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Acacia Research vs Research Frontiers: revenue, profit, margins and growth compared

Acacia Research brought in $285.2M of revenue in fiscal 2025, Research Frontiers $1.1M in fiscal 2025. Revenue changed by +133.2% at Acacia Research and -16.0% at Research Frontiers on the year before, so Acacia Research grew faster. Acacia Research kept 7.6% of its revenue as net profit, Research Frontiers -182.4%.

Side by side, latest fiscal year

ACTGREFR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$285.2M$1.1M
Revenue growth+133.2%-16.0%
Net income$21.7M-$2M
Net margin7.6%-182.4%
Free cash flown/a-$1.3M
Free cash flow marginn/a-118.6%
Earnings per share (diluted)$0.22-$0.06
Cash$306.7M$664.3K
Debt$91.9Mn/a
Price to earnings19.4n/a
Market value$416.7M$27.6M
Dividend yieldn/an/a
Rank by revenue in sector#18 of 49 · Other#45 of 49 · Other

Over the years

Revenue
ACTG FY2018: $131.5MACTG FY2019: $11.2MACTG FY2020: $29.8MACTG FY2021: $88MACTG FY2022: $59.2MACTG FY2023: $125.1MACTG FY2024: $122.3MACTG FY2025: $285.2MREFR FY2018: $1.5MREFR FY2019: $1.6MREFR FY2020: $828.5KREFR FY2021: $1.3MREFR FY2022: $539.7KREFR FY2023: $909.6KREFR FY2024: $1.3MREFR FY2025: $1.1MFY18FY19FY20FY21FY22FY23FY24FY25
ACTG $285.2MREFR $1.1M
Net income
ACTG FY2018: -$105MACTG FY2019: -$17.1MACTG FY2020: $109.2MACTG FY2021: $149.2MACTG FY2022: -$125.1MACTG FY2023: $67.1MACTG FY2024: -$36.1MACTG FY2025: $21.7MREFR FY2018: -$2.7MREFR FY2019: -$3.8MREFR FY2020: -$2.3MREFR FY2021: -$1.8MREFR FY2022: -$2.7MREFR FY2023: -$1.9MREFR FY2024: -$1.3MREFR FY2025: -$2MFY18FY19FY20FY21FY22FY23FY24FY25
ACTG $21.7MREFR -$2M
Net margin
ACTG FY2018: -79.9%ACTG FY2019: -152.2%ACTG FY2020: 366.8%ACTG FY2021: 169.5%ACTG FY2022: -211.2%ACTG FY2023: 53.6%ACTG FY2024: -29.5%ACTG FY2025: 7.6%REFR FY2018: -180.4%REFR FY2019: -243.5%REFR FY2020: -282.6%REFR FY2021: -146.2%REFR FY2022: -494.6%REFR FY2023: -209.8%REFR FY2024: -98.2%REFR FY2025: -182.4%FY18FY19FY20FY21FY22FY23FY24FY25
ACTG 7.6%REFR -182.4%
Revenue growth
ACTG FY2019: -91.4%ACTG FY2020: +164.8%ACTG FY2021: +195.6%ACTG FY2022: -32.7%ACTG FY2023: +111.2%ACTG FY2024: -2.2%ACTG FY2025: +133.2%REFR FY2019: +5.1%REFR FY2020: -47.0%REFR FY2021: +52.5%REFR FY2022: -57.3%REFR FY2023: +68.5%REFR FY2024: +46.8%REFR FY2025: -16.0%FY19FY20FY21FY22FY23FY24FY25
ACTG +133.2%REFR -16.0%
Free cash flow
ACTG FY2018: $20.8MACTG FY2019: -$2.5MACTG FY2020: -$19.8MACTG FY2021: $13.2MACTG FY2022: -$38.1MACTG FY2023: -$22.7MACTG FY2024: -$98.5MREFR FY2018: -$2.1MREFR FY2019: -$2.1MREFR FY2020: -$2.3MREFR FY2021: -$1.8MREFR FY2022: -$2.2MREFR FY2023: -$2.3MREFR FY2024: -$790.4KREFR FY2025: -$1.3MFY18FY19FY20FY21FY22FY23FY24FY25
ACTG -$98.5MREFR -$1.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about Acacia Research and Research Frontiers

Which is bigger by revenue, Acacia Research or Research Frontiers?

Acacia Research is bigger by revenue: $285.2M in fiscal 2025, against $1.1M for Research Frontiers in fiscal 2025.

Which keeps more of its revenue as profit, Acacia Research or Research Frontiers?

Acacia Research had a net margin of 7.6% in fiscal 2025; Research Frontiers had -182.4% in fiscal 2025.

Which grew revenue faster, Acacia Research or Research Frontiers?

In their latest fiscal years revenue changed by +133.2% at Acacia Research and -16.0% at Research Frontiers.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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