Digimarc Corporation (NASDAQ:DMRC) Q2 2023 Earnings Conference Call August 2, 2023 5:00 PM ET
Company Participants
Joel Meyer - Chief Legal Officer
Riley McCormack - Chief Executive Officer
Charles Beck - Chief Financial Officer
Conference Call Participants
Chris Grenga - Needham & Company
Jeff Bernstein - Silverberg Bernstein Capital
Robin Knipp - Janney Montgomery Scott
Operator
Ladies and gentlemen, greetings, and welcome to the Digimarc Corporation Second Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Joel Meyer, Chief Legal Officer. Please go ahead.
Joel Meyer
Thank you. Welcome to our Q2 conference call. Riley McCormack, our CEO and Charles Beck, our CFO, are with me on the call. On the call today, we will provide a business update and discuss Q2 2023 financial results. This will be followed by a question-and-answer forum. We have posted our prepared remarks in the Investor Relations section of our website and we will archive this webcast there.
Before we begin, let me remind everyone that today’s discussion contains forward-looking statements that have risks and uncertainties. Please refer to our press release for more information on the specific risk factors that could cause our actual results to differ materially. Riley will now provide a business update.
Riley McCormack
Thank you, Joel and hello everyone. Q2 was a strong quarter on many fronts, a testament to our maniacal focus on being easy to begin doing business with and excellent in guiding customers along their product digitization journey. Starting with the Easy to Begin Doing Business With portion of our mantra, I want to highlight a few wins on the direct side of our business. We added two large new customers in the pharmaceutical vertical and are hard at work expanding this flywheel to help this industry combat the massive and massively important issue of counterfeit products.
We also closed deals with two separate divisions of the top 25 global CPG for a sandbox version of our platform involving factory automation and are working to pull together the ecosystem partners necessary to provide a quickly scalable and low-touch solution to the hundreds, if not thousands, of other companies that would benefit from the same. Based not just on these two initial wins nor just on our internal research, but very importantly also on our growing pipeline of opportunities as the word gets out, we are confident we have a truly differentiated and high-value factory automation solution that we can’t wait to provide to many others.