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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and ON24 INC. (ONTF). Click either name above to swap in a different company.
ACACIA RESEARCH CORP is the larger business by last-quarter revenue ($50.1M vs $34.6M, roughly 1.4× ON24 INC.). ACACIA RESEARCH CORP runs the higher net margin — 6.8% vs -18.8%, a 25.6% gap on every dollar of revenue. On growth, ACACIA RESEARCH CORP posted the faster year-over-year revenue change (2.6% vs -5.6%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs -4.2%).
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.
ON24 Inc., a San Francisco-based company, is a cloud-based platform that develops and sells web-based webinar, virtual conferencing, content hub, and landing page applications as a service for marketing and sales teams in B2B organizations. In 2023 it expanded its offerings to include generative AI services.
ACTG vs ONTF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $34.6M |
| Net Profit | $3.4M | $-6.5M |
| Gross Margin | 12.8% | 74.9% |
| Operating Margin | -26.1% | -23.5% |
| Net Margin | 6.8% | -18.8% |
| Revenue YoY | 2.6% | -5.6% |
| Net Profit YoY | 125.5% | 26.8% |
| EPS (diluted) | $0.03 | $-0.15 |
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 | $34.6M | ||
| Q3 25 | $59.4M | $34.6M | ||
| Q2 25 | $51.2M | $35.3M | ||
| Q1 25 | $124.4M | $34.7M | ||
| Q4 24 | $48.8M | $36.7M | ||
| Q3 24 | $23.3M | $36.3M | ||
| Q2 24 | $25.8M | $37.3M | ||
| Q1 24 | $24.3M | $37.7M |
| Q4 25 | $3.4M | $-6.5M | ||
| Q3 25 | $-2.7M | $-6.4M | ||
| Q2 25 | $-3.3M | $-7.3M | ||
| Q1 25 | $24.3M | $-8.7M | ||
| Q4 24 | $-13.4M | $-8.9M | ||
| Q3 24 | $-14.0M | $-11.4M | ||
| Q2 24 | $-8.4M | $-11.2M | ||
| Q1 24 | $-186.0K | $-10.7M |
| Q4 25 | 12.8% | 74.9% | ||
| Q3 25 | 21.2% | 74.7% | ||
| Q2 25 | 12.8% | 75.1% | ||
| Q1 25 | 47.4% | 73.8% | ||
| Q4 24 | 17.6% | 74.5% | ||
| Q3 24 | 10.1% | 74.3% | ||
| Q2 24 | 26.2% | 74.5% | ||
| Q1 24 | 49.2% | 74.1% |
| Q4 25 | -26.1% | -23.5% | ||
| Q3 25 | -10.8% | -23.1% | ||
| Q2 25 | -24.2% | -26.0% | ||
| Q1 25 | 30.8% | -30.1% | ||
| Q4 24 | -32.4% | -32.1% | ||
| Q3 24 | -44.1% | -36.7% | ||
| Q2 24 | -18.4% | -35.0% | ||
| Q1 24 | -8.6% | -33.1% |
| Q4 25 | 6.8% | -18.8% | ||
| Q3 25 | -4.6% | -18.4% | ||
| Q2 25 | -6.4% | -20.6% | ||
| Q1 25 | 19.5% | -25.1% | ||
| Q4 24 | -27.5% | -24.2% | ||
| Q3 24 | -60.0% | -31.4% | ||
| Q2 24 | -32.7% | -29.9% | ||
| Q1 24 | -0.8% | -28.4% |
| Q4 25 | $0.03 | $-0.15 | ||
| Q3 25 | $-0.03 | $-0.15 | ||
| Q2 25 | $-0.03 | $-0.17 | ||
| Q1 25 | $0.25 | $-0.21 | ||
| Q4 24 | $-0.14 | $-0.21 | ||
| Q3 24 | $-0.14 | $-0.27 | ||
| Q2 24 | $-0.08 | $-0.27 | ||
| Q1 24 | $0.00 | $-0.26 |
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 | $37.0M |
| Total DebtLower is stronger | $91.9M | — |
| Stockholders' EquityBook value | $543.5M | $139.4M |
| Total Assets | $771.0M | $228.4M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $37.0M | ||
| Q3 25 | $301.8M | $47.2M | ||
| Q2 25 | $316.7M | $37.7M | ||
| Q1 25 | $272.0M | $26.8M | ||
| Q4 24 | $273.9M | $14.9M | ||
| Q3 24 | $410.9M | $11.0M | ||
| Q2 24 | $441.9M | $15.5M | ||
| Q1 24 | $498.4M | $18.3M |
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $543.5M | $139.4M | ||
| Q3 25 | $537.6M | $144.3M | ||
| Q2 25 | $538.6M | $150.0M | ||
| Q1 25 | $540.2M | $153.7M | ||
| Q4 24 | $514.8M | $159.4M | ||
| Q3 24 | $540.2M | $164.9M | ||
| Q2 24 | $560.7M | $170.8M | ||
| Q1 24 | $568.3M | $174.4M |
| Q4 25 | $771.0M | $228.4M | ||
| Q3 25 | $768.9M | $224.8M | ||
| Q2 25 | $775.5M | $235.1M | ||
| Q1 25 | $801.6M | $245.8M | ||
| Q4 24 | $756.4M | $251.0M | ||
| Q3 24 | $707.6M | $250.9M | ||
| Q2 24 | $753.6M | $259.0M | ||
| Q1 24 | $631.7M | $269.2M |
| 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 | $-1.1M |
| Free Cash FlowOCF − Capex | — | $-2.2M |
| FCF MarginFCF / Revenue | — | -6.4% |
| Capex IntensityCapex / Revenue | — | 3.3% |
| Cash ConversionOCF / Net Profit | 22.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $-1.1M | ||
| Q3 25 | $9.5M | $2.5M | ||
| Q2 25 | $50.1M | $2.6M | ||
| Q1 25 | $2.4M | $3.4M | ||
| Q4 24 | $50.1M | $985.0K | ||
| Q3 24 | $-593.0K | $295.0K | ||
| Q2 24 | $16.1M | $1.4M | ||
| Q1 24 | $54.8M | $2.1M |
| Q4 25 | — | $-2.2M | ||
| Q3 25 | — | $2.2M | ||
| Q2 25 | — | $2.1M | ||
| Q1 25 | $335.0K | $1.9M | ||
| Q4 24 | $-98.5M | $424.0K | ||
| Q3 24 | $-2.8M | $143.0K | ||
| Q2 24 | $-126.7M | $898.0K | ||
| Q1 24 | $54.6M | $1.1M |
| Q4 25 | — | -6.4% | ||
| Q3 25 | — | 6.2% | ||
| Q2 25 | — | 5.9% | ||
| Q1 25 | 0.3% | 5.6% | ||
| Q4 24 | -201.8% | 1.2% | ||
| Q3 24 | -12.1% | 0.4% | ||
| Q2 24 | -490.5% | 2.4% | ||
| Q1 24 | 224.4% | 2.9% |
| Q4 25 | — | 3.3% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | 1.7% | 4.2% | ||
| Q4 24 | 304.4% | 1.5% | ||
| Q3 24 | 9.6% | 0.4% | ||
| Q2 24 | 553.0% | 1.3% | ||
| Q1 24 | 1.1% | 2.8% |
| 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% |
ONTF
Segment breakdown not available.
