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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and Arena Group Holdings, Inc. (AREN). Click either name above to swap in a different company.
ACACIA RESEARCH CORP is the larger business by last-quarter revenue ($50.1M vs $28.2M, roughly 1.8× Arena Group Holdings, Inc.). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs 6.8%, a 12.1% gap on every dollar of revenue. On growth, ACACIA RESEARCH CORP posted the faster year-over-year revenue change (2.6% vs -22.0%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs -1.2%).
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.
Arena Racing Company, also called ARC Racing and Leisure Group is a UK private company, created in 2012 by the merger of Arena Leisure and Northern Racing. It owns and operates 16 racecourses in Great Britain, accounting for 39% of British racing fixtures. It also operates hotels at Wolverhampton Racecourse, Lingfield Park Racecourse and Doncaster Racecourse and golf courses at Lingfield, Southwell and Newcastle.
ACTG vs AREN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $28.2M |
| Net Profit | $3.4M | $5.3M |
| Gross Margin | 12.8% | 43.6% |
| Operating Margin | -26.1% | 26.6% |
| Net Margin | 6.8% | 18.9% |
| Revenue YoY | 2.6% | -22.0% |
| Net Profit YoY | 125.5% | -22.5% |
| EPS (diluted) | $0.03 | $0.12 |
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 | $28.2M | ||
| Q3 25 | $59.4M | $29.8M | ||
| Q2 25 | $51.2M | $45.0M | ||
| Q1 25 | $124.4M | $31.8M | ||
| Q4 24 | $48.8M | $36.2M | ||
| Q3 24 | $23.3M | $33.6M | ||
| Q2 24 | $25.8M | $27.2M | ||
| Q1 24 | $24.3M | $28.9M |
| Q4 25 | $3.4M | $5.3M | ||
| Q3 25 | $-2.7M | $6.9M | ||
| Q2 25 | $-3.3M | $108.6M | ||
| Q1 25 | $24.3M | $4.0M | ||
| Q4 24 | $-13.4M | $6.9M | ||
| Q3 24 | $-14.0M | $4.0M | ||
| Q2 24 | $-8.4M | $-8.2M | ||
| Q1 24 | $-186.0K | $-103.4M |
| Q4 25 | 12.8% | 43.6% | ||
| Q3 25 | 21.2% | 50.2% | ||
| Q2 25 | 12.8% | 56.5% | ||
| Q1 25 | 47.4% | 49.3% | ||
| Q4 24 | 17.6% | 52.6% | ||
| Q3 24 | 10.1% | 50.6% | ||
| Q2 24 | 26.2% | 39.4% | ||
| Q1 24 | 49.2% | 30.9% |
| Q4 25 | -26.1% | 26.6% | ||
| Q3 25 | -10.8% | 31.9% | ||
| Q2 25 | -24.2% | 36.5% | ||
| Q1 25 | 30.8% | 23.1% | ||
| Q4 24 | -32.4% | 28.6% | ||
| Q3 24 | -44.1% | 24.0% | ||
| Q2 24 | -18.4% | -9.5% | ||
| Q1 24 | -8.6% | -27.5% |
| Q4 25 | 6.8% | 18.9% | ||
| Q3 25 | -4.6% | 23.1% | ||
| Q2 25 | -6.4% | 241.4% | ||
| Q1 25 | 19.5% | 12.6% | ||
| Q4 24 | -27.5% | 19.0% | ||
| Q3 24 | -60.0% | 11.8% | ||
| Q2 24 | -32.7% | -30.1% | ||
| Q1 24 | -0.8% | -357.1% |
| Q4 25 | $0.03 | $0.12 | ||
| Q3 25 | $-0.03 | $0.14 | ||
| Q2 25 | $-0.03 | $2.28 | ||
| Q1 25 | $0.25 | $0.08 | ||
| Q4 24 | $-0.14 | $1.23 | ||
| Q3 24 | $-0.14 | $0.11 | ||
| Q2 24 | $-0.08 | $-0.28 | ||
| Q1 24 | $0.00 | $-3.91 |
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 | $10.3M |
| Total DebtLower is stronger | $91.9M | $97.6M |
| Stockholders' EquityBook value | $543.5M | $-4.8M |
| Total Assets | $771.0M | $112.6M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $10.3M | ||
| Q3 25 | $301.8M | $12.5M | ||
| Q2 25 | $316.7M | $6.8M | ||
| Q1 25 | $272.0M | $2.9M | ||
| Q4 24 | $273.9M | $4.4M | ||
| Q3 24 | $410.9M | $5.8M | ||
| Q2 24 | $441.9M | $6.1M | ||
| Q1 24 | $498.4M | $4.0M |
| Q4 25 | $91.9M | $97.6M | ||
| Q3 25 | — | $110.5M | ||
| Q2 25 | — | $110.5M | ||
| Q1 25 | — | $110.5M | ||
| Q4 24 | — | $110.4M | ||
| Q3 24 | — | $102.4M | ||
| Q2 24 | — | $102.4M | ||
| Q1 24 | — | $102.3M |
| Q4 25 | $543.5M | $-4.8M | ||
| Q3 25 | $537.6M | $-10.4M | ||
| Q2 25 | $538.6M | $-17.3M | ||
| Q1 25 | $540.2M | $-126.1M | ||
| Q4 24 | $514.8M | $-130.3M | ||
| Q3 24 | $540.2M | $-137.5M | ||
| Q2 24 | $560.7M | $-157.2M | ||
| Q1 24 | $568.3M | $-149.6M |
| Q4 25 | $771.0M | $112.6M | ||
| Q3 25 | $768.9M | $121.4M | ||
| Q2 25 | $775.5M | $127.8M | ||
| Q1 25 | $801.6M | $114.6M | ||
| Q4 24 | $756.4M | $116.4M | ||
| Q3 24 | $707.6M | $114.2M | ||
| Q2 24 | $753.6M | $113.4M | ||
| Q1 24 | $631.7M | $120.3M |
| 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 | $13.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 22.01× | 2.46× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $13.1M | ||
| Q3 25 | $9.5M | $12.2M | ||
| Q2 25 | $50.1M | $10.3M | ||
| Q1 25 | $2.4M | $3.7M | ||
| Q4 24 | $50.1M | $-8.6M | ||
| Q3 24 | $-593.0K | $-2.3M | ||
| Q2 24 | $16.1M | $-3.2M | ||
| Q1 24 | $54.8M | $-2.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $335.0K | — | ||
| Q4 24 | $-98.5M | — | ||
| Q3 24 | $-2.8M | $-2.4M | ||
| Q2 24 | $-126.7M | — | ||
| Q1 24 | $54.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | -201.8% | — | ||
| Q3 24 | -12.1% | -7.1% | ||
| Q2 24 | -490.5% | — | ||
| Q1 24 | 224.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 304.4% | — | ||
| Q3 24 | 9.6% | 0.1% | ||
| Q2 24 | 553.0% | — | ||
| Q1 24 | 1.1% | — |
| Q4 25 | 22.01× | 2.46× | ||
| Q3 25 | — | 1.77× | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | 0.10× | 0.91× | ||
| Q4 24 | — | -1.25× | ||
| Q3 24 | — | -0.59× | ||
| 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% |
AREN
Segment breakdown not available.
