ACTG - Earnings call transcript Q3 2019 | Acacia Research Corporation

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Operator

Good day, and welcome, ladies and gentlemen, to the Acacia Research 2019 Quarter Three Earnings Call. At this time, I would like to inform you that this conference is being recorded. [Operator Instructions]

I would now like to turn the conference over the Rob Fink. Please go ahead, sir.

Rob Fink

Operator. you, Thank today Al call Press, Executive Chief Hosting President are and and Tobia, Chief Officer the Clifford Investment Officer.

would company's call Reform XXXX. statements current as defined forward-looking are Before provided Act plans, about and relate future estimates, of statements the I like objectives the are you projections remind beginning, forward-looking operations or that the that to for those projected results may based expectations forecasts during future of as and on this results a uncertainties. and to Private differ estimates may These relating factors forward-looking from in events contain and projections, current projections, to future information Actual result Securities generally trends. Litigation risk certain materially

of are risk the the on Form uncertainties, please discussion described Acacia's on a report filed that quarterly and such Form annual see in factors XX-Q with XX-K report factors risk For SEC. and

call, present that the were presentation was this In measures the that notes of other the the with addition, press release and morning’s company SEC. non-GAAP regarding filed measures. during non-GAAP Please included to disclosures will X-K the financial our refer and financial in

a press under the results News would to everyone the company's at acaciaresearch.com disclosing may the website remind I issued be the & company's which like tab. financial this opened, release that was market before morning accessed on Events

call to yours. the like With now over Al. all Al, that I said, floor turn to the is would

Al Tobia

another for Rob, and quarter This good of you morning progress was Thank everyone. Acacia.

of our focused diversify leadership differentiated. in a property the quarter, related undervalued return advance team dislocated In transformation, place We now team portfolio an we executive have intellectual absolute Acacia an build our the legacy with to during portfolio. strategic industry, third continued we a our and is to our investment As and assets. business strategy further rationalized right established specifically

securities. and $XXX million marketable cash in have We

operating loss between carry and state and XXX XXXX. in million net XXXX expire forwards have We federal that

technology, have as and the million skillsets credits. IT for in tax potential investments, We both we life science in attractive well apply we company have we offers a with and capitalized forward. landscape a prudent move we Additionally the transaction believe will Management $XX investing allocation foreign returns Board, which strategy. Most asset importantly, Senior

We are actively of of strategic advancing opportunities on acquisitions a potential number partnerships. and

updates to develop are We on strategy and opportunities our provide in they eager are as these and focus. confident

call I'd QX like of over the our to now a to results. for turn review Clifford to

Clifford Press

the quarter you, later which more XX-Q morning. today. and file third Thank Good Al. provide report quarterly but the with the release will press we financial detail the is results, I available also form overview of in on today an will upcoming in SEC issued

board. contributed increase the this thus This when second and with XXXX, the quarter-over-quarter since in and the million cash up first quarter for and we $XX.X cash During $X million, position. Miso the quarter, million investments. investments Al quarter exiting short-term million, in the which $X.X by of the $XXX.X of Robotics is sold position I to ended joined short-term We

to and be full million. existing guidance and revenue less timing are Acacia believe anticipated. $XX not of of approximately and be year $XX for legacy portfolio to licenses significant remaining from magnitude generate limited revenues the remaining a the will between reducing we full during year we the quarter. negotiated million we The has Further our than the Accordingly, of number revenues million previously did $XX

questions. for like open the call to I'd now

Operator

our from take Instructions] [Operator Brett Montgomery Janney Reiss you. Thank first We'll Scott. with question

Brett Reiss

you’re Good morning, Al; How good morning, doing? Clifford.

Al Tobia

are Good how morning Brett, you?

Brett Reiss

that this color quarter? the on intake occurred any Good. Can you give us patent

Clifford Press

and of – have announce intake, we those patent expect, acquisitions we're expect, working patent actively we significant to of amount as substantial a Al some on on we’ll assets shortly. hope those some to, that, we have so didn't we're we’re and something We working will working referred be

Brett Reiss

overall kind question, attended to a farmer consolidation more you patent and of annual enhance the just that And working when shareholder Okay. intake, three meeting, I value, were possibly on broad broad opportunities. royalties there categories were

pursuing Now that bumps running say three you've categories, progress initiatives speed been any that what actively these to all category of the are you can in of into? you're

Clifford Press

they say the those wouldn't all are from the it I bumps, speed were stuffs. standing doing

to and we be once progress the yes, been I has time committed as the some a is making during significant cleaned it needs where quarter, on we Al of related process built strategy. all and building and to now a the from, partnerships beginning of IP this return it able company assets working put the team So that position is has this the absolute in up, to to it's the expect new the in

Al Tobia

active But areas in three those unfortunately I'd And terms did in there focus. add – in you are what are we we of Brett, in but close you're identified of areas the quarter, correct not anything

Brett Reiss

areas one we'll Of next, let's or you think release be something that where and you about? proud quarters, the do three two can say in concrete the see

Clifford Press

advance. rather we'd that about afterwards, Well, talk Brett that in

Brett Reiss

back Alright, drop going I'm in fair queue. enough. to

Al Tobia

you. Thank

Operator

more all a disconnect. All this parties day. have no and queue Ladies in questions participating may at Thank We gentlemen, concludes have for our time. for now you conference the today. nice this and

Acacia Research (ACTG) 12 Nov 192019 Q3 Earnings call transcript