Digimarc Expands Partnership with Walmart in a New Multiyear Agreement

Rhea-AI Summary

Digimarc Corporation (Nasdaq: DMRC) announced a multi-year agreement with Walmart to enhance store operations, ensuring minimum payments of $2.7 million in the first year and $5.8 million in the second year. This new arrangement expands upon the existing contract and includes a total remaining contract value of $7.3 million booked in the current quarter. CEO Riley McCormack expressed excitement about the partnership, highlighting Walmart's commitment to customer experience. The deal underscores Digimarc's role in product digitization.

Positive

• Multi-year agreement with Walmart to optimize store operations.
• Guaranteed minimum payment of $2.7 million in year one, increasing to $5.8 million in year two.
• Total remaining contract value of $7.3 million booked in the current quarter.

Negative

• None.

The deal covers an expanded deployment of Digimarc Platform capabilities

BEAVERTON, Ore., Dec. 1, 2022 /PRNewswire/ -- Digimarc Corporation (Nasdaq: DMRC) announced today that the company has entered into an additional multi-year agreement with Walmart to help further optimize store operations. The new agreement guarantees a minimum payment of $2.7 million in year one, more than doubling to $5.8 million in year two, and covers an expanded deployment of Digimarc Platform capabilities beyond the scope of the existing agreement between the two companies. As discussed in our Q3 earnings call, the remaining contract value of $7.3 million has now been booked in the current quarter as expected. 

"Walmart is a forward-thinking technology leader with an unwavering focus on customer experience. We are thrilled to expand our partnership with them and look forward to sharing more details about this expansion in the coming months," says Riley McCormack, Digimarc CEO.

To learn more about the Digimarc Platform and product digitization suite, visit digimarc.com.

About Digimarc

Digimarc is a global leader in product digitization, delivering business value across industries through unique identities and cloud-based solutions. A trusted partner in deterring digital counterfeiting of global currency for more than 20 years, Digimarc reveals a product's journey to provide intelligence and promote a prosperous, safer, and more sustainable world. With Digimarc, you can finally see everything. And when you see everything, you can achieve anything. For more information, visit us at digimarc.com.

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SOURCE Digimarc Corporation

FAQ

What is the value of the new agreement between Digimarc and Walmart?

The new agreement guarantees a minimum payment of $2.7 million in the first year and $5.8 million in the second year.

How does the new Walmart agreement impact Digimarc's current financials?

The remaining contract value of $7.3 million has been booked in the current quarter, positively impacting Digimarc's financials.

When was the new agreement between Digimarc and Walmart announced?

The agreement was announced on December 1, 2022.

What does the partnership with Walmart entail for Digimarc?

The partnership involves an expanded deployment of Digimarc Platform capabilities to optimize store operations.