Exhibit 99.1 Immersion Corporation Reports Second Quarter 2024 Results GAAP Net Income Attributable to Immersion stockholders of $28.9 million or $0.89 per diluted share Non-GAAP Net Income Attributable to Immersion stockholders of $37.0 million or $1.14 per diluted share AVENTURA FL, August 20, 2024 – Immersion Corporation ("Immersion", the "Company", "we", "us" or "our") (Nasdaq: IMMR), a leading provider of technologies for haptics, today reported financial results for the second quarter ended June 30, 2 ...

In the latest trading session, Immersion (IMMR) closed at $10.59, marking a -1.21% move from the previous day. This change lagged the S&P 500's 0.97% gain on the day. Elsewhere, the Dow saw an upswing of 0.58%, while the tech-heavy Nasdaq appreciated by 1.39%. The touch-based technology company's shares have seen a decrease of 11.7% over the last month, not keeping up with the Computer and Technology sector's loss of 5.36% and the S&P 500's loss of 1.85%. The upcoming earnings release of Immersion will be o ...

Revenue and Financial Performance - Immersion's total revenues for the three months ended June 30, 2024, were $99.4 million, compared to $6.98 million in the same period in 2023, representing a significant increase[170] - Immersion's royalty and license revenue for the three months ended June 30, 2024, was $52.4 million, up from $6.98 million in the same period in 2023, driven by a 3790% increase in fixed fee license revenue[173][175] - Barnes & Noble Education contributed $47.02 million in revenues for the three months ended June 30, 2024, following its acquisition by Immersion[170] - Immersion's operating income for the three months ended June 30, 2024, was $25.4 million, compared to $3.11 million in the same period in 2023[170] - Immersion's net income attributable to stockholders for the three months ended June 30, 2024, was $28.95 million, up from $7.03 million in the same period in 2023[170] - Fixed fee license revenue increased by $47.5 million in Q2 2024 compared to Q2 2023, primarily due to new mobility license agreements[175] - Per-unit royalty revenue decreased by $2.1 million (37%) in Q2 2024 compared to Q2 2023, driven by declines in mobility, gaming, and automotive royalties[175] - Net income for Q2 2024 was $20.9 million, a 198% increase compared to $7.0 million in Q2 2023[199] - Total revenue for the period from June 10, 2024, to June 30, 2024, was $47.0 million, consisting of $45.1 million in product and other sales and $1.9 million in rental income[194] - Operating loss for the period from June 10, 2024, to June 30, 2024, was $12.8 million, with total operating expenses of $19.0 million[194] Geographic Revenue Distribution - Geographically, 98% of Immersion's Q2 2024 revenue came from Asia, compared to 14% in Q2 2023[175] Patent Portfolio and Licensing - Immersion holds over 800 issued or pending patents worldwide as of June 30, 2024, covering a wide range of digital technologies[172] - Immersion Corporation entered into a Patent License Agreement with Xiaomi Group on June 12, 2024, resolving patent infringement litigation and licensing Immersion's patent portfolio[241] - Immersion Corporation filed a patent infringement complaint against Valve Corporation on May 15, 2023, alleging infringement of seven patents related to haptic effects in AR/VR systems[246] - Valve filed multiple inter partes reviews (IPRs) targeting U.S. patents, with decisions on institution granted between July and August 2024, and responses due by October 2024[247] - The Court granted Valve's motion to stay the district court case pending the PTAB's decisions on the IPRs, with the motion to dismiss struck but allowed to refile later[248] - The company entered into a Patent License Agreement with Xiaomi Group on June 12, 2024, resolving patent infringement litigation and granting Xiaomi a non-exclusive license to use the company's patent portfolio[241] - The company filed a patent infringement lawsuit against Valve Corporation on May 15, 2023, alleging infringement of seven patents related to haptic effects in AR/VR systems and video game systems[246] - Valve filed multiple inter partes reviews (IPRs) challenging the validity of the company's patents, with decisions on institution granted between July 24, 2024, and August 13, 2024[247] Expenses and Costs - Immersion's selling and administrative expenses increased by 266% to $14.18 million in Q2 2024 compared to Q2 2023[173] - Selling and administrative expenses increased by $10.3 million (266%) in Q2 2024 compared to Q2 2023, driven by a $5.7 million increase in legal costs and a $4.9 million increase in compensation and benefits[178] - Selling and administrative expenses increased by $33.7 million (539%) in the first half of 2024 compared to the same period in 2023, primarily due to a $26.5 million increase in legal costs and a $7.6 million increase in compensation and benefits[179] - Interest and other income (loss), net decreased by $2.2 million in Q2 2024 compared to Q2 2023, primarily due to a $2.7 million decrease in net gains from marketable equity securities and derivative instruments[200] - Provision for income taxes increased by 188% in Q2 2024 compared to Q2 2023, driven by higher taxable income[199] - Provision for income taxes for the three months ended June 30, 2024 was primarily driven by higher U.S. taxable income due to increased U.S. passive income[202] - Unrecognized tax benefits under ASC 740 Income Taxes totaled approximately $7.6 million as of June 30, 2024, with $4.9 million potentially payable in cash[203] - Barnes & Noble Education recorded an income tax provision of $0.1 million on a pre-tax loss of $76.3 million, resulting in an effective income tax rate of (0.1)%[204] Cash Flow and Investments - Cash, cash equivalents, and investments-current totaled $133.4 million as of June 30, 2024, a decrease of $27.0 million from December 31, 2023[207] - Net cash used in operating activities was $56.0 million for the six months ended June 30, 2024, a $64.8 million decrease compared to the same period in 2023[208] - Net cash used in investing activities was $31.4 million for the six months ended June 30, 2024, primarily due to $87.4 million in cash used for marketable securities and derivative settlements[209] - Net cash provided by financing activities was $81.8 million for the six months ended June 30, 2024, mainly from $101.5 million in proceeds from borrowing under Barnes & Noble Education's credit facility[211] Barnes & Noble Education Operations - Barnes & Noble Education operates 1,163 physical, virtual, and custom bookstores, serving over 5.8 million students[181] - Barnes & Noble Education's BNC First Day programs provide course materials at below-market rates, with First Day Complete driving substantially greater unit sales and sell-through[185][188] - Barnes & Noble Education expects to expand e-commerce capabilities and accelerate growth through its relationship with Fanatics and Lids, focusing on improving the student and customer experience[183] - Barnes & Noble Education's goodwill from acquisition was $14.2 million, with intangible assets including trade names and customer relationships valued at $95.0 million[219] - Revenue from digital textbooks is recognized when the customer accesses the digital content, with a software feature embedded to restrict access after the term expires[224] - Revenue from physical textbook rentals is deferred and recognized over the rental period, typically a single semester, with a buyout option available at the end of the rental period[225] - Revenue recognition for BNC First Day offerings is consistent with Barnes & Noble Education's policies, with cash collection timing shifting due to school adoption and drop/add dates, particularly impacting the third quarter[226] - Barnes & Noble Education estimates returns based on historical experience, with provisions for anticipated merchandise returns reducing sales and cost of goods sold in the period sales are recorded[227] - Logo general merchandise sales fulfillment transitioned to Lids and Fanatics in April 2021, with commission revenue recognized on a net basis[229] - Merchandise inventories are stated at the lower of cost or market, with cost determined primarily by the retail inventory method and textbook inventories valued using the LIFO method[230] - Reserves for non-returnable inventory are based on historical liquidation data, with calculations sensitive to assumptions like markdowns, sales below cost, and inventory aging[231] - Physical bookstore inventory shortage rates are estimated and accrued based on historical rates, with potential material impacts if estimates are incorrect[232] - Textbook rental inventories are amortized over the rental period, with amortization expense included in cost of goods sold and potential material impacts if residual value estimates are incorrect[233] - Barnes & Noble Education completed a business combination with Barnes & Noble Education on June 10, 2024, and is integrating internal controls over financial reporting[237] - Barnes & Noble Education's four largest retail suppliers accounted for approximately 28% of its merchandise purchased in fiscal 2024, with the largest supplier contributing 7%[252] - Barnes & Noble Education's wholesale business sources over 95% of its inventory from two primary channels: 55% from third-party suppliers and 40% from retail bookstores[252] - Barnes & Noble Education does not have long-term arrangements with most suppliers, which could lead to disruptions in merchandise availability due to supplier bankruptcies or liquidity constraints[253] - Political or financial instability, trade restrictions, and other factors related to foreign trade could disrupt Barnes & Noble Education's supply of foreign-sourced merchandise[254] - The company completed the acquisition of approximately 42.0% of Barnes & Noble Education's common stock on June 10, 2024, which may expose it to additional compliance costs and resource allocation challenges[251] - The company is currently assessing and integrating Barnes & Noble Education's internal controls over financial reporting, with no material changes reported during the quarter ended June 30, 2024[237] Stock Repurchase and Shareholder Information - The company repurchased 1,217,774 shares of its common stock for $8.3 million at an average price of $6.77 per share in 2023, with $41.7 million remaining available for repurchase as of June 30, 2024[257] - The Board approved an amendment to extend the expiration date of the December 2022 Stock Repurchase Program to December 29, 2024[256] - The company repurchased 1,217,774 shares of its common stock for $8.3 million in 2023 at an average price of $6.77 per share, with $41.7 million remaining under the stock repurchase program as of June 30, 2024[257] Legal and Tax Matters - The company provided a provisional deposit of KRW 5,916,845,454 (approximately $5.0 million) to LG Electronics (LGE) in 2020 related to withholding tax disputes for the period 2012-2014[242] - The Korea Administrative Court ruled in favor of the company on June 8, 2023, canceling withholding taxes and penalties imposed on LGE for the 2012-2017 period, but the Korean tax authorities appealed the decision[243] - The company provided a provisional deposit of KRW 3,024,877,044 (approximately $2.3 million) to LGE in 2023 related to withholding tax disputes for the period 2018-2022[244] - The company acquired approximately 42.0% of Barnes & Noble Education's common stock on June 10, 2024, incurring significant legal and accounting expenses as a public company[251] Corporate Governance and Compliance - Amended and Restated Bylaws of Immersion Corporation effective as of August 12, 2022[260] - Amended and Restated Certificate of Incorporation of Immersion Corporation[260] - Certificate of Designation of the Powers, Preferences and Rights of Series A Redeemable Convertible Preferred Stock[260] - Amended and Restated Certificate of Designations of Series B Participating Preferred Stock of Immersion Corporation[260] - Standby, Securities Purchase and Debt Conversion Agreement dated as of April 16, 2024[260] - Certification of Eric Singer, Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002[260] - Certification of J. Michael Dodson, Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002[260] - Certification of Eric Singer, Chief Executive Officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002[260] - Certification of J. Michael Dodson, Chief Financial Officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002[260] - Inline XBRL Report Instance Document[260]

Immersion Corporation (IMMR) is expected to report second-quarter 2024 results on Aug 9. The Zacks Consensus Estimate for the top line is pegged at $7.29 million, which indicates a year-over-year improvement of 4.4%. The consensus mark for earnings has been revised upward by 35 cents to 50 cents per share over the past 60 days, which implies a surge of 138.1% from the year-ago quarter's 15 cents. The developer and licensor of touch feedback technology, also known as haptic technology, has a decent earnings ...

Immersion (IMMR) shares soared 7.7% in the last trading session to close at $11.54. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.9% gain over the past four weeks. For Immersion, the consensus EPS estimate for the quarter has been revised 4.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on IMMR go ...

Georgijevic/E+ via Getty Images Trying to keep a diverse portfolio sometimes means looking outside of the traditional box. This is particularly true if you're trying to tailor your portfolio toward one specific strategy, like value stocks. If you're not careful, it can be easy to be too overexposed to a single industry and very vulnerable to a market change. Today we'll be looking at Immersion Corp (NASDAQ:IMMR), a company which uses its patents and expertise to license haptic technology. We'll be consideri ...

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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Immersion (IMMR) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question. Immersion is a member of the Computer and Technology sector. This group includes 618 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sect ...

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