logo-loader
viewDigimarc Corp

Digimarc tops revenue estimates, teams up with Walmart

The software company posted $5.7 million in revenue, beating Street estimates of $5.4 million

Person with fresh produce
Digimarc announced it was teaming up with Walmart to implement its barcode system on fresh produce

Digimarc Corporation (NASDAQ:DMRC) is soaring after reporting first-quarter revenue that exceeded expectations.

The software company and inventor of a namesake barcode posted $5.7 million in revenue, beating Street estimates of $5.4 million. Earnings came in at a loss of $0.74 per share, bigger than the $0.72 loss analysts called for.

The stock rocketed nearly 49% to $49.28.

On Tuesday, Digimarc announced it was teaming up with Walmart Inc (NYSE:WMT) to implement its barcode system on fresh produce. The plan is to reduce food waste and automate the price markdown process with labels resistant to the common problems of misprints, smudging and tearing. 

"This program coalesces efforts to benefit society with Walmart's dedication to everyday low prices," CEO Bruce Davis said. "We look forward to helping Walmart reduce food waste and save money for consumers through the use of this program."

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Digimarc Corp

Price: 29.64 USD

NASDAQ:DMRC
Market: NASDAQ
Market Cap: $368.37 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Co-Diagnostics expects to win a CE mark-validated...

Co-Diagnostics Inc (NASDAQ:CODX) CEO Dwight Egan tells Proactive the Utah-based company expects to achieve a CE mark validation on its coronavirus detection test from the European Union by as early as next week. Egan says the company is very enthused by the entire process of the development...

2 days, 10 hours ago

2 min read