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Digimarc Corporation

DMRC Technology Software Application

Digimarc Corporation’s revenue for fiscal 2025 (year ended December 2025) was $33.9 million, down 11.7% from fiscal 2024.

Revenue
−7.77%
EPS
−42.1%
Free cash flow
+80.9%

Quarter to June 2026, against a year earlier

7.72 0.35 +4.75%
Market cap
$199.3M
P/E
0.0×
Fwd P/E
−4.9×
Dividend yield
—
F-score
3/9
Altman Z
−4.56
Beneish M
−4.25
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 1.20
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — 1 — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 199.34
Revenue ttm 31.50
Net income ttm (31.46)
Free cash flow ttm (5.29)
Net debt Q (8.75)
Valuation
P/E 0.00
Forward P/E (4.87) (negative: loss-making)
Price / sales 5.45
Forward P/S Powerpack
Price / FCF 0.00
Price / book 5.84
Financial health
Current ratio Q 1.43
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q —
Growth
Revenue growth Q −7.77% (below 0%: shrinking)
Operating income growth Q −46.74% (below 0%: shrinking)
EPS, this year −6.38% (below 0%: weak)
EPS, next year A +17.67% (at or above 15%: strong)
Revenue, next year A −18.38% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +15.00% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.2×, against a ten-year median of 11.4×; over the ten years it ranged from 2.4× in 2026 to 31.7× in 2021.
P/S against its own 10 years 7.92%
10-year low 10-year high
P/B against its own 10 years 56.49%
10-year low 10-year high
EV/Sales against its own 10 years 8.47%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 27 29 13 9
Receivables 6 6 7 6
Inventory — — — —
Other 4 4 2 3
37 39 21 18
2023 2024 2025 Q'26
Payables 7 5 4 8
ST’ Debt — — — —
Other — — — —
13 9 8 12

Compound Annual Growth %

10y 5y 3y
Sales 4.33% 7.17% 3.94%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (2.43%) (13.66%) (25.58%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY19 Estimate −0.71 Actual −0.65

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY18 −0.74 −0.73 Beat by 0.01
Q4 FY18 −0.77 −0.70 Beat by 0.07
Q1 FY19 −0.72 −0.74 Miss by 0.02
Q3 FY19 −0.71 −0.65 Beat by 0.06

EPS $

Mar Jun Sep Dec Year
’26 (0.32) (0.54) — — —
’25 (0.55) (0.38) (0.38) (0.19) (1.49)
’24 (0.50) (0.43) (0.50) (0.40) (1.83)
’23 (0.70) (0.53) (0.53) (0.52) (2.26)
’22 (1.03) (0.75) (0.76) (0.62) (3.12)
’21 (0.50) (0.94) (0.17) (0.50) (2.11)
’20 (0.74) (0.62) (0.68) (1.27) (3.41)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 8 7 — — —
’25 9 8 8 9 34
’24 10 10 9 9 38
’23 8 9 9 9 35
’22 7 8 8 7 30
’21 7 6 6 7 27
’20 6 6 6 6 24
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (2) (1) — — —
’25 (5) (5) (3) 1 (12)
’24 (8) (7) (7) (4) (27)
’23 (9) (8) 0 (5) (22)
’22 (12) (14) (11) (8) (44)
’21 (6) (6) (6) (8) (26)
’20 (6) (4) (5) (5) (20)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (2) (1) — — —
’25 (6) (5) (3) 1 (13)
’24 (9) (7) (7) (4) (27)
’23 (9) (8) 0 (6) (23)
’22 (13) (14) (12) (8) (46)
’21 (7) (7) (7) (8) (28)
’20 (6) (5) (6) (5) (22)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 22 25 21 23 24 27 30 35 38 34 32 +5.0% 28 29 — (7.0%)
Gross margin, % 61.01 66.06 60.24 65.04 66.93 66.90 50.74 57.86 63.09 61.62 60.13 +0.6 pt
EBT (22) (26) (32) (33) (33) (35) (60) (46) (39) (32) (31) +4.5%
EBT margin, % (99.40) (103.03) (153.20) (142.77) (135.62) (131.01) (197.71) (131.29) (101.43) (95.18) (99.84) +4.2 pt
Net income (22) (26) (33) (33) (33) (35) (60) (46) (39) (32) (31) +4.5%
Per share, $
Per share, $ Revenue 2.37 2.39 1.87 1.95 1.86 1.61 1.58 1.71 1.81 1.57 1.41 (4.5%)
Earnings (2.36) (2.44) (2.86) (2.79) (3.41) (2.11) (3.12) (2.26) (1.83) (1.49) (1.43) (5.0%)
Cash flow (1.51) (1.67) (1.87) (1.85) (1.54) (1.59) (2.32) (1.08) (1.25) (0.54) (0.19) (10.7%)
Capex (0.29) (0.28) (0.18) (0.15) (0.13) (0.10) (0.08) (0.04) (0.03) (0.06) (0.05) (16.5%)
Free cash flow (1.79) (1.95) (2.05) (1.99) (1.67) (1.68) (2.40) (1.12) (1.28) (0.60) (0.24) (11.5%)
Book value 7.98 7.79 4.98 4.20 6.50 3.36 5.10 3.05 2.89 1.86 1.32 (15.0%)
Shares, m 9 11 11 12 13 16 19 20 21 22 22 +10.0%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S 12.50 14.88 7.77 17.17 25.41 24.51 11.68 20.66 20.73 4.19 5.45 16.0
P/B 3.72 4.56 2.91 7.99 7.28 11.75 3.62 11.64 12.99 3.54 5.84 7.0
EV/Sales 9.92 12.20 5.71 15.68 22.22 23.26 9.95 19.89 19.98 3.82 5.18 14.3
EV/FCF (12.52) (14.35) (5.05) (14.97) (24.03) (21.80) (6.47) (29.80) (27.68) (9.57) (28.06) (16.6)
Cash, $m
Cash, $m Operating cash flow (14) (18) (21) (22) (20) (26) (44) (22) (27) (12) (4) (1.8%)
Capex (3) (3) (2) (2) (2) (2) (1) (1) (1) (1) (1) (8.1%)
Free cash flow (16) (21) (23) (23) (22) (28) (46) (23) (27) (13) (5) (2.6%)
Balance, $m
Balance, $m Working capital 58 71 45 38 74 36 54 25 30 13 5 (15.4%)
Net debt (56) (68) (44) (34) (77) (33) (53) (27) (29) (13) (9) (15.1%)
Shareholders’ equity 73 82 57 49 84 55 98 62 61 40 29 (6.5%)
Returns, %
Returns, % ROA (32.08) (30.84) (43.30) (55.11) (56.96) (42.94) (66.94) (47.30) (49.91) (50.20) (58.99) (18.1) pt
ROIC (79.65) (113.65) (161.68) (139.91) (283.69) (112.98) (85.75) (86.72) (79.12) (75.75) (97.17) +3.9 pt
ROE (34.76) (33.13) (46.82) (61.98) (66.04) (49.97) (78.23) (57.66) (63.34) (63.67) (82.93) (28.9) pt
People
People Employees 180 207 213 216 203 228 277 248 215 110 — (5.3%)
Revenue/emp, $m 0.12 0.12 0.10 0.11 0.12 0.12 0.11 0.14 0.18 0.31 — +10.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Digimarc Corporation vs peers in Software Application (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GLOO Gloo Holdings, Inc. $247.1M — (loss-making) — (loss-making) +187.97% (above 0%: growing) n/m +49.40% (above 0%: growing) 36.02% (44.02%) Compare
SVCO Silvaco Group, Inc. $228.1M — (loss-making) — (loss-making) −12.74% (below 0%: shrinking) n/m +90.45% (above 0%: growing) 83.99% (26.33%) Compare
KLTR Kaltura, Inc. $225.8M — (loss-making) — (loss-making) +5.47% (above 0%: growing) n/m −206.36% (below 0%: shrinking) 73.65% (1.65%) Compare
IMMR Immersion Corporation $221.5M 19.3× 26.5× +0.81% (above 0%: growing) n/m +27.93% (above 0%: growing) 20.51% (6.79%) Compare
CURR Currenc Group Inc. $208.8M — (loss-making) — (loss-making) −21.81% (below 0%: shrinking) n/m +36.06% (above 0%: growing) 42.74% (46.55%) Compare
EXFY Expensify, Inc. $203.3M — (loss-making) — (loss-making) −5.83% (below 0%: shrinking) n/m −200.52% (below 0%: shrinking) 45.22% (8.10%) Compare
DMRC Digimarc Corporation $199.3M — (loss-making) — (loss-making) −7.77% (below 0%: shrinking) n/m +80.94% (above 0%: growing) 58.20% (167.35%)
DHX DHI Group, Inc. $186.7M 23.2× 21.8× +0.36% (above 0%: growing) n/m +67.44% (above 0%: growing) 79.17% 11.98% Compare
MRT MARTI TECH INC $167.8M — (loss-making) — (loss-making) — n/m +152.22% (above 0%: growing) 76.55% (0.68%) Compare
Median of peers $215.2M — — +0.36% — +42.73% 59.44% (7.44%)

All 230 Software Application stocks →

Digimarc Corporation (DMRC) Latest News

27 Oct

Impact 3 · · Business Wire

26 Oct

Impact 4 · · Business Wire

7 Oct

Impact 4 · · Business Wire

27 Aug

Impact 3 ·

20 Aug

Impact 3 · · The Motley Fool transcript

14 Aug

Impact 3 · · Moby transcript

13 Aug

Impact 3 · · MarketBeat transcript

6 Jul

Impact 3 ·

16 Jun

Impact 4 ·

8 Jun

Impact 4 · · Business Wire

28 May

Impact 4 · · Business Wire

15 May

Impact 3 · · IPO-Edge.com

13 May

Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby
Impact 4 · · GuruFocus.com

12 May

Impact 4 · · Business Wire
Impact 3 · · MarketBeat

8 May

Impact 3 · · Simply Wall St.

16 Mar

Impact 4 · · GuruFocus.com
Impact 4 · · MarketBeat

11 Mar

Impact 4 · · GuruFocus.com
Impact 4 · · Moby
Impact 4 · · Associated Press Finance
Impact 4 · · Business Wire
Impact 3 · · MarketBeat

21 Jan

Impact 4 · · Business Wire

20 Jan

Impact 3 · · Simply Wall St.

6 Jan

Impact 3 · · Simply Wall St.

16 Dec

Impact 4 ·

15 Dec

Impact 4 · · Simply Wall St.Simply Wall St.Footwear NewsFootwear NewsGuruFocus.comInsider MonkeyRetail Banker International
stockrow.com/DMRC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com