10-Q - IMMERSION CORP (0001058811) (Filer)

Mon, Dec 16, 2:30 PM (27 days ago)

**Immersion Corporation (IMMR) - Q2 FY2025 Summary** For the quarter ending October 31, 2024, Immersion Corporation reported significant financial developments following its acquisition of Barnes & Noble Education (BNED) on June 10, 2024. Total revenues surged to $616.2 million, a substantial increase from $7.0 million in the prior year, driven by BNED's contributions of $602.1 million. Immersion's royalty and license revenues also rose to $14.1 million, reflecting increased mobility license agreements. Operating income reached $64.4 million, largely attributed to BNED's performance, despite a loss of $10.5 million from Immersion's operations. Net income attributable to Immersion stockholders was $27.2 million, translating to earnings per share of $0.84. The company faced challenges with cash flow, reporting a net cash outflow of $64.0 million from operations, primarily due to changes in working capital. As of October 31, 2024, cash and equivalents stood at $97.9 million. Looking ahead, Immersion aims to capitalize on BNED's robust market position and expand its educational offerings, particularly through the BNC First Day programs. However, uncertainties remain regarding the integration of BNED and the impact of economic conditions on operations.