Digimarc is the inventor of the Digimarc® Barcode, which enables industrial scanners, smartphones, tablets, and other computer interfaces to reliably, efficiently and economically identify traditional barcoded items, along with many other media objects.

The Story

In 2010, Digimarc had a rich intellectual property portfolio and stable licensee base but was misunderstood by investors due to its complex story and limited financial visibility. Digimarc engaged Liolios to develop a communications strategy and proactive marketing program in order to elevate the company’s profile on Wall Street.

Strategy & Tactics

  • Initiated a perception study focused on current shareholders and analysts
  • Evaluated all investor materials and communications protocol
  • Identified key alternative metrics for investors to track the company’s progress
  • Executed a proactive outreach program to educate the capital markets on the company’s new positioning, including Liolios-sponsored road shows, sell-side conferences and regular investor calls
  • Committed to at least two investor marketing events per quarter


  • Presented at 23 quality sell-side conferences and participated on 27 non-deal road shows
  • Stock and average trading volume increased more than 150%
  • Average daily dollar volume increased by more than 500%
  • Sell-side analyst coverage increased from one to four analysts


Company Info

Location: Beaverton, Oregon
Industry: Technology
Year of Engagement: 2010