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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
ACACIA RESEARCH CORP is the larger business by last-quarter revenue ($50.1M vs $33.9M, roughly 1.5× Spok Holdings, Inc). Spok Holdings, Inc runs the higher net margin — 8.7% vs 6.8%, a 1.8% gap on every dollar of revenue. On growth, ACACIA RESEARCH CORP posted the faster year-over-year revenue change (2.6% vs -0.1%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs -1.5%).
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.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
ACTG vs SPOK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $33.9M |
| Net Profit | $3.4M | $2.9M |
| Gross Margin | 12.8% | 76.7% |
| Operating Margin | -26.1% | 11.6% |
| Net Margin | 6.8% | 8.7% |
| Revenue YoY | 2.6% | -0.1% |
| Net Profit YoY | 125.5% | -19.6% |
| EPS (diluted) | $0.03 | $0.13 |
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 | $33.9M | ||
| Q3 25 | $59.4M | $33.9M | ||
| Q2 25 | $51.2M | $35.7M | ||
| Q1 25 | $124.4M | $36.3M | ||
| Q4 24 | $48.8M | $33.9M | ||
| Q3 24 | $23.3M | $34.9M | ||
| Q2 24 | $25.8M | $34.0M | ||
| Q1 24 | $24.3M | $34.9M |
| Q4 25 | $3.4M | $2.9M | ||
| Q3 25 | $-2.7M | $3.2M | ||
| Q2 25 | $-3.3M | $4.6M | ||
| Q1 25 | $24.3M | $5.2M | ||
| Q4 24 | $-13.4M | $3.6M | ||
| Q3 24 | $-14.0M | $3.7M | ||
| Q2 24 | $-8.4M | $3.4M | ||
| Q1 24 | $-186.0K | $4.2M |
| Q4 25 | 12.8% | 76.7% | ||
| Q3 25 | 21.2% | 78.3% | ||
| Q2 25 | 12.8% | 79.5% | ||
| Q1 25 | 47.4% | 80.1% | ||
| Q4 24 | 17.6% | 78.5% | ||
| Q3 24 | 10.1% | 79.5% | ||
| Q2 24 | 26.2% | 78.9% | ||
| Q1 24 | 49.2% | 79.5% |
| Q4 25 | -26.1% | 11.6% | ||
| Q3 25 | -10.8% | 12.9% | ||
| Q2 25 | -24.2% | 15.1% | ||
| Q1 25 | 30.8% | 16.6% | ||
| Q4 24 | -32.4% | 13.7% | ||
| Q3 24 | -44.1% | 14.2% | ||
| Q2 24 | -18.4% | 13.2% | ||
| Q1 24 | -8.6% | 14.0% |
| Q4 25 | 6.8% | 8.7% | ||
| Q3 25 | -4.6% | 9.5% | ||
| Q2 25 | -6.4% | 12.8% | ||
| Q1 25 | 19.5% | 14.3% | ||
| Q4 24 | -27.5% | 10.8% | ||
| Q3 24 | -60.0% | 10.5% | ||
| Q2 24 | -32.7% | 10.1% | ||
| Q1 24 | -0.8% | 12.1% |
| Q4 25 | $0.03 | $0.13 | ||
| Q3 25 | $-0.03 | $0.15 | ||
| Q2 25 | $-0.03 | $0.22 | ||
| Q1 25 | $0.25 | $0.25 | ||
| Q4 24 | $-0.14 | $0.17 | ||
| Q3 24 | $-0.14 | $0.18 | ||
| Q2 24 | $-0.08 | $0.17 | ||
| Q1 24 | $0.00 | $0.21 |
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 | $25.3M |
| Total DebtLower is stronger | $91.9M | — |
| Stockholders' EquityBook value | $543.5M | $146.4M |
| Total Assets | $771.0M | $206.1M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $25.3M | ||
| Q3 25 | $301.8M | $21.4M | ||
| Q2 25 | $316.7M | $20.2M | ||
| Q1 25 | $272.0M | $19.9M | ||
| Q4 24 | $273.9M | $29.1M | ||
| Q3 24 | $410.9M | $27.8M | ||
| Q2 24 | $441.9M | $23.9M | ||
| Q1 24 | $498.4M | $23.3M |
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $543.5M | $146.4M | ||
| Q3 25 | $537.6M | $148.7M | ||
| Q2 25 | $538.6M | $150.9M | ||
| Q1 25 | $540.2M | $151.7M | ||
| Q4 24 | $514.8M | $154.7M | ||
| Q3 24 | $540.2M | $156.3M | ||
| Q2 24 | $560.7M | $158.2M | ||
| Q1 24 | $568.3M | $160.2M |
| Q4 25 | $771.0M | $206.1M | ||
| Q3 25 | $768.9M | $209.7M | ||
| Q2 25 | $775.5M | $208.7M | ||
| Q1 25 | $801.6M | $204.5M | ||
| Q4 24 | $756.4M | $217.1M | ||
| Q3 24 | $707.6M | $216.8M | ||
| Q2 24 | $753.6M | $216.4M | ||
| Q1 24 | $631.7M | $215.0M |
| 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 | $11.5M |
| Free Cash FlowOCF − Capex | — | $10.1M |
| FCF MarginFCF / Revenue | — | 29.9% |
| Capex IntensityCapex / Revenue | — | 4.1% |
| Cash ConversionOCF / Net Profit | 22.01× | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $11.5M | ||
| Q3 25 | $9.5M | $8.1M | ||
| Q2 25 | $50.1M | $7.0M | ||
| Q1 25 | $2.4M | $2.3M | ||
| Q4 24 | $50.1M | $8.4M | ||
| Q3 24 | $-593.0K | $11.1M | ||
| Q2 24 | $16.1M | $7.4M | ||
| Q1 24 | $54.8M | $2.0M |
| Q4 25 | — | $10.1M | ||
| Q3 25 | — | $7.6M | ||
| Q2 25 | — | $6.0M | ||
| Q1 25 | $335.0K | $1.5M | ||
| Q4 24 | $-98.5M | $7.5M | ||
| Q3 24 | $-2.8M | $10.3M | ||
| Q2 24 | $-126.7M | $6.8M | ||
| Q1 24 | $54.6M | $1.1M |
| Q4 25 | — | 29.9% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | 0.3% | 4.2% | ||
| Q4 24 | -201.8% | 22.3% | ||
| Q3 24 | -12.1% | 29.4% | ||
| Q2 24 | -490.5% | 20.0% | ||
| Q1 24 | 224.4% | 3.2% |
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | 1.7% | 2.1% | ||
| Q4 24 | 304.4% | 2.5% | ||
| Q3 24 | 9.6% | 2.4% | ||
| Q2 24 | 553.0% | 1.9% | ||
| Q1 24 | 1.1% | 2.5% |
| Q4 25 | 22.01× | 3.93× | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | — | 1.55× | ||
| Q1 25 | 0.10× | 0.43× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 3.03× | ||
| Q2 24 | — | 2.17× | ||
| Q1 24 | — | 0.47× |
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% |
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
