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Jun 30, 2024
Immersion Q2 2024 Earnings Report
Immersion reported a strong second quarter with increased revenue and net income, driven by royalty and license revenue and the acquisition of Barnes & Noble Education shares.
Key Takeaways
Immersion Corporation reported a significant increase in revenue and net income for the second quarter of 2024. Total revenues reached $99.4 million, compared to $7.0 million in the same quarter of the previous year. GAAP net income attributable to Immersion stockholders was $28.9 million, or $0.89 per diluted share, compared to $7.0 million, or $0.21 per diluted share, in the second quarter of 2023. The company's investment in Barnes & Noble Education contributed to the increased revenue and stockholders' equity.
Total revenues increased to $99.4 million, significantly up from $7.0 million in Q2 2023.
GAAP net income attributable to Immersion stockholders was $28.9 million, or $0.89 per diluted share, a substantial increase from $7.0 million, or $0.21 per diluted share, in Q2 2023.
Non-GAAP net income attributable to Immersion stockholders reached $37.0 million, or $1.14 per diluted share, compared to $8.4 million, or $0.26 per diluted share, in Q2 2023.
The company acquired 42% of Barnes & Noble Education's common shares and control through five Immersion-appointed board seats.
Immersion
Immersion
Immersion Revenue by Segment
Revenue by Segment
Royalty and license Revenue
CapyFin.comProduct and other Revenue
CapyFin.comRental income Revenue
CapyFin.com Forward Guidance
Immersion will continue to protect and monetize intellectual property and seek to drive long-term shareholder value through thoughtful capital allocation.
Positive Outlook
- Continuing to protect and monetize intellectual property.
- Taking advantage of a strong and liquid balance sheet.
- Making an important investment in Barnes & Noble Education.
- Driving long-term shareholder value.
- Pursuing thoughtful capital allocation.
Challenges Ahead
- The inability to predict the outcome of any litigation.
- The costs associated with any litigation and the risks related to our business, both direct and indirect, of initiating litigation.
- Unanticipated changes in the markets in which the Company operates.
- The effects of the current macroeconomic climate.
- Delay in or failure to achieve adoption of or commercial demand for the Company’s products or third party products incorporating the Company’s technologies.
Revenue & Expenses
Visualization of income flow from segment revenue to net income