DMRC on NASDAQ

Digimarc

Technology company specializing in enterprise software and services

Digimarc Corporation is a provider of enterprise software and services. The company's software, which includes digital identifiers (i.e., serialized QR codes and digital watermarks), is designed to address counterfeiting, product authenticity, recycling accuracy, and supply chain traceability.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1995Founded1

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  • TickerDMRC on NASDAQ1
  • IndustryServices-Computer Integrated Systems Design1
  • HeadquartersBeaverton1
  • Websitewww.digimarc.com
  • Legal formpublic company1
Digimarc image from its website
Image: digimarc.com5

Digimarc Corporation is a provider of enterprise software and services. The company's software, which includes digital identifiers (i.e., serialized QR codes and digital watermarks), is designed to address counterfeiting, product authenticity, recycling accuracy, and supply chain traceability. Digimarc products are created for multiple industries such as apparel, consumer packaged goods, health and beauty, and automotive.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

61.6%Gross margin6
-97.8%Operating margin6
-95.3%Net margin6
-11.7%Revenue growth, 20256
-80.3%Return on equity6
-$12.3MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue38¢$13.0M
  • Research and development60¢$20.5M
  • Other costs1¢$383.0K
  • Income tax0¢$31.0K

Out of $33.9M in revenue.6 The company lost money this year.

Financial statements

Revenue78910116$33.9M in 2025+48% since 2019
0$10.0M$20.0M$30.0M$40.0M2019: $23.0M$23.0M20192020: $24.0M$24.0M2020+4%2021: $26.5M$26.5M2021+11%2022: $30.2M$30.2M2022+14%2023: $34.9M$34.9M2023+15%2024: $38.4M$38.4M2024+10%2025: $33.9M$33.9M2025−12%
Gross profit78910116$20.9M in 2025+40% since 2019
0$10.0M$20.0M$30.0M2019: $15.0M$15.0M20192020: $16.1M$16.1M2020+7%2021: $17.7M$17.7M2021+11%2022: $15.3M$15.3M2022−14%2023: $20.2M$20.2M2023+32%2024: $24.2M$24.2M2024+20%2025: $20.9M$20.9M2025−14%
Operating income78910116-$33.2M in 2025−2% since 2019
-$80.0M-$60.0M-$40.0M-$20.0M02019: -$33.7M-$33.7M20192020: -$32.8M-$32.8M2020−3%2021: -$39.9M-$39.9M2021+21%2022: -$61.8M-$61.8M2022+55%2023: -$48.2M-$48.2M2023−22%2024: -$41.3M-$41.3M2024−14%2025: -$33.2M-$33.2M2025−20%
Net income78910116-$32.3M in 2025−2% since 2019
-$60.0M-$40.0M-$20.0M02019: -$32.8M-$32.8M20192020: -$32.5M-$32.5M2020−1%2021: -$34.8M-$34.8M2021+7%2022: -$59.8M-$59.8M2022+72%2023: -$46.0M-$46.0M2023−23%2024: -$39.0M-$39.0M2024−15%2025: -$32.3M-$32.3M2025−17%
Fiscal year2019202020212022202320242025
Revenue$23.0M7$24.0M8$26.5M9$30.2M10$34.9M11$38.4M6$33.9M6
Cost of revenue$8.0M7$7.9M8$8.8M9$14.9M10$14.7M11$14.2M6$13.0M6
Gross profit$15.0M7$16.1M8$17.7M9$15.3M10$20.2M11$24.2M6$20.9M6
Research and development$16.5M7$17.3M8$17.5M9$26.5M10$26.6M11$26.2M6$20.5M6
Operating income-$33.7M7-$32.8M8-$39.9M9-$61.8M10-$48.2M11-$41.3M6-$33.2M6
Income tax-$21.0K7$1.0K8$16.0K9$97.0K10$204.0K11$44.0K6$31.0K6
Net income-$32.8M7-$32.5M8-$34.8M9-$59.8M10-$46.0M11-$39.0M6-$32.3M6
Earnings per share-$2.797-$3.418-$2.119-$3.1210-$2.2611-$1.836-$1.496
Earnings per share (diluted)-$2.797-$3.418-$2.119-$3.1210-$2.2611-$1.836-$1.496

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The story

The company was founded by Geoff Rhoads in 1995.

In 1996, after initial venture funding, the company released its first product: a digital watermarking plug-in bundled with Adobe Photoshop, Corel and Micrografix software.

In 1997, Bruce Davis was appointed CEO and the company's first digital-watermarking patent was granted. Today, the company has nearly 1,100 innovations patented by the U.S. Patent and Trademark office.

In 1999, the company went public with an Initial Public Offering (IPO) which raised more than $90 million. That same year, the company contracted with a consortium of central banks to develop a global system used in deterring digital counterfeiting of currency.

In 2001, the company acquired a business division of Polaroid Corporation. Those assets led to the establishment of Digimarc ID Systems®, a division of the company that would eventually focus on protecting the authenticity of driver licenses in 37 states, which was sold off in 2008.

In 2004, the company was named one of the 25 fastest growing companies by Forbes magazine.

In 2015, the company received a Technology and Engineering Emmy Award for Steganographic Technologies for Audio/Video in the entertainment industry.

In 2017, the company was issued over 100+ new patents for innovations in watermark application and verification, augmented reality, and machine learning. That same year, the company opened offices in Cologne, Germany and Tokyo, Japan.

Read the full text

In 2021, CEO Bruce Davis retired and was succeeded by Riley McCormack who had previously served as Lead Director of the Digimarc Board. The company entered semi-industrial trials as part of the Digital Watermarks Initiative HolyGrail 2.0., an initiative that pulled together 100 companies focused on reducing plastic waste. In November, the company announced its plan to acquire EVRYTHNG, a software company based in London that specializes in providing products with a digital record on the web.

In 2022, the company's digital watermarks received a 99% detection rate during a semi-industrial trial as part of the HolyGrail 2.0 initiative.

From Wikipedia’s article on Digimarc, shared under CC BY-SA 4.0.4

Leadership

Who has led Digimarc, and when. Pick a name to see everywhere that person has worked.

Employees over time

  • 20192161

Timeline

  1. Apr 15, 2005Went public Listed on NASDAQ1
  2. 1995Founded Founded1

Recent filings

  1. May 18, 20268-K
  2. May 18, 20264
  3. May 18, 20264
  4. May 18, 20264
  5. May 18, 20264
  6. May 13, 202610-Q
  7. May 12, 20268-K
  8. May 4, 20264
  9. May 1, 20264
  10. May 1, 20264
  11. May 1, 20264
  12. May 1, 20264
  13. May 1, 20264
  14. May 1, 20264
  15. Apr 30, 20268-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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    Company websiteDigimarc photo
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