July 24, 2019 Digimarc Corporation (NASDAQ: DMRC), reported financial results for the second quarter ended June 30, 2019.
Second Quarter 2019 Financial Results
Revenue for the second quarter of 2019 totaled $6.2 million compared to $5.4 million in the second quarter of 2018. The increase in revenue was due to higher subscription and service revenue.
Operating expenses for the second quarter of 2019 totaled $12.1 million compared to $11.5 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 second quarter of 2019 totaled $8.2 million compared to $8.3 million in the second quarter of 2018. The lower operating loss was primarily due to higher revenue, partially offset by higher operating expenses.
Net loss for the second quarter of 2019 totaled $7.9 million or $(0.68) per diluted share compared to net loss of $8.0 million or $(0.71) per diluted share in the same quarter a year-ago.
At quarter-end, cash, cash equivalents and marketable securities totaled $50.0 million, compared to $37.5 million at March 31, 2019. The increase in cash, cash equivalents and marketable securities was primarily due to the sale of 336 thousand shares of common stock during the quarter, which generated cash net proceeds of $19.6 million.
See the full news release here.
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