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Digimarc CORP（DMRC）与LiveWire Group, Inc.（LVWR）财务数据对比。点击上方公司名可切换其他公司
LiveWire Group, Inc.的季度营收约是Digimarc CORP的1.3倍（$11.4M vs $8.9M），Digimarc CORP净利率更高（-47.2% vs -155.2%，领先108.0%），LiveWire Group, Inc.同比增速更快（5.5% vs 2.9%），Digimarc CORP自由现金流更多（$895.0K vs $-8.9M），过去两年LiveWire Group, Inc.的营收复合增速更高（51.0% vs -5.3%）
迪吉马克公司是一家企业软件与服务提供商，其主打产品包含带数字标识符的软件，主要用于解决防伪问题、验证产品真伪、提升回收准确性以及实现供应链可追溯，产品可广泛应用于服装、快消品、美妆健康、汽车等多个行业领域。
LiveWire集团是美国的电动摩托车制造商，该品牌最初于2021年7月作为哈雷戴维森旗下专属电动出行部门推出，2022年9月27日通过与特殊目的收购公司合并完成分拆，从母公司独立后上市，是美国第一家上市的电动摩托车企业。
DMRC vs LVWR — 直观对比
营收规模更大
LVWR
是对方的1.3倍
$8.9M
营收增速更快
LVWR
高出2.6%
2.9%
净利率更高
DMRC
高出108.0%
-155.2%
自由现金流更多
DMRC
多$9.8M
$-8.9M
两年增速更快
LVWR
近两年复合增速
-5.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $8.9M | $11.4M |
| 净利润 | $-4.2M | $-17.6M |
| 毛利率 | 63.5% | 0.8% |
| 营业利润率 | -48.2% | -156.2% |
| 净利率 | -47.2% | -155.2% |
| 营收同比 | 2.9% | 5.5% |
| 净利润同比 | 51.4% | 22.6% |
| 每股收益（稀释后） | $-0.18 | $-0.09 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收DMRCLVWR
| Q4 25 | $8.9M | $11.4M | ||
| Q3 25 | $7.6M | $5.7M | ||
| Q2 25 | $8.0M | $5.9M | ||
| Q1 25 | $9.4M | $2.7M | ||
| Q4 24 | $8.7M | $10.8M | ||
| Q3 24 | $9.4M | $4.4M | ||
| Q2 24 | $10.4M | $6.4M | ||
| Q1 24 | $9.9M | $5.0M |
净利润DMRCLVWR
| Q4 25 | $-4.2M | $-17.6M | ||
| Q3 25 | $-8.2M | $-19.4M | ||
| Q2 25 | $-8.2M | $-18.8M | ||
| Q1 25 | $-11.7M | $-19.3M | ||
| Q4 24 | $-8.6M | $-22.8M | ||
| Q3 24 | $-10.8M | $-22.7M | ||
| Q2 24 | $-9.3M | $-24.8M | ||
| Q1 24 | $-10.3M | $-23.6M |
毛利率DMRCLVWR
| Q4 25 | 63.5% | 0.8% | ||
| Q3 25 | 58.3% | -50.9% | ||
| Q2 25 | 58.8% | 9.3% | ||
| Q1 25 | 65.0% | -79.0% | ||
| Q4 24 | 60.8% | -49.8% | ||
| Q3 24 | 62.4% | -34.2% | ||
| Q2 24 | 66.1% | -27.6% | ||
| Q1 24 | 62.5% | -82.9% |
营业利润率DMRCLVWR
| Q4 25 | -48.2% | -156.2% | ||
| Q3 25 | -109.7% | -330.0% | ||
| Q2 25 | -105.2% | -311.0% | ||
| Q1 25 | -128.9% | -753.4% | ||
| Q4 24 | -105.1% | -234.6% | ||
| Q3 24 | -120.4% | -596.7% | ||
| Q2 24 | -96.2% | -436.7% | ||
| Q1 24 | -109.2% | -611.1% |
净利率DMRCLVWR
| Q4 25 | -47.2% | -155.2% | ||
| Q3 25 | -106.9% | -340.2% | ||
| Q2 25 | -102.6% | -320.6% | ||
| Q1 25 | -125.2% | -702.6% | ||
| Q4 24 | -99.9% | -211.7% | ||
| Q3 24 | -113.9% | -510.6% | ||
| Q2 24 | -89.3% | -384.6% | ||
| Q1 24 | -104.0% | -475.0% |
每股收益（稀释后）DMRCLVWR
| Q4 25 | $-0.18 | $-0.09 | ||
| Q3 25 | $-0.38 | $-0.10 | ||
| Q2 25 | $-0.38 | $-0.09 | ||
| Q1 25 | $-0.55 | $-0.09 | ||
| Q4 24 | $-0.40 | $-0.11 | ||
| Q3 24 | $-0.50 | $-0.11 | ||
| Q2 24 | $-0.43 | $-0.12 | ||
| Q1 24 | $-0.50 | $-0.12 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $12.9M | $82.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $40.2M | $46.0M |
| 总资产 | $53.0M | $146.4M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DMRCLVWR
| Q4 25 | $12.9M | $82.8M | ||
| Q3 25 | $12.6M | $16.3M | ||
| Q2 25 | $16.1M | $29.3M | ||
| Q1 25 | $21.6M | $46.2M | ||
| Q4 24 | $28.7M | $64.4M | ||
| Q3 24 | $33.7M | $88.4M | ||
| Q2 24 | $41.5M | $113.0M | ||
| Q1 24 | $48.9M | $141.0M |
股东权益DMRCLVWR
| Q4 25 | $40.2M | $46.0M | ||
| Q3 25 | $41.4M | $61.8M | ||
| Q2 25 | $46.5M | $79.7M | ||
| Q1 25 | $50.0M | $97.2M | ||
| Q4 24 | $61.4M | $115.1M | ||
| Q3 24 | $70.2M | $137.7M | ||
| Q2 24 | $77.2M | $159.0M | ||
| Q1 24 | $84.5M | $183.8M |
总资产DMRCLVWR
| Q4 25 | $53.0M | $146.4M | ||
| Q3 25 | $55.4M | $89.2M | ||
| Q2 25 | $60.7M | $109.8M | ||
| Q1 25 | $66.5M | $128.3M | ||
| Q4 24 | $75.8M | $148.0M | ||
| Q3 24 | $85.0M | $178.3M | ||
| Q2 24 | $93.4M | $204.9M | ||
| Q1 24 | $99.7M | $237.1M |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $991.0K | $-7.9M |
| 自由现金流经营现金流 - 资本支出 | $895.0K | $-8.9M |
| 自由现金流率自由现金流/营收 | 10.0% | -78.7% |
| 资本支出强度资本支出/营收 | 1.1% | 9.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-12.3M | $-57.4M |
8季度趋势，按日历期对齐
经营现金流DMRCLVWR
| Q4 25 | $991.0K | $-7.9M | ||
| Q3 25 | $-2.6M | $-13.3M | ||
| Q2 25 | $-4.7M | $-14.9M | ||
| Q1 25 | $-5.5M | $-17.5M | ||
| Q4 24 | $-4.2M | $-21.9M | ||
| Q3 24 | $-7.1M | $-23.1M | ||
| Q2 24 | $-6.8M | $-26.0M | ||
| Q1 24 | $-8.4M | $-22.9M |
自由现金流DMRCLVWR
| Q4 25 | $895.0K | $-8.9M | ||
| Q3 25 | $-2.8M | $-14.0M | ||
| Q2 25 | $-4.9M | $-16.3M | ||
| Q1 25 | $-5.5M | $-18.1M | ||
| Q4 24 | $-4.2M | $-23.3M | ||
| Q3 24 | $-7.2M | $-24.7M | ||
| Q2 24 | $-6.9M | $-27.8M | ||
| Q1 24 | $-8.5M | $-26.2M |
自由现金流率DMRCLVWR
| Q4 25 | 10.0% | -78.7% | ||
| Q3 25 | -36.9% | -245.9% | ||
| Q2 25 | -61.0% | -277.7% | ||
| Q1 25 | -59.1% | -660.0% | ||
| Q4 24 | -49.1% | -216.3% | ||
| Q3 24 | -75.7% | -555.3% | ||
| Q2 24 | -66.1% | -431.1% | ||
| Q1 24 | -85.8% | -525.6% |
资本支出强度DMRCLVWR
| Q4 25 | 1.1% | 9.1% | ||
| Q3 25 | 2.9% | 12.9% | ||
| Q2 25 | 2.5% | 24.3% | ||
| Q1 25 | 0.6% | 22.3% | ||
| Q4 24 | 0.2% | 13.1% | ||
| Q3 24 | 0.7% | 35.6% | ||
| Q2 24 | 0.3% | 28.5% | ||
| Q1 24 | 1.1% | 65.1% |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
DMRC
| Subscription | $5.3M | 60% |
| The Government | $3.6M | 41% |
LVWR
| STACYC Segment | $7.5M | 66% |
| Other | $3.8M | 34% |
