Company: DMRC
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005471
Chunk: 110

Company: Digimarc CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 110
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 Company’s revenue recognition process, including a control over the Company’s assessment of the contract terms and applicable revenue recognition requirements for new contracts. For a selection of new contracts, we read the contract and evaluated the Company’s assessment of the contract terms and revenue recognition. For certain contracts, we confirmed the relevant contract terms directly with the Company’s customers and compared them to the terms utilized by the Company to record revenue. We assessed the recorded revenue by selecting a sample of transactions and comparing the revenue recognized for consistency with the terms of the underlying documentation, including contracts with customers. For a selection of revenue contracts entered during the year, we interviewed personnel outside of the accounting function to consider any other relevant facts and circumstances and their impact on revenue recognition.                                                                                                                                                                                

/s/ KPMG LLP

We have served as the Company’s auditor since 2010.

Portland, Oregon

February 27, 2025

      F-3

DIGIMARC CORPORATION

CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)

      December 31,    December 31,  
   2024    2023  
 ASSETS         
 Current assets:         
 Cash and cash equivalents  $12,365  $21,456 
 Marketable securities   16,365   5,726 
 Trade accounts receivable, net   6,412   5,813 
 Other current assets   4,189   4,085 
 Total current assets   39,331   37,080 
 Property and equipment, net   1,040   1,570 
 Intangibles, net   22,191   28,458 
 Goodwill   8,532   8,641 
 Lease right of use assets   3,659   4,017 
 Other assets   1,013   786 
 Total assets  $75,766  $80,552 
 LIABILITIES AND SHAREHOLDERS’ EQUITY         
 Current liabilities:         
 Accounts payable and other accrued liabilities  $5,118  $6,672 
 Deferred revenue   4,020   5,853 
 Total current liabilities   9,138   12,525 
 Long-term lease liabilities   5,213   5,994 
 Other long-term liabilities