Immersion Q3 2022 Earnings Report
Key Takeaways
Immersion Corporation reported a significant increase in revenue and net income for the third quarter of 2022. Total revenues increased to $14.0 million, and GAAP net income reached $7.7 million, or $0.23 per diluted share. The company also repurchased 7 percent of shares outstanding year to date and announced a quarterly dividend.
Total revenues increased to $14.0 million, compared to $7.2 million in Q3 2021.
GAAP net income was $7.7 million, or $0.23 per diluted share, compared to $3.8 million, or $0.12 per diluted share, in Q3 2021.
The company repurchased 2,542,065 shares year-to-date, representing 7.4% of shares outstanding.
A quarterly cash dividend of $0.03 per share was approved.
Immersion
Immersion
Immersion Revenue by Segment
Forward Guidance
Immersion is focused on renewing license agreements, protecting its intellectual property, and pursuing thoughtful capital allocation to drive long-term shareholder value.
Positive Outlook
- Renewing license agreements
- Protecting intellectual property
- Pursuing thoughtful capital allocation
- Driving long-term shareholder value
- Financial strength allows for significant share repurchases
Challenges Ahead
- Very difficult macroeconomic backdrop
- Inability to predict the outcome of any litigation
- The costs associated with any litigation
- The effects of the COVID-19 global pandemic
- Unanticipated changes in the markets
Revenue & Expenses
Visualization of income flow from segment revenue to net income