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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $50.1M, roughly 1.9× ACACIA RESEARCH CORP). Vericel Corp runs the higher net margin — 25.0% vs 6.8%, a 18.2% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 2.6%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs 34.6%).
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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
ACTG vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $92.9M |
| Net Profit | $3.4M | $23.2M |
| Gross Margin | 12.8% | 78.7% |
| Operating Margin | -26.1% | 24.1% |
| Net Margin | 6.8% | 25.0% |
| Revenue YoY | 2.6% | 23.3% |
| Net Profit YoY | 125.5% | 17.3% |
| EPS (diluted) | $0.03 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $59.4M | $67.5M | ||
| Q2 25 | $51.2M | $63.2M | ||
| Q1 25 | $124.4M | $52.6M | ||
| Q4 24 | $48.8M | $75.4M | ||
| Q3 24 | $23.3M | $57.9M | ||
| Q2 24 | $25.8M | $52.7M | ||
| Q1 24 | $24.3M | $51.3M |
| Q4 25 | $3.4M | $23.2M | ||
| Q3 25 | $-2.7M | $5.1M | ||
| Q2 25 | $-3.3M | $-553.0K | ||
| Q1 25 | $24.3M | $-11.2M | ||
| Q4 24 | $-13.4M | $19.8M | ||
| Q3 24 | $-14.0M | $-901.0K | ||
| Q2 24 | $-8.4M | $-4.7M | ||
| Q1 24 | $-186.0K | $-3.9M |
| Q4 25 | 12.8% | 78.7% | ||
| Q3 25 | 21.2% | 73.5% | ||
| Q2 25 | 12.8% | 73.7% | ||
| Q1 25 | 47.4% | 69.0% | ||
| Q4 24 | 17.6% | 77.6% | ||
| Q3 24 | 10.1% | 71.9% | ||
| Q2 24 | 26.2% | 69.5% | ||
| Q1 24 | 49.2% | 68.9% |
| Q4 25 | -26.1% | 24.1% | ||
| Q3 25 | -10.8% | 5.1% | ||
| Q2 25 | -24.2% | -3.2% | ||
| Q1 25 | 30.8% | -24.3% | ||
| Q4 24 | -32.4% | 24.5% | ||
| Q3 24 | -44.1% | -4.3% | ||
| Q2 24 | -18.4% | -11.5% | ||
| Q1 24 | -8.6% | -10.7% |
| Q4 25 | 6.8% | 25.0% | ||
| Q3 25 | -4.6% | 7.5% | ||
| Q2 25 | -6.4% | -0.9% | ||
| Q1 25 | 19.5% | -21.4% | ||
| Q4 24 | -27.5% | 26.3% | ||
| Q3 24 | -60.0% | -1.6% | ||
| Q2 24 | -32.7% | -8.9% | ||
| Q1 24 | -0.8% | -7.5% |
| Q4 25 | $0.03 | $0.46 | ||
| Q3 25 | $-0.03 | $0.10 | ||
| Q2 25 | $-0.03 | $-0.01 | ||
| Q1 25 | $0.25 | $-0.23 | ||
| Q4 24 | $-0.14 | $0.40 | ||
| Q3 24 | $-0.14 | $-0.02 | ||
| Q2 24 | $-0.08 | $-0.10 | ||
| Q1 24 | $0.00 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | $91.9M | — |
| Stockholders' EquityBook value | $543.5M | $354.6M |
| Total Assets | $771.0M | $488.0M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $137.5M | ||
| Q3 25 | $301.8M | $135.4M | ||
| Q2 25 | $316.7M | $116.9M | ||
| Q1 25 | $272.0M | $112.9M | ||
| Q4 24 | $273.9M | $116.2M | ||
| Q3 24 | $410.9M | $101.7M | ||
| Q2 24 | $441.9M | $102.5M | ||
| Q1 24 | $498.4M | $110.6M |
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $543.5M | $354.6M | ||
| Q3 25 | $537.6M | $321.9M | ||
| Q2 25 | $538.6M | $306.8M | ||
| Q1 25 | $540.2M | $295.5M | ||
| Q4 24 | $514.8M | $292.0M | ||
| Q3 24 | $540.2M | $257.5M | ||
| Q2 24 | $560.7M | $243.0M | ||
| Q1 24 | $568.3M | $233.9M |
| Q4 25 | $771.0M | $488.0M | ||
| Q3 25 | $768.9M | $453.3M | ||
| Q2 25 | $775.5M | $435.6M | ||
| Q1 25 | $801.6M | $424.6M | ||
| Q4 24 | $756.4M | $432.7M | ||
| Q3 24 | $707.6M | $390.4M | ||
| Q2 24 | $753.6M | $376.8M | ||
| Q1 24 | $631.7M | $356.7M |
| 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 | $15.0M |
| Free Cash FlowOCF − Capex | — | $12.8M |
| FCF MarginFCF / Revenue | — | 13.8% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | 22.01× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $15.0M | ||
| Q3 25 | $9.5M | $22.1M | ||
| Q2 25 | $50.1M | $8.2M | ||
| Q1 25 | $2.4M | $6.6M | ||
| Q4 24 | $50.1M | $22.2M | ||
| Q3 24 | $-593.0K | $10.2M | ||
| Q2 24 | $16.1M | $18.5M | ||
| Q1 24 | $54.8M | $7.2M |
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | $335.0K | $-7.6M | ||
| Q4 24 | $-98.5M | $8.5M | ||
| Q3 24 | $-2.8M | $-9.2M | ||
| Q2 24 | $-126.7M | $1.8M | ||
| Q1 24 | $54.6M | $-6.8M |
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | 0.3% | -14.5% | ||
| Q4 24 | -201.8% | 11.2% | ||
| Q3 24 | -12.1% | -15.9% | ||
| Q2 24 | -490.5% | 3.4% | ||
| Q1 24 | 224.4% | -13.3% |
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | 1.7% | 27.0% | ||
| Q4 24 | 304.4% | 18.3% | ||
| Q3 24 | 9.6% | 33.5% | ||
| Q2 24 | 553.0% | 31.8% | ||
| Q1 24 | 1.1% | 27.3% |
| Q4 25 | 22.01× | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | 1.12× | ||
| 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% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
