Digimarc(DMRC) - 2023 Q2 - Earnings Call Transcript

Service revenue declined 10% from $4.5 million to $4.1 million, reflecting the impact of Holy Grail Recycling project work in Q2 last year of $700,000. The excluding this non-recurring project work, service revenue increased $300,000 or 8%, reflecting the impact of the larger annual budget from the central banks for project work this year. We still expect our currency business to deliver double-digit growth this year. Subscription gross profit margin improved from 73% in Q2 last year to 84% in Q2 this year. ...