Saturday 7 November 2026
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Immersion Corporation
IMMR Technology Software Application
Immersion Corporation’s revenue for fiscal 2026 (year ended April 2026) was $1.7 billion, up 11.2% from fiscal 2025.
- Revenue
- +0.81%
- EPS
- +666.7%
- Free cash flow
- +27.9%
- Total debt
- −27.4%
Quarter to July 2026, against a year earlier
6.79
0.12
+1.80%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to April
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM Jul ’26 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 35 | 111 | 36 | 30 | 35 | 38 | 34 | — | 1,556 | 1,731 | 1,733 | +54.2% | 14 | — | — | (99.2%) | |
| Gross margin, % | 99.44 | 99.80 | 99.53 | 99.45 | 99.75 | 100.00 | 100.00 | — | 27.75 | 21.45 | 21.54 | (78.0) pt | ||||||
| EBT | (45) | 55 | (20) | 3 | 17 | 27 | 43 | — | 119 | 26 | 41 | n/m | ||||||
| EBT margin, % | (127.98) | 49.32 | (54.44) | 10.37 | 49.27 | 70.11 | 126.52 | — | 7.67 | 1.50 | 2.35 | +129.5 pt | ||||||
| Net income | (45) | 54 | (20) | 5 | 12 | 31 | 34 | — | 94 | 9 | 18 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 1.20 | 3.64 | 1.14 | 1.08 | 1.12 | 1.16 | 1.05 | — | 48.29 | 52.66 | 52.27 | +52.2% | |||||
| Earnings | (1.55) | 1.78 | (0.64) | 0.19 | 0.40 | 0.92 | 1.05 | — | 2.00 | 0.14 | 0.35 | n/m | ||||||
| Cash flow | (1.50) | 2.30 | (1.08) | 0.00 | 0.55 | 1.21 | 0.64 | — | (1.79) | 1.80 | 2.33 | n/m | ||||||
| Capex | 0.00 | 0.00 | 0.00 | 0.00 | (0.01) | 0.00 | 0.00 | — | (0.32) | (0.49) | (0.48) | +69.4% | ||||||
| Free cash flow | (1.51) | 2.29 | (1.09) | 0.00 | 0.54 | 1.21 | 0.64 | — | (2.11) | 1.30 | 1.84 | n/m | ||||||
| Book value | 0.33 | 3.27 | 2.66 | 2.28 | 4.49 | 4.74 | 5.68 | — | 17.34 | 17.27 | 16.87 | +55.2% | ||||||
| Shares, m | 29 | 30 | 32 | 28 | 31 | 33 | 32 | — | 32 | 33 | 33 | +1.3% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 4.85 | 0.00 | 50.27 | 14.29 | 8.08 | 6.80 | — | 3.67 | 40.87 | 19.34 | 14.3 | |||||
| P/S | 5.91 | 2.46 | 6.52 | 10.42 | 5.12 | 6.55 | 6.73 | — | 0.15 | 0.12 | 0.13 | 4.9 | ||||||
| P/B | 21.42 | 2.74 | 2.80 | 4.96 | 1.27 | 1.60 | 1.25 | — | 0.42 | 0.36 | 0.40 | 4.1 | ||||||
| EV/Sales | 4.58 | 1.33 | 4.10 | 8.52 | 1.20 | 2.66 | 2.01 | — | 0.11 | 0.05 | 0.08 | 2.7 | ||||||
| EV/FCF | (2.75) | 0.95 | (3.52) | (190.60) | 1.97 | 2.01 | 2.83 | — | (2.52) | 2.15 | 2.26 | (21.1) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (44) | 70 | (34) | 0 | 17 | 40 | 21 | — | (58) | 59 | 77 | n/m | |||||
| Capex | 0 | 0 | 0 | 0 | 0 | 0 | — | — | (10) | (16) | (16) | +71.7% | ||||||
| Free cash flow | (44) | 70 | (34) | 0 | 17 | 40 | 21 | — | (68) | 43 | 61 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 29 | 120 | 95 | 66 | 137 | 142 | 153 | — | 366 | 382 | 432 | +33.2% | |||||
| Net debt | (47) | (125) | (87) | (58) | (137) | (150) | (160) | — | (58) | (109) | (86) | +10.0% | ||||||
| Shareholders’ equity | 10 | 100 | 84 | 64 | 141 | 158 | 183 | — | 559 | 567 | 559 | +57.2% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (58.16) | 54.90 | (14.80) | 4.89 | 9.19 | 16.77 | 16.74 | — | 9.51 | 0.42 | 0.85 | +58.6 pt | |||||
| ROIC | 0.00 | 0.00 | 0.00 | 22.61 | 283.11 | 190.35 | 49.27 | — | 14.74 | 3.54 | 4.26 | +3.5 pt | ||||||
| ROE | (139.36) | 99.42 | (21.86) | 7.31 | 12.16 | 20.51 | 19.94 | — | 16.89 | 0.80 | 1.87 | +140.2 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 81 | 64 | 56 | 54 | 26 | 20 | 14 | — | 8 | 8 | — | (22.7%) | |||||
| Revenue/emp, $m | 0.43 | 1.73 | 0.64 | 0.56 | 1.35 | 1.92 | 2.42 | — | 194.48 | 216.34 | — | +99.5% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Apr 2026 · latest quarter Jul 2026 · fundamentals updated 2 Nov 2026
Immersion Corporation vs peers in Software Application (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| AZ A2Z Cust2Mate Solutions Corp. | $255.4M | — (loss-making) | — (loss-making) | +408.97% (above 0%: growing) | n/m | −105.27% (below 0%: shrinking) | 42.55% | (128.56%) | Compare |
| RBBN Ribbon Communications Inc. | $247.3M | 12.3× | — (loss-making) | +1.55% (above 0%: growing) | n/m | −174.05% (below 0%: shrinking) | 48.25% | 2.56% | Compare |
| GLOO Gloo Holdings, Inc. | $247.1M | — (loss-making) | — (loss-making) | +187.97% (above 0%: growing) | n/m | +49.40% (above 0%: growing) | 36.02% | (44.02%) | Compare |
| SVCO Silvaco Group, Inc. | $228.1M | — (loss-making) | — (loss-making) | −12.74% (below 0%: shrinking) | n/m | +90.45% (above 0%: growing) | 83.99% | (26.33%) | Compare |
| KLTR Kaltura, Inc. | $225.8M | — (loss-making) | — (loss-making) | +5.47% (above 0%: growing) | n/m | −206.36% (below 0%: shrinking) | 73.65% | (1.65%) | Compare |
| IMMR Immersion Corporation | $221.5M | 19.3× | 26.5× | +0.81% (above 0%: growing) | n/m | +27.93% (above 0%: growing) | 20.51% | (6.79%) | |
| CURR Currenc Group Inc. | $208.8M | — (loss-making) | — (loss-making) | −21.81% (below 0%: shrinking) | n/m | +36.06% (above 0%: growing) | 42.74% | (46.55%) | Compare |
| EXFY Expensify, Inc. | $203.3M | — (loss-making) | — (loss-making) | −5.83% (below 0%: shrinking) | n/m | −200.52% (below 0%: shrinking) | 45.22% | (8.10%) | Compare |
| DMRC Digimarc Corporation | $199.3M | — (loss-making) | — (loss-making) | −7.77% (below 0%: shrinking) | n/m | +80.94% (above 0%: growing) | 58.20% | (167.35%) | Compare |
| Median of peers | $226.9M | — | — | −2.14% | — | −34.60% | 46.74% | (35.17%) |
Pay and ownership Proxy statement filed 28 August 2026
Ownership
Directors and executive officers, together
10.60%
Irrevocable Larson Family Investment Trust
7.10% of the votes
BlackRock, Inc.
6.70% of the votes
Eric Singer
5.50%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement