Business
Digimarc Reports Fourth Quarter and Full Year 2019 Financial Results
BEAVERTON, Ore., Feb. 26, 2020 /PRNewswire/ -- Digimarc Corporation (NASDAQ: DMRC), creator of the Digimarc Platform for digital identification and detection,
About this update from Digimarc Corporation
[{"type":"text","content":"BEAVERTON, Ore., Feb. 26, 2020 /PRNewswire/ -- Digimarc Corporation (NASDAQ: DMRC), creator of the Digimarc Platform for digital identification and detection, reported financial results for the fourth quarter and full year ended December 31, 2019. \n\n \n \n\n \nFourth Quarter 2019 Financial Results Revenue for the fourth quarter of 2019 increased two percent to $5.3 million compared to $5.2 million in the fourth quarter of 2018. The increase in revenue was primarily due to higher subscription revenue, partially offset by lower service revenue due to timing of program work.\nOperating expenses for the fourth quarter of 2019 increased nine percent to $12.4 million compared to $11.4 million in the same quarter a year-ago. The increase in operating expenses was primarily due to routine annual compensation and benefits adjustments for employees and increased headcount.\nOperating loss for the fourth quarter of 2019 increased seven percent to $8.9 million compared to $8.3 million in the fourth quarter of 2018. The increased operating loss was primarily due to higher operating expenses.\nNet loss for the fourth quarter of 2019 increased eight percent to $8.7 million or $(0.73) per diluted share compared to net loss of $8.0 million or $(0.70) per diluted share in the same quarter a year-ago. \nAt quarter-end, cash, cash equivalents and marketable securities totaled $36.8 million compared to $42.8 million at September 30, 2019. \nFull Year 2019 Financial Results Revenue for the full year 2019 increased eight percent to $23.0 million, compared to $21.2 million in 2018. The increase in revenue was primarily due to higher subscription revenue reflecting higher Digimarc Discover and Digimarc Barcode revenue, partially offset by lower Digimarc Guardian revenue.\nOperating expenses for the full year 2019 increased five percent to $48.7 million compared to $46.3 million in 2018. The increase in operating expenses was primarily due to routine annual compensation and benefits adjustments for employees.\nOperating loss for the full year 2019 increased one percent to $33.7 million compared to an operating loss of $33.5 million in 2018. The increased operating loss was primarily due to higher operating expenses, partially offset by higher revenue. \nNet loss for the full year 2019 increased one percent to $32.8 million or $(2.79) per diluted share,...