Acacia Research Corporation (NASDAQ:ACTG) Q4 2023 Earnings Conference Call March 14, 2024 4:30 PM ET

Company Participants

Rob Fink - FNK, Investor Relations

MJ McNulty - Chief Executive Officer

Kirsten Hoover - Interim Chief Financial Officer

Conference Call Participants

Anthony Stoss - Craig-Hallum

Brett Reiss - Janney Montgomery Scott

Operator

Good afternoon, everyone. And welcome to the Acacia Research Fourth Quarter and Year End 2023 Financial Results Call. At this time, all participants are in a listen-only mode and the floor will be open for questions following the presentation. [Operator Instructions]

Please note this conference is being recorded. I will now turn the conference over to your host, Rob Fink, Investor Relations. Rob, you may begin.

Rob Fink

Thank you, Operator. Thank you everyone for joining us. Hosting the call today are MJ McNulty, Chief Executive Officer; and Kirsten Hoover, Interim Chief Financial Officer.

Before beginning, I would like to remind you that the information provided during this call may contain forward-looking statements relating to current expectations, estimates, forecasts and projections about future events that are forward-looking as defined in the Private Securities Litigation Reform Act of 1995.

These forward-looking statements generally relate to the company’s plans, objectives and expectations for future operations, and are based on the current estimates and projections, future results or trends.

Actual results may differ materially from those projected as a result of certain risks and uncertainties. For a discussion of such risks and uncertainties, please see the risk factors described in Acacia’s annual report on Form 10-K and quarterly reports on Form 10-Q that are filed with the SEC.

I would also like to remind everyone that a press release disclosing the financial results was issued this afternoon just after the close of market. This release may be accessed on the company’s website under the Press Release section of the Investor Relations tab at acaciaresearch.com.

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

MJ McNulty

Thanks, Rob, and thanks to everyone for joining our call this afternoon. We’re excited to share the details of 2023 with you all. We have a very active year and 2024 is starting out in the same fashion.

While the team focused in the first half of last year on rationalizing our cost structure and maximizing value in our legacy asset base, our focus for the second half was and continues to be on growing our business through acquisitions and identifying opportunistic situations where our research, execution and operating partners can drive earnings and book value for share growth in disciplined and unique ways, both in our existing operating business and non-controlled positions we have on our balance sheet.