Welcome to our dedicated page for Immersion news (Ticker: IMMR), a resource for investors and traders seeking the latest updates and insights on Immersion stock.
Immersion Corporation (NASDAQ: IMMR) is a technology and intellectual property licensing company focused on haptic, or touch feedback, technology, and it also consolidates the operations of Barnes & Noble Education following the acquisition of a controlling interest. The IMMR news feed highlights how these two components of the business appear in company announcements, earnings releases, and regulatory updates.
News about Immersion frequently covers financial results, including quarterly and fiscal year earnings releases that discuss royalty and license revenue from haptics, consolidated results that include Barnes & Noble Education, and the company’s use of non-GAAP measures. These releases describe how Barnes & Noble Education’s campus bookstore and education services business is reflected in Immersion’s consolidated revenues and operating metrics.
Another recurring news theme involves regulatory and reporting developments. Immersion has issued press releases and filed reports regarding delayed SEC filings, Nasdaq delinquency compliance alert notices, and the planned restatement of certain previously issued interim financial statements. Related items detail internal investigations at Barnes & Noble Education concerning the recording of cost of sales and digital sales, and the anticipated impact on Immersion’s financial reporting and internal controls.
Investors following IMMR news will also see updates on capital allocation and governance, such as announcements of quarterly and special dividends, changes to the dividend level, and the adoption of a temporary shareholder rights plan intended to address potential control transactions. Board decisions about fiscal year changes and shareholder meeting timing are also reported through company releases and Form 8-K filings.
By monitoring this news stream, readers can track how Immersion’s haptics licensing business, its consolidated Barnes & Noble Education operations, dividend policies, and SEC and Nasdaq interactions evolve over time.
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Turtle Beach Corporation (Nasdaq: HEAR) disclosed its ongoing disputes with Immersion Corporation (Nasdaq: IMMR) regarding board nominations and governance. Despite multiple counterproposals aimed at avoiding a costly proxy contest, Immersion rejected Turtle Beach's offers, including the appointment of two of its nominees to the board and the formation of a Value Enhancement Committee.
The board's recent refresh resulted in a 4-year average tenure, with 9 experienced directors overseeing the company. Turtle Beach emphasized its commitment to shareholder interests, contrasting its collaborative approach with Immersion's antagonistic stance, which has been described as wasting shareholder capital. The company remains open to further engagement as it prioritizes operational oversight and shareholder value creation.
Immersion Corporation (NASDAQ: IMMR) has signed a multi-year licensing agreement with Motrex Co., Ltd., an automotive solutions provider. This partnership aims to integrate Immersion's haptic technology into Motrex's automotive products, enhancing in-vehicle interfaces across various applications. According to Immersion's executives, the automotive industry increasingly adopts haptic technology, benefiting functionalities like infotainment and climate control. Immersion is set to report its Q1 2023 financial results on May 10, 2023.
Immersion Corporation (NASDAQ: IMMR) has initiated patent infringement lawsuits against various Xiaomi Group companies in Germany, France, and India. The lawsuits, filed in Düsseldorf Regional Court, Paris First Instance Civil Court, and the High Court of Delhi, allege that Xiaomi's smartphones, including the Xiaomi 12, violate Immersion's patents related to haptic technology. Immersion seeks injunctions to prevent Xiaomi from selling these devices in the mentioned countries, along with damages for the infringement. CEO Eric Singer emphasized the importance of protecting their intellectual property after years of innovation in haptic technology.
Immersion Corporation (NASDAQ: IMMR) reported strong financial results for Q4 2022, with a GAAP net income of $19.7 million, equating to $0.60 per diluted share, compared to $1.3 million, or $0.04 per diluted share, in Q4 2021. Total revenues reached $9.2 million, slightly down from $9.7 million year-over-year. For the full year 2022, revenues grew to $38.5 million, up from $35.1 million in 2021. The company also declared a quarterly dividend of $0.03 per share and a one-time special dividend of $0.10. Immersion executed a licensing agreement with Vishay Intertechnology (NYSE: VSH) and renewed a multi-year license with Dongwoon Anatech.