Immersion Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Immersion Corp. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial performance and business activities.</b>

AI Summary

IMMERSION CORP (IMMR) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Immersion Corp. filed a 10-Q report for the period ending March 31, 2024. The filing covers financial data and business operations for the first quarter of 2024. Key financial statement items and disclosures are included in the report. The company's fiscal year ends on December 31st. The filing was made on May 8, 2024.

Why It Matters

For investors and stakeholders tracking IMMERSION CORP, this filing contains several important signals. This 10-Q provides investors with the latest financial snapshot of Immersion Corp., crucial for understanding its current operational health and strategic direction. The detailed financial information allows stakeholders to assess the company's revenue streams, expenses, and overall financial position as of Q1 2024.

Risk Assessment

Risk Level: low — IMMERSION CORP shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report for publicly traded companies, indicating no immediate or unusual risks are highlighted within the filing's metadata.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Immersion Corp.'s Q1 2024 performance and outlook.

Key Numbers

• 20240331 — Reporting Period End Date (CONFORMED PERIOD OF REPORT)
• 20240508 — Filing Date (FILED AS OF DATE)
• 1231 — Fiscal Year End (FISCAL YEAR END)
• 3577 — Standard Industrial Classification (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• IMMERSION CORP (company) — FILER
• 0001058811 (company) — CENTRAL INDEX KEY
• DE (company) — STATE OF INCORPORATION
• AVENTURA (company) — CITY
• FL (company) — STATE
• 19980602 (date) — DATE OF NAME CHANGE
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 20240508 (date) — FILED AS OF DATE

FAQ

Industry Context

Immersion Corp. operates in the computer peripheral equipment sector, focusing on technology related to human interface and immersion experiences.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded entities, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the revenue breakdown for Q1 2024, if available in the full filing.
2. Review any disclosed changes in operating expenses (R&D, SG&A) for the quarter.
3. Examine the balance sheet for significant changes in assets, liabilities, and equity compared to the previous period.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the quarter ending March 31, 2024. A comparison to the prior year's Q1 or the preceding 10-K would require access to those specific filings.

Filing Documents

• immr-20240331.htm (10-Q) — 1742KB
• ex101_1.htm (EX-10.1) — 56KB
• ex311_2.htm (EX-31.1) — 10KB
• ex312_3.htm (EX-31.2) — 9KB
• ex321_4.htm (EX-32.1) — 10KB
• ex322_5.htm (EX-32.2) — 10KB
• 0001213900-24-040912.txt (&nbsp;) — 9610KB
• immr-20240331_def.xml (EX-101.DEF) — 449KB
• immr-20240331_pre.xml (EX-101.PRE) — 646KB
• immr-20240331_cal.xml (EX-101.CAL) — 103KB
• immr-20240331_lab.xml (EX-101.LAB) — 1133KB
• immr-20240331.xsd (EX-101.SCH) — 62KB
• immr-20240331_htm.xml (XML) — 1567KB

Financial Statements

Financial Statements 1 Unaudited Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Income and Comprehensive Income for the Three Months Ended March 31, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 4 Unaudited Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4. Control and Procedures 32 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 6 Exhibits 38

Signatures

Signatures 39 Table of Contents PART I FINANCIAL INFORMATION

. Financial Statements

Item 1 . Financial Statements IMMERSION CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 91,097 $ 56,071 Investments - current 88,010 104,291 Accounts and other receivables 6,028 2,241 Prepaid expenses and other current assets 8,701 9,847 Total current assets 193,836 172,450 Property and equipment, net 170 211 Investments - noncurrent 40,958 33,350 Long-term deposits 6,394 6,231 Deferred tax assets 3,343 3,343 Other assets 1 146 Total assets $ 244,702 $ 215,731 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 21 $ 47 Accrued compensation 3,187 3,127 Deferred revenue - current 12,314 4,239 Other current liabilities 14,586 11,900 Total current liabilities 30,108 19,313 Deferred revenue - noncurrent 8,213 8,390 Other long-term liabilities 4,925 4,926 Total liabilities 43,246 32,629 Commitments and contingencies (Note 5 ) Stockholders' equity: Common stock and additional paid-in capital 322,310 322,182 Accumulated other comprehensive income 1,530 1,702 Accumulated deficit ( 17,385 ) ( 36,040 ) Treasury stock ( 104,999 ) ( 104,742 ) Total stockholders' equity 201,456 183,102 Total liabilities and stockholders' equity $ 244,702 $ 215,731 See accompanying Notes to Condensed Consolidated Financial Statements. 1 Table of Contents IMMERSION CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATION S AND COMPREHENSIVE INCOME (In thousands, except per share amounts) (Unaudited) Three Months Ended March 31, 2024 2023 Revenues: Royalty and license $ 43,847 $ 7,009 Development, services, and other — 65 Total revenues 43,847 7,074 Operating expenses: Sales and marketing 1,338 96 Research and dev

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View this 10-Q filing on SEC EDGAR