Digimarc Corporation - DMRC STOCK NEWS

Digimarc Corporation (NASDAQ: DMRC) reported its Q4 and FY 2022 financial results. Q4 2022 subscription revenue rose 13% to $4.1 million, driven by new contracts despite a $1.0 million revenue decline from patent sales in Q4 2021. Total revenue for Q4 increased 1% to $7.2 million, while service revenue fell 11% to $3.1 million.

Net loss for Q4 was $12.4 million or $(0.62) per share, compared to a $8.2 million loss in Q4 2021. For FY 2022, subscription revenue grew 32% to $15.2 million, with a total revenue increase of 14% to $30.2 million. However, the net loss widened to $59.8 million or $(3.12) per share.

Digimarc Corporation (NASDAQ: DMRC) will host a conference call on March 1, 2023, at 5:00 p.m. Eastern Time to discuss its fourth-quarter and full-year results for 2022. The call will feature CEO Riley McCormack, CFO Charles Beck, and CLO Joel Meyer, who will provide financial updates and strategic insights, followed by a Q&A session. Interested parties can join via phone or access the webcast through the provided link. Digimarc specializes in product digitization and has been a leader in preventing digital counterfeiting for over 20 years, helping reveal product journeys for increased transparency and security.

Digimarc Corporation (NASDAQ: DMRC) has announced the selection of France as the European pilot market for its Digimarc Recycle initiative, part of the Digital Watermarks Initiative HolyGrail 2.0. This follows successful semi-industrial trials demonstrating that digital watermarking technology can transform recycling. The trials showed a remarkable 99% average detection rate for plastic packaging. The initiative aims to improve the recycling process by linking covert digital watermarks to product attributes, enabling better sorting and enhancing the sustainability of the packaging value chain.

Digimarc Corporation (Nasdaq: DMRC) has announced a five-year extension of its agreement with the Central Bank Counterfeit Deterrence Group (CBCDG), effective from January 1, 2023 to December 31, 2029. This extension was granted two years early and reflects Digimarc's critical role in supporting global currency counterfeit deterrence efforts. Both parties express satisfaction with the renewal, emphasizing the importance of continued collaboration. Digimarc has been a trusted partner in this initiative for over 20 years, providing vital solutions for central banks worldwide.

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.

Digimarc Corporation (NASDAQ: DMRC) reported a 22% increase in revenue for Q3 2022, reaching $7.8 million compared to $6.4 million in Q3 2021. This growth is attributed to subscription and service revenue, including $1.1 million from a new commercial contract, despite declines from sunsetting its Piracy Intelligence product. Operating expenses surged 62% to $19.7 million, mainly due to the acquisition of EVRYTHNG and higher compensation costs. The net loss expanded to $14.9 million or $(0.76) per share, compared to a $2.9 million loss a year earlier.

Digimarc Corporation (Nasdaq: DMRC) will hold a conference call on November 3, 2022, at 5:00 p.m. Eastern time, to discuss its Q3 2022 financial results. The call will feature CEO Riley McCormack, CFO Charles Beck, and CLO Joel Meyer, who will provide insights into quarterly highlights and strategic priorities. A press release with financial results will precede the call. Participants can join via a toll-free number or through a webcast link.

On October 17, 2022, Digimarc Corporation (Nasdaq: DMRC) announced successful results from a Canadian pilot project assessing its Digimarc Recycle technology. This initiative aimed to enhance the recycling sortation of flexible plastic packaging in Canada. The project achieved an impressive 99% accuracy in detection and sorting, positioning Digimarc as a leader in recycling technology. The Circular Plastics Taskforce intends to deploy Digimarc Recycle in 2023 to improve sorting efficiency and create new end-markets for recycled materials, reinforcing the company's commitment to advanced plastic recycling.

Digimarc Corporation (NASDAQ: DMRC) announced its Q2 2022 financial results, reporting a 23% revenue increase to $7.7 million, boosted by subscription and service revenue, despite a $0.3 million decline in Piracy Intelligence subscription revenue. However, gross profit fell 5% to $4.0 million due to amortization from the EVRYTHNG acquisition. Operating expenses decreased 4% to $18.9 million, but net loss was $14.6 million, improving from $15.4 million year-over-year. Cash reserves improved to $68.4 million.