Company: DMRC
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005471
Chunk: 85

Company: Digimarc CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 85
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 in 2023 on our former corporate headquarters in Beaverton, Oregon. The lease on our former corporate headquarters expired on March 31, 2024.

Stock-based compensation

     Year Ended December 31,

     Dollar

     Percent

      2024 

      2023 

      Increase/(Decrease) 

      Increase/(Decrease) 

      Cost of revenue 
      
     $
     706

     $
     1,126

     $
     (420
     )

     (37
     )%

      Sales and marketing 

     2,788

     2,640

     148

     6
     %

      Research, development and engineering 

     2,522

     2,962

     (440
     )

     (15
     )%

      General and administrative 

     4,013

     4,430

     (417
     )

     (9
     )%

      Total stock-based compensation 
      
     $
     10,029

     $
     11,158

     $
     (1,129
     )

     (10
     )%

The $1.1 million decrease in stock-based compensation expense for the twelve months ended December 31, 2024, compared to the corresponding twelve months ended December 31, 2023, was primarily due to: 

      • 
      stock-based severance costs of $0.6 million incurred in 2023; 

      • 
      reversal of stock compensation expenses of $0.4 million on unvested stock awards that were forfeited in 2024; and  

      • 
      lower amount of employee equity grants made in 2024 resulting in lower expense of $0.3 million. 

      22

We anticipate incurring an additional $16.2 million in stock-based compensation expense through December 31, 2028 for awards outstanding as of December 31, 2024.

Leases

In February 2022, we entered into a sublease agreement and lease extension agreement for office space in Beaverton, Oregon in order to move our corporate headquarters. The new facility is approximately 65,500 square feet in size. The term of the sublease and lease extension runs through September 2030. The remaining rent payments as of December 31, 2024 were $7.8 million plus operating expenses,