Digimarc Corp Files 2023 Annual Report on Form 10-K

TL;DR

<b>Digimarc Corp has filed its annual 10-K report for the fiscal year ending December 31, 2023, providing a comprehensive overview of its financial performance and business operations.</b>

AI Summary

Digimarc CORP (DMRC) filed a Annual Report (10-K) with the SEC on February 29, 2024. Digimarc Corp filed its 2023 10-K report on February 29, 2024. The report covers the fiscal year ending December 31, 2023. The company is incorporated in Oregon and headquartered in Beaverton. The SIC code for Digimarc Corp is 7373 (Services-Computer Integrated Systems Design). The filing includes financial data for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking Digimarc CORP, this filing contains several important signals. The 10-K filing provides investors with detailed financial statements, management's discussion and analysis, and risk factors, enabling informed investment decisions. This annual report is crucial for understanding Digimarc's financial health, strategic direction, and potential challenges in the coming fiscal year.

Risk Assessment

Risk Level: — Digimarc CORP shows moderate risk based on this filing. The filing is a standard annual report and does not contain immediate red flags, indicating a routine disclosure of financial information.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to assess Digimarc's financial health and future prospects.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-29 — Filing Date (FILED AS OF DATE)
• 7373 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• 262828185 — IRS Number (IRS NUMBER)

Key Players & Entities

• Digimarc CORP (company) — FILER
• OR (location) — STATE OF INCORPORATION
• BEAVERTON (location) — CITY
• OR (location) — STATE
• DMRC CORP (company) — FORMER COMPANY

FAQ

Industry Context

Digimarc Corp operates in the Computer Integrated Systems Design industry, providing services related to system design and integration.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit annual reports.

What Investors Should Do

1. Review Digimarc's financial statements for the fiscal year ended December 31, 2023.
2. Analyze the risk factors section for potential business challenges.
3. Compare key financial metrics with previous fiscal years.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-29: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year ending December 31, 2023, following previous filings for prior fiscal periods.

Key Financial Figures

• $0.001 — nge on Which Registered Common Stock, $0.001 Par Value Per Share DMRC The NASDAQ
• $32 m — l solutions provider is worth more than $32 million, with the potential to grow signi
• $43.7 million — er 31, 2023, will generate a minimum of $43.7 million in future revenue, compared to $44.2 mi
• $44.2 million — million in future revenue, compared to $44.2 million as of December 31, 2022. The slight dec
• $27.1 million — uring the year. We expect approximately $27.1 million of the $43.7 million to be recognized

Filing Documents

• dmrc20231231d_10k.htm (10-K) — 1930KB
• ex_627963.htm (EX-10.30) — 28KB
• ex_627964.htm (EX-10.31) — 21KB
• ex_606392.htm (EX-21.1) — 5KB
• ex_606393.htm (EX-23.1) — 2KB
• ex_606394.htm (EX-31.1) — 13KB
• ex_606395.htm (EX-31.2) — 13KB
• ex_606396.htm (EX-32.1) — 5KB
• ex_606397.htm (EX-32.2) — 5KB
• ex_627493.htm (EX-97) — 40KB
• dmrcsigpage.jpg (GRAPHIC) — 54KB
• img01logo.jpg (GRAPHIC) — 2KB
• 0001437749-24-006115.txt (&nbsp;) — 9569KB
• dmrc-20231231.xsd (EX-101.SCH) — 97KB
• dmrc-20231231_cal.xml (EX-101.CAL) — 75KB
• dmrc-20231231_def.xml (EX-101.DEF) — 581KB
• dmrc-20231231_lab.xml (EX-101.LAB) — 526KB
• dmrc-20231231_pre.xml (EX-101.PRE) — 638KB
• dmrc20231231d_10k_htm.xml (XML) — 1443KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 5 Item 1B. Unresolved Staff Comments 13 Item 1C. Cybersecurity 13 Item 2.

Properties

Properties 13 Item 3.

Legal Proceedings

Legal Proceedings 13 Item 4. Mine Safety Disclosures 13 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 14 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 28 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 28 Item 9A.

Controls and Procedures

Controls and Procedures 28 Item 9B. Other Information 28 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 28 PART III Item 10. Directors, Executive Officers and Corporate Governance 29 Item 11.

Executive Compensation

Executive Compensation 29 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 29 Item 13. Certain Relationships and Related Transactions, and Director Independence 29 Item 14. Principal Accountant Fees and Services 29 Item 15. Exhibits and Financial Statement Schedules 30

SIGNATURES

SIGNATURES 33 Table of Contents PART I Unless the context otherwise requires, references in this Annual Report on Form 10-K to " Company, " " Digimarc, " " we, " " our " and " us " refer to Digimarc Corporation. All dollar amounts are in thousands except per share amounts or unless otherwise noted. The percentages within the tables may not sum to 100% due to rounding. Digimarc, Digimarc Barcode, The Barcode of Everything, Barcode of Everything, and the circle-d logo are registered trademarks of Digimarc Corporation. EVRYTHNG and EVRYTHNG PRODUCT CLOUD are registered trademarks of EVRYTHNG Limited, a wholly owned subsidiary of Digimarc.

: BUSINESS

ITEM 1: BUSINESS The following discussion of Digimarc ' s business contains forward-looking statements relating to future events or the future financial performance of Digimarc. Our actual results could differ materially from those anticipated in these forward-looking statements. Please see the discussion regarding forward-looking statements included in this Annual Report on Form 10-K in Item 7, Management ' s Discussion and Analysis of Financial Condition and Results of Operations, under the caption " Forward-Looking Statements. " The following discussion of our business should be read in conjunction with our consolidated financial statements and the related notes and other financial information appearing elsewhere in this Annual Report on Form 10-K. On January 3, 2022, the Company completed the acquisition of EVRYTHNG Limited and its subsidiaries ("EVRYTHNG"), a London-based product cloud company. Unless context otherwise requires, references to EVRYTHNG refer to EVRYTHNG Limited and its subsidiaries following the acquisition. Overview Digimarc, an Oregon corporation, is a pioneer and global leader in digital watermarking technologies. For nearly 30 years, Digimarc innovations and intellectual property in digital watermarking have been deployed in solutions built upon one or both of the following two things: the identification and the authentication of physical and digital items, often at massive scale, and often where other methods of identification or authentication don't work well or don't work at all. The Digimarc Illuminate platform is a distinctive software as a service ("SaaS") cloud-based platform for digital connectivity that provides the tools for the application of advanced digital watermarks and dynamic Quick Response ("QR") codes, software (digital twins) that enables various systems and devices to interact with those data carriers, and a centralized platform for capturing insights about digital interactions and automating activities based o

: RISK FACTORS

ITEM 1A: RISK FACTORS Our business, financial condition, results of operations and cash flows may be affected by a number of factors. The following risk factors identify risks of which we are aware and that we consider to be material to our business. If any of the following risks and uncertainties develops into actual events, our business, financial condition, results of operations or cash flows could be materially adversely affected. In that case, the trading price of our common stock could decline. RISKS RELATED TO OUR BUSINESS (1) As a purveyor of disruptive technology, if our partners and potential customers defer or delay adopting and imple

View Full Filing

View this 10-K filing on SEC EDGAR