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.
Immersion Corporation (NASDAQ: IMMR) has signed a license agreement with Vishay Intertechnology, Inc. (NYSE: VSH) to bundle haptic patent licenses for Vishay's solenoid-based haptic actuators. This partnership aims to simplify the design-in process, allowing OEMs easy access to Immersion's haptic technology without separate licensing agreements. Both companies expect this collaboration to enhance customer experience and promote the adoption of near HD quality haptic technology across various applications.
Immersion Corporation (NASDAQ: IMMR) announced management changes, a special cash dividend of
Immersion Corporation (NASDAQ: IMMR) has renewed a multi-year licensing agreement with Dongwoon Anatech, focusing on haptic technology for mobile, wearable, and PC OEMs. This partnership aims to facilitate easier access to Immersion’s haptic patents, aligning with the growing demand for haptic solutions worldwide. Nobumitsu Shimada, a representative of Immersion, emphasized the importance of this relationship in meeting market demands. Immersion's innovations in haptics aim to enhance digital interactions across various sectors.
Immersion Corporation (NASDAQ: IMMR) reported strong third-quarter results for 2022, with total revenues of $14.0 million, up from $7.2 million in Q3 2021. Royalty and license revenues reached $13.9 million. GAAP net income was $7.7 million, or $0.23 per diluted share, compared to $3.8 million or $0.12 per diluted share a year earlier. The company repurchased 2.54 million shares year-to-date, accounting for 7.4% of outstanding shares. A quarterly dividend of $0.03 per share was announced, reflecting confidence in financial strength. Cash reserves stood at $133.5 million.
Immersion Corporation (NASDAQ: IMMR) has renewed and expanded its multi-year licensing agreement with Nippon Seiki Co., Ltd. This partnership allows Nippon Seiki to utilize Immersion's haptic technology for both its printer/copier products and automotive applications. The growing trend of integrating haptic technology in vehicles enhances user interaction with infotainment and climate control systems. Immersion's financial results for Q3 2022 will be reported on November 14, 2022.
Immersion Corporation (NASDAQ: IMMR) reported Q2 2022 revenues of $8.0 million, down from $11.0 million in Q2 2021. Royalty and license revenues declined from $10.9 million to $7.9 million. GAAP operating expenses decreased by 25% to $3.9 million, while non-GAAP operating expenses fell 23% to $2.9 million. The company reported a GAAP net loss of $1.8 million, compared to a net income of $5.3 million in the same quarter last year. Cash reserves stood at $136.9 million. Immersion is pursuing legal action against Meta for patent infringement and has renewed a license with Google/Fitbit.
Immersion Corporation (NASDAQ: IMMR) has signed a licensing agreement with ELAN Microelectronics to provide haptic technology licenses to PC laptop OEMs through ELAN’s Smart-Haptic Pad™ Technology. This partnership aims to enhance user experience by offering advanced haptic capabilities as part of Windows 11 integration. With ELAN's expertise in human-machine interfaces and Immersion’s innovations in haptics, the collaboration is expected to meet growing market demands for touch feedback technology. Financial results for the second quarter of 2022 will be reported on August 15, 2022.
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.