IMMERSION CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data IMMERSION CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2025	FY2026
Revenue	57.1	35	111	36	30.5	35.1	38.5	33.9	1,556	1,731
Cost of revenue	0.2	0.2	0.22	0.17	0.17	0.09	0
Gross profit	56.9	34.8	111	35.8	30.3	35	38.5
Research and development	13.4	11.8	9.73	7.84	5.01	4.15	1.38	0.28
Selling and marketing	14.6	13.5	6.12	6.43	5	3.24	1.22	1.75
General and administrative	44.2	53.3	41.8	43	18.1	9.84	11.4	14
Operating expenses			57.9				14	16	314	345
Operating income	-15.3	-45.4	53.1	-21.5	2.22	17.8	24.4	17.9	118	25.9
Interest expense								0	14.3	12.2
Other non-operating income	-0.06	0.27	1.63	0.09	0.67	-0.86	-0.29
Pre-tax income	-14.5	-44.8	54.7	-19.6	3.16	17.3	27	42.9	119	26
Income tax	25.5	0.48	0.39	0.47	-2.24	4.81	-3.7	8.94	25.7	16.8
Income from continuing operations	-40	-45.3	54.3
Net income to minority interests								0	29.3	4.69
Net income	-39.4	-45.3	54.3	-20	5.4	12.5	30.7	34	64.3	4.52
EBITDA	-14.4	-44.5	54	-19.3	4.15	18.5	24.6	18	153	68.5
EPS, basic	-1.37	-1.55	1.78	-0.64	0.19	0.40	0.92	1.05	1.94	0.14
EPS, diluted	-1.37	-1.55	1.73	-0.64	0.19	0.39	0.92	1.04	1.90	0.14
Shares, basic (weighted)	28.8	29.2	30.5	31.5	28.1	31.5	33.3	32.2	32.2	32.9
Shares, diluted (weighted)	28.8	29.2	31.4	31.5	28.5	31.8	33.5	32.5	33	33.1

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2025	FY2026
Cash and equivalents	56.9	24.6	111	86.5	59.5	51.5	48.8	56.1	72.6	138
Short-term investments	32.9	21.9	13.9	3.02	0	86.4	101	104	88.8	42.2
Receivables	1.08	0.46	0.65	2.97	1.62	1.24	1	1.74	101	119
Other current assets	2.88	0.74	9.86	0.02	0.17	0.19	0.1	0.19
Total current assets	94	48.1	136	107	74.4	153	160	172	632	675
Property, plant and equipment	4.02	3.15	2.34	1.23	0.21	0.44	0.29	0.21	95.8	68.2
Lease right-of-use assets			0	2.2	1.61	0.91	0.36	0.04
Goodwill								0	69.2	69.2
Intangible assets	0
Long-term investments					0	7.29	17	33.4	13.9	0
Other non-current assets			7.83	9.6	9	2.69	0.92	0.15
Total assets	104	52	146	125	96.1	176	190	216	1,102	1,052
Accounts payable	5.95	6.65	3.61	0.81	0.15	0	0.09	0.05
Accrued liabilities	4.75	4.13	3.95	2.84	1	0.56	2.03	3.13
Deferred revenue	5.91	4.42	4.59	4.69	5.17	4.83	4.77	4.24
Short-term debt									0	0
Total current liabilities	21	19.1	15.3	11.8	8.78	16.6	17.9	19.3	266	293
Long-term debt									103	71
Lease liabilities				2.66	1.68	0.55	0.06	0
Other non-current liabilities	1.01	0.92	0.79	3.32	2.04	0.9	1.86	4.93
Total liabilities	48.4	42.3	46.3	41.1	32.1	34.2	32.4	32.6	544	485
Total debt									103	71
Paid-in capital	221	228	246	253	259	323	323	322	374	380
Retained earnings	-119	-172	-98.5	-119	-113	-101	-70	-36	34.7	31.2
Treasury stock	-46.5	-46.9	-48.4	-51.1	-81.7	-81.7	-95.2	-105	-111	-114
Other comprehensive income	0.12	0.1	0.12	0.12	0.12	0.41	0.2	1.7	0.54	0.12
Shareholders' equity	55.3	9.66	99.7	83.8	64	141	158	183	298	297
Minority interests								0	261	270
Total equity	0.12	0.1	0.12	0.12	64	141	158	183	559	567
Total liabilities and equity	104	52	146	125	96.1	176	190	216	1,102	1,052
Shares outstanding	28.9	29.3	30.8	31.4	27	34.4	32.2	31.5	32.5	33.1

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2025	FY2026
Net income	-39.4	-45.3	54.3	-20	5.4	12.5	30.7	34	93.6	9.21
Depreciation and amortization	0.91	0.97	0.86	2.2	1.93	0.76	0.14	0.07	35.4	42.6
Stock-based compensation	6.11	6.1	8.69	5.46	4.76	2.34	3.42	3.4	13.7	10.8
Deferred income tax	24.3	0.03	0.06	0.28	-2.36	0.59	-5.1	3.53	0.81	1.05
Change in payables	5.32	0.7	-3.04	-2.82	-0.66	-0.15	0.08	-0.04	-189	7.71
Cash from operations	22	-43.8	69.9	-34.1	0.02	17.4	40.1	20.6	-57.6	59.1
Capital expenditures	-0.34	-0.13	-0.07	-0.15	-0.05	-0.34	-0.03	0	-11.2	-16.2
Acquisitions								0	-31.4	0
Purchases of investments	-32.8	-23.8	-17.7	-8.93	0	-109	-151	-177	-102	-62.7
Sales and maturities of investments	40	35	26	20	3	17.2	120	172	139	119
Cash from investing	7.84	11.1	8.24	10.9	2.95	-87.7	-29.4	3.4	3.38	51.5
Debt issued								0	836	813
Debt repaid								0	-834	-845
Stock issued	2.39	0.52	7.99	1.25	0	59.2	0.01	0.16	0
Share buybacks	-0.73	-0.33	0	-2.74	-30.6	0	-13.2	-8.26	-2.38	-0.01
Dividends paid							0	-7.41	-12.9	-8.05
Cash from financing	1.97	0.52	8.21	-1.33	-29.9	62.2	-13.4	-16.7	61	-44.8
Net change in cash	31.9	-32.2	86.4	-24.5	-27	-8.03	-2.67	7.25	6.75	65.8
Free cash flow	21.7	-44	69.9	-34.2	-0.03	17.1	40.1	20.6	-68.8	42.9
Interest paid								0	15.9	12.5
Income taxes paid	-0.42	0.19	0.15	0.16	0.07	0.09	1.41	1.79	16.5	20

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $7.28 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	1.9%	Operating income / revenue.
EBITDA margin	4.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	2.4%	Pre-tax income / revenue.
Net margin	0.6%	Net income / revenue.
FCF margin	3.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	4.5%	Cash from operations / revenue.
Effective tax rate	55.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	3.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.9%	Net income / average total assets.
Return on invested capital (ROIC)	20.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.9%	Capital expenditures / revenue.
D&A / revenue	2.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	11.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	255.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	124.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-78.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	2.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	63.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-55.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	40.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	75.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-93.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-47.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-3.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-92.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-46.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-5.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	13.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	385.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 3y	2.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	-0.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	23.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	36.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-4.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	76.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	61.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	3.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.14x	Current assets / current liabilities.
Quick ratio	0.55x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.55x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	52.5%	Total liabilities / total assets.
Interest coverage	2.89x	Operating income / interest expense.
Working capital	$431.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	5.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$229.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.47x	Revenue / average total assets.
FCF conversion	591.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	20.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.31	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$52.04	Revenue / diluted weighted shares.
FCF per share	$1.84	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.32	Cash from operations / diluted weighted shares.
Book value per share	$9.01	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$6.92	Tangible book value / shares outstanding.
Cash per share	$6.31	(Cash + short-term investments) / shares outstanding.
Payout ratio	102.4%	Dividends paid / net income, when net income is positive.
Dividends / FCF	17.3%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$241.6M	Share price x shares outstanding.
Enterprise value	$32.1M	Market cap + total debt - cash - short-term investments.
P/E	23.4x	Market cap / net income. Only when net income is positive.
P/S	0.14x	Market cap / revenue.
P/B	0.81x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.05x	Market cap / tangible book value, when positive.
P/FCF	3.95x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.13x	Market cap / cash from operations, when positive.
EV/Sales	0.02x	Enterprise value / revenue.
EV/EBIT	1.00x	Enterprise value / operating income, when both are positive.
EV/EBITDA	0.43x	Enterprise value / EBITDA, when both are positive.
EV/FCF	0.53x	Enterprise value / free cash flow, when both are positive.
FCF yield	25.3%	Free cash flow / market cap.
Earnings yield	4.3%	Net income / market cap (the inverse of P/E).
Dividend yield	4.4%	Dividends paid over the period / market cap.
Shareholder yield	4.4%	(Dividends paid + share buybacks) / market cap.

What was IMMERSION CORP's revenue in fiscal 2026?

IMMERSION CORP reported revenue of $1.73B for fiscal 2026, 11.2% higher than the year before.

Was IMMERSION CORP profitable in fiscal 2026?

Yes. Net income was $4.5M, a net margin of 0.3%.

How much free cash flow did IMMERSION CORP generate in fiscal 2026?

Cash from operations of $59.1M minus capital expenditures of $16.2M left free cash flow of $42.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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