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Digimarc Corporation provides product digitization solutions in the United States and internationally. The company offers software subscriptions and software development services. It also provides physical digimarc solutions for anti-counterfeiting, counterfeiting deterrence, product swap prevention, recycling, and secure gift cards; and digital digimarc solutions for internal compliance, leak detection, piracy prevention, provenance and authenticity, and royalty monitoring. In addition, the company offers commercial solutions which runs on the Illuminate platform, a software as a service cloud-based platform for digital connectivity. The company serves retail, CPG, media and technology, pharmaceutical, health and wellness, apparel, and automotive industries, as well as central banks and other government customers. Digimarc Corporation was incorporated in 2008 and is headquartered in Beaverton, Oregon.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $34M | $-25M | $-32M | $-13M | -80.4% | -11.7% | -17.2% |
| 2024 | $38M | $-33M | $-39M | $-27M | -63.6% | 10.2% | -15.1% |
| 2023 | $35M | $-39M | $-46M | $-23M | -74.3% | 15.4% | -23.1% |
| 2022 | $30M | $-51M | $-60M | $-46M | -61.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 30.20 | 34.85 | 38.42 | 33.91 |
| Operating Revenue | - | 30.20 | 34.85 | 38.42 | 33.91 |
| Cost Of Revenue | - | 14.87 | 14.69 | 14.18 | 13.02 |
| Gross Profit | - | 15.32 | 20.16 | 24.24 | 20.90 |
| Operating Expense | - | 74.96 | 67.44 | 65 | 53.88 |
| Research And Development | - | 26.49 | 26.58 | 26.21 | 20.48 |
| Selling General And Administration | - | 48.66 | 40.48 | 38.24 | 32.44 |
| Total Expenses | - | 89.83 | 82.12 | 79.18 | 66.89 |
| Operating Income | - | -59.63 | -47.27 | -40.76 | -32.98 |
| Total Operating Income As Reported | - | -61.81 | -48.21 | -41.31 | -33.16 |
| EBITDA | - | -51.06 | -39.15 | -33.16 | -24.69 |
| Normalized EBITDA | - | -50.23 | -38.99 | -33.14 | -24.71 |
| EBIT | - | -59.63 | -47.27 | -40.76 | -32.98 |
| Interest Income | - | 0.74 | 1.68 | 1.82 | 0.68 |
| Net Interest Income | - | 0.74 | 1.68 | 1.82 | 0.68 |
| Other Non Operating Income Expenses | 0.03 | 0.02 | -0.01 | - | - |
| Other Income Expense | - | -0.81 | -0.16 | -0.03 | 0.02 |
| Interest Income Non Operating | - | 0.74 | 1.68 | 1.82 | 0.68 |
| Net Non Operating Interest Income Expense | - | 0.74 | 1.68 | 1.82 | 0.68 |
| Pretax Income | - | -59.70 | -45.76 | -38.97 | -32.28 |
| Tax Provision | - | 0.10 | 0.20 | 0.04 | 0.03 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -59.80 | -45.96 | -39.01 | -32.31 |
| Net Income From Continuing And Discontinued Operation | - | -59.80 | -45.96 | -39.01 | -32.31 |
| Net Income From Continuing Operation Net Minority Interest | - | -59.80 | -45.96 | -39.01 | -32.31 |
| Net Income | - | -59.80 | -45.96 | -39.01 | -32.31 |
| Net Income Common Stockholders | - | -59.80 | -45.96 | -39.01 | -32.31 |
| Net Income Including Noncontrolling Interests | - | -59.80 | -45.96 | -39.01 | -32.31 |
| Normalized Income | - | -58.97 | -45.80 | -38.98 | -32.33 |
| Diluted NI Availto Com Stockholders | - | -59.80 | -45.96 | -39.01 | -32.31 |
| Basic Average Shares | - | 19.14 | 20.32 | 21.26 | 21.66 |
| Diluted Average Shares | - | 19.14 | 20.32 | 21.26 | 21.66 |
| Reconciled Depreciation | - | 8.58 | 8.13 | 7.60 | 8.29 |
| Reconciled Cost Of Revenue | - | 7.36 | 7.62 | 7.68 | 5.86 |
| Total Unusual Items | - | -0.83 | -0.15 | -0.03 | 0.02 |
| Total Unusual Items Excluding Goodwill | - | -0.83 | -0.15 | -0.03 | 0.02 |
| Special Income Charges | 5.09 | -0.92 | -0.25 | 0 | - |
| Other Special Charges | -5.09 | - | - | - | - |
| Impairment Of Capital Assets | 0 | 0.92 | 0.25 | 0 | - |
| Gain On Sale Of Security | - | 0.09 | 0.10 | -0.03 | 0.02 |
| Depreciation Amortization Depletion Income Statement | - | 1.06 | 1.06 | 1.10 | 1.13 |
| Depreciation And Amortization In Income Statement | - | 1.06 | 1.06 | 1.10 | 1.13 |
| General And Administrative Expense | - | 18.94 | 18.07 | 17.07 | 18.50 |
| Other Gand A | - | 18.94 | 18.07 | 17.07 | 18.50 |
| Other Operating Expenses | - | -1.26 | - | - | - |
| Selling And Marketing Expense | - | 29.72 | 22.41 | 21.17 | 13.94 |
| Otherunder Preferred Stock Dividend | 0 | - | - | - | - |
| Amortization | - | 1.06 | 1.06 | 1.10 | 1.13 |
| Amortization Of Intangibles Income Statement | - | 1.06 | 1.06 | 1.10 | 1.13 |
| Other Taxes | - | -1.26 | -0.68 | -0.55 | -0.18 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Digimarc Corporationthis co. | DMRC | $321M | -9.93 | 7.99 | -80.4% | -12.81 |
| Vuzix Corporation | VUZI | $352M | - | 10.14 | -93.3% | - |
| Atomera Incorporated | ATOM | $350M | -17.37 | 19.06 | -109.8% | -17.61 |
| Telos Corporation | TLS | $334M | -9.15 | 3.49 | -38.1% | -11.48 |
| Repay Holdings Corporation | RPAY | $328M | -1.28 |
| - |
| - |
| - |
| - |
| - |
| 0.68 |
| -53.0% |
| -4.03 |
| Unisys Corporation | UIS | $315M | -0.93 | -1.11 | 120.2% | -5.58 |
| BK Technologies Corporation | BKTI | $311M | 22.96 | 6.95 | 30.3% | 16.30 |
| TechTarget, Inc. | TTGT | $306M | - | 0.51 | -169.6% | - |
| 8x8, Inc. | EGHT | $289M | 175.63 | 1.97 | 1.1% | 10.59 |
| Peer Median | - | -1.10 | 2.73 | -45.5% | -4.80 | |