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Digimarc Corporation (symbol: DMRC), based in Beaverton, Oregon, is a leading innovator and technology provider, empowering businesses and governments worldwide to enhance everyday living through advanced identification solutions. Digimarc's cutting-edge technologies enable the identification of various forms of content, including print, packaging, audio, video, and digital imagery.
The company's core offerings include the Digimarc Barcode and Digimarc Discovery platforms, which create a seamless way for computers and digital devices to interact with the world in a manner similar to human perception. This breakthrough allows consumers and organizations to access digital content effortlessly and intuitively.
Digimarc's technologies are embedded in tens of billions of objects globally, facilitating easy access to product information and digital content. The company’s flagship product, the Digimarc Illuminate platform, is a Software as a Service (SaaS) cloud-based solution that provides tools for applying digital watermarks and dynamic Quick Response (QR) codes. This platform includes software for digital twins, which enable various systems and devices to interact with these data carriers, and a centralized system for capturing insights about digital interactions and automating activities based on this information.
Revenue for Digimarc Corporation is generated through a combination of software development services, product subscriptions, related services, and patent licensing. The company's recent achievements include expanded partnerships and increased adoption of its technologies across diverse industries.
With a unified vision to enrich everyday living through pervasive and intuitive computing, Digimarc continually pushes the boundaries of digital connectivity by fostering more efficient and engaging interactions between digital devices and the physical world.
Digimarc Corporation (Nasdaq: DMRC) announced the successful results of its HolyGrail 2.0 semi-industrial trial, showcasing an impressive 99% detection rate for digital watermarks in plastic packaging. These watermarks maintained high performance even under challenging conditions, enhancing the accuracy of sorting materials for recycling. As governments advocate for circular economies, Digimarc's technology is positioned to enable reliable identification and classification of packaging, aiding recycling efforts. CEO Riley McCormack emphasized the transformative impact of this technology on sustainability and business.
MERGE has appointed Keith Turco as the new Chief Growth Officer, aiming to enhance business growth in marketing services. Turco, a specialist in digital transformation with over 25 years of experience, will leverage his extensive background with renowned brands to propel MERGE's objectives. CEO Patrick Venetucci emphasized Turco's capabilities in driving traffic and transactions for their clients. MERGE, dedicated to merging storytelling with technology, has partnerships with major organizations including American Express and Facebook, supporting a workforce of over 750 employees across multiple locations.
Digimarc Corporation (Nasdaq: DMRC) announced the election of Katie Kool to its Board of Directors, effective July 1, 2022. Kool brings extensive experience as a former C-suite executive at Procter & Gamble and current CEO of Tide Cleaners, with a strong background in financial strategy and digital transformation. She will serve on the Audit and Compensation Committees, expected to enhance Digimarc's growth trajectory. CEO Riley McCormack emphasized her background as a valuable asset in scaling the company’s digital identification solutions.
Digimarc Corporation (NASDAQ: DMRC) reported a 28% increase in fourth quarter revenue to $7.1 million, driven by higher subscription and service revenue related to patent sales and HolyGrail 2.0 activities. Operating expenses rose 13% to $13.2 million, leading to a 5% increase in operating loss to $8.2 million. For the fiscal year 2021, revenue increased 11% to $26.5 million, while net loss grew 7% to $34.8 million or $(2.11) per share. Cash and equivalents decreased to $41.6 million from $77.7 million year-over-year.
Digimarc Corporation (Nasdaq: DMRC) has appointed Jill Elliott as its new Chief People Officer, effective immediately. Reporting to CEO Riley McCormack, Elliott brings over 20 years of HR experience from both startups and Fortune 100 companies, previously serving as SVP of HR and DEI at Dentsu International. Her role focuses on fostering a transparent, inclusive, and high-performing culture, crucial for Digimarc's growth during this transformative period. Elliott holds a B.S. in Human Resources Management and is SPHR certified.
Digimarc Corporation (Nasdaq: DMRC) has appointed Milena Alberti-Perez to its Board of Directors, effective April 5, 2022. With extensive experience in financial oversight and international leadership, she will contribute to the Audit and Compensation Committees. Formerly the CFO of Getty Images, Alberti-Perez's expertise will support Digimarc's growth and transformation. CEO Riley McCormack expressed optimism about her role in steering the company through its next phase. Alberti-Perez also holds degrees from The University of Pennsylvania and Harvard Business School.
Digimarc Corporation (NASDAQ: DMRC) plans to hold a conference call on March 2, 2022, at 5:00 p.m. ET to discuss the fourth quarter and full year results for 2021. Management, including CEO Riley McCormack and CFO Charles Beck, will present financial highlights and strategic updates, followed by a Q&A session. Financial results will be released prior to the call. Interested parties can join via the provided toll-free or international numbers.
Digimarc Corporation (Nasdaq: DMRC) announced the successful acquisition of EVRYTHNG Ltd, enhancing its digital identification solutions. The deal positions Digimarc to enter a burgeoning market with EVRYTHNG's leading Product Cloud, which connects product data for improved visibility and consumer engagement. This acquisition adds 65 employees and expands Digimarc's global reach, linking operations in North America and Europe. Details on transaction specifics will be disclosed in a forthcoming SEC filing.
Digimarc Corporation (NASDAQ: DMRC) has announced its definitive agreement to acquire EVRYTHNG Limited, a leader in product intelligence, in a stock transaction. This acquisition aims to enhance Digimarc's capabilities by merging its unique identification technologies with EVRYTHNG's advanced product data management solutions. Set to close in January 2022, the merger will allow for improved customer solutions and expanded market reach. Both companies share aligned values and aim to drive innovation, facilitating sustainable supply chains and empowering consumer trust in product authenticity.
Digimarc Corporation (NASDAQ: DMRC) reported a 12% revenue increase in Q3 2021, totaling $6.4 million, driven by growth in Commercial and Government services. Operating expenses remained unchanged at $12.2 million, with a 5% reduction in operating loss to $8.0 million. Net loss improved significantly to $2.9 million ($0.17 per diluted share) from $8.4 million ($0.68 per diluted share) year-over-year. Additionally, a $5.1 million gain from PPP loan forgiveness contributed to the financial results. At the end of Q3, cash reserves totaled $52.5 million, down from $77.7 million in December 2020.
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