3,533 | 4,529 |
| Manufacturing Operations Adjusted EBITDA2 | 1,149 | 2,396 | 7,460 | 2,396 |
| Operated Segment Adjusted EBITDA (excluding Intellectual Property Operations) | $10,312 | $12,380 | 40,126 | 32,164 |
| Intellectual Property Operations Adjusted EBITDA2 | 12,055 | (2,748) | 56,263 | 3,582 |
| Operated Segment Adjusted EBITDA | $22,367 | $9,632 | 96,389 | 35,746 |
| Parent Costs2 | (4,958) | (4,775) | (18,440) | (18,794) |
| Total Company Adjusted EBITDA | $17,409 | $4,857 | $77,949 | $16,952 |
2 Energy Operations Adjusted EBITDA, Industrial Operations Adjusted EBITDA, Manufacturing Operations Adjusted EBITDA, Intellectual Property Operations Adjusted EBITDA, and Parent Costs are non-GAAP financial measures. For the definitions of these measures and reconciliations of these measures to the most directly comparable GAAP financial measures, see the accompanying supplemental information section.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.