Immersion Corporation reported significant financial results for the three and nine months ended January 31, 2025, following its acquisition of Barnes & Noble Education, which has been included in its consolidated financial statements since June 10, 2024. The company generated total revenues of $474.8 million for the quarter, a substantial increase from $9.5 million in the same period last year. This growth was primarily driven by Barnes & Noble Education's contributions, which accounted for $466.3 million of the total revenue, while Immersion's royalty and license revenue decreased to $8.4 million from $9.5 million in the previous quarter. For the nine months ended January 31, 2025, total revenues reached $1.3 billion, compared to $23.5 million in the prior year.
The financial performance reflects a notable shift in the company's operations, with the acquisition of Barnes & Noble Education significantly impacting revenue streams. The cost of sales for the quarter was $368.9 million, leading to an operating income of $26.2 million, compared to an operating loss of $6.5 million in the previous quarter. The net income attributable to Immersion stockholders was $15.5 million, or $0.48 per share, a marked improvement from $2.7 million, or $0.08 per share, in the prior quarter.
Operationally, Immersion's acquisition of Barnes & Noble Education has expanded its market presence, with the latter operating 1,164 physical and virtual bookstores across the U.S. The integration of Barnes & Noble Education has also diversified Immersion's offerings, particularly in the education sector, where it aims to enhance student experiences through affordable access programs. The company reported a significant increase in selling and administrative expenses, which rose to $79.6 million, largely due to higher personnel costs and legal expenses associated with the acquisition.
Looking ahead, Immersion anticipates continued growth driven by the expansion of its educational offerings and the scaling of its BNC First Day affordable access programs. The company is focused on enhancing its e-commerce capabilities and leveraging its partnerships with service providers to drive revenue growth. As of January 31, 2025, Immersion's cash and cash equivalents totaled $68.5 million, with total assets amounting to $1.37 billion, reflecting the impact of the acquisition. The company remains optimistic about its future performance, supported by its strategic initiatives and the integration of Barnes & Noble Education into its operations.
About IMMERSION CORP
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