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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and PubMatic, Inc. (PUBM). Click either name above to swap in a different company.
PubMatic, Inc. is the larger business by last-quarter revenue ($80.0M vs $50.1M, roughly 1.6× ACACIA RESEARCH CORP). On growth, ACACIA RESEARCH CORP posted the faster year-over-year revenue change (2.6% vs -6.4%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs 9.5%).
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.
PubMatic, Inc. develops and implements online advertising software and strategies for the digital publishing and advertising industry. PubMatic's sell-side, real-time programmatic ad transaction advertising software puts publishers of websites, videos, and mobile apps into contact with ad buyers by using automated systems, while allowing users to opt-out of having their personal information collected on internet searches. PubMatic has a number of offices in countries around the world.
ACTG vs PUBM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $80.0M |
| Net Profit | $3.4M | — |
| Gross Margin | 12.8% | 68.2% |
| Operating Margin | -26.1% | 10.6% |
| Net Margin | 6.8% | — |
| Revenue YoY | 2.6% | -6.4% |
| Net Profit YoY | 125.5% | — |
| EPS (diluted) | $0.03 | $0.14 |
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 | $80.0M | ||
| Q3 25 | $59.4M | $68.0M | ||
| Q2 25 | $51.2M | $71.1M | ||
| Q1 25 | $124.4M | $63.8M | ||
| Q4 24 | $48.8M | $85.5M | ||
| Q3 24 | $23.3M | $71.8M | ||
| Q2 24 | $25.8M | $67.3M | ||
| Q1 24 | $24.3M | $66.7M |
| Q4 25 | $3.4M | — | ||
| Q3 25 | $-2.7M | $-6.5M | ||
| Q2 25 | $-3.3M | $-5.2M | ||
| Q1 25 | $24.3M | $-9.5M | ||
| Q4 24 | $-13.4M | — | ||
| Q3 24 | $-14.0M | $-912.0K | ||
| Q2 24 | $-8.4M | $2.0M | ||
| Q1 24 | $-186.0K | $-2.5M |
| Q4 25 | 12.8% | 68.2% | ||
| Q3 25 | 21.2% | 62.6% | ||
| Q2 25 | 12.8% | 62.6% | ||
| Q1 25 | 47.4% | 59.9% | ||
| Q4 24 | 17.6% | 70.8% | ||
| Q3 24 | 10.1% | 64.5% | ||
| Q2 24 | 26.2% | 62.6% | ||
| Q1 24 | 49.2% | 61.9% |
| Q4 25 | -26.1% | 10.6% | ||
| Q3 25 | -10.8% | -12.4% | ||
| Q2 25 | -24.2% | -7.7% | ||
| Q1 25 | 30.8% | -18.6% | ||
| Q4 24 | -32.4% | 17.3% | ||
| Q3 24 | -44.1% | -1.9% | ||
| Q2 24 | -18.4% | -5.9% | ||
| Q1 24 | -8.6% | -8.3% |
| Q4 25 | 6.8% | — | ||
| Q3 25 | -4.6% | -9.5% | ||
| Q2 25 | -6.4% | -7.3% | ||
| Q1 25 | 19.5% | -14.9% | ||
| Q4 24 | -27.5% | — | ||
| Q3 24 | -60.0% | -1.3% | ||
| Q2 24 | -32.7% | 2.9% | ||
| Q1 24 | -0.8% | -3.7% |
| Q4 25 | $0.03 | $0.14 | ||
| Q3 25 | $-0.03 | $-0.14 | ||
| Q2 25 | $-0.03 | $-0.11 | ||
| Q1 25 | $0.25 | $-0.20 | ||
| Q4 24 | $-0.14 | $0.26 | ||
| Q3 24 | $-0.14 | $-0.02 | ||
| Q2 24 | $-0.08 | $0.04 | ||
| Q1 24 | $0.00 | $-0.05 |
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 | — |
| Stockholders' EquityBook value | $543.5M | $262.6M |
| Total Assets | $771.0M | $680.2M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $145.5M | ||
| Q3 25 | $301.8M | $136.5M | ||
| Q2 25 | $316.7M | $90.5M | ||
| Q1 25 | $272.0M | $101.8M | ||
| Q4 24 | $273.9M | $100.5M | ||
| Q3 24 | $410.9M | $78.9M | ||
| Q2 24 | $441.9M | $73.5M | ||
| Q1 24 | $498.4M | $80.2M |
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $543.5M | $262.6M | ||
| Q3 25 | $537.6M | $245.1M | ||
| Q2 25 | $538.6M | $243.3M | ||
| Q1 25 | $540.2M | $275.6M | ||
| Q4 24 | $514.8M | $277.3M | ||
| Q3 24 | $540.2M | $263.2M | ||
| Q2 24 | $560.7M | $282.7M | ||
| Q1 24 | $568.3M | $288.7M |
| Q4 25 | $771.0M | $680.2M | ||
| Q3 25 | $768.9M | $676.2M | ||
| Q2 25 | $775.5M | $675.2M | ||
| Q1 25 | $801.6M | $668.6M | ||
| Q4 24 | $756.4M | $739.5M | ||
| Q3 24 | $707.6M | $689.1M | ||
| Q2 24 | $753.6M | $673.1M | ||
| Q1 24 | $631.7M | $626.2M |
| 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 | $18.2M |
| Free Cash FlowOCF − Capex | — | $11.3M |
| FCF MarginFCF / Revenue | — | 14.1% |
| Capex IntensityCapex / Revenue | — | 8.6% |
| Cash ConversionOCF / Net Profit | 22.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $66.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $18.2M | ||
| Q3 25 | $9.5M | $32.4M | ||
| Q2 25 | $50.1M | $14.9M | ||
| Q1 25 | $2.4M | $15.6M | ||
| Q4 24 | $50.1M | $18.0M | ||
| Q3 24 | $-593.0K | $19.1M | ||
| Q2 24 | $16.1M | $11.9M | ||
| Q1 24 | $54.8M | $24.3M |
| Q4 25 | — | $11.3M | ||
| Q3 25 | — | $27.7M | ||
| Q2 25 | — | $13.6M | ||
| Q1 25 | $335.0K | $14.2M | ||
| Q4 24 | $-98.5M | $13.7M | ||
| Q3 24 | $-2.8M | $7.4M | ||
| Q2 24 | $-126.7M | $11.2M | ||
| Q1 24 | $54.6M | $23.5M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 40.8% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | 0.3% | 22.2% | ||
| Q4 24 | -201.8% | 16.1% | ||
| Q3 24 | -12.1% | 10.3% | ||
| Q2 24 | -490.5% | 16.7% | ||
| Q1 24 | 224.4% | 35.2% |
| Q4 25 | — | 8.6% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | 1.7% | 2.3% | ||
| Q4 24 | 304.4% | 5.1% | ||
| Q3 24 | 9.6% | 16.3% | ||
| Q2 24 | 553.0% | 1.1% | ||
| Q1 24 | 1.1% | 1.2% |
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 6.06× | ||
| 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% |
PUBM
Segment breakdown not available.
