Business
Digimarc Reports First Quarter 2020 Financial Results
BEAVERTON, Ore., April 29, 2020 /PRNewswire/ -- Digimarc Corporation (NASDAQ: DMRC), creator of the Digimarc Platform for automatic identification, reported
About this update from Digimarc Corporation
[{"type":"text","content":"BEAVERTON, Ore., April 29, 2020 /PRNewswire/ -- Digimarc Corporation (NASDAQ: DMRC), creator of the Digimarc Platform for automatic identification, reported financial results for the first quarter ended March 31, 2020. \n\n \n \n \n \n \n \n\n \nFirst Quarter 2020 Financial Results Revenue for the first quarter of 2020 increased nine percent to $6.2 million compared to $5.7 million in the first quarter of 2019. The increase in revenue was primarily due to higher subscription revenue from Retail customers.\nOperating expenses for the first quarter of 2020 increased seven percent to $13.0 million compared to $12.2 million in the same quarter a year-ago. The increase in operating expenses was primarily due to higher headcount and routine annual compensation adjustments for employees.\nOperating loss for the first quarter of 2020 increased four percent to $9.1 million compared to $8.7 million in the first quarter of 2019. The increased operating loss was primarily due to higher operating expenses, partially offset by higher revenue.\nNet loss for the first quarter of 2020 increased five percent to $8.9 million or $(0.74) per diluted share compared to net loss of $8.5 million or $(0.74) per diluted share in the same quarter a year-ago. \nAt quarter-end, cash, cash equivalents and marketable securities totaled $30.6 million compared to $36.8 million at December 31, 2019. \nConference CallDigimarc will hold a conference call today (Wednesday, April 29, 2020) to discuss these results, as well as provide an update on market conditions and execution of strategy. Chairman and CEO Bruce Davis and CFO Charles Beck will host the call starting at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). A question and answer session will follow management's presentation.\nThe conference call will be broadcast live and available for replay here and in the investor section of the company's website. The conference call script will also be posted to the company's website shortly before the call.\nFor those who wish to listen to the call via telephone, please dial the number below at least five minutes prior to the scheduled start time: \nToll-Free Number: 866-562-9934International Number: 706-679-0638Conference ID: 7861309\nIf you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 949-574-3860.\nAbout Digi...