Acacia Research Q1 Earnings Call Highlights

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Thu, May 7, 2026 astatine 8:22 AM CDT 9 min read

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Key Points

Benchmark energy: Delivered grounds quarterly gross of $18.7 cardinal and $7.7 cardinal of adjusted EBITDA; the archetypal Cherokee good came online (development outgo $11.5M) with absorption targeting >2.5x MOIC/60%+ IRR and April accumulation exceeded 63,000 barrels, though a $9.7M unrealized hedge mark‑to‑market nonaccomplishment lowered GAAP EPS by astir $0.10.
Deflecto consolidation and outgo actions: Portland operations were consolidated into Dover (effective extremity of April) with expected annualized savings of astir $2 cardinal opening end‑Q2/into H2, portion the concern showed humble sequential gross and adjusted EBITDA gains and ongoing G&A rationalization.
IP and balance‑sheet picture: The IP conception was anemic and episodic (Q1 gross $0.7M, antagonistic adjusted EBITDA $3.5M), yet Acacia reported $54.2M successful gross and operated adjusted EBITDA of $6.8M ($10.3M ex‑IP), held $329.9M of cash/equities/loans, generated $10.2M operating currency travel from halfway segments, and the genitor had nary indebtedness.
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Acacia Research (NASDAQ:ACTG) executives highlighted improving operating show astatine the company’s vigor and concern businesses and continued outgo actions astatine its manufacturing unit, portion besides acknowledging the inherently “episodic” quality of intelligence spot monetization during the company’s first-quarter 2026 net call.

Chief Executive Officer MJ McNulty said Acacia remains focused connected “acquiring and gathering businesses wherever our operational excellence tin make stable, semipermanent currency travel procreation and scalability,” portion besides driving EBITDA and escaped currency travel maturation crossed its existing portfolio. The institution reported first-quarter gross of $54.2 cardinal and operated conception adjusted EBITDA of $6.8 million. McNulty added that excluding intelligence spot operations, operated conception adjusted EBITDA was “stable sequentially astatine $10.3 million.”

Benchmark posts grounds revenue; archetypal Cherokee good comes online

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McNulty said Acacia’s Benchmark vigor operations “performed up of our expectations” successful the archetypal 3 months of the year, delivering “record quarterly gross of $18.7 million” and $7.7 cardinal of adjusted EBITDA. He attributed the accidental acceptable to Benchmark’s efforts implicit the past twelvemonth to optimize its onshore presumption done “buying, selling, and swapping acreage to maximize our monetizable units” successful preferred parts of the basin.

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