Company: DMRC
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005471
Chunk: 89

Company: Digimarc CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 89
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 )

      Total adjustments to gross profit 

     5,842

     6,158

      Total adjustments to operating expenses 

     11,782

     13,378

      Non-GAAP net loss 
      
     $
     (21,386
     )
      
     $
     (26,423
     )

      GAAP loss per share (diluted) 
      
     $
     (1.83
     )
      
     $
     (2.26
     )

      Non-GAAP net loss 
      
     $
     (21,386
     )
      
     $
     (26,423
     )

      Non-GAAP loss per share (diluted) 
      
     $
     (1.01
     )
      
     $
     (1.30
     )

Non-GAAP gross profit for the twelve months ended December 31, 2024, compared to the corresponding twelve months ended December 31, 2023, increased by $3.8 million primarily due to higher subscription revenue and lower cost of service revenue.

Non-GAAP gross profit margin for the twelve months ended December 31, 2024, compared to the corresponding twelve months ended December 31, 2023, increased by 2 percentage points primarily due to higher subscription revenue combined with a more favorable mix of subscription revenue.

Non-GAAP operating expenses for the twelve months ended December 31, 2024, compared to the corresponding twelve months ended December 31, 2023, decreased by $1.2 million primarily due to $1.5 million of lower cash compensation costs, partially offset by higher professional services and consulting costs of $0.5 million. The $1.5 million decrease in cash compensation costs includes $1.5 million of cash severance costs in 2023, and lower cash compensation costs of $1.0 million primarily reflecting lower headcount, net of annual compensation adjustments, partially offset by $0.6 million of cash severance costs in 2024 and $0.5 million of lower cash labor costs allocated to cost of revenue due to the amount and mix of billable labor hours incurred.

Liquidity and Capital Resources

      December 31, 

      December 31, 

      2024 

      2023 

      Working capital 
      
     $
     30,193

     $
     24,