Digimarc Corporation (NASDAQ:DMRC) Q4 2019 Earnings Conference Call - Final Transcript
Feb 26, 2020 • 05:00 pm ET
Good afternoon, and thank you for participating in today's conference call. I'd now like to turn the call over to Chairman and CEO of Digimarc, Mr. Bruce Davis. Sir, please proceed.
Thank you. Good afternoon, everyone. Welcome to our conference call. Charles Beck, our CFO, is with me. On the call today, we'll review Q4 and fiscal 2019 financial results. Discuss significant business developments and market conditions and provide an update on progress and execution strategy since the last update at the Needham Conference in January. We've posted these prepared remarks in the Investor Relations section of our website and will archive this webcast there. Please note that we will make certain forward-looking statements in this call and in the prepared remarks we filed with the SEC and posted on our website under the heading Safe Harbor Statement, regarding revenue recognition matters, results of operations, investments, initiatives, perspectives on business partners, customers, prospects, industry trends and growth strategies. We will also discuss from time to time information provided to us by our partners and actual and potential customers. We are providing this information as we understand it was represented to us. And we do not verify nor vouch for such information. All such statements and information are subject to many assumptions, risks, uncertainties and changes in circumstances.
And the assumption we share about future performance represent a point in time estimate. Actual results may vary materially from those expressed or implied in such statements. We expressly disclaim any obligation to revise or update statements or other information that we provide during this call to reflect events or circumstances that may arise after the date of this conference call. For more information about the risk factors that may affect actual results or cause actual results to differ from expectations, please see the company's filings with the SEC, including the Form 10-K that we expect to file shortly. Any links included in our prepared remarks are provided for general information and context only. The content reference is not incorporated by reference and you should not consider a part of this presentation. We do not verify nor vouch votes for such information. Charles will now comment on our financial results, then I'll discuss significant business developments, market conditions and execution of strategy. Charles?
Thanks, Bruce. First off, I just want to give everybody a heads up that the earnings release was distributed through PR Newswire on time. However, Yahoo! Finance, news feed is for one of the reason, not picking up that lease. We're working with them to make sure that the release is posted on that site. It is available through all of their channel, though, including our own website as well as the SEC website. Market revenue for the quarter increased 138% year-over-year to $1.4 million. Total Q4 revenue increased 2% to $5.3 million from $5.2 million in the fourth quarter of last year. The increase in market revenue was offset by lower service revenue, reflecting the timing of program work with