Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Immersion Corp.IMMR · business equipment | |
|---|---|
| Grade |  D/Eon the D/E boundary of 497 graded peers; percentile 78.8, sampling error 2.2 points; lower is stronger |
| Rank | 392 of 497 |
| Profitability | Dpercentile 68.3 |
| Solvency | Bpercentile 37.4 |
| Growth and financing | D/Epercentile 78.2 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $1.1B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | late filer · fortress balance sheetnot computable: dilution |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Jul 24, 202677 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $7.132026-10-08; market equity $236.8M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Jul 24, 2026; the document on sec.gov.
Immersion Corporation (the “Company”, “Immersion”, “we”, or “us”) was incorporated in 1993 in California and reincorporated in Delaware in 1999. In June 2024, Immersion acquired a controlling interest in Barnes & Noble Education, Inc., a Delaware corporation (“Barnes & Noble Education”). The financial results of Barnes & Noble Education have been included in our consolidated financial statements since the acquisition date of June 10, 2024. Following the closing of the Transactions (as defined below) with Barnes & Noble Education, we operate our business in two operating segments: Immersion and Barnes & Noble Education.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 68.3 | |||||||
| Gross profitability | not computable | 28.5% | |||||
| latest aligned inputs end 2022-12-31; latest annual assets end 2026-04-30 | |||||||
| Return on invested capital | 3.3% | [3-11] | 10.9% | 71.9 | 136 | 2026-04-30 | |
| Accruals ratio | (5.1%) | [1,12-14] | (7.4%) | 64.8 | 621 | 2026-04-30 | |
| Gross margin stability, five years | not computable | 2.4 pts | |||||
| latest aligned inputs end 2022-12-31; latest annual assets end 2026-04-30 | |||||||
| Solvency, sleeve percentile 37.4 | |||||||
| Twelve-month failure probability | 0.08% | 0.05% | 68.0 | 101 | 2026-07-31 | ||
| Altman Z double-prime | 3.29 | [1,5,8,15-18] | 2.18 | 33.5 | 566 | 2026-04-30 | |
| Net debt to EBITDA | (0.98x) | [3-5,19] | 1.11x | 6.2 | 147 | 2026-04-30 | |
| Interest coverage | not computable | 3.77x | |||||
| one or more required annual facts are missing | |||||||
| Current ratio | 2.30x | [15-16] | 2.02x | 41.8 | 666 | 2026-04-30 | |
| Growth and financing, sleeve percentile 78.2 | |||||||
| Revenue growth, three-year compound | not computable | 6.4% | |||||
| four consecutive annual observations are required | |||||||
| Free cash flow growth, three-year compound | not computable | 17.2% | |||||
| four consecutive annual FCF observations are required; found 14 | |||||||
| Reinvestment rate | (115.0%) | [5-7,15-16,19-22] | 14.3% | 78.2 | 226 | 2026-04-30 | |
| Asset growth, three years | not computable | 5.0% | |||||
| four consecutive annual observations are required | |||||||
| Net share issuance, one year | not computable | 0.5% | |||||
| prior share count is 133 days earlier | |||||||
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.228; sampling error 2.2 percentile points on 497 peers.
Among 497 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 387 | GoodRx Holdings, Inc. (GDRX) GoodRx Holdings, Inc. (GDRX) D/Eon the D/E boundary; percentile 77.8 Nasdaq · Services-Computer Processing & Data Preparation last close $3.38 No active warnings; 9 of 14 inputs | 77.8 | D/E | |
| 388 | Thermo Fisher Scientific Inc. (TMO) Thermo Fisher Scientific Inc. (TMO) D/Eon the D/E boundary; percentile 78.0 NYSE · Measuring & Controlling Devices, NEC market equity $241.1B; last close $651.89 No active warnings; 9 of 14 inputs | 78.0 | D/E | |
| 389 | Asure Software Inc. (ASUR) Asure Software Inc. (ASUR) D/Eon the D/E boundary; percentile 78.2 Nasdaq · Services-Computer Integrated Systems Design market equity $212.3M; last close $7.34 No active warnings; 8 of 14 inputs | 78.2 | D/E | |
| 390 | Clarivate plc (CLVT) Clarivate plc (CLVT) D/Eon the D/E boundary; percentile 78.4 NYSE · Services-Computer Processing & Data Preparation market equity $1.0B; last close $1.61 No active warnings; 10 of 14 inputs | 78.4 | D/E | |
| 391 | SmartRent, Inc. (SMRT) SmartRent, Inc. (SMRT) D/Eon the D/E boundary; percentile 78.6 NYSE · Services-Computer Integrated Systems Design market equity $222.3M; last close $1.17 No active warnings; 8 of 14 inputs | 78.6 | D/E | |
| 392 | Immersion Corp. (IMMR) Immersion Corp. (IMMR) D/Eon the D/E boundary; percentile 78.8 Nasdaq · Computer Peripheral Equipment, NEC market equity $237.1M; last close $7.13 Warnings: late filer, fortress balance sheet; 7 of 14 inputs | 78.8 | D/E | late filer, fortress balance sheet |
| 393 | Progress Software Corp. (PRGS) Progress Software Corp. (PRGS) D/Eon the D/E boundary; percentile 79.0 Nasdaq · Services-Prepackaged Software market equity $1.6B; last close $38.34 No active warnings; 10 of 14 inputs | 79.0 | D/E | |
| 394 | Maxlinear, Inc. (MXL) Maxlinear, Inc. (MXL) D/Eon the D/E boundary; percentile 79.2 Nasdaq · Semiconductors & Related Devices market equity $8.5B; last close $93.64 No active warnings; 9 of 14 inputs | 79.2 | D/E | |
| 395 | Creative Realities, Inc. (CREX) Creative Realities, Inc. (CREX) D/Eon the D/E boundary; percentile 79.4 Nasdaq · Services-Computer Integrated Systems Design market equity $32.1M; last close $2.42 Warnings: late filer; 8 of 14 inputs | 79.4 | D/E | late filer |
| 396 | GoDaddy Inc. (GDDY) GoDaddy Inc. (GDDY) D/Eon the D/E boundary; percentile 79.6 NYSE · Services-Computer Integrated Systems Design market equity $13.1B; last close $103.22 No active warnings; 7 of 14 inputs | 79.6 | D/E | |
| 397 | Blend Labs, Inc. (BLND) Blend Labs, Inc. (BLND) D/Eon the D/E boundary; percentile 79.8 NYSE · Services-Computer Programming, Data Processing, Etc. market equity $248.3M; last close $1.04 Warnings: fortress balance sheet; 7 of 14 inputs | 79.8 | D/E | fortress balance sheet |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | E | 82.3 | 2204 |
| sector peers, equal sleeves (the grade) | D/E | 78.8 | 497 |
| same exchange, equal sleeves | D/E | 80.2 | 1219 |
| sector peers, equal inputs | C/D | 59.5 | 497 |
Each letter is one fifth of the 497 graded peers, about 99 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 7.6% | 2.2% | 55 | hotter than 55 of 100 peers |
| Distance from 52-week high | (8.3%) | (30.0%) | 82 | closer to its high than 82 of 100 peers |
| EBIT to enterprise value | 19.4% | 1.5% | 99 | pricier than 1 of 100 peers |
| Free cash flow yield | 18.1% | 2.7% | 95 | pricier than 5 of 100 peers |
| Book value to price | 1.26 | 0.23 | 90 | pricier than 10 of 100 peers |
| Sales to price | 7.30 | 0.30 | 97 | pricier than 3 of 100 peers |
| Composite equity issuance, five years | (3.5%) | 3.9% | 36 | more equity-funded than 36 of 100 peers |
| Relative strength against the sector, log excess return | (0.21) | (0.26) | 55 | ahead of 55 of 100 peers |
Inputs: market equity $237.1M; EBIT $25.9M; free cash flow $42.9M; book equity $299.0M; sales $1.7B; debt $71.0M; cash $174.8M[23].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2026-04-30 | ||
|---|---|---|
| Return on assets above zero | 0.4% | ✓ pass[12,14] |
| Operating cash flow above zero | $59.1M | ✓ pass[13] |
| Return on assets improved | n/a[12,14,24] | |
| Operating cash flow exceeds net income | $54.5M | ✓ pass[12-13] |
| Long-term leverage fell | n/a[1,14,25-26] | |
| Current ratio improved | (7.5 pts) | ✗ fail[15-16,21-22] |
| No new shares issued | n/a[27-28] | |
| Gross margin improved | n/a | |
| Asset turnover improved | n/a[2,14,29] | |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $174.8M[30] |
| Operating cash flow, four quarters | $77.1M[13,30-34] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 4 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 25 |
| 10-Q received Sep 14, 2026 | |
| Median daily dollar volume | $2.8M |
| 63 sessions | |
| Days since newest grade input | 77 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $1.1B | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.7B | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $138.3M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 4 | total debt | us-gaap:LongTermDebt | $71.0M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 5 | operating income | us-gaap:OperatingIncomeLoss | $25.9M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 6 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $26.0M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 7 | income tax | us-gaap:IncomeTaxExpenseBenefit | $16.8M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 8 | book equity | us-gaap:StockholdersEquity | $297.2M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 9 | total debt | us-gaap:LongTermDebt | $103.1M | 2025-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 10 | book equity | us-gaap:StockholdersEquity | $298.1M | 2025-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 11 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $72.6M | 2025-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 12 | net income | us-gaap:NetIncomeLoss | $4.5M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 13 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $59.1M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 14 | assets | us-gaap:Assets | $1.1B | 2025-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $675.2M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $293.4M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | $31.2M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 18 | liabilities | us-gaap:Liabilities | $484.9M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 19 | depreciation amortization | us-gaap:DepreciationDepletionAndAmortization | $42.6M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 20 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $16.2M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 21 | current assets | us-gaap:AssetsCurrent | $631.8M | 2025-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 22 | current liabilities | us-gaap:LiabilitiesCurrent | $265.9M | 2025-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 23 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 33,206,041 | 2026-09-08 | 2026-09-14 | 10-Q | filing · viewer · series |
| 24 | net income | us-gaap:NetIncomeLoss | $64.3M | 2025-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 25 | long term debt | us-gaap:LongTermDebtNoncurrent | $71.0M | 2026-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 26 | long term debt | us-gaap:LongTermDebtNoncurrent | $103.1M | 2025-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 27 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 33,191,901 | 2026-07-15 | 2026-07-24 | 10-K | filing · viewer · series |
| 28 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 32,921,888 | 2026-03-04 | 2026-03-13 | 10-K/A | filing · viewer · series |
| 29 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.6B | 2025-04-30 | 2026-07-24 | 10-K | filing · viewer · series |
| 30 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $174.8M | 2026-07-31 | 2026-09-14 | 10-Q | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$43.6M | 2026-07-31 | 2026-09-14 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$24.8M | 2026-01-31 | 2026-05-04 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $9.0M | 2025-10-31 | 2026-04-14 | 10-Q | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$61.7M | 2025-07-31 | 2026-09-14 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 78.8 is 1.2 points from the nearest band edge; sampling error is 2.2 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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