Immersion Corporation — First Quarter Fiscal 2027 Earnings Summary

Financial Performance

• Total revenues were $294.4 million for the three months ended July 31, 2026, compared to $292.0 million for the same period in 2025.
• GAAP operating expenses were $80.4 million for the quarter ended July 31, 2026, down from $84.8 million in the prior year period.
• Non-GAAP operating expenses were $68.7 million for the quarter ended July 31, 2026, compared to $66.9 million in the prior year period.
• GAAP net income attributable to Immersion stockholders was $4.9 million ($0.17 per diluted share), a turnaround from a net loss of $0.9 million ($0.03 per diluted share) in the prior year.
• Non-GAAP net income attributable to Immersion stockholders was $16.6 million ($0.50 per diluted share), compared to $16.9 million ($0.52 per diluted share) in the prior year.
• Immersion's royalty and license revenue was $3.8 million, down from $3.9 million in the prior year.
• Barnes & Noble Education product and other revenue was $276.9 million, up from $274.2 million in the prior year.
• Barnes & Noble Education rental revenue was $13.7 million, down from $14.0 million in the prior year.
• Total cost of sales was $234.0 million, compared to $233.6 million in the prior year.
• Cash and cash equivalents increased to $167.0 million at July 31, 2026, from $129.9 million at April 30, 2026.
• Long-term borrowings increased to $123.5 million at July 31, 2026, from $71.0 million at April 30, 2026.
• Total assets were $1.177 billion at July 31, 2026, compared to $1.052 billion at April 30, 2026.
• Total liabilities were $617.3 million at July 31, 2026, compared to $484.9 million at April 30, 2026.
• Total stockholders' equity attributable to Immersion Corporation stockholders was $299.0 million at July 31, 2026, compared to $297.2 million at April 30, 2026.
• Noncontrolling interest in consolidated subsidiaries was $260.2 million at July 31, 2026, compared to $270.2 million at April 30, 2026.

Business Segments and Product Lines

• The company operates as a premier licensing company of technologies for haptics, providing touch feedback technology for mobile, automotive, gaming, and consumer electronics.
• The company acquired a controlling interest in Barnes & Noble Education on June 10, 2024, which is now consolidated into financial results.
• Barnes & Noble Education operates physical, virtual, and custom bookstores for college, university, and K-12 institutions, and functions as a textbook wholesaler and inventory management hardware/software provider.
• As of July 31, 2026, Immersion's ownership in Barnes & Noble Education reduced to 32.3% from 42% due to additional issuances of common stock to noncontrolling stockholders.
• Immersion owns approximately 11.2 million shares of Barnes & Noble Education's common stock.

Other Key Points

• The company announced a quarterly dividend of $0.075 per share, payable on October 30, 2026, to stockholders of record as of October 16, 2026.
• This dividend marks the sixteenth consecutive quarterly dividend.
• The financial results include consolidated financial information of Barnes & Noble Education for the fiscal three months ended July 31, 2026 and 2025.
• The company reported $15.1 million in interest and other income (expense), net, for the quarter ended July 31, 2026, compared to $7.7 million in the prior year.
• Interest expense was $1.8 million for the quarter ended July 31, 2026, compared to $2.8 million in the prior year.
• The company holds 50,476,158 shares issued and outstanding as of July 31, 2026, compared to 33,197,541 shares at April 30, 2026.
• Treasury stock increased to 17,278,617 shares at July 31, 2026, from 17,249,103 shares at April 30, 2026.