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Digimarc Corporation (symbol: DMRC), based in Beaverton, Oregon, is a leading innovator and technology provider, empowering businesses and governments worldwide to enhance everyday living through advanced identification solutions. Digimarc's cutting-edge technologies enable the identification of various forms of content, including print, packaging, audio, video, and digital imagery.
The company's core offerings include the Digimarc Barcode and Digimarc Discovery platforms, which create a seamless way for computers and digital devices to interact with the world in a manner similar to human perception. This breakthrough allows consumers and organizations to access digital content effortlessly and intuitively.
Digimarc's technologies are embedded in tens of billions of objects globally, facilitating easy access to product information and digital content. The company’s flagship product, the Digimarc Illuminate platform, is a Software as a Service (SaaS) cloud-based solution that provides tools for applying digital watermarks and dynamic Quick Response (QR) codes. This platform includes software for digital twins, which enable various systems and devices to interact with these data carriers, and a centralized system for capturing insights about digital interactions and automating activities based on this information.
Revenue for Digimarc Corporation is generated through a combination of software development services, product subscriptions, related services, and patent licensing. The company's recent achievements include expanded partnerships and increased adoption of its technologies across diverse industries.
With a unified vision to enrich everyday living through pervasive and intuitive computing, Digimarc continually pushes the boundaries of digital connectivity by fostering more efficient and engaging interactions between digital devices and the physical world.
Digimarc (NASDAQ: DMRC) has appointed Katie Kool as the new Chairperson of its Board of Directors, effective June 10, 2024. Kool, who has served on Digimarc's board since 2022, succeeds Alicia Syrett. With a distinguished career in leading major brands, including Tide Cleaners and North America Fabric Care at Procter & Gamble, Kool brings extensive experience in driving strategic growth and collaboration.
As CEO of Tide Cleaners, Kool expanded the business from 35 to 191 stores, achieving top 100 rankings in Entrepreneur's Franchise 500 for three consecutive years. In her role as CFO of North America Fabric Care, she helped grow the business by $1.5 billion in sales. Kool's appointment aims to guide Digimarc through its next phase of transformative growth and innovation in digital watermarking technologies.
Digimarc and Wipak have announced a strategic partnership to enhance sustainability and profitability in the food, medical device, and pharmaceutical industries. By integrating Digimarc's digital watermarking technology with Wipak's printed film technology, the companies aim to reduce plastic pollution and advance towards net-zero goals. This collaboration offers eco-friendly packaging solutions made from responsibly sourced materials, designed for recycling and reuse. Digimarc Recycle improves the quality and quantity of recycled plastics, meeting regulatory demands and boosting data insights for businesses. The partnership leverages digital watermarks to enhance product lifecycle management, supply chain inspections, and customer interactions, providing significant ROI and sustainability benefits.
Digimarc (NASDAQ: DMRC) has launched Digimarc Automate, an automated product inspection solution leveraging advanced digital watermarking technology. This solution aims to enhance accuracy, efficiency, and quality assurance while reducing waste and costs in production, fulfillment, and distribution environments.
Unlike traditional product codes, Digimarc Automate embeds imperceptible digital watermarks across packaging, allowing standard vision systems to scan and track products comprehensively. This technology maintains brand aesthetics, works on various product shapes, and performs reliably under tough industrial conditions, making it a game-changer for automated product inspections.
Digimarc Automate is particularly advantageous in high-speed manufacturing, reducing errors in multi-variant products, and overcoming the limitations and risks associated with manual inspections. The technology also addresses issues like product recalls and consumer safety, especially concerning allergen labeling.
Digimarc (NASDAQ: DMRC) has partnered with OMRON to enhance industrial automation by combining Digimarc's digital watermarking with OMRON's machine vision technology. This partnership aims to boost efficiency, compliance, and sustainability in manufacturing processes. The collaboration helps manufacturers prevent labeling errors, increase production speed, and improve packaging recycling. The integrated solution also supports product authentication and customer loyalty programs, providing long-term value for brands. This initiative addresses growing industry demands for quality and sustainable packaging solutions.
Digimarc (NASDAQ: DMRC) has launched its Center of Expertise (CoE) program to support its partners with internal expertise, best practices, and access to Digimarc technology. The program aims to facilitate the adoption of digital identification, authentication, and engagement solutions.
CoE members, including major industry players like Avery Dennison and HP, will address challenges such as counterfeits, plastics recycling, and supply chain efficiency. The program offers specialized product training, hands-on demos, and targeted sales support to empower go-to-market teams.
According to Tom Benton, Digimarc’s Chief Revenue Officer, the CoE program provides unprecedented access to technology experts and hands-on training, positioning partners to support customers in their digital transformation journeys. The technology uniquely connects physical and digital assets, enhancing product packaging and consumer engagement solutions.
Digimarc (NASDAQ: DMRC) has announced the appointment of Carle Quinn as Chief People Officer (CPO). Quinn, who has extensive experience from reputable companies like SAP, Citrix, IBM, GE, and QVC, will lead global human resources, fostering organizational resilience and optimizing performance. Known for her strategic alignment of business objectives with workforce empowerment, Quinn's role is set to drive Digimarc’s growth and industry leadership in digital watermarking technologies. CEO Riley McCormack emphasized Quinn's expertise in leveraging digital technologies to enhance employee engagement and satisfaction as key to Digimarc's innovative culture.
Digimarc reported strong financial results for the first quarter of 2024, with an 85% increase in Annual Recurring Revenue and a 7.5% expansion in subscription gross profit margin. The company saw growth in commercial subscription revenue and total revenue, with improved gross profit margins. Operating expenses decreased, leading to a lower net loss compared to the same period last year. Digimarc's focus on achieving high growth and operating margins was evident in the Q1 results.
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