Company: DMRC
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001437749-25-034816
Chunk: 36

Company: Digimarc CORP
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 36
---
,524

     $
     12,402

     $
     (1,878
     )

     (15
     )%

      Total 
      
     $
     7,627

     $
     9,443

     $
     (1,816
     )

     (19
     )%
      
     $
     25,005

     $
     29,760

     $
     (4,755
     )

     (16
     )%

      Revenue (as % of total revenue): 

      Commercial 

     56
     %

     57
     %

     58
     %

     58
     %

      Government 

     44
     %

     43
     %

     42
     %

     42
     %

      Total 

     100
     %

     100
     %

     100
     %

     100
     %

Commercial

The $1.1 million decrease in commercial revenue for the three months ended September 30, 2025, compared to the corresponding three months ended September 30, 2024, primarily reflects a decrease of $0.8 million from the expiration of a commercial subscription contract in April 2025 and $0.4 million of lower commercial service revenue from HolyGrail 2.0 recycling projects.

The $2.9 million decrease in commercial revenue for the nine months ended September 30, 2025, compared to the corresponding nine months ended September 30, 2024, primarily reflects a decrease of $3.5 million from the expiration of commercial subscription contracts in June 2024 and April 2025, partially offset by higher commercial subscription revenue from new and existing commercial contracts.

Government

The $0.7 million decrease in government revenue for the three months ended September 30, 2025, compared to the corresponding three months ended September 30, 2024, reflects $0.7 million of lower government service revenue from the Central Banks.

The $1.9 million decrease in government revenue for the nine months ended September 30, 2025, compared to the corresponding nine months ended September 30, 2024, reflects $1.9 million of lower government service revenue from the Central Banks.

Annual Recurring Revenue (“ARR”)

      As of 

      As of 

      Dollar 

      Percent 

      September