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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and C3.ai, Inc. (AI). Click either name above to swap in a different company.
C3.ai, Inc. is the larger business by last-quarter revenue ($75.1M vs $50.1M, roughly 1.5× ACACIA RESEARCH CORP). ACACIA RESEARCH CORP runs the higher net margin — 6.8% vs -139.3%, a 146.1% gap on every dollar of revenue. On growth, ACACIA RESEARCH CORP posted the faster year-over-year revenue change (2.6% vs -20.3%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs -2.1%).
Acacia Research Corporation is a publicly traded American company based in New York City. It acquires and operates businesses in industries including the technology, energy, and industrial/manufacturing sectors. Acacia has a strategic relationship with Starboard Value, LP, the company's controlling shareholder. The company has been characterized as a patent troll.
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
ACTG vs AI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $75.1M |
| Net Profit | $3.4M | $-104.7M |
| Gross Margin | 12.8% | 40.4% |
| Operating Margin | -26.1% | -149.2% |
| Net Margin | 6.8% | -139.3% |
| Revenue YoY | 2.6% | -20.3% |
| Net Profit YoY | 125.5% | -58.7% |
| EPS (diluted) | $0.03 | $-0.75 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $50.1M | $75.1M | ||
| Q3 25 | $59.4M | $70.3M | ||
| Q2 25 | $51.2M | $108.7M | ||
| Q1 25 | $124.4M | $98.8M | ||
| Q4 24 | $48.8M | $94.3M | ||
| Q3 24 | $23.3M | $87.2M | ||
| Q2 24 | $25.8M | $86.6M | ||
| Q1 24 | $24.3M | $78.4M |
| Q4 25 | $3.4M | $-104.7M | ||
| Q3 25 | $-2.7M | $-116.8M | ||
| Q2 25 | $-3.3M | $-79.7M | ||
| Q1 25 | $24.3M | $-80.2M | ||
| Q4 24 | $-13.4M | $-66.0M | ||
| Q3 24 | $-14.0M | $-62.8M | ||
| Q2 24 | $-8.4M | $-72.9M | ||
| Q1 24 | $-186.0K | $-72.6M |
| Q4 25 | 12.8% | 40.4% | ||
| Q3 25 | 21.2% | 37.6% | ||
| Q2 25 | 12.8% | 62.1% | ||
| Q1 25 | 47.4% | 59.1% | ||
| Q4 24 | 17.6% | 61.3% | ||
| Q3 24 | 10.1% | 59.8% | ||
| Q2 24 | 26.2% | 59.6% | ||
| Q1 24 | 49.2% | 57.8% |
| Q4 25 | -26.1% | -149.2% | ||
| Q3 25 | -10.8% | -177.7% | ||
| Q2 25 | -24.2% | -81.8% | ||
| Q1 25 | 30.8% | -88.7% | ||
| Q4 24 | -32.4% | -79.8% | ||
| Q3 24 | -44.1% | -83.2% | ||
| Q2 24 | -18.4% | -95.1% | ||
| Q1 24 | -8.6% | -105.3% |
| Q4 25 | 6.8% | -139.3% | ||
| Q3 25 | -4.6% | -166.2% | ||
| Q2 25 | -6.4% | -73.3% | ||
| Q1 25 | 19.5% | -81.2% | ||
| Q4 24 | -27.5% | -69.9% | ||
| Q3 24 | -60.0% | -72.0% | ||
| Q2 24 | -32.7% | -84.2% | ||
| Q1 24 | -0.8% | -92.6% |
| Q4 25 | $0.03 | $-0.75 | ||
| Q3 25 | $-0.03 | $-0.86 | ||
| Q2 25 | $-0.03 | $-0.60 | ||
| Q1 25 | $0.25 | $-0.62 | ||
| Q4 24 | $-0.14 | $-0.52 | ||
| Q3 24 | $-0.14 | $-0.50 | ||
| Q2 24 | $-0.08 | $-0.59 | ||
| Q1 24 | $0.00 | $-0.60 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $306.7M | $675.0M |
| Total DebtLower is stronger | $91.9M | — |
| Stockholders' EquityBook value | $543.5M | $771.9M |
| Total Assets | $771.0M | $961.3M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $675.0M | ||
| Q3 25 | $301.8M | $711.9M | ||
| Q2 25 | $316.7M | $742.7M | ||
| Q1 25 | $272.0M | $724.3M | ||
| Q4 24 | $273.9M | $730.4M | ||
| Q3 24 | $410.9M | $762.5M | ||
| Q2 24 | $441.9M | $750.4M | ||
| Q1 24 | $498.4M | $723.3M |
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $543.5M | $771.9M | ||
| Q3 25 | $537.6M | $798.8M | ||
| Q2 25 | $538.6M | $838.3M | ||
| Q1 25 | $540.2M | $860.2M | ||
| Q4 24 | $514.8M | $859.0M | ||
| Q3 24 | $540.2M | $874.9M | ||
| Q2 24 | $560.7M | $873.4M | ||
| Q1 24 | $568.3M | $898.0M |
| Q4 25 | $771.0M | $961.3M | ||
| Q3 25 | $768.9M | $968.7M | ||
| Q2 25 | $775.5M | $1.0B | ||
| Q1 25 | $801.6M | $1.1B | ||
| Q4 24 | $756.4M | $1.0B | ||
| Q3 24 | $707.6M | $1.1B | ||
| Q2 24 | $753.6M | $1.0B | ||
| Q1 24 | $631.7M | $1.1B |
| Q4 25 | 0.17× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $75.2M | $-46.5M |
| Free Cash FlowOCF − Capex | — | $-46.9M |
| FCF MarginFCF / Revenue | — | -62.4% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | 22.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-93.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $-46.5M | ||
| Q3 25 | $9.5M | $-33.5M | ||
| Q2 25 | $50.1M | $11.3M | ||
| Q1 25 | $2.4M | $-22.0M | ||
| Q4 24 | $50.1M | $-38.7M | ||
| Q3 24 | $-593.0K | $8.0M | ||
| Q2 24 | $16.1M | $21.3M | ||
| Q1 24 | $54.8M | $-39.1M |
| Q4 25 | — | $-46.9M | ||
| Q3 25 | — | $-34.3M | ||
| Q2 25 | — | $10.3M | ||
| Q1 25 | $335.0K | $-22.4M | ||
| Q4 24 | $-98.5M | $-39.5M | ||
| Q3 24 | $-2.8M | $7.1M | ||
| Q2 24 | $-126.7M | $18.8M | ||
| Q1 24 | $54.6M | $-45.1M |
| Q4 25 | — | -62.4% | ||
| Q3 25 | — | -48.8% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | 0.3% | -22.7% | ||
| Q4 24 | -201.8% | -41.9% | ||
| Q3 24 | -12.1% | 8.2% | ||
| Q2 24 | -490.5% | 21.7% | ||
| Q1 24 | 224.4% | -57.6% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | 1.7% | 0.4% | ||
| Q4 24 | 304.4% | 0.9% | ||
| Q3 24 | 9.6% | 1.1% | ||
| Q2 24 | 553.0% | 2.9% | ||
| Q1 24 | 1.1% | 7.8% |
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
