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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and Sezzle Inc. (SEZL). Click either name above to swap in a different company.
Sezzle Inc. is the larger business by last-quarter revenue ($78.2M vs $50.1M, roughly 1.6× ACACIA RESEARCH CORP). Sezzle Inc. runs the higher net margin — 54.6% vs 6.8%, a 47.8% gap on every dollar of revenue. On growth, Sezzle Inc. posted the faster year-over-year revenue change (61.6% vs 2.6%). Over the past eight quarters, Sezzle Inc.'s revenue compounded faster (76.0% CAGR vs 43.6%).
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.
Sezzle is a publicly traded financial technology company headquartered in Minneapolis, U.S, with operations in the United States and Canada. The company provides an alternative payment platform offering interest-free installment plans at selected online stores. As of June 2021, the Sezzle platform had over 10 million user sign-ups and over 48,000 participating merchants.
ACTG vs SEZL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $78.2M |
| Net Profit | $3.4M | $42.7M |
| Gross Margin | 12.8% | — |
| Operating Margin | -26.1% | 70.6% |
| Net Margin | 6.8% | 54.6% |
| Revenue YoY | 2.6% | 61.6% |
| Net Profit YoY | 125.5% | 68.3% |
| EPS (diluted) | $0.03 | $1.19 |
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 | $78.2M | ||
| Q3 25 | $59.4M | $57.5M | ||
| Q2 25 | $51.2M | $52.0M | ||
| Q1 25 | $124.4M | $48.2M | ||
| Q4 24 | $48.8M | $48.4M | ||
| Q3 24 | $23.3M | $35.6M | ||
| Q2 24 | $25.8M | $30.2M | ||
| Q1 24 | $24.3M | $25.2M |
| Q4 25 | $3.4M | $42.7M | ||
| Q3 25 | $-2.7M | $26.7M | ||
| Q2 25 | $-3.3M | $27.6M | ||
| Q1 25 | $24.3M | $36.2M | ||
| Q4 24 | $-13.4M | $25.4M | ||
| Q3 24 | $-14.0M | $15.4M | ||
| Q2 24 | $-8.4M | $29.7M | ||
| Q1 24 | $-186.0K | $8.0M |
| 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% | 70.6% | ||
| Q3 25 | -10.8% | 61.9% | ||
| Q2 25 | -24.2% | 69.4% | ||
| Q1 25 | 30.8% | — | ||
| Q4 24 | -32.4% | 63.8% | ||
| Q3 24 | -44.1% | 58.6% | ||
| Q2 24 | -18.4% | 55.3% | ||
| Q1 24 | -8.6% | 54.8% |
| Q4 25 | 6.8% | 54.6% | ||
| Q3 25 | -4.6% | 46.4% | ||
| Q2 25 | -6.4% | 53.1% | ||
| Q1 25 | 19.5% | 75.1% | ||
| Q4 24 | -27.5% | 52.4% | ||
| Q3 24 | -60.0% | 43.4% | ||
| Q2 24 | -32.7% | 98.4% | ||
| Q1 24 | -0.8% | 31.7% |
| Q4 25 | $0.03 | $1.19 | ||
| Q3 25 | $-0.03 | $0.75 | ||
| Q2 25 | $-0.03 | $0.78 | ||
| Q1 25 | $0.25 | $1.00 | ||
| Q4 24 | $-0.14 | $0.71 | ||
| Q3 24 | $-0.14 | $0.44 | ||
| Q2 24 | $-0.08 | $0.82 | ||
| Q1 24 | $0.00 | $0.22 |
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 | $64.1M |
| Total DebtLower is stronger | $91.9M | — |
| Stockholders' EquityBook value | $543.5M | $169.8M |
| Total Assets | $771.0M | $400.2M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $64.1M | ||
| Q3 25 | $301.8M | $104.1M | ||
| Q2 25 | $316.7M | $88.9M | ||
| Q1 25 | $272.0M | $88.9M | ||
| Q4 24 | $273.9M | $73.2M | ||
| Q3 24 | $410.9M | $80.1M | ||
| Q2 24 | $441.9M | $58.0M | ||
| Q1 24 | $498.4M | $77.8M |
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $543.5M | $169.8M | ||
| Q3 25 | $537.6M | $155.3M | ||
| Q2 25 | $538.6M | $130.4M | ||
| Q1 25 | $540.2M | $125.8M | ||
| Q4 24 | $514.8M | $87.8M | ||
| Q3 24 | $540.2M | $61.1M | ||
| Q2 24 | $560.7M | $50.3M | ||
| Q1 24 | $568.3M | $29.6M |
| Q4 25 | $771.0M | $400.2M | ||
| Q3 25 | $768.9M | $367.0M | ||
| Q2 25 | $775.5M | $350.6M | ||
| Q1 25 | $801.6M | $298.1M | ||
| Q4 24 | $756.4M | $298.4M | ||
| Q3 24 | $707.6M | $252.9M | ||
| Q2 24 | $753.6M | $212.1M | ||
| Q1 24 | $631.7M | $195.7M |
| 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 | $70.6M |
| Free Cash FlowOCF − Capex | — | $70.6M |
| FCF MarginFCF / Revenue | — | 90.2% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 22.01× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $209.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $70.6M | ||
| Q3 25 | $9.5M | $63.7M | ||
| Q2 25 | $50.1M | $23.1M | ||
| Q1 25 | $2.4M | $52.5M | ||
| Q4 24 | $50.1M | $57.4M | ||
| Q3 24 | $-593.0K | $35.1M | ||
| Q2 24 | $16.1M | $22.2M | ||
| Q1 24 | $54.8M | $16.0M |
| Q4 25 | — | $70.6M | ||
| Q3 25 | — | $63.6M | ||
| Q2 25 | — | $22.7M | ||
| Q1 25 | $335.0K | $52.5M | ||
| Q4 24 | $-98.5M | $57.4M | ||
| Q3 24 | $-2.8M | $35.1M | ||
| Q2 24 | $-126.7M | $22.2M | ||
| Q1 24 | $54.6M | $16.0M |
| Q4 25 | — | 90.2% | ||
| Q3 25 | — | 110.6% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | 0.3% | 108.9% | ||
| Q4 24 | -201.8% | 118.5% | ||
| Q3 24 | -12.1% | 98.6% | ||
| Q2 24 | -490.5% | 73.4% | ||
| Q1 24 | 224.4% | 63.3% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | 1.7% | 0.1% | ||
| Q4 24 | 304.4% | 0.1% | ||
| Q3 24 | 9.6% | 0.0% | ||
| Q2 24 | 553.0% | 0.1% | ||
| Q1 24 | 1.1% | 0.0% |
| Q4 25 | 22.01× | 1.65× | ||
| Q3 25 | — | 2.39× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | 0.10× | 1.45× | ||
| Q4 24 | — | 2.26× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | — | 0.75× | ||
| Q1 24 | — | 2.00× |
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% |
SEZL
| Merchant And Partner Income | $28.9M | 37% |
| Transaction Income | $25.9M | 33% |
| Income From Other Services Late Payment Fees | $20.5M | 26% |
| Other | $2.9M | 4% |
