Company: DMRC
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005471
Chunk: 23

Company: Digimarc CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7A
Chunk 23
---
roboration with observable market data. Level 2 includes investments valued at quoted prices adjusted for legal or contractual restrictions specific to these investments. 

      •   Level 3 Pricing inputs are unobservable for the investment; that is, the inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. 

   The Company’s fair value hierarchy for its cash equivalents and marketable securities as of  December 31, 2024 and 2023, respectively, was as follows:

     December 31, 2024   Level 1    Level 2    Level 3    Total  
 Money market securities  $112  $—  $—  $112 
 Commercial paper   —   10,633   —   10,633 
 U.S. treasuries   —   9,192   —   9,192 
 Federal agency notes   —   5,317   —   5,317 
 Total  $112  $25,142  $—  $25,254 

     December 31, 2023   Level 1    Level 2    Level 3    Total  
 Money market securities  $1,515  $—  $—  $1,515 
 Commercial paper   —   14,622   —   14,622 
 U.S. treasuries   —   5,953   —   5,953 
 Federal agency notes   —   998   —   998 
 Total  $1,515  $21,573  $—  $23,088 

   The fair value maturities of the Company’s cash equivalents and marketable securities as of  December 31, 2024 are as follows:

       Maturities by Period  
       Less than   1-5  5-10   More than  
   Total    1 year    years    years    10 years  
 Cash equivalents and marketable securities  $25,254  $25,254  $—  $—  $— 

   (3) Revenue Recognition
    
   The Company recognizes revenue in accordance with ASC 606 “Revenue Recognition” by