Immersion Corporation
IMMR Technology Software Application
In the quarter to July 2026, revenue was flat, EPS grew 666.7%, free cash flow grew 27.9% and total debt fell 27.4%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
Follow IMMR
Immersion Corporation (IMMR) Beneish M-score
Immersion Corporation's Beneish M-score for fiscal 2026 is −2.49; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
Embed this chart
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −2.49 | (1.27) |
| FY2023 | −1.22 | 1.72 |
| FY2022 | −2.94 | (0.64) |
| FY2021 | −2.30 | (0.07) |
| FY2020 | −2.22 | (8.02) |
| FY2019 | 5.80 | 5.92 |
| FY2018 | −0.13 | 3.61 |
| FY2017 | −3.74 | 1.94 |
| FY2016 | −5.68 | (2.54) |
| FY2015 | −3.13 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.06 | — | 0.97 | |
| Gross margin index | 1.29 | — | 0.68 | |
| Asset quality index | 0.86 | — | 0.35 | |
| Sales growth index | 1.11 | — | 0.99 | |
| Depreciation index | 0.70 | — | 0.08 | |
| SG&A index | 0.97 | — | −0.17 | |
| Total accruals to total assets | (0.05) | — | −0.22 | |
| Leverage index | 1.03 | — | −0.34 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.49 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| ALIT Alight, Inc. compare | −6.5× |
| EXFY Expensify, Inc. compare | −3.7× |
| SMRT SmartRent, Inc. compare | −3.2× |
| XPER Xperi Inc. compare | −2.8× |
| BLND Blend Labs, Inc. compare | −2.8× |
| RBBN Ribbon Communications Inc. compare | −2.5× |
| IMMR Immersion Corporation | −2.5× |
| SVCO Silvaco Group, Inc. compare | −2.2× |
| AZ A2Z Cust2Mate Solutions Corp. compare | −0.7× |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI