XML 24 R17.htm IDEA: XBRL DOCUMENT
v3.26.1

INVESTMENTS AND FAIR VALUE MEASUREMENTS | 3 Months Ended
--- | ---
Jul. 31, 2025
INVESTMENTS AND FAIR VALUE MEASUREMENTS |
INVESTMENTS AND FAIR VALUE MEASUREMENTS | 7. ﻿INVESTMENTS AND FAIR VALUE MEASUREMENTS Immersion invests surplus funds in excess of operational requirements in a diversified portfolio of marketable securities, with the objectives of delivering competitive returns, maintaining a high degree of liquidity, and seeking to avoid the permanent impairment of principal. The following summarizes our investments in marketable-equity and debt securities as of July 31, 2025 and April 30, 2025 (in thousands):
Investments - current |  | July 31, 2025 |  |  | April 30, 2025 |
Marketable equity securities |  | $ | 61,305 |  |  | $ | 55,784 |
U.S. treasury securities |  |  | 16,046 |  |  |  | 33,005 |
Total Investments – current |  | $ | 77,351 |  |  | $ | 88,789 |
Investments - noncurrent |  | July 31, 2025 |  |  | April 30, 2025 |
Corporate bonds |  | $ | 13,876 |  |  | $ | 13,880 |
Total Investments – noncurrent |  | $ | 13,876 |  |  | $ | 13,880 |
Marketable Securities Marketable securities as of July 31, 2025 and April 30, 2025 consisted of the following (in thousands):
|  | July 31, 2025 |
|  | Cost or Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Marketable equity securities |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | $ | 67,956 |  |  | $ | 6,659 |  |  | $ | (13,310 | ) |  | $ | 61,305 |
Marketable debt securities |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  |  | 15,907 |  |  |  | 139 |  |  |  | — |  |  |  | 16,046 |
Corporate bonds |  |  | 13,787 |  |  |  | 162 |  |  |  | (73 | ) |  |  | 13,876 |
Total marketable debt securities |  |  | 29,694 |  |  |  | 301 |  |  |  | (73 | ) |  |  | 29,922 |
|  | $ | 97,650 |  |  | $ | 6,960 |  |  | $ | (13,383 | ) |  | $ | 91,227 |
|  | April 30, 2025 |
|  | Cost or Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Marketable equity securities |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | $ | 63,677 |  |  | $ | 6,892 |  |  | $ | (14,785 | ) |  | $ | 55,784 |
Marketable debt securities |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  |  | 32,674 |  |  |  | 331 |  |  |  | — |  |  |  | 33,005 |
Corporate bonds |  |  | 13,802 |  |  |  | 147 |  |  |  | (69 | ) |  |  | 13,880 |
Total marketable debt securities |  |  | 46,476 |  |  |  | 478 |  |  |  | (69 | ) |  |  | 46,885 |
|  | $ | 110,153 |  |  | $ | 7,370 |  |  | $ | (14,854 | ) |  | $ | 102,669 |
The following summarizes Immersion’s amortized costs and fair value of our marketable securities, by contractual maturity, as of July 31, 2025 (in thousands):
|  | July 31, 2025 |
|  | Amortized Cost |  |  | Fair Value |
Less than 1 year |  | $ | 15,907 |  |  | $ | 16,046 |
1 to 5 years |  |  | 13,787 |  |  |  | 13,876 |
More than 5 years |  |  | — |  |  |  | — |
Total |  | $ | 29,694 |  |  | $ | 29,922 |
As of July 31, 2025, the fair value of corporate bonds with unrealized loss positions was $10.6 million, with an aggregated loss of $0.1 million. There were no U.S. treasury securities with an unrealized loss position at July 31, 2025. As of April 30, 2025, the fair value of available-for-sale debt securities in unrealized loss positions for corporate bonds were $10.6 million , with an aggregated loss of $0.1 million. There were no U.S. treasury securities with an unrealized loss position at April 30, 2025. For all available-for-sale debt securities that were in unrealized loss positions, we have determined that it is more likely than not we will hold the securities until maturity or a recovery of the cost basis. We had no credit-related impairment loss as of July 31, 2025 and April 30, 2025. Derivative Financial Instruments Immersion’s derivative instruments consisted of call and put options sold at their fair value as of the balance sheet date. These derivative instruments are reported as Other current liabilities on our Condensed Consolidated Balance Sheets as of July 31, 2025 and April 30, 2025 (in thousands):
|  | July 31, 2025 |
|  | Cost |  |  | Unrealized (Gains) Losses |  |  | Fair Value |
Derivative instruments |  | $ | 4,406 |  |  | $ | 1,133 |  |  | $ | 5,539 |
|  | $ | 4,406 |  |  | $ | 1,133 |  |  | $ | 5,539 |
|  | April 30, 2025 |
|  | Cost |  |  | Unrealized (Gains) Losses |  |  | Fair Value |
Derivative instruments |  | $ | 6,045 |  |  | $ | 3,709 |  |  | $ | 9,754 |
|  | $ | 6,045 |  |  | $ | 3,709 |  |  | $ | 9,754 |
The following summarizes the realized and unrealized gains and losses from Immersion’s equity securities and derivative instruments and realized gains and losses from Immersion’s marketable debt securities are as follows (in thousands):
| Three Months Ended July 31, |
| 2025 |  | 2024 |
Net unrealized gains (losses) recognized on marketable equity securities | $ | 1,243 |  | $ | 1,630 |
Net realized gains recognized on marketable equity securities |  | 960 |  |  | 3,108 |
Net unrealized gains (losses) recognized on derivative instruments |  | 2,577 |  |  | (525 | )
Net realized gains recognized on derivative instruments |  | 1,205 |  |  | 2,596 |
Net realized gains recognized on marketable debt securities |  | — |  |  | 1,273 |
Total net gains recognized in interest and other income (loss), net | $ | 5,985 |  | $ | 8,082 |
Fair Value Measurements The fair value of certain financial instruments including Cash and cash equivalents; Accounts receivable, net; Accounts payable; and Accrued liabilities approximate their carrying value due to their short-term nature and are classified within Level 1. The fair value of our Long-term borrowings approximates its carrying value and is classified as Level 2, as it is estimated using observable market inputs such as current interest rates and credit spreads for similar instruments. Our financial instruments measured at fair value on a recurring basis consisted of U.S. treasury securities, equity securities, corporate bonds, and derivatives. Equity securities and certain derivative instruments are classified within Level 1 of the fair value hierarchy as they are valued based on quoted market price in an active market. U.S. treasury securities, corporate bonds, and certain derivative instruments are valued based on quoted prices in markets that are less active, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency are generally classified within Level 2 of the fair value hierarchy. Financial instruments valued based on unobservable inputs, which reflect the reporting entity’s own assumptions or data that market participants would use in valuing an instrument, are generally classified within Level 3 of the fair value hierarchy. See Note 11. Participation Interest Purchase Agreement for fair value information about Barnes & Noble Education’s derivative instrument held as of July 31, 2025 and April 30, 2025, that is fair valued using Level 3 inputs. Financial instruments measured at fair value on a recurring basis as of July 31, 2025 and April 30, 2025 are classified based on the valuation technique in the table below (in thousands):
|  | July 31, 2025 |  |  |  |
|  | Fair Value Measurements Using |  |  |  |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Money Market funds (within cash and cash equivalents) |  | $ | 68,635 |  |  | $ | — |  |  | $ | — |  |  | $ | 68,635 |
U.S. treasury securities |  |  | — |  |  |  | 16,046 |  |  |  | — |  |  |  | 16,046 |
Equity securities |  |  | 61,305 |  |  |  | — |  |  |  | — |  |  |  | 61,305 |
Corporate bonds |  |  | — |  |  |  | 13,876 |  |  |  | — |  |  |  | 13,876 |
Total assets at fair value |  | $ | 129,940 |  |  | $ | 29,922 |  |  | $ | — |  |  | $ | 159,862 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments |  | $ | 3,697 |  |  | $ | 1,842 |  |  | $ | — |  |  | $ | 5,539 |
Total liabilities at fair value |  | $ | 3,697 |  |  | $ | 1,842 |  |  | $ | — |  |  | $ | 5,539 |
|  | April 30, 2025 |  |  |  |
|  | Fair Value Measurements Using |  |  |  |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Money Market funds (within cash and cash equivalents) |  | $ | 59,747 |  |  | $ | — |  |  | $ | — |  |  | $ | 59,747 |
U.S. treasury securities |  |  | - |  |  |  | 33,005 |  |  |  | — |  |  |  | 33,005 |
Equity securities |  |  | 55,784 |  |  |  | — |  |  |  | — |  |  |  | 55,784 |
Corporate bonds |  |  | 3,272 |  |  |  | 10,608 |  |  |  | — |  |  |  | 13,880 |
Total assets at fair value |  | $ | 118,803 |  |  | $ | 43,613 |  |  | $ | — |  |  | $ | 162,416 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments |  | $ | 6,456 |  |  | $ | 3,298 |  |  | $ | — |  |  | $ | 9,754 |
Total liabilities at fair value |  | $ | 6,456 |  |  | $ | 3,298 |  |  | $ | — |  |  | $ | 9,754 |

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

X
- Definition The entire disclosure of investments and fair value measurements. + References No definition available. + Details
Name: | immr_InvestmentsAndFairValueMeasurementsDisclosureTextBlock
Namespace Prefix: | immr_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration