vs
Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and TELOS CORP (TLS). Click either name above to swap in a different company.
ACACIA RESEARCH CORP is the larger business by last-quarter revenue ($50.1M vs $46.8M, roughly 1.1× TELOS CORP). ACACIA RESEARCH CORP runs the higher net margin — 6.8% vs -34.9%, a 41.7% gap on every dollar of revenue. On growth, TELOS CORP posted the faster year-over-year revenue change (77.4% vs 2.6%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs 25.7%).
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.
Telos Corporation is an information technology and cybersecurity company located in Ashburn, Virginia. Telos primarily serves government and enterprise clients, receiving a large number of its contracts from the United States Department of Defense. Customers are primarily military, intelligence and civilian agencies of the US government and NATO allies.
ACTG vs TLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $46.8M |
| Net Profit | $3.4M | $-16.3M |
| Gross Margin | 12.8% | 35.0% |
| Operating Margin | -26.1% | -39.6% |
| Net Margin | 6.8% | -34.9% |
| Revenue YoY | 2.6% | 77.4% |
| Net Profit YoY | 125.5% | -74.8% |
| EPS (diluted) | $0.03 | $-0.22 |
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 | $46.8M | ||
| Q3 25 | $59.4M | $51.4M | ||
| Q2 25 | $51.2M | $36.0M | ||
| Q1 25 | $124.4M | $30.6M | ||
| Q4 24 | $48.8M | $26.4M | ||
| Q3 24 | $23.3M | $23.8M | ||
| Q2 24 | $25.8M | $28.5M | ||
| Q1 24 | $24.3M | $29.6M |
| Q4 25 | $3.4M | $-16.3M | ||
| Q3 25 | $-2.7M | $-2.1M | ||
| Q2 25 | $-3.3M | $-9.5M | ||
| Q1 25 | $24.3M | $-8.6M | ||
| Q4 24 | $-13.4M | $-9.3M | ||
| Q3 24 | $-14.0M | $-28.1M | ||
| Q2 24 | $-8.4M | $-7.8M | ||
| Q1 24 | $-186.0K | $-7.4M |
| Q4 25 | 12.8% | 35.0% | ||
| Q3 25 | 21.2% | 39.9% | ||
| Q2 25 | 12.8% | 33.2% | ||
| Q1 25 | 47.4% | 39.8% | ||
| Q4 24 | 17.6% | 40.3% | ||
| Q3 24 | 10.1% | 13.2% | ||
| Q2 24 | 26.2% | 34.1% | ||
| Q1 24 | 49.2% | 37.0% |
| Q4 25 | -26.1% | -39.6% | ||
| Q3 25 | -10.8% | -4.8% | ||
| Q2 25 | -24.2% | -27.5% | ||
| Q1 25 | 30.8% | -29.5% | ||
| Q4 24 | -32.4% | -37.6% | ||
| Q3 24 | -44.1% | -121.4% | ||
| Q2 24 | -18.4% | -30.3% | ||
| Q1 24 | -8.6% | -28.5% |
| Q4 25 | 6.8% | -34.9% | ||
| Q3 25 | -4.6% | -4.1% | ||
| Q2 25 | -6.4% | -26.5% | ||
| Q1 25 | 19.5% | -28.1% | ||
| Q4 24 | -27.5% | -35.4% | ||
| Q3 24 | -60.0% | -118.0% | ||
| Q2 24 | -32.7% | -27.2% | ||
| Q1 24 | -0.8% | -24.9% |
| Q4 25 | $0.03 | $-0.22 | ||
| Q3 25 | $-0.03 | $-0.03 | ||
| Q2 25 | $-0.03 | $-0.13 | ||
| Q1 25 | $0.25 | $-0.12 | ||
| Q4 24 | $-0.14 | $-0.13 | ||
| Q3 24 | $-0.14 | $-0.39 | ||
| Q2 24 | $-0.08 | $-0.11 | ||
| Q1 24 | $0.00 | $-0.10 |
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 | $53.2M |
| Total DebtLower is stronger | $91.9M | — |
| Stockholders' EquityBook value | $543.5M | $96.0M |
| Total Assets | $771.0M | $139.9M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $53.2M | ||
| Q3 25 | $301.8M | $59.0M | ||
| Q2 25 | $316.7M | $57.0M | ||
| Q1 25 | $272.0M | $57.8M | ||
| Q4 24 | $273.9M | $54.6M | ||
| Q3 24 | $410.9M | $69.8M | ||
| Q2 24 | $441.9M | $80.1M | ||
| Q1 24 | $498.4M | $93.9M |
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $543.5M | $96.0M | ||
| Q3 25 | $537.6M | $119.7M | ||
| Q2 25 | $538.6M | $118.4M | ||
| Q1 25 | $540.2M | $126.1M | ||
| Q4 24 | $514.8M | $127.1M | ||
| Q3 24 | $540.2M | $129.5M | ||
| Q2 24 | $560.7M | $149.1M | ||
| Q1 24 | $568.3M | $154.4M |
| Q4 25 | $771.0M | $139.9M | ||
| Q3 25 | $768.9M | $164.3M | ||
| Q2 25 | $775.5M | $165.0M | ||
| Q1 25 | $801.6M | $158.1M | ||
| Q4 24 | $756.4M | $158.2M | ||
| Q3 24 | $707.6M | $166.3M | ||
| Q2 24 | $753.6M | $182.4M | ||
| Q1 24 | $631.7M | $195.4M |
| 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 | $8.0M |
| Free Cash FlowOCF − Capex | — | $8.0M |
| FCF MarginFCF / Revenue | — | 17.0% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 22.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $29.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $8.0M | ||
| Q3 25 | $9.5M | $9.1M | ||
| Q2 25 | $50.1M | $7.0M | ||
| Q1 25 | $2.4M | $6.1M | ||
| Q4 24 | $50.1M | $-10.5M | ||
| Q3 24 | $-593.0K | $-7.1M | ||
| Q2 24 | $16.1M | $-8.0M | ||
| Q1 24 | $54.8M | $-350.0K |
| Q4 25 | — | $8.0M | ||
| Q3 25 | — | $8.7M | ||
| Q2 25 | — | $6.8M | ||
| Q1 25 | $335.0K | $6.0M | ||
| Q4 24 | $-98.5M | $-12.4M | ||
| Q3 24 | $-2.8M | $-7.1M | ||
| Q2 24 | $-126.7M | $-8.2M | ||
| Q1 24 | $54.6M | $-447.0K |
| Q4 25 | — | 17.0% | ||
| Q3 25 | — | 16.9% | ||
| Q2 25 | — | 19.0% | ||
| Q1 25 | 0.3% | 19.5% | ||
| Q4 24 | -201.8% | -47.0% | ||
| Q3 24 | -12.1% | -30.0% | ||
| Q2 24 | -490.5% | -28.9% | ||
| Q1 24 | 224.4% | -1.5% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | 1.7% | 0.4% | ||
| Q4 24 | 304.4% | 7.1% | ||
| Q3 24 | 9.6% | 0.2% | ||
| Q2 24 | 553.0% | 0.8% | ||
| Q1 24 | 1.1% | 0.3% |
| 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% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
