Immersion Corp Stock Price, News & Analysis

Immersion Corporation (NASDAQ: IMMR) has filed a complaint against Meta Platforms in the United States District Court for the Western District of Texas, alleging infringement of six patents related to haptic technologies used in AR/VR systems, including Meta Quest 2. Immersion seeks to stop the infringement and recover royalties. CEO Francis Jose emphasized the importance of protecting their intellectual property, given its relevance in the metaverse market. The patents involved cover various aspects of haptic stimulation and interactive content.

Immersion Corporation (NASDAQ: IMMR) reported fiscal results for Q1 2022, showing total revenues of $7.3 million, a modest increase from $7.2 million in Q1 2021. Royalty and license revenues rose to $7.2 million, with GAAP net income reaching $5.1 million per diluted share, up significantly from $2.0 million the previous year. Operating expenses decreased by 20% and 39% on GAAP and non-GAAP bases, respectively. Cash reserves grew by $11.5 million sequentially, reaching $146.5 million, bolstering the company’s financial standing.

Immersion Corporation (NASDAQ: IMMR) will report its financial results for the first quarter of 2022 on Thursday, May 12, 2022, after market close. Immersion is a leader in haptic technology, enhancing digital interactions through touch feedback solutions across mobile, automotive, gaming, and consumer electronics. The company's innovations aim to create immersive user experiences that engage the sense of touch.

Immersion Corporation (NASDAQ: IMMR) reported Q4 2021 revenues of $9.7 million, down from $10.9 million in Q4 2020. GAAP net income decreased to $1.3 million ($0.04 per share) from $8.1 million ($0.30 per share) in the previous year, driven by tax treatments for foreign subsidiaries. For FY 2021, revenues rose to $35.1 million, up from $30.5 million in 2020, with net income of $12.5 million ($0.39 per share), significantly improved from $5.4 million ($0.19 per share) in 2020. Immersion continues to focus on profitability and expanding its haptic technology in automotive and gaming sectors.

Immersion Corporation (NASDAQ: IMMR) has entered a partnership with Nissha to integrate its Active Sensing™ haptic technology into automotive products. This collaboration will allow Nissha to enhance user interface solutions in vehicles, utilizing Immersion's advanced haptic systems for features like programmable buttons and sliders with tactile feedback. Immersion's technology is already prevalent in the automotive industry, powering various interfaces. The partnership aims to innovate the user experience in automotive designs, aligning with the trend of increasing haptic integration in vehicles.

Immersion Corporation (NASDAQ: IMMR) has announced a licensing agreement with Duck-il, a South Korea-based automotive supplier, for the integration of its haptic technology in automotive interfaces. The partnership aims to enhance tactile user experiences in vehicles, a growing trend in modern automotive designs. Immersion is expected to report its financial results for Q4 2021 and the fiscal year 2021 on February 24, 2022.

Immersion Corporation (NASDAQ: IMMR) reported its third-quarter financial results for the period ending September 30, 2021. Total revenues were $7.2 million, a decrease from $7.6 million year-over-year. The company generated $7.1 million in royalty and license revenues, down from $7.5 million in the previous year. Operating expenses showed a significant decline, with GAAP expenses at $3.5 million, down 30%, and non-GAAP expenses at $2.8 million, down 22%. GAAP net income rose to $3.8 million ($0.12 per diluted share), compared to $2.9 million ($0.11 per diluted share) a year earlier.

Immersion Corporation (NASDAQ: IMMR) reported strong financial results for Q2 2021, achieving total revenues of $11.0 million, up from $5.7 million in Q2 2020. Royalty and license revenues rose to $10.9 million, with GAAP net income of $5.3 million or $0.17 per diluted share. Notable operating expense reductions were recorded, with GAAP expenses falling 23% to $5.2 million. The company highlighted successful partnerships in automotive, gaming, and mobile markets, including expanded agreements with Stanley Electric and AsusTek.

Immersion Corporation (NASDAQ: IMMR) has signed a license agreement with TITAN Haptics, allowing mobile phone and wearable OEMs that use TITAN's Linear Magnetic Ram (LMR) actuators access to Immersion's haptic patents. This partnership aims to enhance haptic feedback technology in mobile devices and expand Immersion's reach in China and global markets. LMR technology is praised for its compact design and ability to deliver diverse haptic experiences, including realistic button clicks, thus facilitating the development of virtual buttons without compromising tactile feel.