Digimarc Corporation (NASDAQ:DMRC) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 05:00 pm ET

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Digimarc Corporation (NASDAQ:DMRC) Q2 2020 Earnings Conference Call - Final Transcript

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Executive
Bruce Davis

eight weeks or so, is that things now are perking up, that there is a sense of understanding the environment, better understanding how to manage workflows at the suppliers that are involved, growing interest, as I said, among the national brands to make sure that they remain competitive by being a trustworthy brand. So trustworthiness encompasses sustainability and social awareness. And so I think these things are driving everybody to get off the dime and get going.

But also, the Holy Grail initiative has now been formed. There'll be a public announcement from the relevant people a little later in the year here. But they are getting going now and they know where they want to go. And so we're really excited, actually, about the progress over the last month or so in that area.

Analyst
Rudy Grayson Kessinger

Great. That's it from me. Thanks.

Operator
Operator

You have an additional question in queue from Jeff Bernstein with Cowen.

Analyst
Jeff Bernstein

Bruce, you mentioned reengaging on the strategic financing front. Can you just give a little more color about that?

Executive
Bruce Davis

Yes. So it ties in a bit to the restructuring that we alluded to during the call today. We have continued to make great strides in maturation of our platform. And so as we went out late last year and talked to some companies, I don't think we were quite as clear as we needed to be about the nature of the platform and our ability to deliver and proofs of delivery, and so all of those things are concerns that we addressed and have made great progress on.

And so we're circling back around to some of the folks that we talked to, to talk to them about our progress. And then we are targeting some other potential investors that we hadn't yet approached. So we're going both ways. We're going back around to the early discussions to demonstrate our progress and then we're addressing some new opportunities.

And as, again, as the world changes fairly dramatically here in the first half of 2020, the landscape of opportunity may be broader than we had thought previously, because I had, as I put on my list in May of last year, a pretty good idea where I wanted to go, but now there are some interesting things going on that could broaden the landscape of opportunity for us. So we are back, I would say on the road, but not exactly the right expression anymore. Back in the air, virtually.

Analyst
Jeff Bernstein

Got you. Okay. And then can you just talk about Wegmans, I guess is furthest along of the customers at retail. I think you've talked about really kind of focusing on using them to demonstrate the depth of the effectiveness of the product. And I'm wondering how that's going. And particularly with regard to low-touch shopping, if there's anything to be learned from the Wegmans' experience so far.

Executive
Bruce Davis

The efforts to move along with Wegmans' have been a struggle in the first couple quarters here of this year.