The headline EPS beat is misleading as the business is now a consolidated holding company for Barnes & Noble Education, making the core haptics licensing revenue ($3.8M) nearly immaterial. The stock is likely to trade on the value of its BNED stake and cash position rather than operating earnings. Monitor BNED's performance and any strategic actions regarding the stake.
Price Chart
Executive Summary
Immersion Corp reported Q1 FY2027 results with GAAP EPS of $0.17, significantly beating the $0.06 consensus estimate, and total revenue of $294.4M, up slightly YoY. The core royalty and license revenue was essentially flat at $3.8M, while the consolidated results are dominated by the Barnes & Noble Education segment. The company also declared its 16th consecutive quarterly dividend of $0.075/share, reinforcing its capital return policy.
Key Financial Metrics
Key Facts
- GAAP EPS of $0.17 beat consensus of $0.06 by 183%
- Total revenue of $294.4M was up 0.8% YoY from $292.0M
- Core royalty and license revenue was $3.8M, flat YoY vs $3.9M
- GAAP net income attributable to Immersion stockholders was $4.9M vs a loss of $0.9M in the prior year
- Non-GAAP net income was $16.6M, slightly below $16.9M in the prior year
- Declared a quarterly dividend of $0.075 per share, the 16th consecutive quarterly dividend
- Consolidated results are dominated by the Barnes & Noble Education segment, which contributed $290.6M of the $294.4M total revenue
Financial Impact
GAAP EPS of $0.17 vs consensus $0.06; total revenue $294.4M vs consensus $3.4M (revenue consensus appears to be for the standalone licensing business only, not the consolidated BNED entity)
Risk Factors
- Core haptics licensing revenue remains flat and is a negligible part of the business
- Consolidated operating loss of $20.0M driven by BNED's seasonal losses
- BNED long-term borrowings increased to $123.5M from $71.0M at year-end
- Non-GAAP net income slightly declined YoY from $16.9M to $16.6M
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-389915 |
| Document: immr-20260914.htm | 0001193125-26-389915 |
| Document: 0001193125-26-389915-index-headers.html | 0001193125-26-389915 |
| Document: 0001193125-26-389915-index.html | 0001193125-26-389915 |
| Document: 0001193125-26-389915.txt | 0001193125-26-389915 |
| 8-K Data (Synthetic) | 0001193125-26-389915 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 6w ago | 8-K | $7.21 | awaiting T+60 | — | $7.12 (−1.25%) |
Aug 28, 2026 8w ago | DEFA14A | $7.58 | awaiting T+60 | — | $7.12 (−6.07%) |
Jul 27, 2026 13w ago | 8-K | $7.74 $7.08 | ▼ −8.47% | ▼ −12.17% | $7.12 (−7.95%) |
Jul 2, 2026 16w ago | 8-K | $6.78 $7.25 | ▲ +6.93% | ▲ +3.36% | $7.12 (+5.01%) |
May 15, 2026 23w ago | 8-K | $6.15 $7.48 | ▲ +21.63% | ▲ +17.11% | $7.12 (+15.77%) |
Apr 24, 2026 26w ago | 8-K | $6.09 $6.52 | ▼ −7.06% | ▼ −1.98% | $7.12 (−16.91%) |
Feb 28, 2026 34w ago | Institutional Cluster | $6.09 $6.38 | ▲ +4.79% | ▼ −4.54% | $7.12 (+16.94%) |
US Market Status
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