Immersion Corporation Reports Second Quarter of Fiscal 2025 Results
Immersion (IMMR) reported strong financial results for Q2 FY2025. Total revenues reached $616.2 million, compared to $7.0 million in the previous comparable period. GAAP net income attributable to stockholders was $27.2 million ($0.83 per diluted share), up from $7.0 million ($0.21 per diluted share). Non-GAAP net income was $40.2 million ($1.22 per diluted share), compared to $8.4 million ($0.26 per diluted share).
The company acquired a 42% stake in Barnes & Noble Education on June 10, 2024, which was later reduced to 41.2%. The Board declared a special cash dividend of $0.245 per share, payable on January 24, 2025, to stockholders of record on January 10, 2025.
Immersion (IMMR) ha riportato risultati finanziari forti per il secondo trimestre dell'anno fiscale 2025. I ricavi totali hanno raggiunto 616,2 milioni di dollari, rispetto a 7,0 milioni di dollari nel periodo comparabile precedente. L'utile netto GAAP attribuibile agli azionisti è stato di 27,2 milioni di dollari (0,83 dollari per azione diluita), in aumento rispetto a 7,0 milioni di dollari (0,21 dollari per azione diluita). L'utile netto non GAAP è stato di 40,2 milioni di dollari (1,22 dollari per azione diluita), rispetto a 8,4 milioni di dollari (0,26 dollari per azione diluita).
L'azienda ha acquisito una partecipazione del 42% in Barnes & Noble Education il 10 giugno 2024, che è stata successivamente ridotta al 41,2%. Il Consiglio ha dichiarato un dividendo in contante speciale di 0,245 dollari per azione, pagabile il 24 gennaio 2025, agli azionisti registrati il 10 gennaio 2025.
Immersion (IMMR) informó resultados financieros sólidos para el segundo trimestre del año fiscal 2025. Los ingresos totales alcanzaron 616.2 millones de dólares, en comparación con 7.0 millones de dólares en el período comparable anterior. El ingreso neto GAAP atribuible a los accionistas fue de 27.2 millones de dólares (0.83 dólares por acción diluida), un aumento respecto a 7.0 millones de dólares (0.21 dólares por acción diluida). El ingreso neto no GAAP fue de 40.2 millones de dólares (1.22 dólares por acción diluida), en comparación con 8.4 millones de dólares (0.26 dólares por acción diluida).
La empresa adquirió un 42% de participación en Barnes & Noble Education el 10 de junio de 2024, que posteriormente se redujo al 41.2%. La Junta declaró un dividendo especial en efectivo de 0.245 dólares por acción, pagadero el 24 de enero de 2025, a los accionistas registrados el 10 de enero de 2025.
임머전 (IMMR)은 2025 회계연도 2분기 강력한 재무 결과를 보고했습니다. 총 수익은 6억 1,620만 달러에 달하며, 이는 이전 비교 기간의 700만 달러와 비교됩니다. 주주에게 귀속된 GAAP 순이익은 2,720만 달러 (희석주당 0.83달러)로, 이전의 700만 달러 (희석주당 0.21달러)에서 증가했습니다. 비 GAAP 순이익은 4,020만 달러 (희석주당 1.22달러)로, 840만 달러 (희석주당 0.26달러)와 비교됩니다.
회사는 2024년 6월 10일 바른스 앤 노블 교육의 42% 지분을 인수했으며, 이후 41.2%로 줄어들었습니다. 이사회는 주당 0.245달러의 특별 현금 배당금을 선언하였으며, 이는 2025년 1월 24일에 지급되며, 2025년 1월 10일에 등록된 주주들에게 지급될 예정입니다.
Immersion (IMMR) a présenté des résultats financiers solides pour le deuxième trimestre de l'exercice 2025. Les revenus totaux ont atteint 616,2 millions de dollars, contre 7,0 millions de dollars au cours de la période comparable précédente. Le bénéfice net GAAP imputable aux actionnaires s'élevait à 27,2 millions de dollars (0,83 dollar par action diluée), en hausse par rapport à 7,0 millions de dollars (0,21 dollar par action diluée). Le bénéfice net non-GAAP était de 40,2 millions de dollars (1,22 dollar par action diluée), contre 8,4 millions de dollars (0,26 dollar par action diluée).
La société a acquis une participation de 42% dans Barnes & Noble Education le 10 juin 2024, qui a ensuite été réduite à 41,2%. Le Conseil a déclaré un dividende exceptionnel en espèces de 0,245 dollar par action, payable le 24 janvier 2025, aux actionnaires enregistrés le 10 janvier 2025.
Immersion (IMMR) berichtete über starke Finanzergebnisse für das zweite Quartal des Geschäftsjahres 2025. Die Gesamterlöse beliefen sich auf 616,2 Millionen US-Dollar, verglichen mit 7,0 Millionen US-Dollar im vorhergehenden Vergleichszeitraum. Der GAAP-Nettoertrag, der den Aktionären zurechenbar ist, betrug 27,2 Millionen US-Dollar (0,83 US-Dollar pro verwässerter Aktie), ein Anstieg gegenüber 7,0 Millionen US-Dollar (0,21 US-Dollar pro verwässerter Aktie). Der Non-GAAP-Nettoertrag betrug 40,2 Millionen US-Dollar (1,22 US-Dollar pro verwässerter Aktie), verglichen mit 8,4 Millionen US-Dollar (0,26 US-Dollar pro verwässerter Aktie).
Das Unternehmen erwarb am 10. Juni 2024 einen 42% Anteil an Barnes & Noble Education, der später auf 41,2% reduziert wurde. Der Vorstand erklärte eine Sonderbar-Dividende von 0,245 US-Dollar pro Aktie, die am 24. Januar 2025 an die am 10. Januar 2025 eingetragenen Aktionäre ausgezahlt wird.
- Substantial revenue growth to $616.2M from $7.0M YoY
- GAAP net income increased to $27.2M ($0.83/share) from $7.0M ($0.21/share)
- Non-GAAP net income rose to $40.2M ($1.22/share) from $8.4M ($0.26/share)
- Special dividend of $0.245 per share announced
- Operating expenses increased significantly to $86.3M from $3.9M
- Non-GAAP operating expenses rose to $73.2M from $2.5M
- Reduction in Barnes & Noble Education ownership stake from 42% to 41.2%
Insights
The Q2 FY2025 results showcase remarkable growth, with revenue surging to
The 41.2% ownership in Barnes & Noble Education marks a transformative shift in Immersion's business model, substantially expanding its revenue base. Operating expenses increased proportionally to
The consolidation with Barnes & Noble Education represents a strategic pivot for Immersion, transforming it from a pure-play haptics technology provider into a more diversified entity. The company's control through five board seats, despite holding a minority
The fiscal year-end adjustment to align with Barnes & Noble Education's calendar suggests deeper operational integration is planned. While this temporarily complicates year-over-year comparisons, the massive revenue expansion demonstrates the deal's immediate accretive nature. The special dividend announcement signals management's confidence in maintaining strong cash flows while pursuing this strategic transformation.
GAAP Net Income Attributable to Immersion stockholders of
Non-GAAP Net Income Attributable to Immersion stockholders of
Second Quarter of Fiscal 2025 Consolidated Financial Summary1:
• |
Total revenues of |
• |
GAAP net income attributable to Immersion Corporation stockholders was |
• |
GAAP operating expenses of |
• |
Non-GAAP net income attributable to Immersion Corporation stockholders was |
1 On June 10, 2024, the Company closed certain transactions with Barnes & Noble Education, Inc. (“Barnes & Noble Education”). As part of the transactions, the Company acquired
“Immersion executed well against its key business objectives in the quarter,” said Eric Singer, Chairman and CEO. “Underscoring our financial strength, we announced a special dividend of
In order to more closely align with Barnes & Noble Education’s fiscal year end, on September 27, 2024, the Board of Directors of Immersion (the “Board”) approved a change of our fiscal year from the period beginning on January 1 and ending on December 31 to the period beginning on May 1 and ending on April 30. Our new fiscal quarters end on July 31, October 31, January 31, and April 30. Therefore, the financial results of certain fiscal quarters may not be comparable to prior fiscal quarters. We did not recast the condensed consolidated financial statements for the three and six months ended October 31, 2023, because the financial reporting processes in place at that time included certain procedures that were completed only on a quarterly basis. Consequently, to recast this period would have been impractical and would not have been cost-justified. As a result, the condensed consolidated financial statements for the three and six months ended June 30, 2023, are presented as the most comparable quarter of the prior year.
The condensed consolidated financial information presented includes the financial information of Barnes & Noble Education for the 13 weeks ended October 26, 2024, and for period from June 10, 2024, to October 31, 2024.
On November 8, 2024, our Board declared a special cash dividend of
About Immersion Corporation
Immersion Corporation (Nasdaq: IMMR) was incorporated in 1993 in
The Company is a leading provider of touch feedback technology, also known as haptics. The Company accelerates and scales haptic experiences by providing haptic technology for mobile, automotive, gaming, and consumer electronics. Haptic technology creates immersive and realistic experiences that enhance digital interactions by engaging users’ sense of touch. Learn more at www.immersion.com.
On June 10, 2024, we acquired a controlling interest in Barnes & Noble Education. Barnes & Noble Education is a contract operator of physical and virtual bookstores for college and university campuses and K-12 institutions across
Use of Non-GAAP Financial Measures
The Company reports all financial information required in accordance with generally accepted accounting principles (“GAAP”), but it believes that evaluating its ongoing operating results may be difficult to understand if limited to reviewing only GAAP financial measures. The Company discloses certain non-GAAP information, such as Non-GAAP net income attributable to Immersion stockholders, Non-GAAP net income per diluted common share attributable to Immersion stockholders, and Non-GAAP operating expenses because it is useful in understanding the Company’s performance as it excludes certain non-cash expenses like stock-based compensation expense, depreciation and amortization of property and equipment, restructuring expense, business acquisition related costs and other nonrecurring charges that many investors feel may obscure the Company’s true operating performance. Likewise, management uses these non-GAAP financial measures to manage and assess the profitability of its business. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company’s reported results under GAAP. The non-GAAP financial measures are not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. Such non-GAAP financial measures are reconciled to their closest GAAP financial measures in tables contained in this press release.
Forward-looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The forward-looking statements involve risks and uncertainties. Forward-looking statements are identified by words such as “anticipates,” “believes,” “expects,” “intends,” “may,” “can,” “will,” “places,” “estimates,” and other similar expressions. However, these words are not the only way we identify forward-looking statements. Examples of forward-looking statements include any expectations, projections, or other characterizations of future events, or circumstances, including but not limited to statements about the Company’s focus on protecting its intellectual property, either through the execution of new or renewal license agreements or by proactive enforcement continuing to pursue thoughtful capital allocation to increase long-term stockholder value, and the timing of any dividend payments.
Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results could differ materially from those projected in the forward-looking statements, therefore we caution you not to place undue reliance on these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the inability to predict the outcome of any litigation, the costs associated with any litigation and the risks related to our business, both direct and indirect, of initiating litigation, unanticipated changes in the markets in which the Company operates; the effects of the current macroeconomic climate; delay in or failure to achieve adoption of or commercial demand for the Company’s products or third party products incorporating the Company’s technologies; the inability of Immersion to renew existing licensing arrangements, or enter into new licensing arrangements on favorable terms; the loss of a major customer; the ability of Immersion to protect and enforce its intellectual property rights and other factors. For a more detailed discussion of these factors, and other factors that could cause actual results to vary materially, interested parties should review the risk factors listed in Immersion’s Annual Report on Form 10-K for 2023 as filed with the
Immersion, and the Immersion logo are trademarks of Immersion Corporation in
(IMMR – C)
Immersion Corporation Condensed Consolidated Balance Sheets (In thousands) (Unaudited) |
|||||||
|
|
October 31, 2024 |
|
|
|
April 30, 2024 |
|
ASSETS |
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
Immersion |
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
68,920 |
|
|
$ |
85,521 |
|
Investments - current |
|
78,809 |
|
|
|
92,848 |
|
Accounts receivable, net |
|
4,315 |
|
|
|
3,138 |
|
Prepaid expenses and other current assets |
|
14,846 |
|
|
|
9,101 |
|
|
|
166,890 |
|
|
|
190,608 |
|
Barnes & Noble Education |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
11,619 |
|
|
|
— |
|
Accounts receivable, net |
|
275,847 |
|
|
|
— |
|
Merchandise inventories, net |
|
315,469 |
|
|
|
— |
|
Textbook rental Inventories, net |
|
49,672 |
|
|
|
— |
|
Prepaid expenses and other current assets |
|
33,329 |
|
|
|
— |
|
|
|
685,936 |
|
|
|
— |
|
Total current assets |
|
852,826 |
|
|
|
190,608 |
|
Immersion |
|
|
|
|
|
|
|
Property and equipment, net |
|
142 |
|
|
|
164 |
|
Investments - noncurrent |
|
37,347 |
|
|
|
46,545 |
|
Long-term deposits |
|
6,293 |
|
|
|
6,324 |
|
Deferred tax assets |
|
3,342 |
|
|
|
2,793 |
|
Other assets - noncurrent |
|
24,398 |
|
|
|
87 |
|
|
|
71,522 |
|
|
|
55,913 |
|
Barnes & Noble Education |
|
|
|
|
|
|
|
Property and equipment, net |
|
107,413 |
|
|
|
— |
|
Intangible assets, net |
|
93,504 |
|
|
|
— |
|
Goodwill |
|
14,220 |
|
|
|
— |
|
Operating lease right-of-use assets |
|
169,250 |
|
|
|
— |
|
Other assets - noncurrent |
|
11,383 |
|
|
|
— |
|
|
|
395,770 |
|
|
|
— |
|
Total assets |
$ |
1,320,118 |
|
|
$ |
246,521 |
|
Immersion Corporation Condensed Consolidated Balance Sheets (Continued) (In thousands) (Unaudited) |
|||||||
|
|
October 31, 2024 |
|
|
|
April 30, 2024 |
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
Immersion |
|
|
|
|
|
|
|
Accounts payable |
$ |
51 |
|
|
$ |
55 |
|
Accrued compensation |
|
2,860 |
|
|
|
4,003 |
|
Deferred revenue - current |
|
2,956 |
|
|
|
12,494 |
|
Other current liabilities |
|
25,478 |
|
|
|
13,654 |
|
|
|
31,345 |
|
|
|
30,206 |
|
Barnes & Noble Education |
|
|
|
|
|
|
|
Accounts payable |
|
298,952 |
|
|
|
— |
|
Accrued liabilities |
|
60,508 |
|
|
|
— |
|
Deferred revenue - current |
|
37,662 |
|
|
|
— |
|
Operating lease liabilities - current |
|
88,730 |
|
|
|
— |
|
|
|
485,852 |
|
|
|
— |
|
Total current liabilities |
|
517,197 |
|
|
|
30,206 |
|
Immersion |
|
|
|
|
|
|
|
Deferred revenue, net |
|
7,262 |
|
|
|
7,978 |
|
Other long-term liabilities |
|
4,946 |
|
|
|
7,107 |
|
|
|
12,208 |
|
|
|
15,085 |
|
Barnes & Noble Education |
|
|
|
|
|
|
|
Deferred tax liabilities, net |
|
2,050 |
|
|
|
— |
|
Operating lease liabilities - noncurrent |
|
114,290 |
|
|
|
— |
|
Deferred revenue - noncurrent |
|
3,215 |
|
|
|
— |
|
Other noncurrent liabilities |
|
11,120 |
|
|
|
— |
|
Long-term borrowings |
|
177,551 |
|
|
|
— |
|
|
|
308,226 |
|
|
|
— |
|
Total liabilities |
|
837,631 |
|
|
|
45,291 |
|
Total stockholders' equity attributable to Immersion Corporation stockholders |
|
310,881 |
|
|
|
201,230 |
|
Noncontrolling interest in consolidated subsidiaries |
|
171,606 |
|
|
|
— |
|
Total stockholders' equity |
|
482,487 |
|
|
|
201,230 |
|
Total liabilities and stockholders' equity |
$ |
1,320,118 |
|
|
$ |
246,521 |
|
Immersion Corporation Condensed Consolidated Statements of Operations (In thousands, except per share amounts) (Unaudited) |
|||||||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
||||||||||||||||
|
|
October 31, 20241 |
|
|
|
June 30, 2023 |
|
|
|
October 31, 20241 |
|
|
|
June 30, 2023 |
|
||||
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Immersion |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Royalty and license |
$ |
14,127 |
|
|
|
$ |
6,983 |
|
|
|
$ |
62,552 |
|
|
|
$ |
14,057 |
|
|
Barnes & Noble Education |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Product and other |
|
559,674 |
|
|
|
|
— |
|
|
|
|
689,792 |
|
|
|
|
— |
|
|
Rental income |
|
42,448 |
|
|
|
|
— |
|
|
|
|
47,394 |
|
|
|
|
— |
|
|
Total revenues |
|
616,249 |
|
|
|
|
6,983 |
|
|
|
|
799,738 |
|
|
|
|
14,057 |
|
|
Cost of sale (excludes depreciation and amortization expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Barnes & Noble Education |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Product and other |
|
443,123 |
|
|
|
|
— |
|
|
|
|
554,004 |
|
|
|
|
— |
|
|
Rental income |
|
22,387 |
|
|
|
|
— |
|
|
|
|
25,183 |
|
|
|
|
— |
|
|
|
|
465,510 |
|
|
|
|
— |
|
|
|
|
579,187 |
|
|
|
|
— |
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Immersion |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Selling and administrative expenses |
|
4,165 |
|
|
|
|
3,870 |
|
|
|
|
17,576 |
|
|
|
|
7,685 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Barnes & Noble Education |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Selling and administrative expenses |
|
72,717 |
|
|
|
|
— |
|
|
|
|
107,324 |
|
|
|
|
— |
|
|
Depreciation and amortization expense |
|
9,391 |
|
|
|
|
— |
|
|
|
|
14,651 |
|
|
|
|
|
|
|
Restructuring and other charges |
|
59 |
|
|
|
|
— |
|
|
|
|
5,064 |
|
|
|
|
— |
|
|
|
|
82,167 |
|
|
|
|
— |
|
|
|
|
127,039 |
|
|
|
|
— |
|
|
Total operating expenses |
|
86,332 |
|
|
|
|
3,870 |
|
|
|
|
144,615 |
|
|
|
|
7,685 |
|
|
Operating income |
|
64,407 |
|
|
|
3,113 |
|
|
|
|
75,936 |
|
|
|
6,372 |
|
|
||
Interest and other income, net |
|
3,540 |
|
|
|
6,759 |
|
|
|
14,236 |
|
|
|
|
13,285 |
|
|
||
Interest expense |
|
(4,547 |
) |
|
|
— |
|
|
|
|
(6,914 |
) |
|
|
— |
|
|
||
Income before provision for income taxes |
|
63,400 |
|
|
|
9,872 |
|
|
|
83,258 |
|
|
|
19,657 |
|
|
|||
Provision for income taxes |
|
(7,641 |
) |
|
|
(2,844 |
) |
|
|
(15,104 |
) |
|
|
(4,351 |
) |
||||
Net income |
$ |
55,759 |
|
|
$ |
7,028 |
|
|
$ |
68,154 |
|
|
$ |
15,306 |
|
|
|||
Net income attributable to noncontrolling interest |
|
28,602 |
|
|
|
— |
|
|
|
|
13,837 |
|
|
|
— |
|
|
||
Net income attributable to Immersion stockholders |
$ |
27,157 |
|
|
$ |
7,028 |
|
|
$ |
54,317 |
|
|
|
$ |
15,306 |
|
|
||
Diluted income per common share attributable to Immersion stockholders |
$ |
0.83 |
|
|
$ |
0.21 |
|
|
|
$ |
1.65 |
|
|
|
$ |
0.47 |
|
|
|
Shares used in calculating diluted net income per share |
|
32,917 |
|
|
|
|
32,810 |
|
|
|
|
32,889 |
|
|
|
|
32,839 |
|
|
1 The financial information presented includes the financial information of Barnes & Noble Education for the 13 weeks and 26 weeks ended October 26, 2024. For purposes of these consolidated financial statements, the results of Barnes & Noble Education herein have been aligned to the Company’s reporting periods. |
Immersion Corporation Reconciliation of GAAP net income attributable to Immersion stockholders to Non-GAAP net income attributable to Immersion stockholders (In thousands, except per share amounts) (Unaudited) |
|||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
||||||||||||
|
|
October 31, 20241 |
|
|
|
June 30, 20232 |
|
|
|
October 31, 20241 |
|
|
|
June 30, 20232 |
|
GAAP net income attributable to Immersion stockholders |
$ |
27,157 |
|
$ |
7,028 |
|
$ |
54,317 |
|
|
$ |
15,306 |
|
||
Add: Stock-based compensation |
|
3,185 |
|
|
|
760 |
|
|
4,800 |
|
|
|
1,707 |
|
|
Depreciation and amortization of property and equipment |
|
9,391 |
|
|
|
21 |
|
|
|
14,680 |
|
|
|
42 |
|
Restructuring expense and other charges |
|
59 |
|
|
|
125 |
|
|
|
5,064 |
|
|
|
312 |
|
Business acquisition related costs |
|
426 |
|
|
|
— |
|
|
|
2,774 |
|
|
|
— |
|
Other nonrecurring charges |
|
31 |
|
|
|
481 |
|
|
|
71 |
|
|
|
560 |
|
Non-GAAP net income attributable to Immersion stockholders |
$ |
40,249 |
|
|
$ |
8,415 |
|
$ |
81,706 |
|
|
$ |
17,927 |
|
|
Non-GAAP net income per diluted common share attributable to Immersion stockholder |
$ |
1.22 |
|
|
$ |
0.26 |
|
$ |
2.48 |
|
|
$ |
0.55 |
|
|
Shares used in calculating Non-GAAP net income per diluted share attributable to Immersion stockholder |
|
32,917 |
|
|
|
32,810 |
|
|
|
32,889 |
|
|
|
32,839 |
|
1 The financial information presented includes the financial information of Barnes & Noble Education for the 13 weeks and 26 weeks ended October 26, 2024. For purposes of these consolidated financial statements, the results of Barnes & Noble Education herein have been aligned to the Company’s reporting periods. |
2 In order to provide for better comparability between periods and a better understanding of underlying trends, the Non-GAAP information above includes an updated presentation of the applicable period of the prior year 2023. |
Immersion Corporation Reconciliation of GAAP Operating Expenses to Non-GAAP Operating Expenses (In thousands) (Unaudited) |
|||||||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
||||||||||||||||
|
|
October 31, 2024 |
|
|
|
June 30, 2023 |
|
|
|
October 31, 2024 |
|
|
|
June 30, 2023 |
|
||||
GAAP operating expenses |
$ |
86,332 |
|
|
|
$ |
3,870 |
|
|
|
$ |
144,615 |
|
|
|
$ |
7,685 |
|
|
Adjustments to GAAP operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Stock-based compensation expense |
|
(3,185 |
) |
|
|
(760 |
) |
|
|
(4,800 |
) |
|
|
(1,707 |
) |
||||
Depreciation and amortization expense of property and equipment |
|
(9,391 |
) |
|
|
(21 |
) |
|
|
(14,680 |
) |
|
|
(42 |
) |
||||
Restructuring expense charges |
|
(59 |
) |
|
|
(125 |
) |
|
|
(5,064 |
) |
|
|
(312 |
) |
||||
Business acquisition related costs |
|
(426 |
) |
|
|
— |
|
|
|
(2,774 |
) |
|
|
— |
|
||||
Other nonrecurring charges |
|
(31 |
) |
|
|
(481 |
) |
|
|
(71 |
) |
|
|
(560 |
) |
||||
Non-GAAP operating expenses |
$ |
73,240 |
|
|
$ |
2,483 |
|
|
|
$ |
117,226 |
|
|
|
$ |
5,064 |
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20241216031626/en/
Investor Contact:
J. Michael Dodson
Immersion Corporation
mdodson@immersion.com
Source: Immersion Corporation
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