SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2025

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The Company’s reportable segment information is as follows:


	Years Ended December 31,
	2025										2024
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufactur- ing Operations		Total		Intellectual Property Operations		Industrial Operations		Energy Operations		Manufactur- ing Operations		Total
	(In thousands)
Revenues:
License fees	$	78,355	$	—	$	—	$	—	$	78,355	$	19,525	$	—	$	—	$	—	$	19,525
Revenues - industrial operations	—		28,267		—		—		28,267		—		30,421		—		—		30,421
Oil sales	—		—		28,524		—		28,524		—		—		26,468		—		26,468
Natural gas sales	—		—		18,186		—		18,186		—		—		9,194		—		9,194
Natural gas liquids sales	—		—		15,086		—		15,086		—		—		13,014		—		13,014
Other service sales	—		—		2,022		—		2,022		—		—		507		—		507
Air distribution	—		—		—		37,586		37,586		—		—		—		7,782		7,782
Transportation safety	—		—		—		42,568		42,568		—		—		—		7,977		7,977
Office products	—		—		—		34,638		34,638		—		—		—		7,424		7,424
Total revenues	78,355		28,267		63,818		114,792		285,232		19,525		30,421		49,183		23,183		122,312

Cost of revenues:





Cost of sales - intellectual property operations	50,013		—		—		—		50,013		24,551		—		—		—		24,551
Cost of sales - industrial operations	—		14,475		—		—		14,475		—		14,912		—		—		14,912
Cost of sales - manufacturing operations	—		—		—		86,949		86,949		—		—		—		16,904		16,904
Cost of production - energy	—		—		49,315		—		49,315		—		—		36,291		—		36,291
Total cost of revenues	50,013		14,475		49,315		86,949		200,752		24,551		14,912		36,291		16,904		92,658
Segment gross profit	28,342		13,792		14,503		27,843		84,480		(5,026)		15,509		12,892		6,279		29,654

Other operating expenses:



General and administrative expenses and sales and marketing expenses	8,985		12,597		4,320		27,497		53,399		8,826		13,705		3,427		6,303		32,261

Segment operating income (loss)	$	19,357	$	1,195	$	10,183	$	346	31,081		$	(13,852)	$	1,804	$	9,465	$	(24)	(2,607)

Parent general and administrative expenses									24,672										30,319
Operating income (loss)									6,409										(32,926)
Total other income (expense)									24,902										(5,221)
Income (loss) before income taxes									$	31,311									$	(38,147)

Schedule of Segment Reporting Information, by Segment


	December 31,
	2025		2024
	(In thousands)







Total parent assets	$	117,617	$	150,033

Segment total assets:
Intellectual property operations	258,335		213,854
Industrial operations	50,866		48,438
Energy operations	216,806		209,355
Manufacturing operations	127,332		134,714
Total assets	$	770,956	$	756,394

Revenue from External Customers by Geographic Areas


	Years Ended December 31,
	2025										2024
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufactur- ing Operations		Total		Intellectual Property Operations		Industrial Operations		Energy Operations		Manufactur- ing Operations		Total
	(In thousands)
Revenues by geographic area:
United States	$	74,413	$	11,957	$	63,818	$	66,319	$	216,507	$	7,957	$	12,855	$	49,183	$	13,400	$	83,395
Canada and Latin America	—		1,462		—		22,626		24,088		6		857		—		3,569		4,432
Total Americas	74,413		13,419		63,818		88,945		240,595		7,963		13,712		49,183		16,969		87,827

Europe, Middle East and Africa	3,000		7,281		—		4,845		15,126		—		7,974		—		1,575		9,549

China	490		1,525		—		21,002		23,017		4,650		1,482		—		3,923		10,055
India	—		1,986		—		—		1,986		—		2,700		—		26		2,726
Asia-Pacific, excluding China and India	452		4,056		—		—		4,508		6,912		4,553		—		690		12,155
Total Asia-Pacific	942		7,567		—		21,002		29,511		11,562		8,735		—		4,639		24,936
Total revenues	$	78,355	$	28,267	$	63,818	$	114,792	$	285,232	$	19,525	$	30,421	$	49,183	$	23,183	$	122,312

Long-lived Assets by Geographic Areas


	December 31, 2025
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufactur- ing Operations		Total
	(In thousands)
Long-lived tangible assets by geographic area:
United States	$	83	$	163	$	192,242	$	6,080	$	198,568
Canada	—		—		—		6,484		6,484
Europe	—		80		—		4,055		4,135
Asia-Pacific	—		605		—		2,204		2,809

Total	$	83	$	848	$	192,242	$	18,823	$	211,996


	December 31, 2024
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufactur- ing Operations		Total
	(In thousands)
Long-lived tangible assets by geographic area:
United States	$	126	$	220	$	192,435	$	7,685	$	200,466
Canada	—		—		—		7,225		7,225
Europe	—		99		—		4,257		4,356
Asia-Pacific	—		925		—		2,573		3,498

Total	$	126	$	1,244	$	192,435	$	21,740	$	215,545

ACACIA RESEARCH CORP 10-K