Business
Digimarc Reports Third Quarter 2021 Financial Results
BEAVERTON, Ore., Nov. 15, 2021 /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., Nov. 15, 2021 /PRNewswire/ -- Digimarc Corporation (NASDAQ: DMRC) creator of the Digimarc Platform for digital identification and detection, reported financial results for the third quarter ended September 30, 2021.\n\n \n \n \n \n \n \n\n \nDigimarc Corporation today reported financial results for the third quarter ended September 30, 2021.Third Quarter 2021 Financial Results Revenue for the third quarter of 2021 increased 12% to $6.4 million compared to $5.8 million in the third quarter of 2020, reflecting higher revenue from Commercial and Government services.\nOperating expenses for the third quarter of 2021 remained flat at $12.2 million compared to the same quarter a year-ago, primarily as a result of increased consulting and recruiting costs, offset by severance costs incurred in the third quarter of 2020 related to organizational changes we made in July 2020.\nOperating loss for the third quarter of 2021 decreased 5% to $8.0 million compared to $8.4 million in the third quarter of 2020, due to higher revenue.\nOther income, net for the third quarter of 2021 was $5.1 million, reflecting a $5.1 million gain realized on the forgiveness of our Paycheck Protection Program loan during the third quarter.\nNet loss for the third quarter of 2021 was $2.9 million or $(0.17) per diluted share compared to net loss of $8.4 million or $(0.68) per diluted share in the same quarter a year-ago. Excluding the $5.1 million gain noted above, net loss was $8.0 million or $(0.48) per diluted share.\nAt September 30, 2021, cash, cash equivalents, short- and long-term marketable securities totaled $52.5 million compared to $77.7 million at December 31, 2020. \nConference callDigimarc will hold a conference call today (Monday, November 15, 2021) to discuss these results and provide an update on market conditions and execution of strategy. CEO Riley McCormack, CFO Charles Beck and CLO Robert Chamness will host the call starting at 8:00 a.m. Eastern time (5:00 a.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 call in via telephone to ask a question,...