Acacia Research Corporation

Acacia Research reported second quarter 2026 total revenue of $114.6 million, up from $51.2 million a year earlier, driven by a $60.9 million licensing settlement with TP-Link in its Wi-Fi 6 portfolio. Adjusted diluted EPS was $0.13, while GAAP net income was just $47,000 after a $30.9 million noncash impairment charge related to its Life Sciences portfolio. The company ended the quarter with $334.6 million in cash, securities and loans receivable, no parent company debt, and consolidated nonrecourse debt of $90.4 million. Benchmark Energy generated record revenue of $20.5 million and adjusted EBITDA of $9.8 million, while Deflecto posted revenue of $27.1 million and adjusted EBITDA of $1.1 million. Management highlighted an active acquisition pipeline and noted that the TP-Link settlement cash was received in early Q3.

Acacia Research Corporation reported second-quarter 2026 results bolstered by a $60.6 million Wi-Fi 6 licensing settlement, which was booked as accounts receivable at quarter-end with cash received in the third quarter. The settlement was subject to significant contractual splits with partners and contingency counsel. Benchmark delivered record revenue supported by the start of production from the Cherokee development, while Deflecto is undergoing manufacturing optimization to position for profitable growth as demand improves. The company recorded a $3.7 million non-recurring legal expense related to legacy litigation and a full write-down of its investment in MalinJ1 due to liquidity issues at Mycovia Pharmaceuticals. Acacia maintains a debt-free parent balance sheet and is exploring a potential transaction to gain direct ownership in Mycovia ahead of upcoming FDA milestones.