Revenue for the third quarter of 2019 increased 19% to $5.8m, compared to $4.9m in the third quarter of 2018
Image: Digimarc has reported financial results for the third quarter ended 30 September 2019. Photo: courtesy of Thanks for your Like • donations welcome from Pixabay.
Digimarc Corporation, creator of the Digimarc Platform for digital identification and detection, reported financial results for the third quarter ended September 30, 2019.
Third Quarter 2019 Financial Results
Revenue for the third quarter of 2019 increased 19 percent to $5.8 million, compared to $4.9 million in the third quarter of 2018. The increase in revenue was due to higher subscription and service revenue.
Operating expenses for the third quarter of 2019 increased three percent to $11.9 million, compared to $11.6 million in the same quarter a year-ago. The increase in operating expenses was primarily due to routine annual compensation adjustments for employees.
Operating loss for the third quarter of 2019 decreased seven percent to $8.0 million, compared to $8.6 million in the third quarter of 2018. The lower operating loss was primarily due to higher revenue, partially offset by higher operating expenses.
Net loss for the third quarter of 2019 decreased seven percent to $7.8 million or $(0.65) per diluted share compared to net loss of $8.3 million or $(0.73) per diluted share in the same quarter a year-ago.
At quarter-end, cash, cash equivalents and marketable securities totaled $42.8 million, compared to $50.0 million at June 30, 2019.
Source: Company Press Release