Digimarc appoints new COO to bolster growth

BEAVERTON, Ore. - Digimarc Corporation (NASDAQ: DMRC), known for its digital watermarking technology, has announced the promotion of Carle Quinn to Chief Operating Officer (COO), a strategic move aimed at enhancing the company’s operational efficiency and scalability in response to market demands. The company, currently valued at approximately $295 million, maintains strong financial fundamentals with a healthy current ratio of 2.7 and more cash than debt on its balance sheet, according to InvestingPro data.

Carle Quinn, who previously served as Digimarc’s Chief People Officer since April 2024, has been recognized for her significant contributions to the company’s strategic alignment and execution, as well as her role in driving key growth initiatives. Her experience is expected to be pivotal as Digimarc progresses into its next phase of development.

Quinn’s career includes over a decade of executive leadership, with substantial experience in go-to-market strategy, customer value, and human capital. Her tenure at Citrix as Global Vice President of GTM Strategy and Customer Value is noted for customer engagement transformations that resulted in substantial growth. Additionally, her work at SAP SuccessFactors as Global Vice President of Value Experience led to a marked increase in conversion rates and the achievement of growth targets. This appointment comes as Digimarc maintains impressive gross profit margins of 76%, though InvestingPro analysis indicates analysts anticipate a sales decline in the current year. For deeper insights into Digimarc’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

Riley McCormack, CEO of Digimarc, praised Quinn for her strategic acumen and operational discipline that have contributed to Digimarc’s evolution into a more agile enterprise. McCormack emphasized that Quinn’s elevation to COO is crucial for the company to continue developing the systems and accountability needed to fulfill its long-term strategic goals.

Digimarc has been a prominent player in the field of digital watermarking for nearly three decades, with its technologies widely used for the identification and authentication of physical and digital items, including a notable partnership with a consortium of the world’s central banks to combat currency counterfeiting. The company’s contributions have also been recognized through its inclusion in the Fortune 2023 Change the World list and as a finalist for the 2023 Fast Company World Changing Ideas. Despite recent stock performance showing a decline of over 50% in the past year, InvestingPro analysis suggests the stock may be undervalued at current levels, with multiple additional ProTips available for subscribers seeking comprehensive investment insights.

This strategic appointment is based on a press release statement from Digimarc and reflects the company’s focus on strengthening its operational capabilities to support sustainable growth.

In other recent news, Digimarc Corporation announced its first-quarter 2025 earnings, reporting a net loss per share of $0.55 compared to $0.50 in the same period last year. The company’s revenue fell short of expectations, reaching $9.4 million against a forecasted $11.93 million, marking a 6% year-over-year decline. Despite the revenue miss, Digimarc reported an 11% increase in adjusted annual recurring revenue (ARR), excluding a lapsed contract, which Needham highlighted in their reaffirmation of a Buy rating and a $30 price target for the company. The firm anticipates a decrease in non-GAAP operating expenses by approximately $7 million in the upcoming quarter, aligning with Digimarc’s cost-reduction strategy.

Additionally, Digimarc shareholders recently approved several key proposals at the company’s annual meeting, including the election of directors and the appointment of KPMG LLP as the independent registered public accounting firm. The approval of the Digimarc Corporation Employee Stock Purchase Plan and amendments to the 2018 Incentive Plan also received strong support. These developments reflect shareholder confidence in the company’s governance.

Digimarc continues to focus on expanding its core business areas, such as retail loss prevention and digital authentication, with the expectation of achieving non-GAAP profitability by the end of the year. The company aims to catalyze industry adoption of its gift card protection solution and has been selected by Unilever as their digital link vendor. The market will be closely watching Digimarc’s ability to capitalize on these opportunities and its strategic realignment efforts.

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