Immersion (IMMR) investor relations material

Executive summary

• Revenue for the quarter ended October 31, 2025, was $650.2 million, up 6% year-over-year, driven by Barnes & Noble Education's growth and offset by a decline in Immersion's fixed fee license revenue.

• Net income attributable to stockholders was $12.0 million for the quarter, down from $30.8 million in the prior year, reflecting lower one-time license revenue and higher costs.

• The acquisition of a controlling interest in Barnes & Noble Education on June 10, 2024, diversified operations and expanded the customer base.

Financial highlights

• Total revenues for the six months ended October 31, 2025, were $942.2 million, up 18% year-over-year.

• Operating income for the quarter was $40.1 million, down 43% year-over-year; for the six months, operating income was $13.7 million, down 84%.

• Net income for the quarter was $26.9 million, down from $64.4 million in the prior year.

• Cash, cash equivalents, and investments-current totaled $186.7 million as of October 31, 2025.

• No shares were repurchased during the quarter; $40.6 million remains available under the repurchase program.

Outlook and guidance

• Management expects continued growth in Barnes & Noble Education's BNC First Day® programs and ongoing expansion of digital and rental offerings.

• The company believes it has sufficient capital resources to meet working capital needs for the next twelve months and beyond.