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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and indie Semiconductor, Inc. (INDI). Click either name above to swap in a different company.
indie Semiconductor, Inc. is the larger business by last-quarter revenue ($58.0M vs $50.1M, roughly 1.2× ACACIA RESEARCH CORP). ACACIA RESEARCH CORP runs the higher net margin — 6.8% vs -53.8%, a 60.7% gap on every dollar of revenue. On growth, ACACIA RESEARCH CORP posted the faster year-over-year revenue change (2.6% vs -0.0%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs 5.3%).
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.
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
ACTG vs INDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $58.0M |
| Net Profit | $3.4M | $-31.2M |
| Gross Margin | 12.8% | 37.3% |
| Operating Margin | -26.1% | -58.5% |
| Net Margin | 6.8% | -53.8% |
| Revenue YoY | 2.6% | -0.0% |
| Net Profit YoY | 125.5% | 9.1% |
| EPS (diluted) | $0.03 | $-0.16 |
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 | $58.0M | ||
| Q3 25 | $59.4M | $53.7M | ||
| Q2 25 | $51.2M | $51.6M | ||
| Q1 25 | $124.4M | $54.1M | ||
| Q4 24 | $48.8M | $58.0M | ||
| Q3 24 | $23.3M | $54.0M | ||
| Q2 24 | $25.8M | $52.4M | ||
| Q1 24 | $24.3M | $52.4M |
| Q4 25 | $3.4M | $-31.2M | ||
| Q3 25 | $-2.7M | $-38.3M | ||
| Q2 25 | $-3.3M | $-39.0M | ||
| Q1 25 | $24.3M | $-34.5M | ||
| Q4 24 | $-13.4M | $-34.4M | ||
| Q3 24 | $-14.0M | $-49.7M | ||
| Q2 24 | $-8.4M | $-19.2M | ||
| Q1 24 | $-186.0K | $-31.2M |
| Q4 25 | 12.8% | 37.3% | ||
| Q3 25 | 21.2% | 40.1% | ||
| Q2 25 | 12.8% | 40.6% | ||
| Q1 25 | 47.4% | 41.7% | ||
| Q4 24 | 17.6% | 42.6% | ||
| Q3 24 | 10.1% | 39.3% | ||
| Q2 24 | 26.2% | 42.2% | ||
| Q1 24 | 49.2% | 42.5% |
| Q4 25 | -26.1% | -58.5% | ||
| Q3 25 | -10.8% | -71.4% | ||
| Q2 25 | -24.2% | -83.3% | ||
| Q1 25 | 30.8% | -72.0% | ||
| Q4 24 | -32.4% | -58.4% | ||
| Q3 24 | -44.1% | -92.5% | ||
| Q2 24 | -18.4% | -70.0% | ||
| Q1 24 | -8.6% | -94.8% |
| Q4 25 | 6.8% | -53.8% | ||
| Q3 25 | -4.6% | -71.3% | ||
| Q2 25 | -6.4% | -75.6% | ||
| Q1 25 | 19.5% | -63.9% | ||
| Q4 24 | -27.5% | -59.2% | ||
| Q3 24 | -60.0% | -92.1% | ||
| Q2 24 | -32.7% | -36.6% | ||
| Q1 24 | -0.8% | -59.6% |
| Q4 25 | $0.03 | $-0.16 | ||
| Q3 25 | $-0.03 | $-0.19 | ||
| Q2 25 | $-0.03 | $-0.20 | ||
| Q1 25 | $0.25 | $-0.18 | ||
| Q4 24 | $-0.14 | $-0.18 | ||
| Q3 24 | $-0.14 | $-0.28 | ||
| Q2 24 | $-0.08 | $-0.11 | ||
| Q1 24 | $0.00 | $-0.19 |
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 | $145.5M |
| Total DebtLower is stronger | $91.9M | $353.4M |
| Stockholders' EquityBook value | $543.5M | $358.0M |
| Total Assets | $771.0M | $840.8M |
| Debt / EquityLower = less leverage | 0.17× | 0.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $145.5M | ||
| Q3 25 | $301.8M | $160.9M | ||
| Q2 25 | $316.7M | $192.6M | ||
| Q1 25 | $272.0M | $236.6M | ||
| Q4 24 | $273.9M | $274.2M | ||
| Q3 24 | $410.9M | $96.9M | ||
| Q2 24 | $441.9M | $112.3M | ||
| Q1 24 | $498.4M | $138.2M |
| Q4 25 | $91.9M | $353.4M | ||
| Q3 25 | — | $353.5M | ||
| Q2 25 | — | $352.5M | ||
| Q1 25 | — | $379.0M | ||
| Q4 24 | — | $381.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $543.5M | $358.0M | ||
| Q3 25 | $537.6M | $369.2M | ||
| Q2 25 | $538.6M | $390.4M | ||
| Q1 25 | $540.2M | $405.6M | ||
| Q4 24 | $514.8M | $417.9M | ||
| Q3 24 | $540.2M | $458.6M | ||
| Q2 24 | $560.7M | $470.7M | ||
| Q1 24 | $568.3M | $432.9M |
| Q4 25 | $771.0M | $840.8M | ||
| Q3 25 | $768.9M | $855.1M | ||
| Q2 25 | $775.5M | $867.6M | ||
| Q1 25 | $801.6M | $909.0M | ||
| Q4 24 | $756.4M | $941.4M | ||
| Q3 24 | $707.6M | $797.5M | ||
| Q2 24 | $753.6M | $797.3M | ||
| Q1 24 | $631.7M | $803.6M |
| Q4 25 | 0.17× | 0.99× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 0.91× | ||
| 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 | $-14.4M |
| Free Cash FlowOCF − Capex | — | $-16.1M |
| FCF MarginFCF / Revenue | — | -27.8% |
| Capex IntensityCapex / Revenue | — | 3.0% |
| Cash ConversionOCF / Net Profit | 22.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-71.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $-14.4M | ||
| Q3 25 | $9.5M | $-6.2M | ||
| Q2 25 | $50.1M | $-7.6M | ||
| Q1 25 | $2.4M | $-29.0M | ||
| Q4 24 | $50.1M | $-6.7M | ||
| Q3 24 | $-593.0K | $-22.8M | ||
| Q2 24 | $16.1M | $-19.7M | ||
| Q1 24 | $54.8M | $-9.3M |
| Q4 25 | — | $-16.1M | ||
| Q3 25 | — | $-10.3M | ||
| Q2 25 | — | $-13.6M | ||
| Q1 25 | $335.0K | $-31.4M | ||
| Q4 24 | $-98.5M | $-8.6M | ||
| Q3 24 | $-2.8M | $-29.3M | ||
| Q2 24 | $-126.7M | $-23.4M | ||
| Q1 24 | $54.6M | $-11.7M |
| Q4 25 | — | -27.8% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | — | -26.4% | ||
| Q1 25 | 0.3% | -58.0% | ||
| Q4 24 | -201.8% | -14.8% | ||
| Q3 24 | -12.1% | -54.3% | ||
| Q2 24 | -490.5% | -44.7% | ||
| Q1 24 | 224.4% | -22.3% |
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | — | 11.6% | ||
| Q1 25 | 1.7% | 4.4% | ||
| Q4 24 | 304.4% | 3.2% | ||
| Q3 24 | 9.6% | 12.1% | ||
| Q2 24 | 553.0% | 7.0% | ||
| Q1 24 | 1.1% | 4.4% |
| 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% |
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
