NASDAQ : DMRC
Digimarc Corporation — Financial statements
Technology · Software - Application · United States
Last price 8.83 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 197.36M
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Financial statements
Digimarc Corporation (DMRC) reported revenue of 31.50M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 31.50M | 33.91M | 38.42M | 34.85M | 30.20M | 26.52M |
| Cost of Revenue | 7.75M | 8.28M | 9.59M | 10.23M | 10.44M | 8.78M |
| Gross Profit | 23.75M | 25.63M | 28.83M | 24.62M | 19.76M | 17.74M |
| Selling, General & Admin | 34.23M | 30.84M | 38.24M | 39.88M | 48.66M | 32.57M |
| Research & Development | 15.69M | 18.86M | 26.21M | 25.78M | 26.49M | 17.54M |
| Amortization of Goodwill & Intangibles | 5.96M | 5.87M | 5.69M | 5.52M | 5.50M | |
| Operating Expenses | 55.88M | 55.56M | 70.14M | 71.18M | 80.66M | 50.11M |
| Operating Income | -32.13M | -29.93M | -41.31M | -46.56M | -60.89M | -32.37M |
| Interest & Investment Income | 434.00K | 681.00K | 1.82M | 1.68M | 744.00K | |
| Currency Exchange Gain (Loss) | 85.00K | 21.00K | -27.00K | 96.00K | 86.00K | |
| Other Non Operating Income (Expenses) | 186.00K | 182.00K | 550.00K | 676.00K | 1.28M | 29.00K |
| EBT Excluding Unusual Items | -31.42M | -29.05M | -38.97M | -44.10M | -58.79M | -32.34M |
| Merger & Restructuring Charges | -30.00K | -3.23M | -1.40M | -1.30M | ||
| Asset Writedown | -250.00K | -915.00K | ||||
| Other Unusual Items | -1.11M | |||||
| Pretax Income | -31.45M | -32.28M | -38.97M | -45.76M | -59.70M | -34.74M |
| Income Tax Expense | 4.00K | 31.00K | 44.00K | 204.00K | 97.00K | 16.00K |
| Net Income | -31.44M | -32.31M | -39.01M | -45.96M | -59.80M | -34.76M |
| Net Income to Common | -31.44M | -32.31M | -39.01M | -45.96M | -59.80M | -34.76M |
| Shares Outstanding (Basic) | 21.95M | 21.66M | 21.26M | 20.32M | 19.14M | 16.46M |
| Shares Outstanding (Diluted) | 21.95M | 21.66M | 21.26M | 20.32M | 19.14M | 16.46M |
| EPS (Basic) | -1.43 | -1.49 | -1.83 | -2.26 | -3.12 | -2.11 |
| EPS (Diluted) | -1.43 | -1.49 | -1.83 | -2.26 | -3.12 | -2.11 |
| Free Cash Flow | -4.65M | -12.35M | -26.78M | -22.31M | -45.34M | -27.08M |
| Free Cash Flow Per Share | -0.21 | -0.57 | -1.26 | -1.10 | -2.37 | -1.65 |
| Gross Margin | 75.39% | 75.58% | 75.05% | 70.66% | 65.44% | 66.90% |
| Operating Margin | -101.99% | -88.26% | -107.52% | -133.59% | -201.66% | -122.04% |
| Profit Margin | -99.80% | -95.27% | -101.54% | -131.87% | -198.03% | -131.07% |
| Free Cash Flow Margin | -14.77% | -36.41% | -69.72% | -64.01% | -150.15% | -102.12% |
| EBITDA | -24.16M | -22.06M | -34.07M | -38.95M | -53.28M | -30.32M |
| EBITDA Margin | -76.69% | -65.06% | -88.68% | -111.75% | -176.44% | -114.32% |
| D&A For EBITDA | 7.97M | 7.87M | 7.24M | 7.61M | 7.61M | 2.05M |
| EBIT | -32.13M | -29.93M | -41.31M | -46.56M | -60.89M | -32.37M |
| EBIT Margin | -101.99% | -88.26% | -107.52% | -133.59% | -201.66% | -122.04% |
| Revenue as Reported | 31.50M | 33.91M | 38.42M | 34.85M | 30.20M | 26.52M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 6.93M | 9.82M | 12.37M | 21.46M | 33.60M | 13.79M |
| Short-Term Investments | 1.82M | 3.05M | 16.36M | 5.73M | 18.94M | 19.54M |
| Cash & Short-Term Investments | 8.76M | 12.87M | 28.73M | 27.18M | 52.54M | 33.33M |
| Accounts Receivable | 6.46M | 6.51M | 6.41M | 5.81M | 5.43M | 6.37M |
| Receivables | 6.46M | 6.51M | 6.41M | 5.81M | 5.43M | 8.37M |
| Other Current Assets | 2.62M | 1.96M | 4.19M | 4.08M | 6.17M | 2.32M |
| Total Current Assets | 17.84M | 21.34M | 39.33M | 37.08M | 64.14M | 44.01M |
| Property, Plant & Equipment | 3.87M | 4.34M | 4.70M | 5.59M | 7.11M | 4.17M |
| Long-Term Investments | 8.29M | |||||
| Goodwill | 8.94M | 9.06M | 8.53M | 8.64M | 8.23M | 1.11M |
| Other Intangible Assets | 13.77M | 17.05M | 22.19M | 28.46M | 33.17M | 6.61M |
| Long-Term Deferred Charges | 127.00K | 176.00K | 9.00K | 104.00K | ||
| Other Long-Term Assets | 1.30M | 999.00K | 1.01M | 777.00K | 1.02M | 673.00K |
| Total Assets | 45.84M | 52.96M | 75.77M | 80.55M | 113.78M | 64.88M |
| Accounts Payable | 1.57M | 501.00K | 1.26M | 6.09M | 5.05M | 3.98M |
| Accrued Expenses | 5.32M | 2.96M | 3.07M | |||
| Current Portion of Leases | 963.00K | 899.00K | 781.00K | 582.00K | 939.00K | 745.00K |
| Current Unearned Revenue | 4.61M | 3.99M | 4.02M | 5.85M | 4.14M | 2.99M |
| Total Current Liabilities | 12.46M | 8.35M | 9.14M | 12.53M | 10.13M | 7.72M |
| Long-Term Leases | 3.82M | 4.31M | 5.21M | 5.99M | 5.98M | 1.03M |
| Other Long-Term Liabilities | 125.00K | 63.00K | 56.00K | 106.00K | 76.00K | 752.00K |
| Total Liabilities | 16.40M | 12.73M | 14.41M | 18.62M | 16.19M | 9.50M |
| Common Stock | 23.00K | 22.00K | 21.00K | 20.00K | 20.00K | 17.00K |
| Additional Paid-In Capital | 433.21M | 424.67M | 415.05M | 376.19M | 367.69M | 261.32M |
| Retained Earnings | -402.17M | -383.09M | -350.78M | -311.77M | -265.81M | -206.01M |
| Comprehensive Income & Other | -1.81M | -1.42M | -2.98M | -2.56M | -4.36M | |
| Total Common Equity | 29.26M | 40.18M | 61.31M | 61.88M | 97.54M | 55.33M |
| Shareholders' Equity | 29.44M | 40.23M | 61.36M | 61.93M | 97.59M | 55.38M |
| Total Liabilities & Equity | 45.84M | 52.96M | 75.77M | 80.55M | 113.78M | 64.88M |
| Total Debt | 4.78M | 5.21M | 5.99M | 6.58M | 6.92M | 1.77M |
| Net Cash (Debt) | 3.98M | 7.65M | 22.74M | 20.61M | 45.63M | 39.84M |
| Net Cash Per Share | 0.18 | 0.35 | 1.07 | 1.01 | 2.38 | 2.42 |
| Filing Date Shares Outstanding | 22.35M | 22.01M | 21.49M | 20.34M | 20.07M | 17.31M |
| Total Common Shares Outstanding | 22.29M | 21.82M | 21.44M | 20.27M | 20.06M | 16.56M |
| Working Capital | 5.38M | 12.99M | 30.19M | 24.55M | 54.01M | 36.30M |
| Book Value Per Share | 1.31 | 1.84 | 2.86 | 3.05 | 4.86 | 3.34 |
| Tangible Book Value | 6.56M | 14.08M | 30.59M | 24.78M | 56.14M | 47.60M |
| Tangible Book Value Per Share | 0.29 | 0.65 | 1.43 | 1.22 | 2.80 | 2.87 |
| Machinery | 2.72M | 2.68M | 2.63M | 3.91M | 6.40M | 6.90M |
| Leasehold Improvements | 192.00K | 227.00K | 203.00K | 1.86M | 1.86M | 1.66M |
| Order Backlog | 36.20M | 36.20M | 43.70M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -31.44M | -32.31M | -39.01M | -45.96M | -59.80M | -34.76M |
| Depreciation & Amortization | 8.43M | 8.29M | 7.59M | 8.13M | 8.58M | 2.54M |
| Asset Writedown & Restructuring Costs | 250.00K | 915.00K | ||||
| Loss (Gain) From Sale of Investments | 650.00K | |||||
| Stock-Based Compensation | 16.87M | 11.97M | 10.03M | 11.16M | 11.29M | 11.94M |
| Provision & Write-off of Bad Debts | 271.00K | 567.00K | 17.00K | 20.00K | 89.00K | |
| Other Operating Activities | -17.00K | -5.03M | ||||
| Change in Accounts Receivable | -192.00K | -718.00K | -687.00K | -335.00K | 2.23M | -2.65M |
| Change in Accounts Payable | 2.79M | -434.00K | -1.61M | 660.00K | -3.86M | 2.08M |
| Change in Unearned Revenue | 715.00K | 28.00K | -1.84M | 1.63M | -371.00K | -10.00K |
| Change in Other Net Operating Assets | -1.67M | 831.00K | -1.07M | 2.46M | -3.49M | -873.00K |
| Operating Cash Flow | -4.24M | -11.78M | -26.57M | -22.00M | -44.41M | -26.12M |
| Capital Expenditures | -412.00K | -570.00K | -212.00K | -314.00K | -934.00K | -966.00K |
| Cash Acquisitions | -3.51M | |||||
| Sale (Purchase) of Intangibles | -636.00K | -654.00K | -431.00K | -426.00K | -533.00K | -606.00K |
| Investment in Securities | 4.16M | 13.32M | -10.64M | 13.30M | 8.74M | 29.55M |
| Other Investing Activities | -2.00M | |||||
| Investing Cash Flow | 3.11M | 12.10M | -11.28M | 12.56M | 3.76M | 25.98M |
| Long-Term Debt Repaid | -32.00K | -37.00K | -36.00K | -35.00K | ||
| Net Debt Issued (Repaid) | -31.00K | -32.00K | -37.00K | -36.00K | -35.00K | |
| Issuance of Common Stock | 262.00K | 32.50M | 63.26M | |||
| Repurchase of Common Stock | -2.29M | -2.88M | -3.42M | -2.72M | -2.36M | -5.77M |
| Other Financing Activities | 56.00K | -282.00K | -369.00K | |||
| Financing Cash Flow | -2.01M | -2.91M | 28.77M | -2.76M | 60.50M | -5.77M |
| Foreign Exchange Rate Adjustments | -38.00K | 50.00K | -2.00K | 52.00K | -39.00K | |
| Net Cash Flow | -3.18M | -2.54M | -9.09M | -12.14M | 19.81M | -5.91M |
| Free Cash Flow | -4.65M | -12.35M | -26.78M | -22.31M | -45.34M | -27.08M |
| Free Cash Flow Margin | -14.77% | -36.41% | -69.72% | -64.01% | -150.15% | -102.12% |
| Free Cash Flow Per Share | -0.21 | -0.57 | -1.26 | -1.10 | -2.37 | -1.65 |
| Levered Free Cash Flow | 7.02M | 1.55M | -13.12M | -6.10M | -18.35M | -10.10M |
| Unlevered Free Cash Flow | 7.02M | 1.55M | -13.12M | -6.10M | -18.35M | -10.10M |
| Cash Income Tax Paid | 27.00K | 45.00K | 63.00K | 233.00K | 61.00K | 40.00K |
| Change in Working Capital | 1.64M | -293.00K | -5.20M | 4.41M | -5.48M | -1.45M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 194.79M | 142.13M | 801.68M | 730.92M | 366.16M | 653.55M |
| Enterprise Value | 190.82M | 135.03M | 774.22M | 704.28M | 316.87M | 603.06M |
| Last Close Price | 8.83 | 6.56 | 37.45 | 36.12 | 18.49 | 39.48 |
| Forward PE | 24.08 | 24.08 | 24.08 | 24.08 | 24.08 | |
| PS Ratio | 6.27 | 4.19 | 20.87 | 20.97 | 12.13 | 24.64 |
| PB Ratio | 6.72 | 3.53 | 13.06 | 11.80 | 3.75 | 11.80 |
| P/TBV Ratio | 30.09 | 10.10 | 26.21 | 29.50 | 6.52 | 13.73 |
| PEG Ratio | 0.80 | 0.80 | 0.80 | 0.80 | 0.80 | |
| EV/Sales Ratio | 6.14 | 3.98 | 20.15 | 20.21 | 10.49 | 22.74 |
| Debt / Equity Ratio | 0.16 | 0.13 | 0.10 | 0.11 | 0.07 | 0.03 |
| Net Debt / Equity Ratio | -0.14 | -0.19 | -0.37 | -0.33 | -0.47 | -0.72 |
| Net Debt / EBITDA Ratio | 0.17 | 0.35 | 0.67 | 0.53 | 0.86 | 1.31 |
| Net Debt / FCF Ratio | 0.85 | 0.62 | 0.85 | 0.92 | 1.01 | 1.47 |
| Asset Turnover | 0.59 | 0.53 | 0.49 | 0.36 | 0.34 | 0.33 |
| Quick Ratio | 1.22 | 2.32 | 3.85 | 2.63 | 5.72 | 5.14 |
| Current Ratio | 1.43 | 2.56 | 4.30 | 2.96 | 6.33 | 5.70 |
| Return on Equity (ROE) | -82.86% | -63.61% | -63.28% | -57.62% | -78.18% | -49.93% |
| Return on Assets (ROA) | -37.68% | -29.07% | -33.03% | -29.95% | -42.61% | -24.99% |
| Return on Capital Employed (ROCE) | -96.20% | -67.10% | -62.00% | -68.40% | -58.80% | -56.60% |
| Earnings Yield | -16.43% | -22.73% | -4.87% | -6.29% | -16.33% | -5.32% |
| FCF Yield | -2.36% | -8.69% | -3.34% | -3.05% | -12.38% | -4.14% |
| Buyback Yield / Dilution | -2.03% | -1.89% | -4.62% | -6.18% | -16.26% | -27.56% |