IMMERSION CORP
IMMR · Computer Peripheral Equipment, NEC · 33.1M shares · +3%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $5M (gross $8M, SBC $3M)
Reference price $6.54 · est. market cap ~$216M — last insider sale, 2026-06-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C58Haptics-licensing company with high-margin royalties but heavy investing cash outflows and an unusual investment-holding profile.
Strengths
- High-margin licensing and strong returns — ROE 21.6% (82nd), revenue +22.4%
- Adequate liquidity — current ratio 2.38 (66th)
Risks
- Negative free cash flow from investing — FCF -$68.8M (7th) tied to equity investments (e.g., BNED stake)
- Earnings decline — net income -21.5%
- Activist/investment-holding strategy adds complexity and volatility — per 10-K
Notable findings
- Cash burnNegative free cash flow (-68.8M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $175M cash & investments, ~10 quarters of runway
- Revenue declineRevenue -20.3% YoY
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, FMR LLC, GOLDMAN SACHS GROUP INC +1 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
7.6%
Net margin
4.1%
Return on equity
21.6%
Return on assets
5.8%
ROIC
23.2%
Revenue growth (QoQ)
-20.3%
Debt / equity
0.3×
Net debt / EBITDA
-0.5×
Current ratio
2.4×
Free cash flow
-$69M
EBITDA
$153M
Tangible book value
$298M
Cash & investments
$175M
Cash runway
10q
Stock comp / revenue
0.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-12 | DODSON J MICHAEL | Sell | 4.9K | $6.54 |
| 2026-04-30 | MARTIN WILLIAM C | Grant | 7.4K | — |
| 2026-04-30 | MARTIN WILLIAM C | Grant | 18K | — |
| 2026-04-06 | Nader Elias | Grant | 22K | — |
| 2026-04-06 | HOFFMAN EMILY | Grant | 22K | — |
| 2026-04-06 | Wasch Childress Frederick | Grant | 22K | — |
| 2026-04-01 | Singer Eric | Tax withheld | 15K | $5.56 |
| 2026-04-01 | Singer Eric | Tax withheld | 15K | $5.56 |
| 2026-01-30 | MARTIN WILLIAM C | Grant | 6.6K | — |
| 2026-01-03 | Singer Eric | Tax withheld | 12K | $6.41 |
| 2026-01-02 | Singer Eric | Tax withheld | 38K | $6.41 |
| 2026-01-02 | Singer Eric | Grant | 300K | — |
| 2026-01-01 | Singer Eric | Tax withheld | 15K | $6.80 |
| 2025-11-14 | MARTIN WILLIAM C | Grant | 18K | — |
| 2025-10-31 | MARTIN WILLIAM C | Grant | 8.0K | — |
| 2025-10-03 | Singer Eric | Tax withheld | 13K | $7.04 |
| 2025-10-01 | Singer Eric | Tax withheld | 15K | $7.28 |
| 2025-07-31 | MARTIN WILLIAM C | Grant | 7.1K | — |
| 2025-07-03 | Singer Eric | Tax withheld | 13K | $8.09 |
| 2025-07-01 | Singer Eric | Tax withheld | 98K | $7.91 |
| 2025-07-01 | MARTIN WILLIAM C | Tax withheld | 68K | $7.91 |
| 2025-07-01 | Singer Eric | Tax withheld | 15K | $7.91 |
| 2025-06-12 | DODSON J MICHAEL | Sell | 5.9K | $7.53 |
| 2025-05-02 | MARTIN WILLIAM C | Grant | 10K | — |
| 2025-04-30 | MARTIN WILLIAM C | Grant | 6.0K | — |
| 2025-04-03 | Singer Eric | Tax withheld | 13K | $7.12 |
| 2025-04-01 | Singer Eric | Tax withheld | 15K | $7.74 |
| 2025-04-01 | Singer Eric | Tax withheld | 59K | $7.74 |
| 2025-04-01 | MARTIN WILLIAM C | Tax withheld | 46K | $7.74 |
| 2025-03-21 | Singer Eric | Buy | 5.0K | $7.47 |
| 2025-03-20 | Singer Eric | Buy | 43K | $7.51 |
| 2025-03-20 | MARTIN WILLIAM C | Buy | 27K | $7.55 |
| 2025-01-31 | MARTIN WILLIAM C | Grant | 87K | — |
| 2025-01-03 | Singer Eric | Tax withheld | 13K | $8.97 |
| 2025-01-02 | Singer Eric | Tax withheld | 35K | $8.66 |
| 2025-01-02 | Singer Eric | Grant | 300K | — |
| 2025-01-01 | MARTIN WILLIAM C | Tax withheld | 7.7K | $8.73 |
| 2025-01-01 | Singer Eric | Tax withheld | 7.1K | $8.73 |
| 2025-01-01 | Singer Eric | Tax withheld | 6.1K | $8.73 |
| 2025-01-01 | MARTIN WILLIAM C | Tax withheld | 8.8K | $8.73 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-15 | Other | filing ↗ |
| 2026-04-24 | Other | filing ↗ |
| 2026-04-08 | Shareholder vote | filing ↗ |
| 2026-03-27 | Delisting noticeReg FDOtherExhibits | filing ↗ |
| 2026-03-12 | Other | filing ↗ |
| 2026-02-13 | Delisting noticeReg FDExhibits | filing ↗ |
| 2025-12-29 | Delisting noticeExhibits | filing ↗ |
| 2025-12-08 | Material agreement3.03Exhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-15 | 2026-05-14 | 0001193125-26-225412 ↗ |
| 10-Q | 2026-05-04 | 2026-01-31 | 0001193125-26-201951 ↗ |
| 8-K | 2026-04-24 | 2026-04-23 | 0001193125-26-175250 ↗ |
| 10-Q | 2026-04-14 | 2025-10-31 | 0001193125-26-153417 ↗ |
| 8-K | 2026-04-08 | 2026-04-06 | 0001193125-26-147710 ↗ |
| 8-K | 2026-03-27 | 2026-03-24 | 0001193125-26-129204 ↗ |
| 10-Q | 2026-03-26 | 2025-07-31 | 0001193125-26-124580 ↗ |
| 10-K/A | 2026-03-13 | 2025-04-30 | 0001193125-26-106305 ↗ |
| 10-K | 2026-03-12 | 2025-04-30 | 0001193125-26-102681 ↗ |
| 8-K | 2026-03-12 | 2026-03-12 | 0001193125-26-103330 ↗ |
| 8-K | 2026-02-13 | 2026-02-10 | 0001193125-26-051369 ↗ |
| 8-K | 2025-12-29 | 2025-12-23 | 0001193125-25-332643 ↗ |