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Side-by-side financial comparison of Digimarc CORP (DMRC) and GOLDEN HEAVEN GROUP HOLDINGS LTD. (GDHG). Click either name above to swap in a different company.

GOLDEN HEAVEN GROUP HOLDINGS LTD. is the larger business by last-quarter revenue ($15.3M vs $8.9M, roughly 1.7× Digimarc CORP). Digimarc CORP runs the higher net margin — -47.2% vs -56.2%, a 9.0% gap on every dollar of revenue.

Digimarc Corporation is a provider of enterprise software and services. The company's software, which includes digital identifiers, is designed to address counterfeiting, product authenticity, recycling accuracy, and supply chain traceability. Digimarc products are created for multiple industries such as apparel, consumer packaged goods, health and beauty, and automotive.

Golden Heaven Group Holdings Ltd. operates large-scale amusement parks, cultural tourism complexes and family-focused leisure venues primarily across mainland China. Its core services include thrill rides, themed entertainment zones, cultural experience activities, plus supporting catering and retail offerings, catering to leisure demands of consumers across all age groups.

DMRC vs GDHG — Head-to-Head

Bigger by revenue
GDHG
GDHG
1.7× larger
GDHG
$15.3M
$8.9M
DMRC
Higher net margin
DMRC
DMRC
9.0% more per $
DMRC
-47.2%
-56.2%
GDHG

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
DMRC
DMRC
GDHG
GDHG
Revenue
$8.9M
$15.3M
Net Profit
$-4.2M
$-8.6M
Gross Margin
63.5%
50.2%
Operating Margin
-48.2%
-44.5%
Net Margin
-47.2%
-56.2%
Revenue YoY
2.9%
Net Profit YoY
51.4%
EPS (diluted)
$-0.18
$-10.83

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
DMRC
DMRC
GDHG
GDHG
Q4 25
$8.9M
Q3 25
$7.6M
$15.3M
Q2 25
$8.0M
Q1 25
$9.4M
$13.8M
Q4 24
$8.7M
Q3 24
$9.4M
Q2 24
$10.4M
Q1 24
$9.9M
$13.8M
Net Profit
DMRC
DMRC
GDHG
GDHG
Q4 25
$-4.2M
Q3 25
$-8.2M
$-8.6M
Q2 25
$-8.2M
Q1 25
$-11.7M
Q4 24
$-8.6M
Q3 24
$-10.8M
Q2 24
$-9.3M
Q1 24
$-10.3M
$2.5M
Gross Margin
DMRC
DMRC
GDHG
GDHG
Q4 25
63.5%
Q3 25
58.3%
50.2%
Q2 25
58.8%
Q1 25
65.0%
52.0%
Q4 24
60.8%
Q3 24
62.4%
Q2 24
66.1%
Q1 24
62.5%
52.0%
Operating Margin
DMRC
DMRC
GDHG
GDHG
Q4 25
-48.2%
Q3 25
-109.7%
-44.5%
Q2 25
-105.2%
Q1 25
-128.9%
Q4 24
-105.1%
Q3 24
-120.4%
Q2 24
-96.2%
Q1 24
-109.2%
25.5%
Net Margin
DMRC
DMRC
GDHG
GDHG
Q4 25
-47.2%
Q3 25
-106.9%
-56.2%
Q2 25
-102.6%
Q1 25
-125.2%
Q4 24
-99.9%
Q3 24
-113.9%
Q2 24
-89.3%
Q1 24
-104.0%
18.4%
EPS (diluted)
DMRC
DMRC
GDHG
GDHG
Q4 25
$-0.18
Q3 25
$-0.38
$-10.83
Q2 25
$-0.38
Q1 25
$-0.55
Q4 24
$-0.40
Q3 24
$-0.50
Q2 24
$-0.43
Q1 24
$-0.50

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
DMRC
DMRC
GDHG
GDHG
Cash + ST InvestmentsLiquidity on hand
$12.9M
$86.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$40.2M
$180.7M
Total Assets
$53.0M
$191.4M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DMRC
DMRC
GDHG
GDHG
Q4 25
$12.9M
Q3 25
$12.6M
$86.0M
Q2 25
$16.1M
Q1 25
$21.6M
$19.8M
Q4 24
$28.7M
Q3 24
$33.7M
Q2 24
$41.5M
Q1 24
$48.9M
$129.4K
Stockholders' Equity
DMRC
DMRC
GDHG
GDHG
Q4 25
$40.2M
Q3 25
$41.4M
$180.7M
Q2 25
$46.5M
Q1 25
$50.0M
$83.7M
Q4 24
$61.4M
Q3 24
$70.2M
Q2 24
$77.2M
Q1 24
$84.5M
$64.3M
Total Assets
DMRC
DMRC
GDHG
GDHG
Q4 25
$53.0M
Q3 25
$55.4M
$191.4M
Q2 25
$60.7M
Q1 25
$66.5M
$98.6M
Q4 24
$75.8M
Q3 24
$85.0M
Q2 24
$93.4M
Q1 24
$99.7M
$82.9M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
DMRC
DMRC
GDHG
GDHG
Operating Cash FlowLast quarter
$991.0K
$19.0M
Free Cash FlowOCF − Capex
$895.0K
FCF MarginFCF / Revenue
10.0%
Capex IntensityCapex / Revenue
1.1%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-12.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DMRC
DMRC
GDHG
GDHG
Q4 25
$991.0K
Q3 25
$-2.6M
$19.0M
Q2 25
$-4.7M
Q1 25
$-5.5M
Q4 24
$-4.2M
Q3 24
$-7.1M
Q2 24
$-6.8M
Q1 24
$-8.4M
$-911.6K
Free Cash Flow
DMRC
DMRC
GDHG
GDHG
Q4 25
$895.0K
Q3 25
$-2.8M
Q2 25
$-4.9M
Q1 25
$-5.5M
Q4 24
$-4.2M
Q3 24
$-7.2M
Q2 24
$-6.9M
Q1 24
$-8.5M
$-924.9K
FCF Margin
DMRC
DMRC
GDHG
GDHG
Q4 25
10.0%
Q3 25
-36.9%
Q2 25
-61.0%
Q1 25
-59.1%
Q4 24
-49.1%
Q3 24
-75.7%
Q2 24
-66.1%
Q1 24
-85.8%
-6.7%
Capex Intensity
DMRC
DMRC
GDHG
GDHG
Q4 25
1.1%
Q3 25
2.9%
Q2 25
2.5%
Q1 25
0.6%
Q4 24
0.2%
Q3 24
0.7%
Q2 24
0.3%
Q1 24
1.1%
0.1%
Cash Conversion
DMRC
DMRC
GDHG
GDHG
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
-0.36×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

DMRC
DMRC

Subscription$5.3M60%
The Government$3.6M41%

GDHG
GDHG

Segment breakdown not available.

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