Immersion(IMMR) - 2024 Q3 - Quarterly Results

Financial Performance - Total revenues of $616.2 million in Q2 fiscal 2025, compared to $7.0 million in Q2 fiscal 2023[3] - GAAP net income attributable to Immersion stockholders of $27.2 million, or $0.83 per diluted share in Q2 fiscal 2025, compared to $7.0 million, or $0.21 per diluted share in Q2 fiscal 2023[3] - Non-GAAP net income attributable to Immersion stockholders of $40.2 million, or $1.22 per diluted share in Q2 fiscal 2025, compared to $8.4 million, or $0.26 per diluted share in Q2 fiscal 2023[5] - Total revenues for the three months ended October 31, 2024, were $616,249 thousand, compared to $6,983 thousand for the same period in 2023[27] - Net income attributable to Immersion stockholders for the three months ended October 31, 2024, was $27,157 thousand, compared to $7,028 thousand for the same period in 2023[27] - Non-GAAP net income attributable to Immersion stockholders for the three months ended October 31, 2024, was $40,249 thousand, compared to $8,415 thousand for the same period in 2023[29] - Diluted income per common share attributable to Immersion stockholders for the three months ended October 31, 2024, was $0.83, compared to $0.21 for the same period in 2023[27] - Non-GAAP net income per diluted common share attributable to Immersion stockholders for the three months ended October 31, 2024, was $1.22, compared to $0.26 for the same period in 2023[29] Operating Expenses - GAAP operating expenses of $86.3 million in Q2 fiscal 2025, compared to $3.9 million in Q2 fiscal 2023[4] - Non-GAAP operating expenses of $73.2 million in Q2 fiscal 2025, compared to $2.5 million in Q2 fiscal 2023[4] - Total operating expenses for the three months ended October 31, 2024, were $86,332 thousand, compared to $3,870 thousand for the same period in 2023[27] - Non-GAAP operating expenses for the three months ended October 31, 2024, were $73,240 thousand, compared to $2,483 thousand for the same period in 2023[32] Revenue Breakdown - Immersion's royalty and license revenue for the three months ended October 31, 2024, was $14,127 thousand, compared to $6,983 thousand for the same period in 2023[27] - Barnes & Noble Education's product and other revenue for the three months ended October 31, 2024, was $559,674 thousand, compared to $0 for the same period in 2023[27] - Barnes & Noble Education's rental income for the three months ended October 31, 2024, was $42,448 thousand, compared to $0 for the same period in 2023[27] Balance Sheet - Total current assets of $852.8 million as of October 31, 2024, compared to $190.6 million as of April 30, 2024[21] - Total liabilities of $837.6 million as of October 31, 2024, compared to $45.3 million as of April 30, 2024[24] - Total stockholders' equity of $482.5 million as of October 31, 2024, compared to $201.2 million as of April 30, 2024[24] Corporate Actions - Immersion acquired 42% of Barnes & Noble Education's outstanding common shares on June 10, 2024, later reduced to 41.2% due to additional stock issuances[6] - Immersion declared a special cash dividend of $0.245 per share payable on January 24, 2025[10]