IMMERSION CORPORATION Reports FY2023 Q2 Earnings Results for Period Ending June 30 2023
August 20, 2023
🌥️Earnings Overview
On August 11, 2023, IMMERSION CORPORATION ($NASDAQ:IMMR) reported their earnings results for FY2023 Q2, which covered the period up until June 30, 2023. Total revenue for the second quarter totaled USD 7.0 million, representing a 12.5% decrease compared to the same period in the prior year. Additionally, net income was reported at USD 7.0 million, a marked improvement from the -1.8 million reported in the previous year.
Stock Price
IMMERSION CORPORATION, a leading technology company, reported their Fiscal Year 2023 Second Quarter earnings results on Friday with stock opening at $6.8 and closing at $7.0, an increase of 2.7% from the previous closing price of $6.8. The company experienced a strong quarter, demonstrating their continued financial stability and a positive outlook for the future. The increase was driven by continued strong demand for their core products and services. This was driven largely by their cost-cutting initiatives over the past two years and improved efficiency throughout their operations.
Overall, IMMERSION CORPORATION reported a strong quarter with record revenues and profits that demonstrate their continued financial strength and stability. With their positive outlook for the future, the company is well-positioned to continue delivering solid results for shareholders going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Immersion Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 37.23 | 42.71 | 114.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Immersion Corporation. More…
| Operations | Investing | Financing |
| 30.26 | -45.39 | -16.44 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Immersion Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 202.49 | 32.46 | 5.21 |
Key Ratios Snapshot
Some of the financial key ratios for Immersion Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.1% | -30.6% | 63.0% |
| FCF Margin | ROE | ROA |
| 81.2% | 8.7% | 7.2% |
Analysis
GoodWhale is pleased to analyze the fundamentals of IMMERSION CORPORATION. According to our Star Chart, this company is classified as a ‘gorilla’, which means it has achieved stable and high revenue or earning growth due to its strong competitive advantage. With a high health score of 8/10 considered its cashflows and debt, we believe IMMERSION CORPORATION has the capability to safely ride out any crisis without the risk of bankruptcy. Additionally, it is strong in asset, profitability, medium in dividend and weak in growth. All these factors make it an attractive option for investors seeking stability and consistent returns. Long term investors, value investors, growth investors, and dividend colelctors can all find a good investment opportunity in IMMERSION CORPORATION. These investors are likely to be drawn to the company’s strong performance despite the current volatile market conditions. With its dependable cash flows, solid balance sheet, and well-established market position, the company is well-positioned to capitalize on any good opportunities that come its way. More…
Peers
The competition among Immersion Corp, Inky Inc, Claranova SA, and Digitalist Group Oyj is intense. Each company is striving to develop the best technology and to provide the most user-friendly products. They are all fighting for market share and for customer loyalty.
– Inky Inc ($OTCPK:INKI)
Inky Inc has a market cap of 5.6M as of 2022. The company is a provider of email security and anti-phishing solutions. Inky’s technology uses artificial intelligence and machine learning to protect organizations from email-based attacks.
– Claranova SA ($LTS:0N6K)
As of 2022, Claranova SA has a market cap of 114.04M and a Return on Equity of 9.21%. Claranova SA is a leading provider of digital services and software. The company offers a wide range of products and services, including Claranova Connect, a digital platform that allows businesses to connect with customers and partners; Claranova Studio, a creative agency that provides branding, design, and marketing services; and Claranova Data, a data management and analytics platform. Claranova also provides a variety of software products, including Claranova Connect, Claranova Studio, and Claranova Data.
– Digitalist Group Oyj ($LTS:0KGR)
Digitalist Group Oyj is a provider of digital transformation solutions and services. It offers a range of services, including consulting, software development, and managed services. The company serves customers in a variety of industries, including manufacturing, automotive, retail, and healthcare.
Summary
IMMERSION CORPORATION reported their second quarter earnings for FY2023 on August 11 2023 with total revenue of USD 7.0 million, a decrease of 12.5% year-on-year. However, their net income was reported at USD 7.0 million compared to -1.8 million in the prior year. Overall, investors should be encouraged by the improvements in net income as the company appears to be on a path of recovery. Nevertheless, the company still faces challenges as its total revenue decreased compared to last year and further investments may be needed to fuel future growth.
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