What is Immersion's operating income?

Immersion's total operating income in 2025 was $118.02 million, based on the following breakdown: Total Gross Profit: $1.56 billion Total Operating Expenses: $278.51 million

Immersion (IMMR) Financials

$6.78 0.00 (0.00%)

Closing price 07/2/2026 04:00 PM Eastern

Extended Trading

$6.90 +0.11 (+1.70%)

As of 07/2/2026 07:17 PM Eastern

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Annual Income Statements for Immersion

This table shows Immersion's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	4/30/2025
Net Income / (Loss) Attributable to Common Shareholders	4.12	2.86	73	23	275	-20	5.40	12	31	34	1,224
Consolidated Net Income / (Loss)	4.12	2.86	-39	-45	54	-20	5.40	12	31	34	158
Net Income / (Loss) Continuing Operations	4.12	2.86	-40	23	275	-20	5.40	12	31	34	1,253
Total Pre-Tax Income	6.32	4.45	-15	-45	55	-20	3.16	17	27	43	119
Total Operating Income	5.97	4.72	-15	-45	53	-21	2.22	18	24	18	118
Total Gross Profit	52	63	113	69	221	36	30	35	38	34	1,556
Total Revenue	53	63	113	69	222	36	30	35	38	34	1,556
Operating Revenue	53	63	113	69	222	36	30	35	38	34	1,556
Total Cost of Revenue	0.46	0.46	0.20	0.20	0.22	0.17	0.17	0.09	0.00	0.00	0.00
Total Operating Expenses	47	58	16	46	-53	57	28	17	14	16	279
Selling, General & Admin Expense	24	29	44	53	42	43	18	9.84	11	14	279
Total Other Income / (Expense), net	0.35	-0.27	0.75	0.61	1.63	1.88	0.94	-0.49	2.55	25	1.27
Interest Expense	-	-	-	-	-	-	-	-	-	-	-1.27
Income Tax Expense	2.20	1.59	26	0.48	0.39	0.47	-2.24	4.81	-3.70	8.94	26
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	-	-	-	-	29
Basic Earnings per Share	$0.15	$0.10	($1.37)	($1.55)	$1.78	($0.64)	$0.19	$0.40	$0.92	$1.05	$1.94
Weighted Average Basic Shares Outstanding	28.25M	28.10M	28.76M	29.18M	30.46M	31.53M	28.12M	31.46M	33.28M	32.21M	32.22M
Diluted Earnings per Share	$0.14	$0.10	($1.37)	($1.55)	$1.73	($0.64)	$0.19	$0.39	$0.92	$1.04	$1.90
Weighted Average Diluted Shares Outstanding	29.14M	29.02M	28.76M	29.18M	31.41M	31.53M	28.48M	31.77M	33.51M	32.54M	33.00M

This table shows Immersion's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	7/31/2024	10/31/2024	1/31/2025	7/31/2025	10/31/2025	1/31/2026
Net Income / (Loss) Attributable to Common Shareholders	2.68	12	19	29	129	-285	-241	188	-295	-266
Consolidated Net Income / (Loss)	2.68	16	19	21	39	64	43	-16	27	-10
Net Income / (Loss) Continuing Operations	2.68	12	19	-5.70	114	-251	-222	176	-280	-266
Total Pre-Tax Income	3.97	19	25	29	22	69	46	-48	42	-3.42
Total Operating Income	6.52	5.04	17	25	14	70	35	-26	40	4.99
Total Gross Profit	9.48	10	44	99	282	0.00	0.00	405	0.00	0.00
Total Revenue	9.48	10	44	99	502	0.00	0.00	872	0.00	0.00
Total Cost of Revenue	0.00	-	0.00	0.00	220	0.00	0.00	467	0.00	0.00
Total Operating Expenses	2.96	9.21	27	101	167	245	230	251	267	251
Selling, General & Admin Expense	2.57	-	26	15	50	245	235	72	267	248
Other Operating Expenses / (Income)	-	-	-	-	107	-	-6.18	166	-	1.10
Impairment Charge	-	-	-	-	-	-	1.25	-	-	1.02
Total Other Income / (Expense), net	-2.55	14	8.11	3.71	8.33	-1.01	11	4.91	1.57	-8.40
Interest Expense	2.55	-	-8.11	-3.71	-8.33	1.01	-11	-4.91	-1.57	8.40
Income Tax Expense	1.29	3.30	6.07	8.18	9.69	5.04	2.64	-16	15	6.72
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-8.01	-15	34	19	-13	15	0.13
Basic Earnings per Share	$0.08	$0.50	$0.60	$0.91	$0.85	$0.95	$0.74	($0.03)	$0.37	($0.31)
Weighted Average Basic Shares Outstanding	32.52M	32.21M	31.03M	31.88M	31.97M	32.22M	32.29M	32.62M	32.84M	32.94M
Diluted Earnings per Share	$0.08	$0.50	$0.59	$0.89	$0.83	$0.93	$0.73	($0.03)	$0.36	($0.31)
Weighted Average Diluted Shares Outstanding	32.75M	32.54M	31.41M	32.53M	32.70M	32.92M	33.06M	32.62M	33.24M	32.94M
Weighted Average Basic & Diluted Shares Outstanding	31.84M	31.70M	31.85M	32.18M	-	32.28M	32.40M	-	-	33.10M

This table details how cash moves in and out of Immersion's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	4/30/2025
Net Change in Cash & Equivalents	0.24	11	32	-32	86	-25	-27	-8.03	-2.67	7.25	6.75
Net Cash From Operating Activities	0.29	10	22	-44	70	-34	0.02	17	40	21	-58
Net Cash From Continuing Operating Activities	0.29	10	22	-44	70	-34	0.02	17	40	21	-58
Net Income / (Loss) Continuing Operations	4.12	2.86	-40	-45	54	-20	5.40	12	31	34	94
Consolidated Net Income / (Loss)	4.12	2.86	-39	-45	54	-20	5.40	12	31	34	94
Depreciation Expense	0.50	1.02	0.91	0.97	0.86	2.20	1.93	0.10	0.14	0.07	35
Non-Cash Adjustments To Reconcile Net Income	5.36	5.47	6.13	6.10	8.71	6.50	4.73	6.71	7.47	-13	-7.68
Changes in Operating Assets and Liabilities, net	-9.76	0.70	55	-5.61	6.01	-23	-12	-1.84	1.88	-0.65	-179
Net Cash From Investing Activities	13	-1.34	7.84	11	8.24	11	2.95	-88	-29	3.40	3.38
Net Cash From Continuing Investing Activities	13	-1.34	7.84	11	8.24	11	2.95	-88	-29	3.40	3.38
Purchase of Property, Plant & Equipment	-0.78	-4.43	-0.34	-0.13	-0.07	-0.15	-0.05	-0.34	-	-	-11
Acquisitions	-	-	-	-	-	-	-	-	-	-	-31
Purchase of Investments	-43	-45	-33	-24	-18	-8.93	0.00	-123	-165	-190	-111
Sale of Property, Plant & Equipment	-	-	-	-	-	-	-	0.00	-	-	0.79
Sale and/or Maturity of Investments	57	48	40	35	26	20	3.00	36	136	194	156
Other Investing Activities, net	0.00	0.00	1.00	-	-	-	-	-	-0.03	0.00	0.00
Net Cash From Financing Activities	-13	1.93	1.97	0.52	8.21	-1.33	-30	62	-13	-17	61
Net Cash From Continuing Financing Activities	-13	1.93	1.97	0.52	8.21	-1.33	-30	62	-13	-17	61
Repayment of Debt	-	-	-	-	-	-	-	-	0.06	0.01	-834
Repurchase of Common Equity	-15	0.00	-0.73	-0.33	0.00	-2.74	-31	0.00	-13	-8.26	-2.38
Payment of Dividends	-	-	-	-	-	-	-	0.00	0.00	-7.41	-13
Issuance of Debt	-	-	-	-	-	-	-	-	-	-	836
Other Financing Activities, net	1.30	1.56	2.39	0.52	7.99	1.25	0.58	2.86	-0.23	-1.08	74

This table details how cash moves in and out of Immersion's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026
Net Change in Cash & Equivalents	2.88	27	35	-41	-15	27	-13	7.04	13	46	-14
Net Cash From Operating Activities	4.03	7.82	30	-86	-114	50	-44	50	-62	71	-34
Net Cash From Continuing Operating Activities	4.03	7.82	30	-86	-114	50	-44	50	-62	71	-34
Net Income / (Loss) Continuing Operations	2.68	16	19	21	12	64	19	6.00	-14	27	-10
Consolidated Net Income / (Loss)	2.68	16	19	21	12	64	19	6.00	-14	27	-10
Depreciation Expense	-0.22	0.01	0.02	2.20	5.30	9.43	10	11	10	11	11
Non-Cash Adjustments To Reconcile Net Income	5.76	-11	-3.76	0.17	-1.98	11	-6.90	-0.52	18	-39	37
Changes in Operating Assets and Liabilities, net	-4.20	3.26	15	-109	-130	-34	-66	34	-76	72	-71
Net Cash From Investing Activities	3.34	23	6.88	-38	-18	14	8.72	-1.03	9.21	27	9.99
Net Cash From Continuing Investing Activities	3.34	23	6.88	-38	-18	14	8.72	-1.03	9.21	27	9.99
Purchase of Property, Plant & Equipment	-0.00	-	-	-	-2.81	-2.78	-2.55	-3.10	-3.74	-4.32	-3.73
Purchase of Investments	-63	-22	-46	-42	-31	-18	-36	-25	-29	8.44	-5.09
Sale and/or Maturity of Investments	67	45	53	34	45	35	48	29	42	23	19
Net Cash From Financing Activities	-4.48	-3.22	-1.75	84	118	-37	22	-42	65	-51	10
Net Cash From Continuing Financing Activities	-4.48	-3.22	-1.75	84	118	-37	22	-42	65	-51	10
Repayment of Debt	-0.17	0.01	0.00	-16	-46	-282	-250	-257	-96	-233	-241
Repurchase of Common Equity	-3.33	-2.08	-	-	0.00	-	-	-	0.00	-	-0.80
Payment of Dividends	-1.00	-0.99	-1.49	-1.50	-1.52	-1.52	-8.30	-1.51	0.00	-3.01	-2.52
Issuance of Debt	-	-	-	-	167	237	212	220	163	186	255
Other Financing Activities, net	0.01	-0.14	-0.26	-0.36	-1.13	8.49	68	-1.21	-1.54	-0.58	-0.42

This table presents Immersion's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	4/30/2024	4/30/2025
Total Assets	105	104	52	146	125	96	176	190	216	247	1,102
Total Current Assets	69	94	48	136	107	74	153	160	172	191	632
Cash & Equivalents	25	57	25	111	86	60	51	49	56	86	73
Short-Term Investments	40	33	22	14	3.02	0.00	86	101	104	93	89
Accounts Receivable	1.21	1.38	0.81	1.05	3.39	2.22	1.97	1.24	2.24	3.14	101
Inventories, net	-	-	-	-	-	-	-	-	0.00	0.00	326
Prepaid Expenses	2.79	2.88	0.74	9.86	14	13	13	9.35	9.85	9.10	44
Plant, Property, & Equipment, net	4.59	4.02	3.15	2.34	1.23	0.21	0.44	0.29	0.21	0.16	96
Total Noncurrent Assets	32	5.72	0.75	7.83	17	22	22	29	43	56	375
Long-Term Investments	-	-	-	-	-	-	7.29	17	33	47	14
Goodwill	-	-	-	-	-	-	-	-	0.00	0.00	69
Intangible Assets	0.26	0.37	0.34	-	-	-	-	-	0.00	0.00	92
Noncurrent Deferred & Refundable Income Taxes	25	0.36	0.40	-	-	-	2.12	7.22	3.34	2.79	0.00
Other Noncurrent Operating Assets	7.00	5.00	-	7.83	17	22	12	5.24	6.38	6.41	200
Total Liabilities & Shareholders' Equity	105	104	52	146	125	96	176	190	216	247	1,102
Total Liabilities	19	48	42	46	41	32	34	32	33	45	544
Total Current Liabilities	15	21	19	15	12	8.78	17	18	19	30	266
Accounts Payable	0.65	5.95	6.65	3.61	0.81	0.15	0.00	0.09	0.05	0.06	149
Accrued Expenses	-	-	-	-	-	-	-	-	0.00	0.00	44
Current Deferred Revenue	6.70	5.91	4.42	4.59	4.69	5.17	4.83	4.77	4.24	12	13
Current Employee Benefit Liabilities	4.84	4.75	4.13	3.95	2.84	1.00	0.56	2.03	3.13	4.00	0.34
Other Current Liabilities	3.00	4.41	3.90	3.19	3.48	2.46	11	11	12	14	59
Total Noncurrent Liabilities	3.62	27	23	31	29	23	18	14	13	15	278
Long-Term Debt	-	-	-	-	-	-	-	-	0.00	0.00	103
Noncurrent Deferred Revenue	2.52	26	22	30	26	21	17	13	8.39	7.98	8.95
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	-	0.00	-	15
Other Noncurrent Operating Liabilities	1.10	1.01	0.92	0.79	3.32	2.04	0.90	1.86	4.93	7.11	150
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	87	55	9.66	100	84	64	141	158	183	201	559
Total Preferred & Common Equity	87	55	9.66	100	84	64	141	158	183	201	298
Total Common Equity	87	55	9.66	100	84	64	141	158	183	201	298
Common Stock	212	221	228	246	253	259	323	323	322	323	374
Retained Earnings	-80	-119	-172	-99	-119	-113	-101	-70	-36	-18	35
Treasury Stock	-46	-47	-47	-48	-51	-82	-82	-95	-105	-105	-111
Accumulated Other Comprehensive Income / (Loss)	0.09	0.12	0.10	0.12	0.12	0.12	0.41	0.20	1.70	2.02	0.54
Noncontrolling Interest	-	-	-	-	-	-	-	-	0.00	0.00	261

This table presents Immersion's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	10/31/2024	1/31/2025	7/31/2025	10/31/2025	1/31/2026
Total Assets	205	245	1,188	1,320	1,371	1,262	1,377	1,433
Total Current Assets	161	194	679	853	926	797	934	1,013
Cash & Equivalents	29	91	36	81	78	90	127	130
Short-Term Investments	122	88	98	79	76	77	60	48
Accounts Receivable	2.56	6.03	141	280	357	165	319	419
Inventories, net	-	-	363	365	368	409	378	373
Prepaid Expenses	7.59	8.70	41	48	47	55	51	44
Plant, Property, & Equipment, net	0.23	0.17	118	108	101	88	83	77
Total Noncurrent Assets	44	51	391	360	344	377	360	343
Long-Term Investments	30	41	45	37	44	14	3.26	0.00
Goodwill	-	-	14	14	10	69	69	69
Intangible Assets	-	-	95	94	93	91	90	89
Noncurrent Deferred & Refundable Income Taxes	7.22	3.34	3.34	3.34	0.87	-	-	1.42
Other Noncurrent Operating Assets	6.53	6.40	234	211	196	203	198	183
Total Liabilities & Shareholders' Equity	205	245	1,188	1,320	1,371	1,262	1,377	1,433
Total Liabilities	35	43	762	838	804	716	803	871
Total Current Liabilities	26	30	438	517	539	358	496	554
Accounts Payable	0.04	0.02	217	299	304	237	345	319
Accrued Expenses	-	-	70	61	77	50	63	127
Current Deferred Revenue	4.73	12	20	41	53	15	35	56
Current Employee Benefit Liabilities	0.62	3.19	2.85	2.86	0.19	0.49	0.74	0.46
Other Current Liabilities	20	15	128	114	105	56	52	52
Total Noncurrent Liabilities	9.43	13	324	320	266	358	308	317
Long-Term Debt	-	-	187	178	141	170	123	138
Noncurrent Deferred Revenue	9.09	8.21	12	10	9.78	8.12	7.28	6.44
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	0.64	2.05	-	15	16	13
Other Noncurrent Operating Liabilities	0.35	4.93	125	130	115	164	162	159
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	169	201	426	482	566	546	574	562
Total Preferred & Common Equity	169	201	230	311	319	296	307	295
Total Common Equity	169	201	230	311	319	296	307	295
Common Stock	323	322	323	382	385	376	377	379
Retained Earnings	-52	-17	12	35	42	32	43	30
Treasury Stock	-102	-105	-105	-107	-109	-113	-113	-114
Accumulated Other Comprehensive Income / (Loss)	1.20	1.53	1.34	1.53	1.91	0.35	0.31	0.12
Noncontrolling Interest	-	-	196	172	247	250	267	267

This table displays calculated financial ratios and metrics derived from Immersion's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	4/30/2025
DEI Shares Outstanding	27,678,578.00	28,284,981.00	28,834,412.00	29,251,243.00	68,332,873.00	31,795,744.00	26,937,105.00	33,025,762.00	32,308,895.00	31,839,986.00	32,396,432.00
DEI Adjusted Shares Outstanding	27,678,578.00	28,284,981.00	28,834,412.00	29,251,243.00	68,332,873.00	31,795,744.00	26,937,105.00	33,025,762.00	32,308,895.00	31,839,986.00	32,396,432.00
DEI Earnings Per Adjusted Shares Outstanding	0.15	0.10	2.52	0.78	4.03	-0.63	0.20	0.38	0.95	1.07	37.77
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.52%	19.75%	78.44%	-38.91%	220.59%	-83.77%	-15.29%	15.21%	9.61%	-11.81%	0.00%
EBITDA Growth	51.73%	-16.14%	-372.62%	-206.47%	221.68%	-135.65%	125.15%	253.08%	44.34%	-26.73%	0.00%
EBIT Growth	64.30%	-25.56%	-458.75%	-194.58%	217.18%	-140.38%	113.52%	485.73%	44.36%	-26.59%	0.00%
NOPAT Growth	-90.12%	-22.14%	-452.44%	-197.60%	265.81%	-128.48%	125.28%	238.14%	116.37%	-48.89%	0.00%
Net Income Growth	-89.73%	-30.68%	-1,477.92%	-15.01%	219.99%	-136.88%	126.95%	131.14%	145.63%	10.80%	0.00%
EPS Growth	-89.78%	-28.57%	-1,470.00%	-13.14%	211.61%	-136.99%	129.69%	105.26%	135.90%	13.04%	0.00%
Operating Cash Flow Growth	-98.62%	3,351.89%	119.43%	-298.84%	259.54%	-148.77%	100.06%	79,213.64%	130.08%	-48.69%	0.00%
Free Cash Flow Firm Growth	-137.15%	110.18%	7,607.56%	-164.59%	240.04%	-184.03%	81.46%	431.15%	55.32%	-52.26%	0.00%
Invested Capital Growth	101.30%	12.69%	-258.79%	-7.11%	31.51%	77.27%	177.68%	-187.73%	-132.06%	-16.88%	0.00%
Revenue Q/Q Growth	3.02%	4.88%	75.75%	-26.05%	-5.69%	-31.01%	-1.71%	-3.27%	-1.49%	3.72%	0.00%
EBITDA Q/Q Growth	5.38%	2.40%	-992.12%	-0.55%	16.21%	20.96%	887.42%	-2.99%	0.00%	-4.15%	0.00%
EBIT Q/Q Growth	5.87%	1.09%	-583.89%	-0.59%	16.65%	16.95%	189.55%	-1.74%	-0.09%	-3.99%	0.00%
NOPAT Q/Q Growth	-90.22%	15.12%	-451.81%	-2.27%	19.97%	15.80%	313.14%	-30.30%	60.58%	-22.63%	0.00%
Net Income Q/Q Growth	-89.82%	4.42%	-41,353.68%	36.34%	20.25%	17.05%	416.59%	-35.09%	149.34%	-9.85%	0.00%
EPS Q/Q Growth	-89.86%	0.00%	-6,750.00%	36.73%	17.69%	21.95%	416.67%	-38.10%	155.56%	-7.96%	0.00%
Operating Cash Flow Q/Q Growth	-96.94%	5.37%	-12.68%	7.92%	-5.29%	6.53%	100.35%	27.07%	3.04%	-0.44%	0.00%
Free Cash Flow Firm Q/Q Growth	-129.44%	310.03%	145.28%	-386.13%	-10.16%	5.96%	41.87%	392.39%	-14.15%	-23.49%	0.00%
Invested Capital Q/Q Growth	34.33%	25.79%	-968.98%	-30.44%	16.01%	48.67%	329.02%	-132.17%	-1.86%	4.59%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	99.13%	99.27%	99.83%	99.71%	99.90%	99.53%	99.45%	99.75%	100.00%	100.00%	100.00%
EBITDA Margin	11.91%	8.34%	-12.74%	-63.93%	24.27%	-53.30%	15.82%	48.49%	63.86%	53.05%	9.86%
Operating Margin	11.27%	7.44%	-13.49%	-65.73%	23.97%	-59.66%	7.29%	50.66%	63.49%	52.85%	7.59%
EBIT Margin	10.84%	6.74%	-13.55%	-65.34%	23.88%	-59.41%	9.48%	48.21%	63.49%	52.85%	7.59%
Profit (Net Income) Margin	7.79%	4.51%	-34.81%	-65.54%	24.53%	-55.75%	17.73%	35.58%	79.73%	100.17%	10.15%
Tax Burden Percent	65.25%	64.24%	271.42%	101.07%	99.28%	102.41%	170.97%	72.20%	113.72%	79.17%	132.34%
Interest Burden Percent	110.11%	104.14%	94.67%	99.25%	103.46%	91.63%	109.38%	102.21%	110.42%	239.39%	101.08%
Effective Tax Rate	34.75%	35.76%	0.00%	0.00%	0.72%	0.00%	-70.97%	27.80%	-13.72%	20.83%	21.55%
Return on Invested Capital (ROIC)	27.04%	14.81%	0.00%	0.00%	0.00%	0.00%	0.00%	4,692.57%	0.00%	0.00%	19.03%
ROIC Less NNEP Spread (ROIC-NNEP)	26.68%	15.10%	0.00%	0.00%	0.00%	0.00%	0.00%	4,692.92%	0.00%	0.00%	-71.46%
Return on Net Nonoperating Assets (RNNOA)	-21.79%	-11.31%	0.00%	0.00%	0.00%	0.00%	0.00%	-4,680.41%	0.00%	0.00%	9.23%
Return on Equity (ROE)	5.24%	3.50%	-55.48%	-139.36%	99.42%	-21.86%	7.31%	12.16%	20.51%	19.94%	28.26%
Cash Return on Invested Capital (CROIC)	-40.20%	2.88%	0.00%	0.00%	0.00%	0.00%	-143.61%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	5.52%	4.21%	-14.65%	-57.98%	53.45%	-15.77%	2.61%	12.45%	13.36%	8.83%	17.50%
Return on Assets (ROA)	3.96%	2.82%	-37.65%	-58.16%	54.90%	-14.80%	4.89%	9.19%	16.77%	16.74%	23.41%
Return on Common Equity (ROCE)	5.24%	3.50%	-55.48%	-139.36%	99.42%	-21.86%	7.31%	12.16%	20.51%	19.94%	18.57%
Return on Equity Simple (ROE_SIMPLE)	5.38%	3.30%	-71.16%	-469.00%	54.53%	-23.93%	8.44%	8.84%	19.44%	18.56%	0.00%
Net Operating Profit after Tax (NOPAT)	3.89	3.03	-11	-32	53	-15	3.80	13	28	14	93
NOPAT Margin	7.35%	4.78%	-9.45%	-46.01%	23.80%	-41.76%	12.46%	36.58%	72.20%	41.84%	5.95%
Net Nonoperating Expense Percent (NNEP)	0.36%	-0.28%	-37.10%	-19.80%	1.89%	-4.69%	2.15%	-0.34%	1.86%	10.98%	90.49%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	13.99%
Cost of Revenue to Revenue	0.87%	0.73%	0.17%	0.29%	0.10%	0.47%	0.55%	0.25%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	44.87%	45.36%	39.03%	77.19%	18.88%	119.51%	59.28%	28.03%	29.75%	41.16%	17.90%
R&D to Revenue	22.28%	23.32%	11.84%	17.02%	4.39%	21.81%	16.46%	11.83%	3.59%	0.83%	0.00%
Operating Expenses to Revenue	87.86%	91.83%	14.25%	66.78%	-23.88%	159.19%	92.16%	49.09%	36.51%	47.15%	17.90%
Earnings before Interest and Taxes (EBIT)	5.74	4.27	-15	-45	53	-21	2.89	17	24	18	118
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6.31	5.29	-14	-44	54	-19	4.82	17	25	18	153
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.27	3.63	5.29	20.41	2.64	2.69	4.54	1.27	1.37	1.21	0.76
Price to Tangible Book Value (P/TBV)	3.28	3.64	5.32	21.16	2.64	2.69	4.54	1.27	1.37	1.21	1.65
Price to Revenue (P/Rev)	4.73	4.96	2.59	2.85	1.19	6.27	9.53	5.13	5.64	6.51	0.15
Price to Earnings (P/E)	60.67	110.12	4.02	8.61	0.96	0.00	53.73	14.41	7.07	6.50	0.18
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.73%	2.58%
Earnings Yield	1.65%	0.91%	24.85%	11.61%	104.59%	0.00%	1.86%	6.94%	14.15%	15.38%	541.50%
Enterprise Value to Invested Capital (EV/IC)	10.02	11.52	0.00	0.00	0.00	0.00	51.74	0.00	0.00	0.00	0.85
Enterprise Value to Revenue (EV/Rev)	3.64	3.94	1.79	2.18	0.63	3.78	7.57	0.99	1.30	0.80	0.27
Enterprise Value to EBITDA (EV/EBITDA)	30.57	47.24	0.00	0.00	2.58	0.00	47.87	2.04	2.03	1.51	2.70
Enterprise Value to EBIT (EV/EBIT)	33.59	58.47	0.00	0.00	2.62	0.00	79.88	2.05	2.05	1.52	3.51
Enterprise Value to NOPAT (EV/NOPAT)	49.51	82.40	0.00	0.00	2.63	0.00	60.78	2.71	1.80	1.92	4.48
Enterprise Value to Operating Cash Flow (EV/OCF)	662.42	24.87	9.20	0.00	1.98	0.00	10,485.74	1.99	1.24	1.32	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	423.76	4.46	0.00	3.37	0.00	0.00	1.64	1.52	1.73	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.18
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.18
Financial Leverage	-0.82	-0.75	-1.09	-2.10	-1.57	-1.17	-1.01	-1.00	-1.04	-1.06	-0.13
Leverage Ratio	1.32	1.24	1.47	2.40	1.81	1.48	1.50	1.32	1.22	1.19	1.77
Compound Leverage Factor	1.46	1.29	1.40	2.38	1.87	1.35	1.64	1.35	1.35	2.85	1.79
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	15.58%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	15.58%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	39.37%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	45.05%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.67
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.47
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.67
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.11
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.78
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.11
Altman Z-Score	7.44	10.33	3.46	-2.70	6.17	2.60	5.00	3.80	5.02	5.11	2.46
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	34.29%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.61	4.54	4.47	2.52	8.85	9.05	8.47	9.22	8.94	8.93	2.38
Quick Ratio	4.80	4.36	4.34	2.48	8.21	7.86	7.03	8.41	8.42	8.42	0.99
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-5.79	0.59	45	-29	41	-35	-6.40	21	33	16	0.00
Operating Cash Flow to CapEx	37.36%	226.75%	6,426.24%	-35,063.20%	94,491.89%	-22,732.67%	46.81%	5,208.66%	0.00%	0.00%	-551.23%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.51	0.62	1.08	0.89	2.24	0.27	0.28	0.26	0.21	0.17	2.31
Accounts Receivable Turnover	29.26	29.94	87.18	63.16	238.60	16.21	10.87	16.76	24.00	19.52	29.93
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	49.22	21.87	26.29	19.29	80.66	20.15	42.45	107.47	104.37	134.60	32.42
Accounts Payable Turnover	0.68	0.70	0.06	0.03	0.04	0.08	0.35	1.17	0.00	0.00	0.00
Days Sales Outstanding (DSO)	12.48	12.19	4.19	5.78	1.53	22.52	33.57	21.78	15.21	18.70	12.20
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	535.99	523.30	6,115.14	11,670.74	8,588.38	4,746.07	1,040.68	313.15	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-523.52	-511.11	-6,110.95	-11,664.96	-8,586.85	-4,723.56	-1,007.11	-291.37	15.21	18.70	12.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	19	22	-34	-37	-25	-5.74	4.46	-3.91	-9.08	-11	487
Invested Capital Turnover	3.68	3.10	-17.75	-1.94	-7.13	-2.32	-47.55	128.30	-5.92	-3.45	3.20
Increase / (Decrease) in Invested Capital	9.68	2.44	-56	-2.45	12	20	10	-8.37	-5.17	-1.53	0.00
Enterprise Value (EV)	193	250	203	151	138	136	231	35	50	27	414
Market Capitalization	250	315	292	197	263	225	290	180	217	221	226
Book Value per Share	$2.77	$3.06	$1.92	$0.33	$3.24	$2.63	$2.38	$4.28	$4.88	$5.75	$9.20
Tangible Book Value per Share	$2.76	$3.05	$1.91	$0.32	$3.24	$2.63	$2.38	$4.28	$4.88	$5.75	$4.24
Total Capital	77	87	55	9.66	100	84	64	141	158	183	662
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	103
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	103
Net Debt	-57	-65	-90	-47	-125	-89	-60	-145	-167	-194	-72
Capital Expenditures (CapEx)	0.78	4.43	0.34	0.13	0.07	0.15	0.05	0.34	0.00	0.00	10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.66	-11	-17	-18	-4.44	5.64	6.05	-1.23	-7.34	-7.23	205
Debt-free Net Working Capital (DFNWC)	58	54	73	29	120	95	66	137	142	153	366
Net Working Capital (NWC)	58	54	73	29	120	95	66	137	142	153	366
Net Nonoperating Expense (NNE)	-0.23	0.17	29	13	-1.62	5.03	-1.61	0.35	-2.89	-20	-65
Net Nonoperating Obligations (NNO)	-57	-65	-90	-47	-125	-89	-60	-145	-167	-194	-72
Total Depreciation and Amortization (D&A)	0.57	1.02	0.91	0.97	0.86	2.20	1.93	0.10	0.14	0.07	35
Debt-free, Cash-free Net Working Capital to Revenue	1.25%	-17.64%	-14.82%	-25.41%	-2.00%	15.69%	19.86%	-3.50%	-19.09%	-21.30%	13.15%
Debt-free Net Working Capital to Revenue	109.61%	84.79%	64.54%	41.94%	54.38%	264.61%	215.29%	389.56%	370.23%	451.48%	23.52%
Net Working Capital to Revenue	109.61%	84.79%	64.54%	41.94%	54.38%	264.61%	215.29%	389.56%	370.23%	451.48%	23.52%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.15	$0.10	($1.37)	($1.55)	$1.78	($0.64)	$0.19	$0.40	$0.92	$1.05	$1.94
Adjusted Weighted Average Basic Shares Outstanding	28.25M	28.10M	28.76M	29.18M	30.46M	31.53M	28.12M	31.46M	33.28M	32.21M	32.22M
Adjusted Diluted Earnings per Share	$0.14	$0.10	($1.37)	($1.55)	$1.73	($0.64)	$0.19	$0.39	$0.92	$1.04	$1.90
Adjusted Weighted Average Diluted Shares Outstanding	29.14M	29.02M	28.76M	29.18M	31.41M	31.53M	28.48M	31.77M	33.51M	32.54M	33.00M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	27.75M	28.36M	28.98M	29.46M	30.85M	31.14M	60.18M	67.05M	32.31M	31.70M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	3.89	3.03	-11	-31	53	-15	1.55	13	17	14	93
Normalized NOPAT Margin	7.35%	4.78%	-9.45%	-44.37%	23.80%	-41.76%	5.10%	36.58%	44.45%	41.84%	5.95%
Pre Tax Income Margin	11.94%	7.02%	-12.83%	-64.85%	24.71%	-54.44%	10.37%	49.27%	70.11%	126.52%	7.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	21.81%	8.14%
Augmented Payout Ratio	363.81%	0.00%	-1.85%	-0.72%	0.00%	-13.67%	567.34%	0.00%	43.17%	46.13%	9.65%

This table displays calculated financial ratios and metrics derived from Immersion's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	7/31/2024	10/31/2024	1/31/2025	7/31/2025	10/31/2025	1/31/2026
DEI Shares Outstanding	32,241,498.00	31,839,986.00	31,700,667.00	31,854,837.00	31,854,837.00	-	-	32,396,432.00	32,396,432.00	32,396,432.00
DEI Adjusted Shares Outstanding	32,241,498.00	31,839,986.00	31,700,667.00	31,854,837.00	31,854,837.00	-	-	32,396,432.00	32,396,432.00	32,396,432.00
DEI Earnings Per Adjusted Shares Outstanding	0.08	0.38	0.59	0.91	4.05	-	-	5.81	-9.12	-8.20
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-32.30%	13.27%	519.83%	1,323.80%	1,044.99%	-100.00%	0.00%	73.74%	0.00%	0.00%
EBITDA Growth	-42.48%	-13.37%	407.07%	720.42%	13.38%	133.30%	0.00%	-184.48%	-36.67%	-65.31%
EBIT Growth	-40.36%	-12.89%	409.79%	716.13%	-18.39%	153.51%	0.00%	-294.39%	-43.12%	-85.85%
NOPAT Growth	-55.10%	-45.99%	354.75%	724.37%	-39.72%	210.05%	0.00%	-344.11%	-60.40%	-89.49%
Net Income Growth	-65.22%	-18.84%	125.36%	197.89%	110.54%	166.33%	0.00%	-139.66%	-58.25%	-123.44%
EPS Growth	-65.22%	-15.25%	136.00%	323.81%	40.68%	-6.74%	0.00%	-103.61%	-61.29%	-142.47%
Operating Cash Flow Growth	-70.39%	-1.15%	748.62%	-1,742.59%	-482.56%	0.00%	0.00%	46.09%	40.15%	22.74%
Free Cash Flow Firm Growth	-78.58%	-55.75%	796.14%	-9,728.25%	-148.33%	106.45%	0.00%	-4,905.63%	-147.93%	0.00%
Invested Capital Growth	-24.78%	-16.88%	-124.77%	5,699.28%	0.00%	6.76%	0.00%	0.00%	9.30%	2.56%
Revenue Q/Q Growth	35.79%	9.47%	322.42%	126.75%	0.00%	0.00%	0.00%	0.00%	-100.00%	0.00%
EBITDA Q/Q Growth	87.28%	-19.91%	229.54%	65.99%	0.00%	0.00%	-43.78%	0.00%	417.42%	-68.98%
EBIT Q/Q Growth	109.41%	-22.75%	229.90%	52.92%	0.00%	0.00%	-59.31%	0.00%	251.99%	-87.56%
NOPAT Q/Q Growth	98.82%	-5.28%	200.39%	45.72%	0.00%	0.00%	-75.61%	0.00%	240.20%	-86.51%
Net Income Q/Q Growth	-61.87%	496.64%	16.67%	12.23%	0.00%	0.00%	-65.16%	0.00%	272.59%	-137.69%
EPS Q/Q Growth	-61.90%	525.00%	18.00%	50.85%	0.00%	0.00%	-43.37%	0.00%	1,300.00%	-186.11%
Operating Cash Flow Q/Q Growth	-23.05%	94.31%	282.27%	-387.40%	0.00%	0.00%	0.00%	-223.06%	214.57%	-147.80%
Free Cash Flow Firm Q/Q Growth	253.51%	-13.73%	300.78%	-1,951.87%	0.00%	0.00%	-100.00%	0.00%	96.88%	44.53%
Invested Capital Q/Q Growth	-43.47%	4.59%	-75.39%	2,432.20%	0.00%	0.00%	9.95%	0.00%	-5.29%	3.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	56.21%	0.00%	0.00%	46.44%	0.00%	0.00%
EBITDA Margin	66.46%	48.62%	37.93%	27.77%	3.76%	0.00%	0.00%	-1.83%	0.00%	0.00%
Operating Margin	68.75%	48.52%	37.89%	25.55%	2.70%	0.00%	0.00%	-3.02%	0.00%	0.00%
EBIT Margin	68.75%	48.52%	37.89%	25.55%	2.70%	0.00%	0.00%	-3.02%	0.00%	0.00%
Profit (Net Income) Margin	28.26%	154.05%	42.55%	21.06%	7.82%	0.00%	0.00%	-1.79%	0.00%	0.00%
Tax Burden Percent	67.59%	82.88%	75.47%	71.91%	179.45%	87.95%	52.73%	32.22%	64.57%	296.46%
Interest Burden Percent	60.82%	383.10%	148.79%	114.60%	161.43%	98.44%	140.59%	183.43%	103.93%	-68.57%
Effective Tax Rate	32.41%	17.12%	24.53%	28.09%	44.26%	12.05%	47.27%	0.00%	35.43%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	14.07%	0.00%	0.00%	0.00%	-15.24%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	10.92%	0.00%	0.00%	0.00%	-65.95%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	-3.11%	0.00%	0.00%	0.00%	1.37%	0.00%	0.00%
Return on Equity (ROE)	24.11%	19.94%	24.16%	10.95%	0.00%	0.00%	0.00%	-13.87%	0.00%	0.00%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	-92.46%	0.00%	0.00%	0.00%	-170.61%	-3.40%	0.00%
Operating Return on Assets (OROA)	11.96%	8.11%	12.13%	6.00%	0.00%	0.00%	0.00%	-4.61%	0.00%	0.00%
Return on Assets (ROA)	4.92%	25.75%	13.61%	4.94%	0.00%	0.00%	0.00%	-2.73%	0.00%	0.00%
Return on Common Equity (ROCE)	24.11%	19.94%	24.16%	7.36%	0.00%	0.00%	0.00%	-7.51%	0.00%	0.00%
Return on Equity Simple (ROE_SIMPLE)	22.24%	0.00%	22.02%	25.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	4.41	4.17	13	18	7.56	57	14	-18	26	3.49
NOPAT Margin	46.47%	40.21%	28.59%	18.38%	1.51%	0.00%	0.00%	-2.12%	0.00%	0.00%
Net Nonoperating Expense Percent (NNEP)	-1.04%	6.56%	3.10%	3.14%	0.00%	-16.01%	9.87%	50.71%	2.35%	-28.29%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	8.58%	1.95%	-2.58%	3.71%	0.50%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	43.79%	0.00%	0.00%	53.56%	0.00%	0.00%
SG&A Expenses to Revenue	27.06%	0.00%	58.96%	14.60%	9.91%	0.00%	0.00%	8.20%	0.00%	0.00%
R&D to Revenue	0.32%	0.00%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	31.25%	88.77%	62.11%	101.23%	33.19%	0.00%	0.00%	28.74%	0.00%	0.00%
Earnings before Interest and Taxes (EBIT)	6.52	5.04	17	25	14	64	26	-26	40	4.99
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6.30	5.05	17	28	19	64	36	-16	51	16
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.23	1.21	1.16	1.30	0.00	0.87	0.85	0.74	0.69	0.73
Price to Tangible Book Value (P/TBV)	1.23	1.21	1.16	2.46	0.00	1.34	1.25	1.61	1.43	1.57
Price to Revenue (P/Rev)	6.38	6.51	3.32	1.83	0.00	0.00	0.00	0.11	0.11	0.11
Price to Earnings (P/E)	5.04	6.50	5.29	4.78	0.00	0.00	0.00	0.17	0.17	0.17
Dividend Yield	1.39%	1.73%	1.82%	1.60%	1.39%	2.49%	4.54%	2.66%	2.75%	3.16%
Earnings Yield	19.84%	15.38%	18.91%	20.91%	0.00%	0.00%	0.00%	585.30%	600.94%	579.81%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	1.16	0.00	0.91	0.90	0.86	0.81	0.85
Enterprise Value to Revenue (EV/Rev)	0.86	0.80	0.21	3.08	0.00	0.00	0.00	0.24	0.21	0.23
Enterprise Value to EBITDA (EV/EBITDA)	1.49	1.51	0.46	9.03	0.00	0.00	0.00	3.86	4.60	7.40
Enterprise Value to EBIT (EV/EBIT)	1.50	1.52	0.46	9.37	0.00	0.00	0.00	5.86	8.62	25.30
Enterprise Value to NOPAT (EV/NOPAT)	1.52	1.92	0.61	12.40	0.00	0.00	0.00	5.83	15.45	36.14
Enterprise Value to Operating Cash Flow (EV/OCF)	1.35	1.32	0.31	0.00	0.00	0.00	0.00	0.00	26.74	17.47
Enterprise Value to Free Cash Flow (EV/FCFF)	1.36	1.73	0.42	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.44	0.00	0.37	0.25	0.31	0.21	0.25
Long-Term Debt to Equity	0.00	0.00	0.00	0.44	0.00	0.37	0.25	0.31	0.21	0.25
Financial Leverage	-1.06	-1.06	-1.07	-0.28	0.00	-0.01	-0.10	-0.02	-0.08	-0.09
Leverage Ratio	1.20	1.19	1.20	2.33	0.00	2.76	2.42	2.31	2.55	2.48
Compound Leverage Factor	0.73	4.56	1.79	2.67	0.00	2.72	3.40	4.24	2.65	-1.70
Debt to Total Capital	0.00%	0.00%	0.00%	30.47%	0.00%	26.90%	19.96%	23.74%	17.59%	19.76%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	30.47%	0.00%	26.90%	19.96%	23.74%	17.59%	19.76%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	31.94%	0.00%	26.00%	34.93%	34.95%	38.33%	38.07%
Common Equity to Total Capital	100.00%	100.00%	100.00%	37.59%	0.00%	47.10%	45.11%	41.31%	44.08%	42.17%
Debt to EBITDA	0.00	0.00	0.00	3.36	0.00	0.00	0.00	1.43	1.37	2.31
Net Debt to EBITDA	0.00	0.00	0.00	0.15	0.00	0.00	0.00	-0.10	-0.76	-0.66
Long-Term Debt to EBITDA	0.00	0.00	0.00	3.36	0.00	0.00	0.00	1.43	1.37	2.31
Debt to NOPAT	0.00	0.00	0.00	4.61	0.00	0.00	0.00	2.16	4.60	11.31
Net Debt to NOPAT	0.00	0.00	0.00	0.20	0.00	0.00	0.00	-0.14	-2.53	-3.23
Long-Term Debt to NOPAT	0.00	0.00	0.00	4.61	0.00	0.00	0.00	2.16	4.60	11.31
Altman Z-Score	4.25	4.91	4.47	0.70	0.00	0.00	0.00	2.09	2.08	1.92
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	32.83%	0.00%	0.00%	0.00%	45.83%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	6.23	8.93	6.44	1.55	0.00	1.65	1.72	2.23	1.88	1.83
Quick Ratio	5.94	8.42	6.15	0.63	0.00	0.85	0.95	0.93	1.02	1.08
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	6.61	5.71	23	-423	-11	27	0.00	-553	-17	-9.57
Operating Cash Flow to CapEx	402,500.00%	0.00%	0.00%	0.00%	-4,424.49%	0.00%	-1,715.70%	-1,650.24%	1,636.96%	-905.15%
Free Cash Flow to Firm to Interest Expense	2.59	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.14
Operating Cash Flow to Interest Expense	1.58	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-4.02
Operating Cash Flow Less CapEx to Interest Expense	1.58	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-4.46
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.17	0.17	0.32	0.23	0.00	0.00	0.00	1.53	1.43	1.37
Accounts Receivable Turnover	11.08	19.52	18.21	2.28	0.00	0.00	0.00	11.70	6.43	4.96
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.60	0.67	0.67
Fixed Asset Turnover	110.30	134.60	319.87	2.76	0.00	0.00	0.00	21.84	20.24	21.70
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.05	0.77	0.79
Days Sales Outstanding (DSO)	32.93	18.70	20.04	160.40	0.00	0.00	0.00	31.20	56.73	73.54
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	604.16	547.97	546.64
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	349.02	475.46	459.54
Cash Conversion Cycle (CCC)	32.93	18.70	20.04	160.40	0.00	0.00	0.00	286.34	129.24	160.65
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	-11	-11	-19	434	0.00	463	509	535	506	523
Invested Capital Turnover	-3.27	-3.45	-5.26	0.77	0.00	0.00	0.00	7.20	3.97	3.73
Increase / (Decrease) in Invested Capital	-2.21	-1.53	-10	442	19	29	0.00	535	43	13
Enterprise Value (EV)	28	27	15	502	0.00	424	460	458	411	442
Market Capitalization	209	221	235	298	377	271	270	219	212	215
Book Value per Share	$5.26	$5.75	$6.35	$7.23	$0.00	$9.66	$9.89	$9.13	$9.47	$9.12
Tangible Book Value per Share	$5.26	$5.75	$6.35	$3.81	$0.00	$6.31	$6.71	$4.20	$4.57	$4.24
Total Capital	169	183	201	613	0.00	660	707	716	696	700
Total Debt	0.00	0.00	0.00	187	0.00	178	141	170	123	138
Total Long-Term Debt	0.00	0.00	0.00	187	0.00	178	141	170	123	138
Net Debt	-181	-194	-220	8.08	0.00	-19	-57	-11	-67	-40
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	2.59	0.00	2.55	3.74	4.32	3.73
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-16	-7.23	-15	107	0.00	176	233	271	252	281
Debt-free Net Working Capital (DFNWC)	135	153	164	241	0.00	336	387	439	439	459
Net Working Capital (NWC)	135	153	164	241	0.00	336	387	439	439	459
Net Nonoperating Expense (NNE)	1.73	-12	-6.12	-2.67	-32	0.89	-5.61	-2.87	-1.02	14
Net Nonoperating Obligations (NNO)	-181	-194	-220	8.08	0.00	-19	-57	-11	-67	-39
Total Depreciation and Amortization (D&A)	-0.22	0.01	0.02	2.20	5.30	0.00	10	10	11	11
Debt-free, Cash-free Net Working Capital to Revenue	-47.91%	-21.30%	-21.75%	65.85%	0.00%	0.00%	0.00%	14.09%	13.08%	14.61%
Debt-free Net Working Capital to Revenue	412.90%	451.48%	231.61%	147.63%	0.00%	0.00%	0.00%	22.79%	22.77%	23.85%
Net Working Capital to Revenue	412.90%	451.48%	231.61%	147.63%	0.00%	0.00%	0.00%	22.79%	22.77%	23.85%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.08	$0.50	$0.60	$0.91	$0.00	$0.84	$0.48	($0.03)	$0.37	($0.31)
Adjusted Weighted Average Basic Shares Outstanding	32.52M	32.21M	31.03M	31.88M	0.00	32.22M	32.29M	32.62M	32.84M	32.94M
Adjusted Diluted Earnings per Share	$0.08	$0.50	$0.59	$0.89	$0.00	$0.83	$0.47	($0.03)	$0.36	($0.31)
Adjusted Weighted Average Diluted Shares Outstanding	32.75M	32.54M	31.41M	32.53M	0.00	32.92M	33.06M	32.62M	33.24M	32.94M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	31.84M	31.70M	31.85M	32.18M	0.00	32.28M	32.40M	0.00	0.00	33.10M
Normalized Net Operating Profit after Tax (NOPAT)	4.41	4.17	13	20	10	57	14	-16	26	4.20
Normalized NOPAT Margin	46.47%	40.21%	28.59%	20.10%	2.06%	0.00%	0.00%	-1.88%	0.00%	0.00%
Pre Tax Income Margin	41.82%	185.87%	56.38%	29.28%	4.36%	0.00%	0.00%	-5.54%	0.00%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.55	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.59
NOPAT to Interest Expense	1.73	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.42
EBIT Less CapEx to Interest Expense	2.55	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.15
NOPAT Less CapEx to Interest Expense	1.72	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.03
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	17.03%	21.81%	10.14%	8.56%	0.00%	0.00%	0.00%	11.00%	19.57%	57.97%
Augmented Payout Ratio	38.62%	46.13%	10.14%	17.85%	0.00%	0.00%	0.00%	13.31%	23.20%	84.08%

Financials Breakdown Chart

Key Financial Trends

Immersion (NASDAQ: IMMR) shows a mixed picture in Q3 2026, with a stronger balance sheet than a year ago but continued weakness in profitability and operating cash flow. The company ended the quarter with solid liquidity, but earnings remain pressured by heavy operating costs, interest expense, and a large negative contribution from continuing operations.

Liquidity remains strong: IMMR held $129.8 million in cash and equivalents plus $48.1 million in short-term investments at Q3 2026, giving it $177.9 million in readily available liquidity.
Book equity improved year over year: Total common equity rose to $295.4 million from $319.2 million in Q3 2025, and total equity & noncontrolling interests increased to $562.0 million from $566.3 million, reflecting a still sizable capital base.
Operating cash generation was positive in Q2 2026: The prior quarter produced $70.6 million of operating cash flow, showing the business can still generate cash in stronger periods.
Debt has come down from prior-year levels: Long-term debt was $138.4 million in Q3 2026, down from $141.2 million in Q3 2025 and well below the earlier Q1/Q2 2026 peak levels.
Investing cash flow was positive in Q3 2026: The company generated $10.0 million from investing activities, helped by sales and maturities of investments exceeding new investment purchases and capex.
Revenue data is limited in these statements: Several recent quarters show zero reported revenue in the provided income statement format, while earlier quarters reported meaningful operating revenue, so the statements appear inconsistent or incomplete for top-line trend analysis.
Noncontrolling interests are meaningful: IMMR has a large noncontrolling interest balance, which complicates interpretation of net income attributable to common shareholders versus consolidated results.
Asset mix shifted higher in receivables and inventory: Accounts receivable rose to $418.8 million and inventory to $373.1 million in Q3 2026, indicating a sizable working-capital footprint.
Q3 2026 net cash movement was not dramatic: Cash and equivalents increased only modestly quarter over quarter, suggesting operating weakness was largely offset by financing actions and investment activity.
Q3 2026 was unprofitable: The company reported a net loss attributable to common shareholders of $265.8 million, or $(0.31) per share.
Operating cash flow turned negative: IMMR used $33.8 million in operating cash during Q3 2026, a sharp deterioration from the prior quarter’s $70.6 million of operating cash generation.
Operating income barely covered overhead: Q3 2026 operating income was only $5.0 million versus $250.5 million of operating expenses, showing a very thin operating margin structure.
Interest expense remains a burden: Q3 2026 interest expense was $8.4 million, which exceeded operating income and pushed pretax results deeper into the red.
Working capital pressure is significant: Current liabilities were $554.0 million against $1.01 billion of current assets, but a large portion of assets sits in receivables and inventory, which are not as liquid as cash.
Quarterly results were volatile across the last year: Q1 2026, Q2 2026, and Q3 2026 all swung meaningfully versus the prior year periods, pointing to inconsistent earnings quality and uneven operating performance.

Bottom line: Immersion’s balance sheet is still adequately capitalized, and liquidity looks manageable, but the company is facing real profitability and cash flow pressure. For retail investors, the key question is whether IMMR can convert its asset base and debt capacity into sustained operating earnings rather than relying on financial engineering and investment income.

07/03/26 06:14 PM ETAI Generated. May Contain Errors.

Immersion Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Immersion's financial year ends in April. Their financial year 2025 ended on April 30, 2025.

Immersion's net income appears to be on an upward trend, with a most recent value of $157.87 million in 2025, rising from $4.12 million in 2014. The previous period was $33.98 million in 2023. View Immersion's forecast to see where analysts expect Immersion to go next.

Immersion's total operating income in 2025 was $118.02 million, based on the following breakdown:

Total Gross Profit: $1.56 billion
Total Operating Expenses: $278.51 million

Over the last 10 years, Immersion's total revenue changed from $52.94 million in 2014 to $1.56 billion in 2025, a change of 2,839.1%.

Immersion's total liabilities were at $543.58 million at the end of 2025, a 1,100.2% increase from 2024, and a 2,791.4% increase since 2015.

In the past 10 years, Immersion's cash and equivalents has ranged from $24.62 million in 2017 to $110.99 million in 2018, and is currently $72.61 million as of their latest financial filing in 2025.

Over the last 10 years, Immersion's book value per share changed from 2.77 in 2014 to 9.20 in 2025, a change of 232.5%.

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Financial statements for NASDAQ:IMMR last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Immersion (IMMR) Financials

Financials Breakdown Chart

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Immersion Financials - Frequently Asked Questions

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Immersion (IMMR) Financials

Annual Income Statements for Immersion

Quarterly Income Statements for Immersion

Annual Cash Flow Statements for Immersion

Quarterly Cash Flow Statements for Immersion

Annual Balance Sheets for Immersion

Quarterly Balance Sheets for Immersion

Annual Metrics And Ratios for Immersion

Quarterly Metrics And Ratios for Immersion

Financials Breakdown Chart

Key Financial Trends

Immersion Financials - Frequently Asked Questions

When does Immersion's fiscal year end?

How has Immersion's net income changed over the last 10 years?

What is Immersion's operating income?

How has Immersion's revenue changed over the last 10 years?

How much debt does Immersion have?

How much cash does Immersion have?

How has Immersion's book value per share changed over the last 10 years?

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