DMRCNasdaqServices-Computer Integrated Systems DesignFiscal year ends December 31
Digimarc Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 14, 2026
$7.13+0.45 (+6.74%)
Close on Oct 19, 2026
- Market cap
- $158.77M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
61.6%−5.3 pts over 5 years
Operating margin
-97.8%+39.0 pts over 5 years
Net margin
-95.3%+40.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -11.7% | +3.9% | +7.2% | +4.3% | |
| Gross profit | -13.8% | +10.9% | +5.4% | +4.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -34.7% | -48.8% | -63.6% | |
| Return on assets | -32.1% | -42.1% | -50.2% | |
| Current ratio | 14.15 | 8.58 | 2.56 | |
| Debt to equity | – | 0.01 | – | |
| Net debt to EBITDA | – | 0.59× | – | |
| Capex to revenue | 8.4% | 4.3% | 1.7% | |
| Diluted shares | 9M | 13M | 22M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Digimarc generated $130.87M from operations and spent $20.14M on capital expenditure, dividends and share buybacks. 15% of that went back into the business.
Generated
$130.87M
Used
$20.14M
Capital expenditure$3.00M15%Dividends$00%Share buybacks$17.15M85%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-95.3%
×Asset turnover0.53×
×Equity multiplier1.27×
=Return on equity, FY2025-63.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -95.3% | 0.53× | 1.27× | -63.6% |
| FY2024 | -101.5% | 0.49× | 1.27× | -63.3% |
| FY2023 | -131.9% | 0.36× | 1.22× | -57.6% |
| FY2022 | -198.0% | 0.34× | 1.17× | -78.2% |
| FY2021 | -131.1% | 0.33× | 1.16× | -49.9% |
| FY2020 | -135.6% | 0.31× | 1.16× | -48.8% |
| FY2019 | -142.9% | 0.39× | 1.12× | -61.9% |
| FY2018 | -153.4% | 0.28× | 1.08× | -46.8% |
| FY2017 | -102.2% | 0.30× | 1.07× | -33.1% |
| FY2016 | -99.4% | 0.32× | 1.08× | -34.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$32.31M
- Cash generatingOperating cash flow above zero-$11.78M
- Return on assets improvedROA up on the prior year-48.4% → -42.6%
- Earnings backed by cashOperating cash flow above net income-$11.78M vs -$32.31M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose4.30 → 2.56
- No dilutionShare count did not rise21M → 22M
- Gross margin improvedGross margin up on the prior year63.09% → 61.62%
- More efficientAsset turnover rose0.48 → 0.45