Immersion Corp

immersion.com

Immersion Corp (NASDAQ: IMMR) is a haptic technology licensing company that develops and licenses patents covering touch feedback experiences for digital devices. It makes money by licensing its intellectual property to original equipment manufacturers and integrated circuit makers, collecting royalties rather than manufacturing hardware itself. The company holds just over 400 worldwide issued or pending patents as of April 30, 2025, covering foundational aspects of haptic technology built over nearly 30 years. Key licensees include Samsung, Google, Sony, Panasonic, Awinic, and Dongwoon Anatech. Mobile communications, wearables, and consumer electronics represented the dominant revenue channel, with the Immersion segment's OEM and integrated circuit customers in the mobile market generating 64% of total revenue for the fiscal year ended April 30, 2025, compared to 41% in the prior fiscal year. End markets extend beyond mobile into gaming, automotive, and sexual wellness. The business is IP-asset-heavy with a patent portfolio as its primary economic asset and a royalty-based model that requires limited capital expenditure to operate.