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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and Owlet, Inc. (OWLT). Click either name above to swap in a different company.
ACACIA RESEARCH CORP is the larger business by last-quarter revenue ($50.1M vs $26.6M, roughly 1.9× Owlet, Inc.). ACACIA RESEARCH CORP runs the higher net margin — 6.8% vs -34.6%, a 41.4% gap on every dollar of revenue. On growth, Owlet, Inc. posted the faster year-over-year revenue change (29.6% vs 2.6%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs 34.2%).
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.
Owlet, Inc. is a pediatric health technology firm that develops smart wearable monitoring products for infants, most notably its signature smart sock that tracks real-time heart rate, oxygen levels, and sleep metrics. It serves global consumer markets across North America, Europe, and Asia-Pacific, distributing products via direct-to-consumer e-commerce and partnered retail outlets, focused on supporting parental peace of mind and infant health safety.
ACTG vs OWLT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $26.6M |
| Net Profit | $3.4M | $-9.2M |
| Gross Margin | 12.8% | 47.6% |
| Operating Margin | -26.1% | -18.4% |
| Net Margin | 6.8% | -34.6% |
| Revenue YoY | 2.6% | 29.6% |
| Net Profit YoY | 125.5% | -1.5% |
| EPS (diluted) | $0.03 | — |
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 | $26.6M | ||
| Q3 25 | $59.4M | $32.0M | ||
| Q2 25 | $51.2M | $26.1M | ||
| Q1 25 | $124.4M | $21.1M | ||
| Q4 24 | $48.8M | $20.5M | ||
| Q3 24 | $23.3M | $22.1M | ||
| Q2 24 | $25.8M | $20.7M | ||
| Q1 24 | $24.3M | $14.8M |
| Q4 25 | $3.4M | $-9.2M | ||
| Q3 25 | $-2.7M | $4.1M | ||
| Q2 25 | $-3.3M | $-37.6M | ||
| Q1 25 | $24.3M | $3.0M | ||
| Q4 24 | $-13.4M | $-9.1M | ||
| Q3 24 | $-14.0M | $-5.6M | ||
| Q2 24 | $-8.4M | $-1.1M | ||
| Q1 24 | $-186.0K | $3.3M |
| Q4 25 | 12.8% | 47.6% | ||
| Q3 25 | 21.2% | 50.6% | ||
| Q2 25 | 12.8% | 51.3% | ||
| Q1 25 | 47.4% | 53.7% | ||
| Q4 24 | 17.6% | 53.5% | ||
| Q3 24 | 10.1% | 52.2% | ||
| Q2 24 | 26.2% | 49.5% | ||
| Q1 24 | 49.2% | 44.4% |
| Q4 25 | -26.1% | -18.4% | ||
| Q3 25 | -10.8% | 3.8% | ||
| Q2 25 | -24.2% | -7.4% | ||
| Q1 25 | 30.8% | -12.7% | ||
| Q4 24 | -32.4% | -36.2% | ||
| Q3 24 | -44.1% | -21.8% | ||
| Q2 24 | -18.4% | -10.8% | ||
| Q1 24 | -8.6% | -39.0% |
| Q4 25 | 6.8% | -34.6% | ||
| Q3 25 | -4.6% | 12.9% | ||
| Q2 25 | -6.4% | -144.4% | ||
| Q1 25 | 19.5% | 14.3% | ||
| Q4 24 | -27.5% | -44.2% | ||
| Q3 24 | -60.0% | -25.4% | ||
| Q2 24 | -32.7% | -5.5% | ||
| Q1 24 | -0.8% | 22.2% |
| Q4 25 | $0.03 | — | ||
| Q3 25 | $-0.03 | $-0.06 | ||
| Q2 25 | $-0.03 | $-2.37 | ||
| Q1 25 | $0.25 | $0.11 | ||
| Q4 24 | $-0.14 | $-0.15 | ||
| Q3 24 | $-0.14 | $-0.61 | ||
| Q2 24 | $-0.08 | $-0.30 | ||
| Q1 24 | $0.00 | $-0.51 |
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 | $35.5M |
| Total DebtLower is stronger | $91.9M | — |
| Stockholders' EquityBook value | $543.5M | $19.0M |
| Total Assets | $771.0M | $85.6M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $35.5M | ||
| Q3 25 | $301.8M | $23.8M | ||
| Q2 25 | $316.7M | $21.8M | ||
| Q1 25 | $272.0M | $16.3M | ||
| Q4 24 | $273.9M | $20.2M | ||
| Q3 24 | $410.9M | $21.6M | ||
| Q2 24 | $441.9M | $15.4M | ||
| Q1 24 | $498.4M | $18.4M |
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $2.1M | ||
| Q1 24 | — | $4.0M |
| Q4 25 | $543.5M | $19.0M | ||
| Q3 25 | $537.6M | $-54.1M | ||
| Q2 25 | $538.6M | $-59.2M | ||
| Q1 25 | $540.2M | $-25.8M | ||
| Q4 24 | $514.8M | $-29.8M | ||
| Q3 24 | $540.2M | $-21.5M | ||
| Q2 24 | $560.7M | $-33.4M | ||
| Q1 24 | $568.3M | $-32.9M |
| Q4 25 | $771.0M | $85.6M | ||
| Q3 25 | $768.9M | $74.9M | ||
| Q2 25 | $775.5M | $63.5M | ||
| Q1 25 | $801.6M | $51.4M | ||
| Q4 24 | $756.4M | $49.5M | ||
| Q3 24 | $707.6M | $56.1M | ||
| Q2 24 | $753.6M | $45.9M | ||
| Q1 24 | $631.7M | $43.8M |
| 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 | $-452.0K |
| Free Cash FlowOCF − Capex | — | $-651.0K |
| FCF MarginFCF / Revenue | — | -2.5% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | 22.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-11.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $-452.0K | ||
| Q3 25 | $9.5M | $-2.2M | ||
| Q2 25 | $50.1M | $-2.2M | ||
| Q1 25 | $2.4M | $-5.9M | ||
| Q4 24 | $50.1M | $3.0M | ||
| Q3 24 | $-593.0K | $-7.5M | ||
| Q2 24 | $16.1M | $-3.4M | ||
| Q1 24 | $54.8M | $-3.4M |
| Q4 25 | — | $-651.0K | ||
| Q3 25 | — | $-2.2M | ||
| Q2 25 | — | $-2.3M | ||
| Q1 25 | $335.0K | $-5.9M | ||
| Q4 24 | $-98.5M | $3.0M | ||
| Q3 24 | $-2.8M | $-7.5M | ||
| Q2 24 | $-126.7M | $-3.4M | ||
| Q1 24 | $54.6M | — |
| Q4 25 | — | -2.5% | ||
| Q3 25 | — | -6.8% | ||
| Q2 25 | — | -8.8% | ||
| Q1 25 | 0.3% | -28.1% | ||
| Q4 24 | -201.8% | 14.5% | ||
| Q3 24 | -12.1% | -33.9% | ||
| Q2 24 | -490.5% | -16.3% | ||
| Q1 24 | 224.4% | — |
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | 1.7% | 0.0% | ||
| Q4 24 | 304.4% | 0.2% | ||
| Q3 24 | 9.6% | 0.0% | ||
| Q2 24 | 553.0% | 0.0% | ||
| Q1 24 | 1.1% | 0.0% |
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | -0.52× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | -1.96× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -1.03× |
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% |
OWLT
| US | $22.7M | 85% |
| Non Us | $3.2M | 12% |
| Other | $651.0K | 2% |
