Immersion (IMMR) Q1 2026 earnings summary

Executive summary

• Report covers the quarter ended July 31, 2025, including consolidated results for Immersion and Barnes & Noble Education following the June 2024 acquisition.

• Immersion focuses on IP licensing for haptics, while Barnes & Noble Education operates campus bookstores and related services.

Financial highlights

• Total revenues were $288.2 million, up from $135.1 million in the comparable prior period, driven by Barnes & Noble Education's full-quarter consolidation and growth in BNC First Day programs.

• Net loss was $13.7 million, compared to net income of $12.2 million in the prior year.

• Immersion's royalty and license revenue dropped 92% year-over-year to $3.9 million, mainly due to non-recurring perpetual license agreements in the prior year.

• Barnes & Noble Education contributed $274.2 million in product and other sales and $14.0 million in rental income.

• Operating loss was $26.4 million, compared to operating income of $13.6 million in the prior year.

• Cash, cash equivalents, and investments-current totaled $167.5 million as of July 31, 2025.

Outlook and guidance

• Management expects continued seasonality in Barnes & Noble Education, with stronger results in the second and third fiscal quarters.

• No specific forward guidance provided; management highlights ongoing risks and uncertainties.