Immersion(IMMR) - 2024 Q4 - Annual Results

Financial Performance - Total revenues for the third quarter of fiscal 2025 were $474.8 million, a significant increase from $9.5 million in the same period of the previous year[3] - GAAP net income attributable to Immersion stockholders was $15.5 million, or $0.47 per diluted share, compared to $2.7 million, or $0.08 per diluted share, in the prior year[3] - Non-GAAP net income attributable to Immersion stockholders was $20.8 million, or $0.63 per diluted share, up from $3.7 million, or $0.11 per diluted share, year-over-year[3] - Net income attributable to Immersion stockholders for the three months ended January 31, 2025, was $15,472,000, compared to $2,680,000 for the same period in 2023, reflecting a growth of 474%[27] - Non-GAAP net income attributable to Immersion stockholders for the three months ended January 31, 2025, was $20,843,000, up from $3,676,000 in the same period last year, indicating a 467% increase[27] - Earnings per diluted share attributable to Immersion stockholders for the three months ended January 31, 2025, was $0.63, compared to $0.11 for the same period in 2023, marking a substantial rise[27] - Operating income for the three months ended January 31, 2025, was $26,206,000, compared to $6,519,000 for the same period in 2023, reflecting a growth of 302%[24] Expenses and Liabilities - GAAP operating expenses increased to $79.6 million from $3.0 million in the same quarter last year[3] - Total operating expenses for the three months ended January 31, 2025, were $79,613,000, compared to $2,963,000 for the same period in 2023, showing a significant increase[29] - Non-GAAP operating expenses for the three months ended January 31, 2025, were $74,242,000, compared to $1,967,000 for the same period in 2023, highlighting a substantial increase[29] - The company reported a provision for income taxes of $17,417,000 for the three months ended January 31, 2025, compared to $1,285,000 for the same period in 2023, indicating a significant rise in tax obligations[24] - Total liabilities rose to $804.250 million as of January 31, 2025, compared to $45.291 million as of April 30, 2024[21] Shareholder Returns and Equity - The company returned over $9 million to shareholders through dividends and buybacks during the quarter[4] - The company plans to pay a quarterly dividend of $0.045 per share on April 25, 2025[7] - Immersion's total stockholders' equity attributable to Immersion Corporation stockholders was $319.166 million as of January 31, 2025, up from $201.230 million in the previous year[21] Asset Growth - Total current assets increased to $925.975 million as of January 31, 2025, compared to $190.608 million as of April 30, 2024[18] Acquisitions - Immersion acquired a 42% stake in Barnes & Noble Education, which was later reduced to 32.3% due to additional stock issuances[2] Other Income - Interest and other income for the three months ended January 31, 2025, was $14,803,000, compared to an expense of $2,554,000 in the same period last year, indicating a positive shift[24] Stock Information - The weighted average common stock outstanding for diluted shares was 33,055,000 for the three months ended January 31, 2025, compared to 32,750,000 for the same period in 2023[27]