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NASDAQ NMS - GLOBAL MARKET · Technology · CIK 0002119322
$7.27
+0.97% · live
Updated
$159.2M market value
From Digimarc Corp's FY2025 annual-report
Digimarc makes and sells software and computing services. It took in $33.9M last year, which makes it a small company. It spends more than it earns — losing about 95 cents on every dollar of sales.
The filing does not provide enough evidence for a clear financial conclusion.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
A published bankruptcy-risk model places it in its distress range. This is a statistical reading, not a forecast.
Altman Z-Score -22.84
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
Significant financial weakness across most measures.
From Digimarc Corp's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Operating margin
-106.1% → -97.2%
Free cash flow
-$27.2M → -$13.0M
Capital spending
$643.0K → $1.2M
Operating income
-$40.8M → -$33.0M
Measured against FY2024, from the annual-report
Improved: +8.8 pts
-106.1% to -97.2%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
How the latest move compares (quote live), and what was published around it
DMRC rose 0.97% on the latest quote. The average Technology company tracked here moved +0.41%, and the S&P 500 −0.47%. That is 0.6 points above its sector and 1.4 points above the market.
No filing from DMRC and no news item about it appeared in the last 3 days.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Opinions from 8 analysts covering this company, as of . Their views, not this site's.
Of 8 analysts publishing on this company, 2 say strong buy, 4 say buy and 2 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $32.3M last year, losing about 95 cents on every dollar of sales.
No. Sales shrank 11.7% last year.
It does not appear so. For every $1 it owes, it owns $4.16 in assets. A bankruptcy-risk model also places it in its distress range.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2025 annual filing
Last year it lost $32.3M and generated -$11.8M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY2025annual-report | FY2024annual-report | FY2023annual-report | FY2022annual-report | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|
| RevenueWhat is this? | $33.9M | $38.4M | $34.9M | $30.2M | −11.7% |
| Cost of revenue | $13.0M | $14.2M | $14.7M | $14.9M | −8.2% |
| Gross profit | $20.9M | $24.2M | $20.2M | $15.3M | −13.8% |
| Gross marginGross profit ÷ revenueWhat is this? | 61.6% | 63.1% | 57.9% | 50.7% | −1.5 pts |
| Selling, general and administrative | $32.4M | $38.2M | $40.5M | $48.7M | −15.2% |
| Operating income | -$33.0M | -$40.8M | -$47.3M | -$59.6M | +19.1% |
| Operating marginOperating income ÷ revenueWhat is this? | -97.2% | -106.1% | -135.6% | -197.5% | +8.8 pts |
| Income before tax | -$32.3M | -$39.0M | -$45.8M | -$59.7M | +17.2% |
| Net income | -$32.3M | -$39.0M | -$46.0M | -$59.8M | +17.2% |
| Net marginNet income ÷ revenueWhat is this? | -95.3% | -101.5% | -131.9% | -198.0% | +6.3 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $-1.48 | $-1.81 | $-2.26 | $-2.95 | +18.7% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Was granted or awarded shares — 1,073 shares at $5.82 ($6.2K)
Holds 40,506 shares after this filing.
Was granted or awarded shares — 1,396 shares at $5.82 ($8.1K)
Holds 39,161 shares after this filing.
8 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Signed a material agreement · Made a Regulation FD disclosure
Read the filingQuarterly report on Form 10-Q
Read the filingWrite down why you are following Digimarc Corp, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
Digimarc Gift Card Security Gains Momentum as More Than Two Dozen Retailers and Brands Pilot and Deploy the Solution
Yahoo ·
Trading Halt: Halt status updated at 10:10:00 AM ET: Quotation Resumption: IPO security released for quotation
Benzinga ·
Digimarc Announces Registered Direct Offering of Common Stock
Yahoo ·
12 Information Technology Stocks Moving In Wednesday's Intraday Session
Benzinga ·
Digimarc Commences ~$18.2M Common Stock Offering
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from DMRC's annual-report for fiscal year 2025 (period ending 2025-12-31), reported under the US GAAP taxonomy.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Every check behind the three models, and what each one tests
4 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
-22.84
In the distress zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Improved: $14.2M narrower
-$27.2M to -$13.0MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Changed: +90.4%
$643.0K to $1.2MCritical
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Improved: $7.8M narrower
-$40.8M to -$33.0MSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: $6.7M narrower
-$39.0M to -$32.3MSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +6.3 pts
-101.5% to -95.3%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: $0.34 narrower
-$1.81 to -$1.48Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -20.6%
$12.4M to $9.8MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: -11.7%
$38.4M to $33.9MNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Deteriorated: -13.8%
$24.2M to $20.9MNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: −1.5 pts
63.1% to 61.6%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: +1.9%
21.5M to 21.9MNotable
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Figures compare the two most recent annual filings. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 11.6% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Trailing P/E is not meaningful because the latest trailing earnings are zero or negative. The price-to-book and price-to-sales figures below still provide reference points.
This company has not reported enough of the required figures to calculate this score.
Was granted or awarded shares — 2,147 shares at $5.82 ($12.5K)
Holds 60,041 shares after this filing.
Was granted or awarded shares — 1,396 shares at $5.82 ($8.1K)
Holds 43,347 shares after this filing.
Was granted or awarded shares — 2,268 shares at $7.53 ($17.1K)
Holds 73,861 shares after this filing.
Had shares withheld to cover taxes — 1,353 shares at $7.53 ($10.2K)
Holds 72,508 shares after this filing.
Was granted or awarded shares — 2,617 shares at $7.53 ($19.7K)
Holds 183,454 shares after this filing.
Had shares withheld to cover taxes — 5,901 shares at $7.53 ($44.4K)
Holds 177,553 shares after this filing.
Was granted or awarded shares — 2,268 shares at $7.53 ($17.1K)
Holds 101,996 shares after this filing.
Had shares withheld to cover taxes — 2,697 shares at $7.53 ($20.3K)
Holds 99,299 shares after this filing.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Published results
Had a director or senior officer leave or join
Read the filingHad a director or senior officer leave or join · Reported another event
Read the filingSigned a material agreement · Had a director or senior officer leave or join · Reported another event
Read the filingAmended its charter or changed its financial year
Read the filingFORM 8-K12B
Read the filingBenzinga ·
Primary sources and further research