The EPS beat and dividend increase are positive, but the Q4 revenue decline and 93% full-year GAAP net income drop temper the outlook. The unresolved BNED investigation adds uncertainty around financial controls and potential restatement risk. Monitor next quarter for revenue stabilization and any BNED investigation resolution.
Price Chart
Executive Summary
Immersion reported Q4 FY2026 GAAP EPS of $0.12, beating the $0.05 consensus by 140%, but total Q4 revenue declined 5.2% YoY to $270.0M. GAAP net income attributable to stockholders improved to $3.7M from a $17.7M loss a year ago, while full-year GAAP net income collapsed to $4.5M from $64.3M. The company increased its quarterly dividend to $0.075/share and has $39.3M remaining in buyback capacity, but the ongoing Barnes & Noble Education accounting investigation continues to weigh on sentiment.
Key Financial Metrics
Key Facts
- Q4 GAAP EPS $0.12 vs $0.05 consensus (+140% beat)
- Q4 total revenue $270.0M vs $284.9M YoY (-5.2%)
- Q4 GAAP net income attributable to Immersion stockholders $3.7M vs ($17.7M) YoY
- Full-year GAAP net income attributable to stockholders $4.5M vs $64.3M (-93.0%)
- Quarterly dividend increased to $0.075 from $0.045 in December 2025
- $39.3M available under stock repurchase program
- BNED internal investigation over potential $23M accounts receivable overstatement remains ongoing
- Immersion's ownership in BNED reduced to 32.6% from 42% due to additional share issuances
Financial Impact
Q4 revenue declined $14.9M YoY; GAAP net income attributable to stockholders improved $21.4M from a loss to a profit; full-year net income dropped $59.8M; EPS beat drove $0.07 upside vs consensus
Risk Factors
- BNED accounting investigation could lead to restatement or material weakness findings
- Q4 revenue decline of 5.2% suggests core business may be contracting
- Full-year GAAP net income declined 93% from prior year, signaling deteriorating profitability
- Immersion's royalty and license revenue continues to decline ($2.9M vs $3.1M in Q4, and $15.9M vs $74.1M full year)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-316971 |
| Document: immr-20260727.htm | 0001193125-26-316971 |
| Document: 0001193125-26-316971-index-headers.html | 0001193125-26-316971 |
| Document: 0001193125-26-316971-index.html | 0001193125-26-316971 |
| Document: 0001193125-26-316971.txt | 0001193125-26-316971 |
| 8-K Data (Synthetic) | 0001193125-26-316971 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 6w ago | 8-K | $7.21 | awaiting T+60 | — | $7.11 (−1.39%) |
Aug 28, 2026 8w ago | DEFA14A | $7.58 | awaiting T+60 | — | $7.11 (−6.20%) |
Jul 27, 2026 13w ago | 8-K | $7.74 $7.08 | ▼ −8.47% | ▼ −12.17% | $7.11 (−8.08%) |
Jul 2, 2026 16w ago | 8-K | $6.78 $7.25 | ▲ +6.93% | ▲ +3.36% | $7.11 (+4.87%) |
May 15, 2026 23w ago | 8-K | $6.15 $7.48 | ▲ +21.63% | ▲ +17.11% | $7.11 (+15.61%) |
Apr 24, 2026 26w ago | 8-K | $6.09 $6.52 | ▼ −7.06% | ▼ −1.98% | $7.11 (−16.75%) |
Feb 28, 2026 34w ago | Institutional Cluster | $6.09 $6.38 | ▲ +4.79% | ▼ −4.54% | $7.11 (+16.78%) |
US Market Status
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