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Digimarc CORP（DMRC）与cbdMD, Inc.（YCBD）财务数据对比。点击上方公司名可切换其他公司
Digimarc CORP的季度营收约是cbdMD, Inc.的1.8倍（$8.9M vs $5.0M），cbdMD, Inc.净利率更高（-5.6% vs -47.2%，领先41.6%），Digimarc CORP同比增速更快（2.9% vs -1.9%），Digimarc CORP自由现金流更多（$895.0K vs $-977.3K），过去两年cbdMD, Inc.的营收复合增速更高（7.1% 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。
cbdMD是一家总部位于美国的消费健康企业，生产销售大麻二酚（CBD）衍生健康产品，包括酊剂、外用护理品、软糖、宠物护理用品及洗浴用品等，产品经第三方质量检测，通过电商、线下零售及健康合作渠道在美国市场发售。
DMRC vs YCBD — 直观对比
营收规模更大
DMRC
是对方的1.8倍
$5.0M
营收增速更快
DMRC
高出4.8%
-1.9%
净利率更高
YCBD
高出41.6%
-47.2%
自由现金流更多
DMRC
多$1.9M
$-977.3K
两年增速更快
YCBD
近两年复合增速
-5.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $8.9M | $5.0M |
| 净利润 | $-4.2M | $-283.1K |
| 毛利率 | 63.5% | 59.8% |
| 营业利润率 | -48.2% | -5.7% |
| 净利率 | -47.2% | -5.6% |
| 营收同比 | 2.9% | -1.9% |
| 净利润同比 | 51.4% | -1975.7% |
| 每股收益（稀释后） | $-0.18 | — |
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DMRCYCBD
| Q4 25 | $8.9M | $5.0M | ||
| Q3 25 | $7.6M | $4.7M | ||
| Q2 25 | $8.0M | $4.6M | ||
| Q1 25 | $9.4M | $4.7M | ||
| Q4 24 | $8.7M | $5.1M | ||
| Q3 24 | $9.4M | $4.6M | ||
| Q2 24 | $10.4M | $5.2M | ||
| Q1 24 | $9.9M | $4.4M |
净利润DMRCYCBD
| Q4 25 | $-4.2M | $-283.1K | ||
| Q3 25 | $-8.2M | $-680.0K | ||
| Q2 25 | $-8.2M | $-895.3K | ||
| Q1 25 | $-11.7M | $-480.8K | ||
| Q4 24 | $-8.6M | $15.1K | ||
| Q3 24 | $-10.8M | $-152.8K | ||
| Q2 24 | $-9.3M | $459.7K | ||
| Q1 24 | $-10.3M | $-3.0M |
毛利率DMRCYCBD
| Q4 25 | 63.5% | 59.8% | ||
| Q3 25 | 58.3% | 58.8% | ||
| Q2 25 | 58.8% | 61.5% | ||
| Q1 25 | 65.0% | 62.3% | ||
| Q4 24 | 60.8% | 66.5% | ||
| Q3 24 | 62.4% | 53.9% | ||
| Q2 24 | 66.1% | 65.8% | ||
| Q1 24 | 62.5% | 59.0% |
营业利润率DMRCYCBD
| Q4 25 | -48.2% | -5.7% | ||
| Q3 25 | -109.7% | -14.5% | ||
| Q2 25 | -105.2% | -19.6% | ||
| Q1 25 | -128.9% | -10.2% | ||
| Q4 24 | -105.1% | -1.7% | ||
| Q3 24 | -120.4% | -6.9% | ||
| Q2 24 | -96.2% | -7.4% | ||
| Q1 24 | -109.2% | -35.4% |
净利率DMRCYCBD
| Q4 25 | -47.2% | -5.6% | ||
| Q3 25 | -106.9% | -14.4% | ||
| Q2 25 | -102.6% | -19.4% | ||
| Q1 25 | -125.2% | -10.1% | ||
| Q4 24 | -99.9% | 0.3% | ||
| Q3 24 | -113.9% | -3.4% | ||
| Q2 24 | -89.3% | 8.9% | ||
| Q1 24 | -104.0% | -68.8% |
每股收益（稀释后）DMRCYCBD
| Q4 25 | $-0.18 | — | ||
| Q3 25 | $-0.38 | — | ||
| Q2 25 | $-0.38 | — | ||
| Q1 25 | $-0.55 | — | ||
| Q4 24 | $-0.40 | — | ||
| Q3 24 | $-0.50 | — | ||
| Q2 24 | $-0.43 | $-0.15 | ||
| Q1 24 | $-0.50 | $-1.35 |
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 | $3.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $40.2M | $9.0M |
| 总资产 | $53.0M | $11.8M |
| 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DMRCYCBD
| Q4 25 | $12.9M | $3.4M | ||
| Q3 25 | $12.6M | $2.3M | ||
| Q2 25 | $16.1M | $1.1M | ||
| Q1 25 | $21.6M | $1.8M | ||
| Q4 24 | $28.7M | $2.0M | ||
| Q3 24 | $33.7M | $2.5M | ||
| Q2 24 | $41.5M | $2.4M | ||
| Q1 24 | $48.9M | $2.1M |
股东权益DMRCYCBD
| Q4 25 | $40.2M | $9.0M | ||
| Q3 25 | $41.4M | $7.2M | ||
| Q2 25 | $46.5M | $6.1M | ||
| Q1 25 | $50.0M | $665.8K | ||
| Q4 24 | $61.4M | $1.8M | ||
| Q3 24 | $70.2M | $2.0M | ||
| Q2 24 | $77.2M | $3.0M | ||
| Q1 24 | $84.5M | $3.1M |
总资产DMRCYCBD
| Q4 25 | $53.0M | $11.8M | ||
| Q3 25 | $55.4M | $10.4M | ||
| Q2 25 | $60.7M | $9.9M | ||
| Q1 25 | $66.5M | $10.9M | ||
| Q4 24 | $75.8M | $11.5M | ||
| Q3 24 | $85.0M | $10.6M | ||
| Q2 24 | $93.4M | $13.8M | ||
| Q1 24 | $99.7M | $14.6M |
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 | $-812.5K |
| 自由现金流经营现金流 - 资本支出 | $895.0K | $-977.3K |
| 自由现金流率自由现金流/营收 | 10.0% | -19.5% |
| 资本支出强度资本支出/营收 | 1.1% | 3.3% |
| 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 | $-2.1M |
8季度趋势，按日历期对齐
经营现金流DMRCYCBD
| Q4 25 | $991.0K | $-812.5K | ||
| Q3 25 | $-2.6M | $-240.7K | ||
| Q2 25 | $-4.7M | $-704.2K | ||
| Q1 25 | $-5.5M | $-189.5K | ||
| Q4 24 | $-4.2M | $-317.9K | ||
| Q3 24 | $-7.1M | $167.4K | ||
| Q2 24 | $-6.8M | $289.8K | ||
| Q1 24 | $-8.4M | $-704.1K |
自由现金流DMRCYCBD
| Q4 25 | $895.0K | $-977.3K | ||
| Q3 25 | $-2.8M | $-243.6K | ||
| Q2 25 | $-4.9M | $-705.7K | ||
| Q1 25 | $-5.5M | $-205.0K | ||
| Q4 24 | $-4.2M | $-482.3K | ||
| Q3 24 | $-7.2M | $157.4K | ||
| Q2 24 | $-6.9M | — | ||
| Q1 24 | $-8.5M | $-708.7K |
自由现金流率DMRCYCBD
| Q4 25 | 10.0% | -19.5% | ||
| Q3 25 | -36.9% | -5.2% | ||
| Q2 25 | -61.0% | -15.3% | ||
| Q1 25 | -59.1% | -4.3% | ||
| Q4 24 | -49.1% | -9.4% | ||
| Q3 24 | -75.7% | 3.5% | ||
| Q2 24 | -66.1% | — | ||
| Q1 24 | -85.8% | -16.2% |
资本支出强度DMRCYCBD
| Q4 25 | 1.1% | 3.3% | ||
| Q3 25 | 2.9% | 0.1% | ||
| Q2 25 | 2.5% | 0.0% | ||
| Q1 25 | 0.6% | 0.3% | ||
| Q4 24 | 0.2% | 3.2% | ||
| Q3 24 | 0.7% | 0.2% | ||
| Q2 24 | 0.3% | 0.0% | ||
| Q1 24 | 1.1% | 0.1% |
现金转化率DMRCYCBD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -21.06× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | — |
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% |
YCBD
| Sales Channel Directly To Consumer | $3.6M | 72% |
| Sales Channel Through Intermediary | $1.4M | 28% |
