$IMMR

IMMERSION CORP

CIK:0001058811|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
REVENUES
Total revenues	$ 294,399	$ 292,032
OPERATING EXPENSES
Total operating expenses	80,366	84,793
Operating Loss	(19,982)	(26,355)
Interest income and other income (expense), net	15,099	7,741
Interest expense, net	1,802	2,829
Loss Before Income Taxes	(6,685)	(21,443)
Income tax benefit	2,130	7,727
Net Loss	(4,555)	(13,716)
Less: Net loss attributable to noncontrolling interest	(9,431)	(12,786)
Net Income (Loss) Attributable to Immersion Stockholders	$ 4,876	$ (930)
Earnings (Loss) Per Common Share Attributable to Immersion Stockholders
Basic (in dollars per share)	$ 0.17	$ (0.03)
Diluted (in dollars per share)	$ 0.17	$ (0.03)
Weighted Average Common Shares Outstanding
Basic (in shares)	33,153	32,615
Diluted (in shares)	33,303	32,615
Immersion
OPERATING EXPENSES
Selling and administrative expenses	$ 3,498	$ 3,695
Immersion \| Royalty and license
REVENUES
Total revenues	3,804	3,872
Barnes & Noble Education, Inc.
REVENUES
Total revenues	290,595	288,160
COST OF SALES (excludes depreciation and amortization expense)
Total cost of sales	234,015	233,594
OPERATING EXPENSES
Selling and administrative expenses	67,316	67,805
Depreciation and amortization expense	10,204	10,397
Other (income) expense	(652)	2,896
Total operating expenses	76,868	81,098
Loss Before Income Taxes	22,100	26,900
Income tax benefit	8,200	8,600
Net Income (Loss) Attributable to Immersion Stockholders	4,876	(930)
Barnes & Noble Education, Inc. \| Product and other
REVENUES
Total revenues	276,859	274,179
COST OF SALES (excludes depreciation and amortization expense)
Total cost of sales	227,250	226,174
Barnes & Noble Education, Inc. \| Rental Income
REVENUES
Total revenues	13,736	13,981
COST OF SALES (excludes depreciation and amortization expense)
Total cost of sales	$ 6,765	$ 7,420

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Cash flows from operating activities:
Net loss	$ (4,555)	$ (13,716)
Adjustments to reconcile net loss to cash flows from operating activities:
Depreciation and amortization expense	10,230	10,423
Stock-based compensation	2,038	4,388
Loss on disposal of property and equipment	723	1,929
Deferred income taxes	(1,865)	(1,010)
Net gains on investment in marketable securities	(7,119)	(2,203)
Net gains on derivative instruments	(6,644)	(3,782)
Shares issued to an employee in lieu of cash compensation	44	126
Other noncash	0	(38)
Changes in operating assets and liabilities, net of acquisitions:
Accounts and other receivables	(60,403)	(63,696)
Merchandise inventories	(67,949)	(101,003)
Textbook rental inventories	21,191	17,549
Prepaid expenses and other current assets	(2,945)	(16,380)
Changes in lease right-of-use assets and liabilities	(5,654)	2,192
Other assets	7,136	7,343
Accounts payable and accrued liabilities	73,348	93,039
Other current liabilities	(17)	2,147
Deferred revenue	(1,103)	1,160
Other long-term liabilities	(52)	(121)
Net cash flows used in operating activities	(43,596)	(61,653)
Cash flows from investing activities:
Purchases of marketable securities and other investments	(36,120)	(28,012)
Proceeds from sale or maturities of marketable securities and other investments	48,730	41,447
Proceeds from sale of derivative instruments	22,873	416
Payments for settlement of derivative instruments	(5,790)	(909)
Purchase of property and equipment	(3,529)	(3,736)
Net cash flows provided by investing activities	26,164	9,206
Cash flows from financing activities:
Proceeds from borrowings	150,100	163,300
Repayment of borrowing	(97,600)	(96,400)
Payments of dividends to stockholders	(2,526)	0
Distributions to noncontrolling interests	(1,878)	0
Shares withheld to cover payroll taxes	(204)	(1,542)
Net cash provided by financing activities	47,892	65,358
Net increase in cash, cash equivalents and restricted cash	30,460	12,911
Cash, cash equivalents, and restricted cash:
Beginning of period	158,086	92,273
End of period	$ 188,546	$ 105,184

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2026	Apr. 30, 2026
ASSETS
Cash and cash equivalents	$ 174,806
Investments – current	34,698	$ 42,168
Total Current Assets	810,668	675,152
Goodwill	69,200	69,200
Long-term deposits		(0)
Total Assets	1,176,514	1,052,342
LIABILITIES AND STOCKHOLDERS’ EQUITY
Total Current Liabilities	379,152	293,351
Total Liabilities	617,278	484,937
Commitments and contingencies (Note 16)
Stockholders' Equity
Common stock - $0.001 par value; 100,000,000 shares authorized; 50,476,158 and 33,197,541 shares issued and outstanding, respectively, at July 31, 2026; 50,374,852 and 33,125,749 shares issued and outstanding, respectively, at April 30, 2026	50	50
Additional paid-in capital	379,325	379,644
Accumulated other comprehensive income	122	122
Accumulated earnings	33,515	31,165
Treasury stock: 17,278,617 and 17,249,103 shares as of July 31, 2026 and April 30, 2026, respectively, at cost	(114,020)	(113,816)
Total Stockholders' Equity Attributable to Immersion Corporation Stockholders	298,992	297,165
Noncontrolling interest in consolidated subsidiaries	260,244	270,240
Total Stockholders' Equity	559,236	567,405
Total Liabilities and Stockholders' Equity	1,176,514	1,052,342
Immersion
ASSETS
Cash and cash equivalents	167,000	129,868
Investments – current	34,698	42,168
Accounts receivable, net	4,694	2,112
Prepaid expenses and other current assets	10,407	16,540
Total Current Assets	216,799	190,688
Property and equipment, net	43	57
Long-term deposits	185	188
Other assets – noncurrent	12,988	19,917
Total non-current assets	13,216	20,162
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	63	16
Accrued compensation	1,189	41
Deferred revenue – current	2,925	2,926
Other current liabilities	23,169	12,379
Total Current Liabilities	27,346	15,362
Deferred income taxes - noncurrent	12,758	14,177
Deferred revenue – noncurrent	2,133	2,864
Other long-term liabilities	12,138	11,726
Total non-current liabilities	27,029	28,767
Barnes & Noble Education, Inc.
ASSETS
Cash and cash equivalents	7,806	8,418
Accounts receivable, net	176,686	116,526
Merchandise inventories, net	366,296	298,347
Textbook rental inventories, net	5,844	27,035
Prepaid expenses and other current assets	37,237	34,138
Total Current Assets	593,869	484,464
Property and equipment, net	61,724	68,160
Intangible assets, net	86,771	87,733
Goodwill	69,162	69,162
Operating Lease, Right-of-Use Asset	125,536	122,238
Other assets – noncurrent	9,437	9,735
Total non-current assets	352,630	357,028
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	210,999	135,564
Accrued liabilities	62,703	64,522
Deferred revenue – current	10,133	10,419
Operating lease liabilities – current	67,971	67,484
Total Current Liabilities	351,806	277,989
Deferred income taxes - noncurrent	981	2,225
Operating lease liabilities – noncurrent	81,353	84,197
Deferred revenue – noncurrent	2,689	2,774
Other long-term liabilities	2,574	2,623
Long-term borrowings	123,500	71,000
Total non-current liabilities	$ 211,097	$ 162,819