Digimarc Corporation (DMRC) saw its loss widen to $5.20 million, or $0.55 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $4.47 million, or $0.54 a share.

Revenue during the quarter grew 3.53 percent to $5.58 million from $5.39 million in the previous year period. Gross margin for the quarter expanded 18 basis points over the previous year period to 61.23 percent. Operating margin for the quarter stood at negative 94.24 percent as compared to a negative 83.01 percent for the previous year period.

Operating loss for the quarter was $5.26 million, compared with an operating loss of $4.47 million in the previous year period.

The company has spent $7.82 million cash to meet investing activities during the nine month period as against cash outgo of $0.03 million in the last year period.

Cash flow from financing activities was $38.30 million for the nine month period, up 209.25 percent or $25.91 million, when compared with the last year period.

Working capital increases

Digimarc Corporation has recorded an increase in the working capital over the last year. It stood at $55.82 million as at Sep. 30, 2016, up 23.68 percent or $10.69 million from $45.13 million on Sep. 30, 2015. Current ratio was at 19.05 as on Sep. 30, 2016, up from 14.06 on Sep. 30, 2015.

Days sales outstanding went down to 46 days for the quarter compared with 49 days for the same period last year.