Immersion (IMMR) investor relations material

Executive summary

• Reported Q4 2026 GAAP net income of $3.7M ($0.12/share) and non-GAAP net income of $9.9M ($0.30/share), reflecting a turnaround from prior year losses.

• Fiscal 2026 revenues reached $1.7B, up from $1.6B year-over-year, with full-year GAAP net income of $4.5M and non-GAAP net income of $60.8M.

• Consolidated results include Barnes & Noble Education (BNED) following acquisition of a controlling interest in June 2024.

Financial highlights

• Q4 2026 revenues were $270.0M, down from $284.9M year-over-year; full-year revenues increased to $1.7B from $1.6B.

• Q4 GAAP operating expenses decreased to $77.6M from $85.8M; non-GAAP operating expenses also declined.

• Full-year GAAP operating expenses rose to $345.4M, with non-GAAP operating expenses at $401.6M.

• Q4 GAAP net income improved to $3.7M from a loss of $17.7M; non-GAAP net income rose to $9.9M from a loss of $2.7M.

• Full-year GAAP net income dropped to $4.5M from $64.3M; non-GAAP net income fell to $60.8M from $116.3M.

Outlook and guidance

• Management remains focused on protecting IP, thoughtful capital allocation, and long-term shareholder value.

• Emphasis on regular and special dividends over aggressive share repurchases; $39.3M remains available for repurchases.

• Future dividends subject to board review and may be adjusted as needed.