-------       ------    -------       ------ 
Net income               $ 55,759      $ 7,028   $ 68,154      $15,306 
                          =======       ======    =======       ====== 
Net income attributable 
 to noncontrolling 
 interest                  28,602           --     13,837           -- 
                          -------       ------    -------       ------ 
Net income attributable 
 to Immersion 
 stockholders            $ 27,157      $ 7,028   $ 54,317      $15,306 
                          =======       ======    =======       ====== 
Diluted income per 
 common share 
 attributable to 
 Immersion 
 stockholders            $   0.83      $  0.21   $   1.65      $  0.47 
                          =======       ======    =======       ====== 
Shares used in 
 calculating diluted 
 net income per share      32,917       32,810     32,889       32,839 
                          =======       ======    =======       ====== 
 
 
(1) The financial information presented includes the financial information of 
Barnes & Noble Education for the 13 weeks and 26 weeks ended October 26, 2024. 
For purposes of these consolidated financial statements, the results of Barnes 
& Noble Education herein have been aligned to the Company's reporting 
periods. 
 
 
  Immersion Corporation Reconciliation of GAAP net income 
  attributable to Immersion stockholders to Non-GAAP net 
     income attributable to Immersion stockholders (In 
     thousands, except per share amounts) (Unaudited) 
 
                   Three Months Ended    Six Months Ended 
                   ------------------  -------------------- 
                    October    June     October    June 
                      31,       30,       31,       30, 
                    2024(1)   2023(2)   2024(1)   2023(2) 
                    -------   -------   -------   ------- 
GAAP net income 
 attributable to 
 Immersion 
 stockholders      $ 27,157  $  7,028  $ 54,317  $ 15,306 
Add: Stock-based 
 compensation         3,185       760     4,800     1,707 
   Depreciation 
    and 
    amortization 
    of property 
    and 
    equipment         9,391        21    14,680        42 
   Restructuring 
    expense and 
    other 
    charges              59       125     5,064       312 
   Business 
    acquisition 
    related 
    costs               426        --     2,774        -- 
   Other 
    nonrecurring 
    charges              31       481        71       560 
                    -------   -------   -------   ------- 
Non-GAAP net 
 income 
 attributable to 
 Immersion 
 stockholders      $ 40,249  $  8,415  $ 81,706  $ 17,927 
                    =======   =======   =======   ======= 
Non-GAAP net 
 income per 
 diluted common 
 share 
 attributable to 
 Immersion 
 stockholder       $   1.22  $   0.26  $   2.48  $   0.55 
                    =======   =======   =======   ======= 
Shares used in 
 calculating 
 Non-GAAP net 
 income per 
 diluted share 
 attributable to 
 Immersion 
 stockholder         32,917    32,810    32,889    32,839 
                    =======   =======   =======   ======= 
 
 
(1) The financial information presented includes the financial information of 
Barnes & Noble Education for the 13 weeks and 26 weeks ended October 26, 2024. 
For purposes of these consolidated financial statements, the results of Barnes 
& Noble Education herein have been aligned to the Company's reporting 
periods. 
(2) In order to provide for better comparability between periods and a better 
understanding of underlying trends, the Non-GAAP information above includes an 
updated presentation of the applicable period of the prior year 2023. 
 
 
 Immersion Corporation Reconciliation of GAAP Operating Expenses 
    to Non-GAAP Operating Expenses (In thousands) (Unaudited) 
 
                    Three Months Ended       Six Months Ended 
                   --------------------  ------------------------ 
                                  June                   June 
                     October      30,     October 31,     30, 
                     31, 2024     2023       2024        2023 
                    ----------   ------   -----------   ------- 
GAAP operating 
 expenses          $86,332      $3,870   $144,615      $ 7,685 
Adjustments to 
GAAP operating 
expenses: 
   Stock-based 
    compensation 
    expense         (3,185)       (760)    (4,800)      (1,707) 
   Depreciation 
    and 
    amortization 
    expense of 
    property and 
    equipment       (9,391)        (21)   (14,680)         (42) 
   Restructuring 
    expense 
    charges            (59)       (125)    (5,064)        (312) 
   Business 
    acquisition 
    related 
    costs             (426)         --     (2,774)          -- 
   Other 
    nonrecurring 
    charges            (31)       (481)       (71)        (560) 
                    ------       -----    -------       ------ 
Non-GAAP 
 operating 
 expenses          $73,240      $2,483   $117,226      $ 5,064 
                    ======       =====    =======       ====== 
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20241216031626/en/

 
    CONTACT: 

Investor Contact:

J. Michael Dodson

Immersion Corporation

mdodson@immersion.com

(END) Dow Jones Newswires

December 16, 2024 08:55 ET (13:55 GMT)