Digimarc Corp. Financial Ratios — DMRC Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	12.19	17.48	-0.98	-30.72	-34.64	-34.76	-33.13	-46.82	-61.98	-48.86	-49.97	-78.23	-57.66	-63.34	-63.67
Return on Assets (%)	11.14	16.04	-0.89	-27.61	-31.52	-32.08	-30.84	-43.3	-55.11	-42.14	-42.94	-66.94	-47.3	-49.91	-50.2
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	18.65	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	80.75	85.33	76.53	67.14	59.68	61.01	66.06	60.24	65.04	66.93	66.9	50.74	57.86	63.09	61.62
EBITDA Margin (%)	19.83	35.11	-1.21	-50.31	-70.05	-89.31	-95.74	-148.08	-135.19	-125.22	-140.74	-169.07	-112.32	-86.32	-72.8
Operating Margin (%)	17.73	32.89	-6.9	-59.33	-81.02	-100.58	-105.36	-158.19	-146.74	-136.78	-150.32	-197.48	-135.64	-106.09	-97.25
Incremental Operating Margin (%)	4.87	98.43	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	10.74	30.8	-6.59	-59.12	-80.53	-99.4	-103.03	-153.2	-142.77	-135.62	-131.01	-197.71	-131.29	-101.43	-95.18
Profit Margin (%)	15.69	18.64	-1.45	-61.66	-80.82	-99.44	-102.21	-153.39	-142.86	-135.63	-131.07	-198.03	-131.87	-101.54	-95.27
Net Income to Common Margin (%)	15.69	18.64	-1.45	-61.66	-80.82	-99.44	-102.21	-153.39	-142.86	-135.63	-131.07	-198.03	-131.87	-101.54	-95.27
Effective Tax Rate (%)	- -	39.47	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	28.34	-631.56	-10.46	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	12.19	12.53	-7.14	-33.93	-34.64	-34.76	-33.13	-46.82	-61.98	-48.86	-49.97	-78.23	-57.66	-63.34	-63.67

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	- -	- -	- -	- -	- -	1	2	7	1	6	6	6	5
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	4	- -	- -	- -	1	1
LT Debt	- -	- -	- -	- -	- -	- -	- -	1	2	3	1	6	6	5	4
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	-0.03	-0.08	-0.23	-0.03	-0.12	-0.15	-0.18	-0.21
Net Debt/EBITDA	-0.48	-0.44	9.01	0.47	0.2	0.6	1.69	0.87	0.36	0.49	0.37	0.66	0.55	0.37	0.4
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	-0.03	-0.07	-0.21	-0.03	-0.1	-0.13	-0.15	-0.16
Net Debt/EBIT	-0.54	-0.47	1.58	0.4	0.18	0.53	1.54	0.81	0.33	0.45	0.35	0.56	0.45	0.3	0.3
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	90.99	92.36	88.94	90.78	91.21	93.08	93.13	91.55	86.08	86.36	85.29	85.73	76.82	80.92	75.87
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	1.51	5.04	3.45	1.86	6.12	9.68	8.5	10.72
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	1.49	4.8	3.19	1.82	5.77	8.82	7.74	9.49
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	1.38	4.35	2.98	1.58	5.25	7.44	6.88	8.15
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	1.51	5.04	8.15	1.86	6.12	9.68	9.77	12.96
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	1.49	4.8	7.54	1.82	5.77	8.82	8.9	11.47
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	1.38	4.35	7.05	1.58	5.25	7.44	7.91	9.84
Net Debt to Equity	-8.2	-12.95	-7.48	-11.73	-6.14	-15.87	-49.57	-48.18	-22.68	-17.45	-24.9	-34.43	-34.65	-20.15	-24.41
Net Debt/Capital (%)	-8.93	-14.88	-8.09	-13.29	-6.54	-18.86	-98.31	-90.35	-27.53	-20.61	-32.35	-48.02	-46.18	-22.49	-27.57
EBITDA	7	16	- -	-13	-16	-19	-24	-31	-31	-30	-37	-51	-39	-33	-25
EBITDA-CapEx	6	14	-3	-15	-18	-22	-27	-33	-33	-32	-39	-52	-39	-33	-25
Operating Income (Loss)	6	15	-2	-15	-18	-22	-27	-34	-34	-33	-40	-60	-47	-41	-33

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	7.1	8.83	5.13	7.61	7.73	12.63	13.45	10.11	6.76	7.95	4.32	5.18	2.17	3.14	1.54
Current Ratio	8.44	10.26	6.43	9.03	9.04	14.15	15.15	11.5	7.95	8.58	5.7	6.33	2.96	4.3	2.56
Quick Ratio	8.07	9.98	6.14	8.51	8.72	13.77	14.72	11.01	7.5	8.35	5.4	5.72	2.63	3.85	2.32
CFO/Avg Current Liab	2.67	4.29	0.74	-1.24	-2	-3.04	-3.71	-4.53	-4.45	-2.62	-2.99	-4.98	-1.94	-2.45	-1.35
Common Equity/Total Assets	90.99	92.36	88.94	90.78	91.21	93.08	93.13	91.55	86.08	86.36	85.29	85.73	76.82	80.92	75.87
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	1.51	5.04	3.45	1.86	6.12	9.68	8.5	10.72
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	1.49	4.8	3.19	1.82	5.77	8.82	7.74	9.49
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	1.38	4.35	2.98	1.58	5.25	7.44	6.88	8.15
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	1.51	5.04	8.15	1.86	6.12	9.68	9.77	12.96
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	1.49	4.8	7.54	1.82	5.77	8.82	8.9	11.47
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	1.38	4.35	7.05	1.58	5.25	7.44	7.91	9.84
CFO/Total Liabilities	251.55	360.47	55.36	-128.44	-198.53	-256.65	-292.4	-410.09	-273.39	-151.17	-275.02	-274.34	-118.09	-184.44	-92.54
CFO/CapEx	7.48	8.97	1.27	-2.6	-4.61	-5.28	-5.86	-10.4	-12.66	-12.22	-16.61	-47.55	-70.05	-125.34	-20.66
Altman's Z-Score	26.96	23.63	15.21	26.44	39.24	34.4	40.97	16.61	26.79	33.33	36.13	7.34	11.56	21.29	-15.41

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	10.32	11.5	6.96	4.94	4.84	4.5	4.39	4.12	5.81	6.05	5.16	5.12	6.2	6.29	5.25
Days Sales Outstanding	35.36	31.74	52.48	73.85	75.35	81.18	83.11	88.63	62.79	60.31	70.71	71.28	58.86	58.07	69.55
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	14.57	6.21	6.07	5.74	5.89	5.34	4.98	5.61	4.78	3.11	6.21	- -	- -	22.42	14.74
Accounts Payable Turnover Days	25.05	58.75	60.12	63.62	61.93	68.3	73.29	65.11	76.4	117.29	58.78	- -	- -	16.28	24.76
Cash Conversion Cycle	10.32	-27.01	-7.64	10.23	13.42	12.88	9.82	23.52	-13.61	-56.98	11.93	71.28	58.86	41.79	44.8
Inventory to Cash Days	35.36	31.74	52.48	73.85	75.35	81.18	83.11	88.63	62.79	60.31	70.71	71.28	58.86	58.07	69.55
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	167	148	143	229	326	316	421	172	418	791	669	375	736	805	144
- Cash & Cash Equivalents	3	7	4	6	3	12	41	27	11	20	14	34	21	12	10
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	1	2	7	1	6	6	6	5
Enterprise Value	142	116	113	191	289	260	353	130	383	720	637	328	715	782	136
Total Capital	42	53	51	52	51	73	82	57	52	91	56	104	68	67	45
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	1.49	4.8	7.54	1.82	5.77	8.82	8.9	11.47
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	0.01	0.01	0.01	- -	0.02	0.01	0.01	0.04
EV/Sales	3.93	2.62	3.23	7.43	13.05	11.91	14.02	6.12	16.68	30	24	10.87	20.51	20.36	4.01
EV/EBITDA	19.85	7.46	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	22.2	7.96	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	13.83	7.45	32.52	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	12.2	6.7	18.17	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	178	145	132	195	299	276	382	165	395	610	650	354	734	796	142
Diluted Enterprise Value	174	138	128	189	296	264	341	138	386	597	637	326	719	790	138
EV per Share	20.24	16.21	15.26	22.61	32.46	24.67	30.34	10.9	30.81	43.01	37.58	16.19	35.08	36.39	6.21
TTM Sales	36	44	35	26	22	22	25	21	23	24	27	30	35	38	34
TTM EBITDA	7	16	- -	-13	-16	-19	-24	-31	-31	-30	-37	-51	-39	-33	-25
TTM Operating Income	6	15	-2	-15	-18	-22	-27	-34	-34	-33	-40	-60	-47	-41	-33
TTM Cash Flow to Firm	10	16	3	-7	-10	-14	-18	-21	-22	-20	-26	-44	-22	-27	-12
TTM Free Cash Flow to Firm	12	17	6	-4	-8	-11	-15	-19	-20	-18	-25	-43	-22	-26	-11

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	15.27	8.34	21.28	-47.09	-39.24	-24.53	-26.17	-8.59	-19.75	-33.3	-26.48	-8.14	-33.86	-30.21	-12.68
EV/EBIT	22.2	7.96	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	142	116	113	191	289	260	353	130	383	720	637	328	715	782	136
Low Price	21	17.68	17.85	18.97	20.9	25.04	24.2	14.03	14.19	9.92	22.11	12.45	16.13	21	6.35
EV/Sales	3.93	2.62	3.23	7.43	13.05	11.91	14.02	6.12	16.68	30	24	10.87	20.51	20.36	4.01
EV/EBITDA	19.85	7.46	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	28.47	16.91	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	35.28	19.99	-286.49	-12.97	-14.09	-13.5	-12.94	-9.62	-13.42	-9.63	-17.22	-6.82	-12.01	-16.63	-10.04
Price/Earnings High	52.23	26.22	-362.8	-16.81	-22.51	-19.05	-17.13	-13.96	-23.82	-23.3	-25.45	-13.47	-17.22	-23.67	-32.4
Price/Earnings Low	25.03	14.44	-241.73	-8.62	-9.55	-10.62	-9.93	-4.9	-5.08	-3.93	-10.47	-3.98	-7.13	-11.45	-4.26
Price/Book Value	4.02	2.8	2.8	4.39	6.33	4.31	5.12	3.05	8.46	9.44	12.09	3.84	11.9	13.13	3.58
Price/Book Value Average	4.98	3.31	3.08	4.61	5.35	4.57	4.47	5.79	9.44	4.85	11.13	4.43	8.94	10.7	8.16
Price/Book Value High	7.37	4.35	3.9	5.98	8.54	6.45	5.91	8.4	16.75	11.73	16.45	8.74	12.83	15.23	26.34
Price/Book Value Low	3.53	2.39	2.6	3.07	3.63	3.6	3.43	2.95	3.58	1.98	6.77	2.59	5.31	7.36	3.46
Price/Tangible Book Value	4.31	3.29	3.31	5.17	7.45	4.8	5.63	3.53	10.04	10.39	14.05	6.67	29.71	26.32	10.21
Price/Tangible Book Value Average	5.34	3.89	3.64	5.43	6.29	5.1	4.91	6.71	11.2	5.34	12.94	7.69	22.34	21.45	23.3
Price/Tangible Book Value High	7.9	5.1	4.61	7.04	10.06	7.19	6.5	9.73	19.89	12.92	19.12	15.18	32.03	30.52	75.17
Price/Tangible Book Value Low	3.79	2.81	3.07	3.61	4.27	4.01	3.77	3.42	4.24	2.18	7.87	4.49	13.27	14.76	9.88
Price/Sales	4.47	3.15	3.78	7.6	13.49	12.65	15.16	7.77	17.17	25.41	24.51	11.72	21.06	20.73	4.19
Price/Sales Average	5.54	3.73	4.15	8	11.39	13.42	13.23	14.75	19.17	13.06	22.57	13.51	15.84	16.89	9.57
Price/Sales High	8.2	4.89	5.26	10.36	18.2	18.95	17.5	21.42	34.03	31.6	33.36	26.67	22.71	24.03	30.87
Price/Sales Low	3.93	2.69	3.51	5.31	7.72	10.56	10.15	7.52	7.26	5.34	13.73	7.89	9.41	11.62	4.06
Price/Cash Flow	15.71	8.97	38.08	-28.98	-30.73	-19.88	-21.7	-7.77	-18.19	-30.58	-24.89	-7.97	-33.37	-29.96	-12.06
Price/Cash Flow Average	19.46	10.6	41.82	-30.47	-25.95	-21.1	-18.94	-14.74	-20.3	-15.71	-22.92	-9.18	-25.09	-24.42	-27.54
Price/Cash Flow High	28.81	13.9	52.96	-39.49	-41.45	-29.78	-25.06	-21.4	-36.04	-38.02	-33.88	-18.13	-35.99	-34.75	-88.87
Price/Cash Flow Low	13.81	7.66	35.29	-20.25	-17.59	-16.59	-14.53	-7.51	-7.69	-6.42	-13.94	-5.37	-14.9	-16.8	-11.68
Price/Free Cash Flow Average	18.92	9.87	23.37	-49.5	-33.14	-26.04	-22.84	-16.31	-22.04	-17.11	-24.39	-9.38	-25.46	-24.62	-28.94
Price/Free Cash Flow High	28.01	12.94	29.6	-64.17	-52.94	-36.75	-30.22	-23.67	-39.13	-41.41	-36.05	-18.52	-36.51	-35.03	-93.39
Price/Free Cash Flow Low	13.42	7.13	19.72	-32.9	-22.46	-20.47	-17.52	-8.31	-8.35	-6.99	-14.83	-5.48	-15.12	-16.94	-12.27
EV/Sales Average	5.66	3.8	4.37	9.14	12.25	14.84	12.96	14.2	19.91	16.4	22.75	13.38	15.44	16.91	9.54
EV/Sales High	8.43	5.03	5.56	11.92	19.66	21.17	17.68	21.17	35.63	40.44	33.85	27.31	22.33	24.13	31.07
EV/Sales Low	3.99	2.7	3.67	5.99	8.26	11.56	9.57	6.63	7.31	6.39	13.64	7.44	8.99	11.59	3.97
EV/EBITDA Average	28.57	10.83	-361.25	-18.16	-17.49	-16.62	-13.54	-9.59	-14.72	-13.1	-16.16	-7.92	-13.75	-19.59	-13.1
EV/EBITDA High	42.51	14.33	-459.84	-23.68	-28.06	-23.7	-18.46	-14.3	-26.35	-32.3	-24.05	-16.15	-19.88	-27.96	-42.68
EV/EBITDA Low	20.13	7.7	-303.42	-11.91	-11.79	-12.94	-9.99	-4.48	-5.4	-5.1	-9.69	-4.4	-8	-13.42	-5.45
EV/EBIT Average	31.95	11.56	-63.35	-15.4	-15.12	-14.76	-12.3	-8.98	-13.57	-11.99	-15.13	-6.78	-11.38	-15.94	-9.81
EV/EBIT High	47.54	15.3	-80.64	-20.08	-24.26	-21.05	-16.78	-13.38	-24.28	-29.57	-22.52	-13.83	-16.47	-22.75	-31.95
EV/EBIT Low	22.51	8.22	-53.21	-10.1	-10.2	-11.49	-9.08	-4.19	-4.98	-4.67	-9.08	-3.77	-6.63	-10.92	-4.08
Last Price	23.89	20.7	19.26	27.15	36.51	30	36.15	14.5	33.56	47.24	39.48	18.49	36.12	37.45	6.56
High Price	43.82	32.1	26.79	37	49.25	44.94	41.75	39.95	66.5	58.74	53.74	42.07	38.95	43.43	48.32
Enterprise Value Average	204	169	153	234	272	323	327	301	458	393	603	404	538	650	323
Enterprise Value High	304	223	195	306	436	461	446	449	819	970	898	825	778	927	1,054
Enterprise Value Low	144	120	128	154	183	252	241	140	168	153	362	225	313	445	135

Shares Outstanding	7	7	7	8	9	11	12	12	12	17	17	20	20	21	22
Diluted Weighted Avg Shares	7	7	7	7	8	9	11	11	12	13	16	19	20	21	22
Basic Weighted Avg Shares	7	7	7	7	8	9	11	11	12	13	16	19	20	21	22
Revenue per Share	5.35	6.57	5.09	3.57	2.71	2.37	2.39	1.87	1.95	1.86	1.61	1.58	1.71	1.81	1.57
EBITDA per Share	1.06	2.31	-0.06	-1.8	-1.9	-2.12	-2.28	-2.76	-2.64	-2.33	-2.27	-2.67	-1.93	-1.56	-1.14
Operating Income per Share	0.95	2.16	-0.35	-2.12	-2.19	-2.39	-2.51	-2.95	-2.87	-2.54	-2.42	-3.12	-2.33	-1.92	-1.52
Basic EPS, GAAP	0.84	1.22	-0.07	-2.2	-2.19	-2.36	-2.44	-2.86	-2.79	-2.52	-2.11	-3.12	-2.26	-1.83	-1.49
Basic EPS from Cont Ops	0.84	1.22	-0.07	-2.2	-2.19	-2.36	-2.44	-2.86	-2.79	-2.52	-2.11	-3.12	-2.26	-1.83	-1.49
Diluted EPS, GAAP	0.76	1.18	-0.07	-2.2	-2.19	-2.36	-2.44	-2.86	-2.79	-2.52	-2.11	-3.12	-2.26	-1.83	-1.49
Diluted EPS from Cont Ops	0.76	1.18	-0.07	-2.2	-2.19	-2.36	-2.44	-2.86	-2.79	-2.52	-2.11	-3.12	-2.26	-1.83	-1.49
Dividend per Share	- -	0.35	0.47	0.23	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	1.52	2.31	0.51	-0.94	-1.19	-1.51	-1.67	-1.87	-1.85	-1.54	-1.59	-2.32	-1.08	-1.25	-0.54
Free Cash Flow per Basic Share	1.32	2.05	0.11	-1.3	-1.45	-1.79	-1.95	-2.05	-1.99	-1.67	-1.68	-2.37	-1.1	-1.26	-0.57
Cash & Equivalents per Share	3.66	4.5	4.01	4.55	4.06	5.33	5.81	3.67	2.96	4.64	1.97	2.59	1.33	1.34	0.59
Book Value per Share	5.95	7.39	6.87	6.19	5.76	6.96	7.06	4.76	3.97	5.01	3.27	4.81	3.04	2.85	1.83
Tangible Book Value per Share	5.54	6.29	5.82	5.26	4.9	6.25	6.42	4.1	3.34	4.55	2.81	2.77	1.22	1.42	0.64

Digimarc Corp.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)