XML 23 R16.htm IDEA: XBRL DOCUMENT
v3.26.1

REVENUE RECOGNITION | 3 Months Ended
--- | ---
Jul. 31, 2025
REVENUE RECOGNITION |
REVENUE RECOGNITION | 6. REVENUE RECOGNITION Immersion Disaggregated Revenue The following table presents the disaggregation of Immersion’s revenue for the three months ended July 31, 2025 and 2024 (in thousands):
|  | Three Months Ended |
|  | July 31, 2025 |  |  | July 31, 2024 |
Fixed fee license revenue |  | $ | 736 |  |  | $ | 45,326 |
Per-unit royalty revenue |  |  | 3,136 |  |  |  | 3,099 |
Total royalty and license revenue |  | $ | 3,872 |  |  | $ | 48,425 |
Contract Assets As of July 31, 2025, we had contract assets of $8.1 million included within Prepaid expenses and other current assets and $20.5 million within Other assets – noncurrent on the Condensed Consolidated Balance Sheet. As of April 30, 2025, we had contract assets of $7.8 million included within Prepaid expenses and other current assets and $27.4 million within Other assets - noncurrent on the Condensed Consolidated Balance Sheet. Deferred Revenue The following table presents changes in deferred revenue associated with our contract liabilities (in thousands):
|  | July 31, 2025 |  |  | April 30, 2025 |
Deferred revenue beginning of the period |  | $ | 8,728 |  |  | $ | 20,472 |
Additions to deferred revenue during the period |  |  | - |  |  |  | 882 |
Reductions to deferred revenue for revenue recognized during the period |  |  | (736 | ) |  |  | (12,626 | )
Deferred revenue balance end of the period |  | $ | 7,992 |  |  | $ | 8,728 |
Based on contracts signed and payments received as of July 31, 2025, we expect to recognize $8.0 million in revenue under our fixed fee license agreements, which are satisfied over time, including $7.5 million over one to three years and $0.5 million over more than three years. Barnes & Noble Education Disaggregated Revenue The following table presents disaggregated the revenue associated with Barnes & Noble Education’s major products and service offerings (in thousands):
|  | Three Months Ended July 31, 2025 |  | From June 10, 2024 to July 31, 2024 |
Course material product sales |  | $ | 157,598 |  | $ | 68,153 |
General merchandise product sales (a) |  |  | 97,710 |  |  | 50,838 |
Services and other revenue (b) |  |  | 18,871 |  |  | 11,127 |
Total product and other revenue |  |  | 274,179 |  |  | 130,118 |
Course material rental income |  |  | 13,981 |  |  | 4,946 |
Total revenue |  | $ | 288,160 |  | $ | 135,064 |
a) Logo general merchandise sales are recognized on a net basis as commission revenue in the condensed consolidated financial statements. b) Service and other revenue primarily relates to brand partnership marketing and other service revenues. Deferred Revenue Contract Assets and Contract Liabilities Contract assets represent the sale of goods or services to a customer before Barnes & Noble Education has the right to obtain consideration from the customer. Contract assets consist of unbilled amounts at the reporting date and are transferred to accounts receivable when the rights become unconditional. Contract assets (unbilled receivables) were $0.3 million and $0.6 million for July 31, 2025 and April 30, 2025, respectively, on the Condensed Consolidated Balance Sheets. Contract liabilities represent an obligation to transfer goods or services to a customer for which Barnes & Noble Education has received consideration and consists of its deferred revenue liability (deferred revenue). Deferred revenue consists of the following: • advanced payments from customers related to textbook rental performance obligations, which are recognized ratably over the terms of the related rental period; • unsatisfied performance obligations associated with partnership marketing services, which are recognized when the contracted services are provided to Barnes & Noble Education’s partnership marketing customers; and • unsatisfied performance obligations associated with the premium paid for the sale of treasury shares, which are expected to be recognized over the term of the merchandising contracts for Fanatics and Lids. The following table presents changes in deferred revenue associated with Barnes & Noble Education's contract liabilities (in thousands):
|  | July 31, 2025 |  |  | April 30, 2025 |
Deferred revenue as of the beginning of the period |  | $ | 13,566 |  |  | $ | 11,044 |
Additions to deferred revenue during the period |  |  | 20,720 |  |  |  | 173,969 |
Reductions to deferred revenue for revenue recognized during the period |  |  | (18,824 | ) |  |  | (171,447 | )
Deferred revenue balance at the end of period |  | $ | 15,462 |  |  | $ | 13,566 |

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration