数字标识 2025年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the quarterly period endedMarch 31, 2025 Commission File Number:001-34108 DIGIMARC CORPORATION (Exact name of registrant as specified in its charter) 26-2828185(I.R.S. EmployerIdentification No.) Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of RegulationS-T during the preceding 12months (or for such shorter period that the registrant was Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See definitions of “large accelerated filer,”“accelerated filer,”“smaller If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in rule12b-2 of the Exchange As of April 30, 2025, therewere21,552,001shares of the registrant’s common stock, par value $0.001 per share, outstanding. Table of Contents PART I. FINANCIAL INFORMATION Item1.Financial Statements (Unaudited):3Consolidated Balance Sheets as of March 31, 2025 and December31, 20243Consolidated Statements of Operations and Comprehensive Loss for thethree months ended March Consolidated Statements of Shareholders’Equity for thethree months ended March 31, 2025 and2024 Consolidated Statements of Cash Flows for thethree months ended March 31, 2025and 2024Notes to Consolidated Financial StatementsItem2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem4.Controls and Procedures PART II. OTHER INFORMATION Item1.Legal ProceedingsItem1A DIGIMARC CORPORATIONCONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)(UNAUDITED) DIGIMARC CORPORATIONNOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1.Description of Business and Significant Accounting Policies Description of Business Digimarc, an Oregon corporation, is a pioneer and global leader in digital watermarking technologies. For nearly30years,Digimarc innovations and intellectual property in digital watermarking have been deployed in solutions built upononeor both of thefollowingtwothings: the identification and the authentication of physical and digital items, often at massive scale, and often where The Digimarc Illuminate platform is a distinctive software as a service (“SaaS”) cloud-based platform for digital connectivitythat provides the tools for the application of advanced digital watermarks and dynamic Quick Response (“QR”) codes, software(digital twins) that enables various systems and devices to interact with those data carriers, and a centralized platform for capturing The Digimarc product suite is built on top of the Digimarc Illuminate platform to power a trusted and scalable ecosystem thatcan address specific business needs in areas like automation, authenticity, sustainability, and customer trust and connectivity. All ofthe Company’s products are complementary to each other, providing exponential benefits when combined. By enabling customers tocreate and connect digital twins to physical and digital items, Digimarc’s products provide many benefits including: •Digimarc Automateimproves product inspection by embedding imperceptible digital watermarks into products, labels,and packaging, which are detectable by standard vision systems. This significantly reduces mixing errors andmislabeling, ensuring higher accuracy and efficiency in production, fulfillment, and distribution facilities withoutadditional costs for special inks or hardware. By enabling real-time data analysis and minimizing human error, Digimarc •DigimarcEngageactivates products and multimedia to create and leverage an interactive, fully owned communicationschannel directly with consumers. Digimarc delivers dynamic,GS1Digital Link-compliant QR codes and hyperlinks thatprovide contextual redirection capabilities for multiple consumer experiences (including personalized and automatedloyalty and rewards programs) based on a variety of factors such as time and location or previous behavior. Connecting •Digimarc Recycleincreases the quality and quantity of recycled materials by digitizing products and packaging withdigital watermarking technology. Coupled with consumer engagement capabilities, brands can leverage a direct, digitalcommunications channel. Plus, Digimarc Recycle creates a cloud-based