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immersion Immersion Corporation Reports Second Quarter 2021 Results August 16 , 2021 SAN FRANCISCO -- ( BUSINESS WIRE ) -- Aug . 16 , 2021-- Immersion Corporation ( NASDAQ : IMMR ) , the leading developer and provider of technologies for haptics , today reported financial results for the second quarter ended J une 30 , 2021 . Second Quarter Financial Summary : • Total revenues of $ 11.0 million , compared to $ 5.7 million in the second quarter of 2020. Royalty and license revenues were $ 10.9 million , compared to $ 5.6 million in the second quarter of 2020 . • GAAP operating expenses of $ 5.2 million declined 23 % from $ 6.7 million in the second quarter of 2020. Non - GAAP operating expenses of $ 3.8 million declined 28 % from non - GAAP operating expenses of $ 5.2 million in the second quarter of 2020. ( See attached table for a reconciliation of GAAP to non - GAAP financial measures . ) . GAAP net income was $ 5.3 million , or $ 0.17 per diluted share , compared to GAAP net loss of $ 0.7 million , or $ 0.03 per diluted share , in the second quarter of 2020 . • Non - GAAP net income was $ 7.2 million , or $ 0.23 per diluted share , compared to non - GAAP net income of $ 0.8 million , or $ 0.03 , in the second quarter of 2020 . • As of June 30 , 2021 , cash and cash equivalents totaled $ 107.3 million . " The results that we are reporting today reflect the continued success of our customers and partners in developing and shipping high performance haptic products and solutions in the automotive , gaming , and mobile market segments , " said Jared Smith , Interim CEO , Immersion . Recent Business Highlights : Expanded license agreement with Stanley Electric Co. , Ltd. , for the use of haptics in automotive products . • Strong revenue performance in mobile from channel licensing program . Immersion also expanded the program to include TITAN Haptics to make available haptic patent licenses for mobile phone and wearable OEMs . • Multiyear renewal license with Asus Tek for use of TouchSense software and haptics technology in its mobile products . Second Quarter Earnings Conference Call and Webcast Immersion will host a conference call with company management today at 2:00 p.m. PT ( 5:00 p.m. ET ) to discuss financial results for the second quarter ended June 30 , 2021. To participate on the live call , analysts and investors should dial 1-866-548-4713 ( conference ID : 1989215 ) at least ten minutes prior to the start of the call A recorded webcast will also be available for 90 days in the " IR News and Events " page of Immersion's Investor Relations website at https://ir.immersion.com/news-and-events . About Immersion Immersion Corporation ( NASDAQ : IMMR ) is the leading innovator of touch feedback technology , also known as haptics . The company invents , accelerates , and scales haptic experiences by providing technology solutions for mobile , automotive , gaming , and consumer electronics . Haptic technology creates immersive and realistic experiences that enhance digital interactions by engaging users ' sense of touch . Learn more at www.immersion.com . Use of Non - GAAP Financial Measures Immersion reports all financial information required in accordance with generally accepted accounting principles ( GAAP ) , but it believes that evaluating its ongoing operating results may be difficult to understand if limited to reviewing only GAAP financial measures . Immersion discloses this non - GAAP information , such as Non - GAAP net income ( loss ) and Non - GAAP net income ( loss ) per diluted share because it is useful in understanding the company's performance as it excludes certain non - cash expenses like stock - based compensation expense and other special charges , such as deferred tax assets valuation allowance , depreciation and restructuring costs , that many investors feel may obscure the company's true operating performance . Likewise , management uses these non - GAAP financial measures to manage and assess the profitability of its business . Non - GAAP financial measures should be viewed in addition to , and not as an alternative for , the Company's reported results under GAAP . The non - GAAP financial measures are not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP . Such non - GAAP financial measures are reconciled to their closest GAAP financial measures in tables contained in this press release . The Company has not reconciled the non - GAAP financial measures guidance to the corresponding GAAP measures on a forward - looking basis due to the uncertainty and the potential variability of many of the costs and expenses that may be incurred in the future . Accordingly , reconciliations of the Company's forward - looking non - GAAP financial measures to the corresponding GAAP measures are not available without unreasonable effort .