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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and IonQ, Inc. (IONQ). Click either name above to swap in a different company.
IonQ, Inc. is the larger business by last-quarter revenue ($61.9M vs $50.1M, roughly 1.2× ACACIA RESEARCH CORP). IonQ, Inc. runs the higher net margin — 1217.8% vs 6.8%, a 1210.9% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 2.6%).
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.
IonQ, Inc. is an American quantum computing hardware and software company headquartered in College Park, Maryland. The company develops general-purpose trapped ion quantum computers and accompanying software to generate, optimize, and execute quantum circuits.
ACTG vs IONQ — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $61.9M |
| Net Profit | $3.4M | $753.7M |
| Gross Margin | 12.8% | — |
| Operating Margin | -26.1% | -369.4% |
| Net Margin | 6.8% | 1217.8% |
| Revenue YoY | 2.6% | 428.5% |
| Net Profit YoY | 125.5% | 473.1% |
| EPS (diluted) | $0.03 | $2.60 |
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 | $61.9M | ||
| Q3 25 | $59.4M | $39.9M | ||
| Q2 25 | $51.2M | $20.7M | ||
| Q1 25 | $124.4M | — | ||
| Q4 24 | $48.8M | $11.7M | ||
| Q3 24 | $23.3M | $12.4M | ||
| Q2 24 | $25.8M | $11.4M | ||
| Q1 24 | $24.3M | — |
| Q4 25 | $3.4M | $753.7M | ||
| Q3 25 | $-2.7M | $-1.1B | ||
| Q2 25 | $-3.3M | $-176.8M | ||
| Q1 25 | $24.3M | — | ||
| Q4 24 | $-13.4M | $-202.0M | ||
| Q3 24 | $-14.0M | $-52.5M | ||
| Q2 24 | $-8.4M | $-37.6M | ||
| Q1 24 | $-186.0K | — |
| Q4 25 | 12.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 47.4% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 26.2% | — | ||
| Q1 24 | 49.2% | — |
| Q4 25 | -26.1% | -369.4% | ||
| Q3 25 | -10.8% | -423.5% | ||
| Q2 25 | -24.2% | -776.0% | ||
| Q1 25 | 30.8% | — | ||
| Q4 24 | -32.4% | -661.9% | ||
| Q3 24 | -44.1% | -428.5% | ||
| Q2 24 | -18.4% | -430.0% | ||
| Q1 24 | -8.6% | — |
| Q4 25 | 6.8% | 1217.8% | ||
| Q3 25 | -4.6% | -2646.3% | ||
| Q2 25 | -6.4% | -854.5% | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | -27.5% | -1725.0% | ||
| Q3 24 | -60.0% | -423.4% | ||
| Q2 24 | -32.7% | -330.0% | ||
| Q1 24 | -0.8% | — |
| Q4 25 | $0.03 | $2.60 | ||
| Q3 25 | $-0.03 | $-3.58 | ||
| Q2 25 | $-0.03 | $-0.70 | ||
| Q1 25 | $0.25 | — | ||
| Q4 24 | $-0.14 | $-0.95 | ||
| Q3 24 | $-0.14 | $-0.24 | ||
| Q2 24 | $-0.08 | $-0.18 | ||
| Q1 24 | $0.00 | — |
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 | $2.4B |
| Total DebtLower is stronger | $91.9M | — |
| Stockholders' EquityBook value | $543.5M | $3.8B |
| Total Assets | $771.0M | $6.6B |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $2.4B | ||
| Q3 25 | $301.8M | $1.1B | ||
| Q2 25 | $316.7M | $546.9M | ||
| Q1 25 | $272.0M | — | ||
| Q4 24 | $273.9M | $340.3M | ||
| Q3 24 | $410.9M | $365.7M | ||
| Q2 24 | $441.9M | $369.8M | ||
| Q1 24 | $498.4M | — |
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $543.5M | $3.8B | ||
| Q3 25 | $537.6M | $2.3B | ||
| Q2 25 | $538.6M | $1.2B | ||
| Q1 25 | $540.2M | — | ||
| Q4 24 | $514.8M | $383.9M | ||
| Q3 24 | $540.2M | $435.7M | ||
| Q2 24 | $560.7M | $463.3M | ||
| Q1 24 | $568.3M | — |
| Q4 25 | $771.0M | $6.6B | ||
| Q3 25 | $768.9M | $4.3B | ||
| Q2 25 | $775.5M | $1.3B | ||
| Q1 25 | $801.6M | — | ||
| Q4 24 | $756.4M | $508.4M | ||
| Q3 24 | $707.6M | $497.9M | ||
| Q2 24 | $753.6M | $517.4M | ||
| Q1 24 | $631.7M | — |
| 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 | $-74.5M |
| Free Cash FlowOCF − Capex | — | $-83.3M |
| FCF MarginFCF / Revenue | — | -134.6% |
| Capex IntensityCapex / Revenue | — | 14.2% |
| Cash ConversionOCF / Net Profit | 22.01× | -0.10× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-307.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $-74.5M | ||
| Q3 25 | $9.5M | $-123.1M | ||
| Q2 25 | $50.1M | $-52.6M | ||
| Q1 25 | $2.4M | — | ||
| Q4 24 | $50.1M | $-39.4M | ||
| Q3 24 | $-593.0K | $-19.2M | ||
| Q2 24 | $16.1M | $-26.6M | ||
| Q1 24 | $54.8M | — |
| Q4 25 | — | $-83.3M | ||
| Q3 25 | — | $-127.2M | ||
| Q2 25 | — | $-53.8M | ||
| Q1 25 | $335.0K | — | ||
| Q4 24 | $-98.5M | $-43.0M | ||
| Q3 24 | $-2.8M | $-23.0M | ||
| Q2 24 | $-126.7M | $-34.1M | ||
| Q1 24 | $54.6M | — |
| Q4 25 | — | -134.6% | ||
| Q3 25 | — | -319.1% | ||
| Q2 25 | — | -259.8% | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | -201.8% | -367.4% | ||
| Q3 24 | -12.1% | -185.3% | ||
| Q2 24 | -490.5% | -299.3% | ||
| Q1 24 | 224.4% | — |
| Q4 25 | — | 14.2% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 304.4% | 30.7% | ||
| Q3 24 | 9.6% | 30.4% | ||
| Q2 24 | 553.0% | 65.8% | ||
| Q1 24 | 1.1% | — |
| Q4 25 | 22.01× | -0.10× | ||
| 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% |
IONQ
| Other | $31.2M | 50% |
| Platform Consulting And Support Services | $30.7M | 50% |
