The software company and inventor of a namesake barcode posted $5.7 million in revenue, beating Street estimates of $5.4 million. Earnings came in at a loss of $0.74 per share, bigger than the $0.72 loss analysts called for.
The stock rocketed nearly 49% to $49.28.
On Tuesday, Digimarc announced it was teaming up with Walmart Inc (NYSE:WMT) to implement its barcode system on fresh produce. The plan is to reduce food waste and automate the price markdown process with labels resistant to the common problems of misprints, smudging and tearing.
"This program coalesces efforts to benefit society with Walmart's dedication to everyday low prices," CEO Bruce Davis said. "We look forward to helping Walmart reduce food waste and save money for consumers through the use of this program."
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