I
IMMERSION CORP
IMMRCIK 0001058811NasdaqNon-AcceleratedSmaller ReportingComputer Peripheral Equipment, NecDelawareFY ends Apr 30
Period
FY 2025
Revenue
$1.56B
Net Income
$64.28M
Total Assets
$1.10B
Equity
$298.13M
Shares Out
33.10M
Op. Cash Flow
$-57.58M
Business
IMMERSION CORP is a licensing company that develops and licenses haptic technologies that enable tactile interaction with digital products. It offers patented haptic IP, technology licenses, enabling software, tools and technical assistance to integrate tactile feedback into devices and content. Its business centers on patent and technology licensing across markets including mobile/mobility, gaming and VR/AR, automotive, wearables and other IoT applications. It distributes its offerings globally through license agreements with OEMs, integrated circuit manufacturers, gaming companies and other device and component suppliers.
Summary from filing dated 2024-03-11
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-04-30 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 | FY 2020 2020-12-31 |
|---|---|---|---|---|---|---|
| Total revenues | 1,556 | 34 | 38 | 35 | 30 | |
| Total operating expenses | 314 | 16 | 14 | — | — | |
| Operating Income (Loss) | 118 | 18 | 24 | 18 | 2 | |
| Interest and other income (expense), net | 16 | 25 | — | — | — | |
| Interest expense | 14 | 0 | — | — | — | |
| Income (Loss) Before Income Taxes | 119 | 43 | 27 | 17 | 3 | |
| Income tax benefit (expense) | −26 | −9 | 4 | −5 | 2 | |
| Net Income (Loss) | 94 | 34 | — | — | — | |
| Less: Net income (loss) attributable to noncontrolling interest | 29 | 0 | — | — | — | |
| Net Income (Loss) Attributable to Immersion Stockholders | 64 | 34 | 31 | 12 | 5 | |
| Basic (in dollars per share) | 1.94 | 1.05 | 0.92 | 0.4 | 0.19 | |
| Diluted (in dollars per share) | 1.9 | 1.04 | 0.92 | 0.39 | 0.19 | |
| Basic (in shares) | 32 | 32 | 33 | 31 | 28 | |
| Diluted (in shares) | 33 | 33 | 34 | 32 | 28 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-04-30 | FY 2025 2025-01-31 | FY 2024 2024-10-31 | FY 2024 2024-07-31 | FY 2024 2024-06-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 73 | — | — | — | — | |
| Investments current | 89 | — | — | — | — | |
| Total Current Assets | 632 | 919 | 834 | — | 676 | |
| Property and equipment, net | 96 | — | — | — | — | |
| Goodwill | — | — | — | — | — | |
| Investments noncurrent | 14 | — | — | — | — | |
| Total Assets | 1,102 | 1,438 | 1,364 | — | 1,234 | |
| Accounts payable | — | — | — | — | 459 | |
| Total Current Liabilities | 266 | 543 | 531 | — | — | |
| Long-term borrowings | 103 | — | — | — | — | |
| Total Liabilities | 544 | 850 | 877 | — | 820 | |
| Commitments and contingencies (Note 18) | — | — | — | — | — | |
| Common stock - $0.001 per share par value; 100,000,000 shares authorized; 49,433,320 and 32,502,969 shares issued and outstanding at April 30, 2025, respectively; 47,636,273 and 31,528,977 shares issued and outstanding at December 31, 2023, respectively. | 49,000 | 49,000 | 49,000 | — | 48,000 | |
| Additional paid-in capital | 374 | 371 | 370 | — | 368 | |
| Accumulated other comprehensive income (loss) | 535,000 | 2 | 5 | — | 1 | |
| Accumulated earnings (deficit) | 35 | 54 | 38 | — | 9 | |
| Treasury stock - 16,930,351 and 16,107,296 shares, respectively, at cost | −111 | −109 | −107 | — | −105 | |
| Total Stockholders' Equity Attributable to Immersion Corporation Stockholders | 298 | 318 | 306 | — | 273 | |
| Noncontrolling interest in consolidated subsidiaries | 261 | 270 | 182 | — | 141 | |
| Total Stockholders' Equity | 559 | 588 | 488 | 407 | 414 | |
| Total Liabilities and Stockholders' Equity | 1,102 | 1,438 | 1,364 | — | 1,234 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-04-30 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 | FY 2020 2020-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization expense | 35 | 67,000 | — | 762,000 | 2 | |
| Stock-based compensation | 6 | 3 | 3 | 2 | 5 | |
| Impairment loss | 1 | 0 | 0 | 2 | 0 | |
| Loss on disposal of property and equipment | 1 | 0 | — | — | — | |
| Deferred income taxes | 7 | 4 | −5 | 531,000 | −2 | |
| Net gains on investment in marketable securities | −1 | −12 | 8 | — | — | |
| Net gains on derivative instruments | −4 | −5 | −5 | 1 | 0 | |
| Shares issued to an employee in lieu of cash compensation | 2 | 595,000 | 157,000 | 0 | — | |
| Other noncash | 1 | 19,000 | 23,000 | 23,000 | 127,000 | |
| Accounts and other receivables | 18 | −1 | 735,000 | 248,000 | 1 | |
| Merchandise inventories | 37 | 0 | — | — | — | |
| Textbook rental inventories | −21 | 0 | — | — | — | |
| Prepaid expenses and other current assets | 5 | −500,000 | 4 | −823,000 | 1 | |
| Changes in lease right-of-use assets and liabilities | −18 | 0 | — | — | — | |
| Long-term deposits | 61,000 | −2 | 5 | 110,000 | — | |
| Other assets | −25 | 446,000 | 1 | 3 | 2 | |
| Accounts payable and accrued liabilities | −189 | 1 | — | — | — | |
| Other current liabilities | −8 | −1 | −3 | 2 | −1 | |
| Deferred revenue | −9 | −5 | −4 | −5 | −4 | |
| Other long-term liabilities | 4 | 3 | 2 | −1 | −1 | |
| Net cash flows provided by (used in) operating activities | −58 | 21 | 40 | 17 | 22,000 | |
| Purchases of marketable securities and other investments | −102 | −177 | −151 | 109 | — | |
| Proceeds from sale or maturities of marketable securities and other investments | 139 | 172 | 120 | — | — | |
| Proceeds from sale of derivative instruments | 17 | 22 | 16 | 19 | 0 | |
| Payments for settlement of derivative instruments | −9 | −13 | −14 | −14 | 0 | |
| Acquisition of business net of cash acquired | −31 | 0 | — | — | — | |
| Purchase of property and equipment | −11 | 0 | −30,000 | −335,000 | −47,000 | |
| Proceeds from disposal of property and equipment | 792,000 | 0 | 4,000 | 0 | — | |
| Net cash flows provided by (used in) investing activities | 3 | 3 | −29 | −88 | 3 | |
| Proceeds from borrowings | 836 | 0 | — | — | — | |
| Repayment of borrowing | −834 | 0 | — | — | — | |
| Proceeds from sale of Barnes & Noble Education common stock, net of commissions and issuance costs | 78 | 0 | — | — | — | |
| Dividend payments to stockholders | −13 | −7 | 0 | — | — | |
| Proceeds from stock options exercises | 0 | 160,000 | 0 | 3 | 577,000 | |
| Shares withheld to cover payroll taxes | −4 | −1 | −229,000 | 0 | — | |
| Payment for purchases of treasury stock | −2 | −8 | −13 | 0 | −31 | |
| Other financing activities | 0 | 6,000 | 56,000 | — | — | |
| Net cash flows provided by (used in) financing activities | 61 | −17 | −13 | 62 | −30 | |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 7 | 7 | −3 | −8 | −27 |
Filings
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Holdings (13F)
Portfolio as of 2025-12-31 · 8 positions
Reported AUM
$145.92M
Holdings
8
Top sector
$145.92M
Top sectors
| Sector | Value | % of portfolio |
|---|---|---|
| Uncategorized | $145.92M | 100.0% |
Top holdings
| Issuer | Ticker | Shares | Value | % |
|---|---|---|---|---|
| BARNES & NOBLE ED INC | — | 11.21M | $103.01M | 70.6% |
| FIVE POINT HOLDINGS LLC | — | 2.79M | $15.61M | 10.7% |
| XPERI INC | — | 1.86M | $10.92M | 7.5% |
| UNIVERSAL ELECTRS INC | — | 1.54M | $5.57M | 3.8% |
| MAGNACHIP SEMICONDUCTOR CORP | — | 1.88M | $4.79M | 3.3% |
| BLACKSTONE SECD LENDING FD | — | 79.2K | $2.08M | 1.4% |
| RIMINI STR INC DEL | — | 526.5K | $2.04M | 1.4% |
| CHILDRENS PL INC NEW | — | 474.0K | $1.89M | 1.3% |