The following is a summary of the Digimarc Corporation (DMRC) Q2 2024 Earnings Call Transcript:
Financial Performance:
Digimarc reported a 44% increase in Annual Recurring Revenue (ARR) year-over-year, reaching $23.9 million.
Subscription revenue grew 39% year-over-year, making up 61% of total revenue for the quarter.
Non-GAAP net loss decreased 14%, showing improved financial health.Free cash flow usage decreased to $6.9 million from $7.9 million in the same period last year.
Business Progress:
Launched the Center of Expertise (CoE) program which led to the first CoE-sourced contract during the quarter.
Engaged in expanded conversations for the rollout of Digimarc Recycle in Europe and other regions.
Initiated a new market opportunity for protective solutions against gift card fraud with significant ARR potential.
Opportunities:
Expanded efforts in ecosystem-driven opportunities like Digimarc Retail Experience and Digimarc Recycle, which are expected to drive rapid adoption.
Newly introduced gift card protection market presents a TAM of potentially over $1.5 billion in the US alone, with prospects for global expansion.
More details: Digimarc IR
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