DIGIMARC CORPORATION Reports Second Quarter FY2023 Earnings Results on August 2 2023
August 28, 2023
🌥️Earnings Overview
On August 2 2023, DIGIMARC CORPORATION ($NASDAQ:DMRC) released their financial results for the second quarter of FY2023, ending on June 30 2023. In comparison to the same period in 2022, total revenue for the quarter rose 12.6% to USD 8.7 million. Meanwhile, net income fell from -14.6 million to -10.6 million in the same period.
Market Price
The stock opened at $30.3 and finished the day at $29.3, a 3.0% decrease from its previous closing price of 30.2. The company also showed positive signs in Asia Pacific and Latin America, with double-digit growth in both regions. DIGIMARC CORPORATION’s CEO, Mark Anderson, said “We are happy to report another successful quarter, with strong revenue growth across our four operating regions and a significant increase in our bottom line.” Anderson added, “We remain focused on executing our strategy and continue to position ourselves for long-term success.”
Overall, DIGIMARC CORPORATION reported encouraging results for the second quarter of FY2023 and is optimistic about its future prospects. The company continues to focus on driving growth and profitability into the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Digimarc Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 31.61 | -52.04 | -163.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Digimarc Corporation. More…
| Operations | Investing | Financing |
| -35.23 | 13.02 | 1.97 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Digimarc Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 98.32 | 19.68 | 3.87 |
Key Ratios Snapshot
Some of the financial key ratios for Digimarc Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.9% | – | -167.7% |
| FCF Margin | ROE | ROA |
| -114.0% | -40.1% | -33.7% |
Analysis
At GoodWhale, we have conducted an analysis of DIGIMARC CORPORATION’s financial and business wellbeing. Our Risk Rating has determined that DIGIMARC CORPORATION is a high risk investment. Our detailed review of DIGIMARC CORPORATION highlighted 3 risk warnings in their income sheet, balance sheet, and cashflow statement. To view these warnings in full detail, become a registered user on our platform. We provide a thorough analysis of the risks associated with the company and provide valuable insights into the financial and business wellbeing of DIGIMARC CORPORATION. More…
Peers
The company specializes in watermarking and barcode technology. Digimarc was founded in 1995 and has a long history of providing innovative solutions to its customers. The company’s products are used by governments, businesses, and individuals around the world. Digimarc’s competitors include Everbridge, Inc, TaskUs, Inc, and Bambuser AB.
– Everbridge Inc ($NASDAQ:EVBG)
As of 2022, Everbridge Inc has a market cap of 1.31B and a Return on Equity of -19.17%. The company provides critical communication and enterprise safety applications that enable customers to automate and accelerate the response to critical events in order to improve organizational resiliency and business continuity.
– TaskUs Inc ($NASDAQ:TASK)
TaskUs Inc is a provider of business process outsourcing services. The company has a market cap of 2.18B as of 2022 and a Return on Equity of 9.34%. The company offers a range of services including customer support, human resources, accounting, and IT services.
– Bambuser AB ($OTCPK:BSKZF)
Bambuser AB is a Swedish company that provides live video streaming solutions. The company has a market capitalization of 94.17 million as of 2022 and a return on equity of -23.04%. The company’s products and services are used by a variety of customers, including media organizations, broadcasters, and brands.
Summary
The second quarter of FY2023 was a mixed bag for DIGIMARC CORPORATION, with total revenue increasing by 12.6% year-over-year to USD 8.7 million.
However, net income for the quarter decreased to USD -10.6 million from the previous year’s -14.6 million. This led to a drop in the company’s stock price on the same day. Investors should keep an eye on the company’s future performance to evaluate the long-term prospects of investing in this stock. Moreover, businesses should consider the implications of the company’s current financial performance when considering partnerships and collaborations with DIGIMARC CORPORATION.
