IMMERSION CORP
For the period ended Jan 31, 2025. Filed Mar 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jan 31, 2025 · Filed Mar 12, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.20549
FORM **10-Q
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended January 31, 2025
or
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from to
Commission File Number 001-38334
Immersion Corporation
(Exact name of registrant as specified in its charter)
| Delaware | 94-3180138 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
2999 N.E. 191st Street, Suite 610, Aventura, FL,33180
(Address of principal executive offices, zip code)
(408) 467-1900
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report.)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.001 par value | IMMR | Nasdaq Global Market |
| Series B Junior Participating Preferred Stock Purchase Rights | IMMR | Nasdaq Global Market |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and "emerging growth company" in Rule 12 b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging Growth Company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12 b-2 of the Act). Yes ☐ No ☒
Number of shares of common stock outstanding at March 6, 2025 was 32,396,432.
TABLE OF CONTENTS
| PART I | 1 | |
|---|---|---|
| FINANCIAL INFORMATION | ||
| Item 1. | Financial Statements | 1 |
| Unaudited Condensed Consolidated Balance Sheets as of January 31, 2025 and April 30, 2024 | 1 | |
| Unaudited Condensed Consolidated Statements of Operations for the Three and Nine Months Ended January 31, 2025 and September 30, 2023 | 3 | |
| Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended January 31, 2025 and September 30, 2023 | 4 | |
| Unaudited Condensed Consolidated Statements of Stockholders’ Equity for the Three and Nine Months Ended January 31, 2025 and September 30, 2023 | 5 | |
| Unaudited Condensed Consolidated Statements of Cash Flows for the Nine Months Ended January 31, 2025 and September 30, 2023 | 9 | |
| Unaudited Notes to Condensed Consolidated Financial Statements | 11 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 42 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 57 |
| Item 4. | Controls and Procedures | 57 |
| PART II | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.