Digimarc Corp

DMRC remains in a Stage 4 decline with persistent lower highs and lower lows. Price is oversold and has shown a relief bounce but remains below the declining 9 and 21 EMAs. Short-term timing is unfavorable for additional selling; we will defer action and look to trim into relief rallies into the 9/21 EMA resistance zone.

• ↑New CEO revamps sales strategy; pipeline up 30x to 31 retailers.
• ↑Secure gift card solution addresses $1T fraud market demand.
• ↓ARR fell to $11.6M from $15.9M due to $3.1M contract expirations.