Magnesium-independent polyisoprenoid diphosphatase that catalyzes the sequential dephosphorylation of presqualene, farnesyl, geranyl and geranylgeranyl diphosphates (PubMed:16464866, PubMed:19220020, PubMed:20110354). Functions in the innate immune response through the dephosphorylation of presqualene diphosphate which acts as a potent inhibitor of the signaling pathways contributing to polymorphonuclear neutrophils activation (PubMed:16464866, PubMed:23568778). May regulate the biosynthesis of cholesterol and related sterols by dephosphorylating presqualene and farnesyl diphosphate, two key intermediates in this biosynthetic pathway (PubMed:20110354). May also play a role in protein prenylation by acting on farnesyl diphosphate and its derivative geranylgeranyl diphosphate, two precursors for the addition of isoprenoid anchors to membrane proteins (PubMed:20110354). Has a lower activity towards phosphatidic acid (PA), but through phosphatidic acid dephosphorylation may participate in the biosynthesis of phospholipids and triacylglycerols (PubMed:18930839). May also act on ceramide-1-P, lysophosphatidic acid (LPA) and sphing-4-enine 1-phosphate/sphingosine-1-phosphate (PubMed:18930839, PubMed:20110354). H2O + presqualene diphosphate = H(+) + phosphate + presqualene monophosphate H2O + presqualene monophosphate = phosphate + presqualene alcohol (2E,6E)-farnesyl diphosphate + H2O = (2E,6E)-farnesyl phosphate + H(+) + phosphate (2E,6E)-farnesyl phosphate + H2O = (2E,6E)-farnesol + phosphate (2E,6E,10E)-geranylgeranyl diphosphate + H2O = (2E,6E,10E)-geranylgeranyl phosphate + H(+) + phosphate (2E,6E,10E)-geranylgeranyl phosphate + H2O = (2E,6E,10E)-geranylgeraniol + phosphate (2E)-geranyl diphosphate + H2O = (2E)-geranyl phosphate + H(+) + phosphate (2E)-geranyl phosphate + H2O = (2E)-geraniol + phosphate 1,2-dihexadecanoyl-sn-glycero-3-phosphate + H2O = 1,2-dihexadecanoyl-sn-glycerol + phosphate Inhibited by propranolol (PubMed:18930839). Not inhibited by N-ethylmaleimide or bromoenolactome (PubMed:18930839). Optimum pH is 7-8. Widely expressed. Expressed in most organs, in particular gastrointestinal organs, spleen, placenta, kidney, thymus and brain. Phosphorylation by PKC activates the phosphatase activity towards presqualene diphosphate. Belongs to the PA-phosphatase related phosphoesterase family.