Digimarc to Cut Workforce as Part of Restructuring

Dow Jones02-26

By Sabela Ojea

Digimarc said it is reducing its workforce as part of a restructuring plan that is expected to affect up to 90 employees.

The provider of enterprise software and services said the cuts would help the company achieve its profitability goals after logging another loss in the fourth quarter.

Digimarc posted a fourth-quarter loss of $8.65 million, or 40 cents a share, compared with a loss of $10.6 million, or 52 cents a share, for the same period a year earlier.

Quarterly revenue fell 6.7% to $8.66 million, the company added.

Overall, Digimarc projects about $3 million in costs from the reorganization, will be booked in the first quarter. The cuts are set to reduce its annualized cash expenses by $16.5 million, and result in about $5.5 million of other annualized cash cost savings, it added.

The company had 248 full-time employees as of Dec. 31, according to the company's latest annual filing with the Securities and Exchange Commission.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

February 26, 2025 17:21 ET (22:21 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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