Digimarc (DMRC)
Embeds machine-readable identifiers in products and media, then connects them through Illuminate.
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Digital watermark and dynamic QR technologies identify, authenticate, and connect physical and digital media. Illuminate adds APIs, AI-assisted workflows, and interaction insights to turn those identifiers into data-driven services.
Machine-readable digital watermarks and dynamic QR codes are embedded in product packaging, imagery, and other physical and digital media. Illuminate, the company's SaaS platform, combines those identifiers with APIs, AI-assisted authentication workflows, interaction insights, and automation.
Built from the digital-watermarking business and the acquired EVRYTHNG product-cloud capability, the offering is used for identification, authentication, and data-driven workflows. The company describes this as a trust layer for a world of AI-enabled fraud, counterfeiting, and misinformation. Its operating base remains in Beaverton, Oregon. Following a 2026 reorganization, the Nasdaq-listed public parent holds the customer-facing business through Digimarc LLC.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 14, 2026 | Needham | Reiterate | Rating: —Target: $20 | Target: $15 |
| Oct 31, 2025 | Needham | Reiterate | Rating: —Target: $40 | Target: $20 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $8.8M · Total debt $4.8M · Total assets $45.8M · Shareholders' equity $29.3M
- Revenue
- $7.4M
- Operating income
- −$12.4M
- Net income
- −$12.1M
No dividends on record.
| Institutions | ≈ 65.57% | 14.59M shares | |
|---|---|---|---|
| 106 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 34.94% | 7.77M shares | |
| 16 holders · as of May 18, 2026 | |||
| Adds to | 100.51% | ||
22.24M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 100.51%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Rishi Bajaj1,2Insiderdirector, 10 percent owner | 12.63% | 2.79M | filed May 4, 2026 |
Altai Capital Management, L.P.Institution | 12.45% | 2.77M | as of Jun 30, 2026 |
riley mccormackInsiderdirector, 10 percent owner, officer: Chief Executive Officer | 11.02% | 2.45M | filed Mar 19, 2025 |
Morgan StanleyInstitution | 9.25% | 2.06M | as of Jun 30, 2026 |
Vincent C. Smith3Insider10 percent owner | 7.81% | 1.74M | filed Mar 31, 2022 |
- Rishi Bajaj's transaction reports restate only vehicles that traded; the 2025 ownership statement (2.79M) plus the 16.4K net shares acquired since is used instead.
- Rishi Bajaj reports a block also reported by Altai Capital Management, L.P.; it is counted once, under Altai Capital Management, L.P.
- Vincent C. Smith's transaction reports restate only vehicles that traded; the 2022 ownership statement (1.74M) is used instead.
Insider tradesForm 4
No open-market trades in the last 12 months.
- Avery Dennison
Connected-product cloud and RFID identity alternative
- Impinj
RAIN RFID identity and authentication for physical items
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Digimarc | $5.17 | +1.54% | $114.1M | — | — | 3.6 | −7.8% |
| Avery Dennison | $171.02 | +1.00% | $12.95B | 18.5 | 16.4 | 1.4 | +10.9% |
| Impinj | $186.41 | +1.29% | $5.62B | — | 75.6 | 15.1 | +10.7% |
| Median | 18.5 | 46.0 | 8.3 | +10.8% |