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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and FLYEXCLUSIVE INC. (FLYX). Click either name above to swap in a different company.
FLYEXCLUSIVE INC. is the larger business by last-quarter revenue ($92.1M vs $50.1M, roughly 1.8× ACACIA RESEARCH CORP). ACACIA RESEARCH CORP runs the higher net margin — 6.8% vs -4.6%, a 11.5% gap on every dollar of revenue. On growth, FLYEXCLUSIVE INC. posted the faster year-over-year revenue change (19.8% vs 2.6%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs 21.9%).
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.
FLYEXCLUSIVE INC. is a U.S.-headquartered private aviation services provider that offers private jet charter, aircraft management, maintenance repair, and fractional ownership programs. It primarily serves high-net-worth individuals, corporate clients, and government entities across North America, delivering personalized on-demand air travel solutions prioritizing safety and convenience.
ACTG vs FLYX — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $92.1M |
| Net Profit | $3.4M | $-4.3M |
| Gross Margin | 12.8% | 13.7% |
| Operating Margin | -26.1% | -12.3% |
| Net Margin | 6.8% | -4.6% |
| Revenue YoY | 2.6% | 19.8% |
| Net Profit YoY | 125.5% | 32.0% |
| EPS (diluted) | $0.03 | $-0.25 |
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 | — | ||
| Q3 25 | $59.4M | $92.1M | ||
| Q2 25 | $51.2M | $91.3M | ||
| Q1 25 | $124.4M | $88.1M | ||
| Q4 24 | $48.8M | — | ||
| Q3 24 | $23.3M | $76.9M | ||
| Q2 24 | $25.8M | $79.0M | ||
| Q1 24 | $24.3M | $80.0M |
| Q4 25 | $3.4M | — | ||
| Q3 25 | $-2.7M | $-4.3M | ||
| Q2 25 | $-3.3M | $-4.8M | ||
| Q1 25 | $24.3M | $-5.4M | ||
| Q4 24 | $-13.4M | — | ||
| Q3 24 | $-14.0M | $-6.3M | ||
| Q2 24 | $-8.4M | $-5.2M | ||
| Q1 24 | $-186.0K | $-5.8M |
| Q4 25 | 12.8% | — | ||
| Q3 25 | 21.2% | 13.7% | ||
| Q2 25 | 12.8% | 15.0% | ||
| Q1 25 | 47.4% | 12.8% | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 10.1% | 11.3% | ||
| Q2 24 | 26.2% | 7.9% | ||
| Q1 24 | 49.2% | 7.2% |
| Q4 25 | -26.1% | — | ||
| Q3 25 | -10.8% | -12.3% | ||
| Q2 25 | -24.2% | -13.5% | ||
| Q1 25 | 30.8% | -16.7% | ||
| Q4 24 | -32.4% | — | ||
| Q3 24 | -44.1% | -27.2% | ||
| Q2 24 | -18.4% | -27.6% | ||
| Q1 24 | -8.6% | -34.3% |
| Q4 25 | 6.8% | — | ||
| Q3 25 | -4.6% | -4.6% | ||
| Q2 25 | -6.4% | -5.2% | ||
| Q1 25 | 19.5% | -6.2% | ||
| Q4 24 | -27.5% | — | ||
| Q3 24 | -60.0% | -8.2% | ||
| Q2 24 | -32.7% | -6.5% | ||
| Q1 24 | -0.8% | -7.3% |
| Q4 25 | $0.03 | — | ||
| Q3 25 | $-0.03 | $-0.25 | ||
| Q2 25 | $-0.03 | $-0.26 | ||
| Q1 25 | $0.25 | $-0.30 | ||
| Q4 24 | $-0.14 | — | ||
| Q3 24 | $-0.14 | $-0.32 | ||
| Q2 24 | $-0.08 | $-0.32 | ||
| Q1 24 | $0.00 | $-0.35 |
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 | $18.7M |
| Total DebtLower is stronger | $91.9M | $123.9M |
| Stockholders' EquityBook value | $543.5M | $-434.2M |
| Total Assets | $771.0M | $448.1M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | — | ||
| Q3 25 | $301.8M | $18.7M | ||
| Q2 25 | $316.7M | $15.8M | ||
| Q1 25 | $272.0M | $14.7M | ||
| Q4 24 | $273.9M | — | ||
| Q3 24 | $410.9M | $18.7M | ||
| Q2 24 | $441.9M | $9.3M | ||
| Q1 24 | $498.4M | $5.3M |
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | $123.9M | ||
| Q2 25 | — | $111.6M | ||
| Q1 25 | — | $121.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $197.9M | ||
| Q2 24 | — | $206.3M | ||
| Q1 24 | — | $209.4M |
| Q4 25 | $543.5M | — | ||
| Q3 25 | $537.6M | $-434.2M | ||
| Q2 25 | $538.6M | $-261.4M | ||
| Q1 25 | $540.2M | $-281.5M | ||
| Q4 24 | $514.8M | — | ||
| Q3 24 | $540.2M | $-192.0M | ||
| Q2 24 | $560.7M | $-149.7M | ||
| Q1 24 | $568.3M | $-149.5M |
| Q4 25 | $771.0M | — | ||
| Q3 25 | $768.9M | $448.1M | ||
| Q2 25 | $775.5M | $443.4M | ||
| Q1 25 | $801.6M | $466.8M | ||
| Q4 24 | $756.4M | — | ||
| Q3 24 | $707.6M | $487.1M | ||
| Q2 24 | $753.6M | $494.7M | ||
| Q1 24 | $631.7M | $524.1M |
| 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 | $-209.0K |
| Free Cash FlowOCF − Capex | — | $-11.0M |
| FCF MarginFCF / Revenue | — | -12.0% |
| Capex IntensityCapex / Revenue | — | 11.7% |
| Cash ConversionOCF / Net Profit | 22.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-51.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | — | ||
| Q3 25 | $9.5M | $-209.0K | ||
| Q2 25 | $50.1M | $363.0K | ||
| Q1 25 | $2.4M | $-10.5M | ||
| Q4 24 | $50.1M | — | ||
| Q3 24 | $-593.0K | $-12.3M | ||
| Q2 24 | $16.1M | $-16.2M | ||
| Q1 24 | $54.8M | $-26.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $-11.0M | ||
| Q2 25 | — | $353.0K | ||
| Q1 25 | $335.0K | $-14.6M | ||
| Q4 24 | $-98.5M | — | ||
| Q3 24 | $-2.8M | $-25.7M | ||
| Q2 24 | $-126.7M | $-26.6M | ||
| Q1 24 | $54.6M | $-64.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | -12.0% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | 0.3% | -16.5% | ||
| Q4 24 | -201.8% | — | ||
| Q3 24 | -12.1% | -33.5% | ||
| Q2 24 | -490.5% | -33.7% | ||
| Q1 24 | 224.4% | -80.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | 11.7% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | 1.7% | 4.7% | ||
| Q4 24 | 304.4% | — | ||
| Q3 24 | 9.6% | 17.5% | ||
| Q2 24 | 553.0% | 13.2% | ||
| Q1 24 | 1.1% | 48.2% |
| 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% |
FLYX
Segment breakdown not available.
