Earnings release
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Exhibit 99.1 Immersion Corporation Reports First Quarter of Fiscal 2027 Results GAAP Net Income Attributable to Immersion Stockholders of $4.9 million or $0.17 per diluted share Non-GAAP Net Income Attributable to Immersion Stockholders of $16.6 million or $0.50 per diluted share AVENTURA, FL, September 14, 2026 – Immersion Corporation (“Immersion”, the “Company”, “we”, “us” or “our”) (Nasdaq: IMMR), a premier licensing company of technologies for haptics, reported financial results for the first quarter of its fiscal year ending April 30, 2027 (“Fiscal 2027”). First Quarter of Fiscal 2027 Consolidated Financial Summary(1): • Total revenues of $294.4 million for the three months ended July 31, 2026, compared to $292.0 million for the three months ended July 31, 2025. • GAAP Operating expenses were $80.4 million for the three months ended July 31, 2026, compared to $84.8 million for the three months ended July 31, 2025. Non-GAAP Operating expenses were $68.7 million for the three months ended July 31, 2026, compared to $66.9 million for the three months ended July 31, 2025. • GAAP Net income (loss) attributable to Immersion stockholders was $4.9 million, or $0.17 per diluted share for the three months ended July 31, 2026, compared to $(0.9) million, or $(0.03) per diluted share, for the three months ended July 31, 2025. • Non-GAAP Net income (loss) attributable to Immersion stockholders was $16.6 million, or $0.50 per diluted share, for the three months ended July 31, 2026, compared to $16.9 million, or $0.52 per diluted share, for the three months ended July 31, 2025. (1) On June 10, 2024, the Company closed certain transactions with Barnes & Noble Education, Inc. (“Barnes & Noble Education”). As part of the transactions, the Company acquired 42% of all outstanding common shares of Barnes & Noble Education, as well as control over Barnes & Noble Education through the five Immersion-appointed board seats. As of July 31, 2026, Immersion’s stock ownership had reduced to 32.3% as a result of additional issuances of Barnes & Noble Education’s common stock to noncontrolling stockholders. The financial information presented in this press release includes the consolidated financial information of Barnes & Noble Education for the fiscal three months ended July 31, 2026 and 2025. The Company owns approximately 11.2 million shares of Barnes & Noble Education’s common stock. Eric Singer, Chairman and Chief Executive Officer, stated, “Our fiscal year is off to a strong start. While financial performance can be lumpy, we continue to be focused on executing against strategic initiatives that will drive long-term shareholder value.” Immersion will distribute a quarterly dividend of $0.075 per share on October 30, 2026, to stockholders of record as of October 16, 2026. This will mark our sixteenth consecutive quarterly dividend. About Immersion Corporation Immersion Corporation (Nasdaq: IMMR) was incorporated in 1993 in California and reincorporated in Delaware in 1999. The Company is a leading provider of touch feedback technology, also known as haptics. The Company accelerates and scales haptic experiences by providing haptic technology 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.
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On June 10, 2024, we acquired a controlling interest in Barnes & Noble Education. Barnes & Noble Education is a contract operator of physical and virtual bookstores for college and university campuses and K-12 institutions across the United States. Barnes & Noble Education is also a textbook wholesaler and inventory management hardware and software provider. Barnes & Noble Education operates physical, virtual, and custom bookstores, delivering essential educational content, tools, and general merchandise within a dynamic omnichannel retail environment. Use of Non-GAAP Financial Measures The Company reports all required financial information 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. The Company discloses certain non-GAAP information, such as Non-GAAP Net income (loss) attributable to Immersion stockholders, Non-GAAP Net income (loss) per diluted common share attributable to Immersion stockholders, and Non-GAAP Operating expenses because it is useful in understanding the Company’s performance as it excludes certain non-cash expenses like stock-based compensation, depreciation and amortization expense, impairment loss, other (income) expense, and other nonrecurring charges 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. Forward-looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The forward-looking statements involve risks and uncertainties. Forward-looking statements are identified by words such as “anticipates,” “believes,” “expects,” “intends,” “may,” “can,” “will,” “places,” “estimates,” and other similar expressions. However, these words are not the only way we identify forward-looking statements. Examples of forward-looking statements include any expectations, projections, or other characterizations of future events, or circumstances, including but not limited to statements about the Company’s focus on protecting its intellectual property, either through the execution of new or renewal of license agreements or by proactive enforcement continuing to pursue thoughtful capital allocation to increase long-term stockholder value, and the timing of any dividend payments. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results could differ materially from those projected in the forward-looking statements, therefore we caution you not to place undue reliance on these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: 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; the inability of Immersion to renew existing licensing arrangements or enter into new licensing arrangements on favorable terms; the loss of a major customer; the ability of Immersion to protect and enforce its intellectual property
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rights and other factors. For a more detailed discussion of these factors, and other factors that could cause actual results to vary materially, interested parties should review the risk factors listed in Immersion’s Annual Report on Form 10-K for fiscal 2026 as filed with the U.S. Securities and Exchange Commission (the “SEC”), and Barnes & Noble Education’s Annual Report on Form 10-K for its fiscal year ended May 2, 2026 as filed with the SEC. Any forward-looking statements made by us in this press release speak only as of the date of this press release, and the Company does not intend to update these forward-looking statements after the date of this press release, except as required by law. Immersion, and the Immersion logo are trademarks of Immersion Corporation in the United States and other countries. All the other trademarks are the property of their respective owners. The use of the word “partner” or “partnership” in this press release does not mean a legal partner or legal partnership. (IMMR – C)
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IMMERSION CORPORATION CONSOLIDATED BALANCE SHEETS (In thousands) July 31, 2026 April 30, 2026 ASSETS Immersion Cash and cash equivalents $ 167,000 $ 129,868 Investments – current 34,698 42,168 Accounts receivable, net 4,694 2,112 Prepaid expenses and other current assets 10,407 16,540 216,799 190,688 Barnes & Noble Education Cash and cash equivalents 7,806 8,418 Accounts receivables, net 176,686 116,526 Merchandise inventories, net 366,296 298,347 Textbook rental inventories, net 5,844 27,035 Prepaid expenses and other current assets 37,237 34,138 593,869 484,464 Total Current Assets 810,668 675,152 Immersion Property and equipment, net 43 57 Long-term deposits 185 188 Other assets – noncurrent 12,988 19,917 13,216 20,162 Barnes & Noble Education Property and equipment, net 61,724 68,160 Intangible assets, net 86,771 87,733 Goodwill 69,162 69,162 Operating lease right-of-use assets 125,536 122,238 Other assets – noncurrent 9,437 9,735 352,630 357,028 Total Assets $ 1,176,514 $ 1,052,342
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IMMERSION CORPORATION CONSOLIDATED BALANCE SHEETS (In thousands except share and per share data) July 31, 2026 April 30, 2026 LIABILITIES AND STOCKHOLDERS’ EQUITY Immersion Accounts payable $ 63 $ 16 Accrued compensation 1,189 41 Deferred revenue – current 2,925 2,926 Other current liabilities 23,169 12,379 27,346 15,362 Barnes & Noble Education Accounts payable 210,999 135,564 Accrued liabilities 62,703 64,522 Deferred revenue – current 10,133 10,419 Operating lease liabilities – current 67,971 67,484 351,806 277,989 Total Current Liabilities 379,152 293,351 Immersion Deferred revenue – noncurrent 2,133 2,864 Deferred income taxes – noncurrent 12,758 14,177 Other long-term liabilities 12,138 11,726 27,029 28,767 Barnes & Noble Education Deferred income taxes – noncurrent 981 2,225 Operating lease liabilities – noncurrent 81,353 84,197 Deferred revenue – noncurrent 2,689 2,774 Other long-term liabilities 2,574 2,623 Long-term borrowings 123,500 71,000 211,097 162,819 Total Liabilities 617,278 484,937 Commitments and contingencies (Note 16) Stockholders’ Equity: Common stock – $0.001 par value; 100,000,000 shares authorized; 50,476,158 and 33,197,541 shares issued and outstanding, respectively, at July 31, 2026; 50,374,852 and 33,125,749 shares issued and outstanding, respectively, at April 30, 2026 50 50 Additional paid-in capital 379,325 379,644 Accumulated other comprehensive income (loss) 122 122 Accumulated earnings (deficit) 33,515 31,165 Treasury stock: 17,278,617 and 17,249,103 shares as of July 31, 2026 and April 30, 2026, respectively, at cost (114,020) (113,816) Total Stockholders' Equity Attributable to Immersion Corporation Stockholders 298,992 297,165 Noncontrolling interest in consolidated subsidiaries 260,244 270,240 Total Stockholders' Equity 559,236 567,405 Total Liabilities and Stockholders’ Equity $ 1,176,514 $ 1,052,342
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IMMERSION CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended July 31, (In thousands except share and per share data) 2026 2025 REVENUES Immersion Royalty and license $ 3,804 $ 3,872 Barnes & Noble Education Product and other 276,859 274,179 Rental 13,736 13,981 290,595 288,160 Total revenues 294,399 292,032 COST OF SALES (excludes depreciation and amortization expense) Barnes & Noble Education Product and other cost of sales 227,250 226,174 Rental cost of sales 6,765 7,420 Total cost of sales 234,015 233,594 OPERATING EXPENSES Immersion Selling and administrative expenses 3,498 3,695 Barnes & Noble Education Selling and administrative expenses 67,316 67,805 Depreciation and amortization expense 10,204 10,397 Other (income) expense (652) 2,896 76,868 81,098 Total operating expenses 80,366 84,793 Operating Income (Loss) (19,982) (26,355) Interest and other income (expense), net 15,099 7,741 Interest expense 1,802 2,829 Income (Loss) Before Income Taxes (6,685) (21,443) Income tax benefit (expense) 2,130 7,727 Net Income (Loss) (4,555) (13,716) Less: Net income (loss) attributable to noncontrolling interest (9,431) (12,786) Net Income (Loss) Attributable to Immersion Stockholders $ 4,876 $ (930) Earnings (Loss) Per Common Share Attributable to Immersion Stockholders Basic $ 0.17 $ (0.03) Diluted $ 0.17 $ (0.03) Weighted-Average Common Shares Outstanding Basic 33,153 32,615 Diluted 33,303 32,615
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Immersion Corporation Reconciliation of GAAP Net Income (Loss) Attributable to Immersion Stockholders to Non-GAAP Net Income (Loss) Attributable to Immersion Stockholders (In thousands, except per share amounts) (Unaudited) Three Months Ended July 31, 2026 2025 GAAP Net income (loss) attributable to Immersion stockholders $ 4,876 $ (930) Adjustments to GAAP Net income (loss) attributable to Immersion stockholders: Stock-based compensation 2,038 4,478 Depreciation and amortization expense 10,204 10,397 Other (income) expense (652) 2,896 Incremental operating costs incurred due to BNED acquisition 71 48 Other nonrecurring charges 14 33 Non-GAAP Net Income (Loss) Attributable to Immersion Stockholders $ 16,551 $ 16,922 Non-GAAP Net Income (Loss) Per Diluted Common Share Attributable to Immersion Stockholders $ 0.50 $ 0.52 Weighted-Average Common Shares Outstanding - Diluted 33,303 32,615 (1) The financial information presented includes the consolidated financial information of Barnes & Noble Education for the three months ended July 31, 2026 and 2025. For purposes of these consolidated financial statements, the results of Barnes & Noble Education herein have been aligned to the Company’s reporting periods. (1)
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Immersion Corporation Reconciliation of GAAP Operating Expenses to Non-GAAP Operating Expenses (In thousands) (Unaudited) Three Months Ended July 31, 2026 2025 GAAP Operating expenses $ 80,366 $ 84,793 Adjustments to GAAP Operating expenses: Stock-based compensation (2,038) (4,478) Depreciation and amortization expense (10,204) (10,397) Other (income) expense 652 (2,896) Incremental operating costs incurred due to BNED acquisition (71) (48) Other nonrecurring charges (14) (33) Non-GAAP Operating expense $ 68,691 $ 66,941 (1) The financial information presented includes the consolidated financial information of Barnes & Noble Education for the three months ended July 31, 2026 and 2025. For purposes of these consolidated financial statements, the results of Barnes & Noble Education herein have been aligned to the Company’s reporting periods. Investor Contact: J. Michael Dodson Immersion Corporation mdodson@immersion.com (1)