IMMR

MKT CAP:$201M

Immersion Corporation

Market Cap

$201M

Technology·Software - Application·🇺🇸 United States·NASDAQ

Technology·Software App·🇺🇸·NASDAQ

Stock Price

$6.03-$0.38 (-6.01%)

Apr 24, 2026

Company Details

Immersion Corporation, together with its subsidiaries, invents, scales, and licenses haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia...

CEO

Eric Brandon Singer

IPO Date

Nov 12, 1999

Website

www.immersion.com

Key Metrics TTM

Revenue

$163M

+338.2% YoY

Net Income

$66M

EPS (Diluted)

$2.05

Free Cash Flow

-$45M

Revenue / Share

$5.02

Gross Margin

75.0%

Operating Margin

34.3%

Net Margin

40.6%

FCF Margin

-27.7%

P/S

1.2x

P/E

3.0x

Earnings Reports

FY 2024

Mar 12, 2025

$1.6B+4487.0%EPS $4.11

Q2 2024

Aug 19, 2024

$99M+1323.8%EPS $0.89

Q1 2024

May 8, 2024

$44M+519.8%EPS $0.59

FY 2023

Mar 11, 2024

$34M-11.8%EPS $1.04

Q4 2023

Mar 11, 2024

$10M+13.3%EPS $0.49

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 20	$8M	$8M	$3M
Q4 20	$11M	$11M	$5M
Q1 21	$7M	$7M	$2M
Q2 21	$11M	$11M	$6M
Q3 21	$7M	$7M	$4M
Q4 21	$10M	$10M	$6M
Q1 22	$7M	$7M	$4M
Q2 22	$8M	$8M	$4M
Q3 22	$14M	$14M	$11M
Q4 22	$9M	$9M	$6M
Q1 23	$7M	$7M	$3M
Q2 23	$7M	$7M	$3M
Q3 23	$9M	$9M	$7M
Q4 23	$10M	$10M	$5M
Q1 24	$44M	$44M	$17M
Q2 24	$99M	$59M	$28M

Valuation

Quarter	P/S	P/E
Q3 20	6.1x	—
Q4 20	8.3x	47.0x
Q1 21	8.4x	21.5x
Q2 21	7.4x	14.8x
Q3 21	6.6x	12.4x
Q4 21	5.7x	16.0x
Q1 22	5.1x	11.6x
Q2 22	5.9x	22.6x
Q3 22	4.6x	14.6x
Q4 22	6.5x	8.2x
Q1 23	7.4x	8.4x
Q2 23	6.3x	5.5x
Q3 23	6.7x	5.8x
Q4 23	6.7x	6.6x
Q1 24	3.5x	5.5x
Q2 24	1.8x	4.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	$2M	$2M
Q4 20	$3M	$3M
Q1 21	$4M	$4M
Q2 21	$5M	$5M
Q3 21	$2M	$2M
Q4 21	$7M	$6M
Q1 22	$11M	$11M
Q2 22	$8M	$8M
Q3 22	$14M	$14M
Q4 22	$8M	$8M
Q1 23	$4M	$4M
Q2 23	$5M	$5M
Q3 23	$4M	$4M
Q4 23	$8M	$8M
Q1 24	$30M	$30M
Q2 24	-$86M	-$87M

Capital Expenditures

Quarter	CapEx
Q3 20	$10.0K
Q4 20	$7.0K
Q1 21	$57.0K
Q2 21	$31.0K
Q3 21	$1.0K
Q4 21	$246.0K
Q1 22	$0
Q2 22	$8.0K
Q3 22	$21.0K
Q4 22	$1.0K
Q1 23	$0
Q2 23	$0
Q3 23	$1.0K
Q4 23	$1.0K
Q1 24	$0
Q2 24	$928.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 20	-28.5%	-57.9%
Q4 20	-4.6%	-48.2%
Q1 21	+14.4%	-56.8%
Q2 21	+94.2%	-22.7%
Q3 21	-5.6%	-28.2%
Q4 21	-10.9%	-30.7%
Q1 22	+2.1%	-20.6%
Q2 22	-27.5%	-25.5%
Q3 22	+95.3%	-14.6%
Q4 22	-6.0%	-14.2%
Q1 23	-3.2%	+3.0%
Q2 23	-12.5%	-0.2%
Q3 23	-32.3%	-3.7%
Q4 23	+13.3%	+58.0%
Q1 24	+519.8%	+613.8%
Q2 24	+1323.8%	+1751.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$1M	17.6%
Q4 20	$1M	12.1%
Q1 21	$531.0K	7.4%
Q2 21	$1M	9.5%
Q3 21	$415.0K	5.8%
Q4 21	$341.0K	3.5%
Q1 22	$1M	15.6%
Q2 22	$875.0K	11.0%
Q3 22	$729.0K	5.2%
Q4 22	$829.0K	9.0%
Q1 23	$1M	18.8%
Q2 23	$866.0K	12.4%
Q3 23	$867.0K	9.1%
Q4 23	$926.0K	8.9%
Q1 24	$2M	3.7%
Q2 24	$1M	1.2%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 20	$920.0K	$3M	$1M
Q4 20	$1M	$4M	$932.0K
Q1 21	$1M	$2M	$1M
Q2 21	$1M	$3M	$1M
Q3 21	$803.0K	$2M	$443.0K
Q4 21	$708.0K	$3M	$498.0K
Q1 22	$513.0K	$3M	$486.0K
Q2 22	$355.0K	$3M	$218.0K
Q3 22	$254.0K	$3M	$282.0K
Q4 22	$262.0K	$3M	$229.0K
Q1 23	$130.0K	$4M	$96.0K
Q2 23	$99.0K	$4M	—
Q3 23	$30.0K	$3M	$397.0K
Q4 23	$22.0K	$4M	$890.0K
Q1 24	$42.0K	$26M	$1M
Q2 24	—	$29M	—

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q3 20	-28.5%	37.1%	8.6
Q4 20	-4.6%	50.2%	45.6
Q1 21	14.4%	37.5%	51.9
Q2 21	94.2%	54.5%	148.8
Q3 21	-5.6%	52.4%	46.8
Q4 21	-10.9%	61.4%	50.6
Q1 22	2.1%	49.8%	51.9
Q2 22	-27.5%	53.4%	25.9
Q3 22	95.3%	79.5%	174.7
Q4 22	-6.0%	63.6%	57.6
Q1 23	-3.2%	46.4%	43.2
Q2 23	-12.5%	145.0%	132.5
Q3 23	-32.3%	69.4%	37.1
Q4 23	13.3%	48.6%	61.9
Q1 24	519.8%	37.9%	557.8
Q2 24	1323.8%	32.4%	1356.2

Rule of 40

Revenue Segments

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$51M	$86M	$138M
Q1 22	$63M	$84M	$146M
Q2 22	$57M	$79M	$137M
Q3 22	$37M	$97M	$134M
Q4 22	$49M	$101M	$150M
Q1 23	$27M	$121M	$148M
Q2 23	$26M	$132M	$158M
Q3 23	$29M	$122M	$151M
Q4 23	$56M	$104M	$160M
Q1 24	$91M	$88M	$179M
Q2 24	$36M	$98M	$133M
Q3 24	$81M	$79M	$159M
Q4 24	$78M	$76M	$154M
Q1 25	$90M	$89M	$179M
Q2 25	$90M	$77M	$167M
Q3 25	$127M	$60M	$187M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 20	27M	-1.8%	-14.4%
Q4 20	27M	+0.7%	-14.4%
Q1 21	29M	+6.8%	-5.9%
Q2 21	31M	+7.1%	+13.1%
Q3 21	33M	+4.4%	+20.2%
Q4 21	34M	+3.8%	+23.9%
Q1 22	34M	+1.2%	+17.4%
Q2 22	34M	-1.9%	+7.6%
Q3 22	34M	+0.2%	+3.3%
Q4 22	33M	-3.3%	-3.7%
Q1 23	33M	+1.5%	-3.5%
Q2 23	33M	-0.8%	-2.4%
Q3 23	33M	-0.2%	-2.8%
Q4 23	33M	-0.1%	+0.4%
Q1 24	31M	-4.0%	-5.1%
Q2 24	33M	+3.6%	-0.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 20	$135.6K	56
Q4 20	$202.5K	54
Q1 21	$132.6K	54
Q2 21	$203.9K	54
Q3 21	$132.8K	54
Q4 21	$374.9K	26
Q1 22	$281.1K	26
Q2 22	$307.0K	26
Q3 22	$538.7K	26
Q4 22	$458.2K	20
Q1 23	$353.7K	20
Q2 23	$349.1K	20
Q3 23	$474.1K	20
Q4 23	$741.4K	14
Q1 24	$3M	14
Q2 24	$7M	14

Revenue / Employee