Immersion (IMMR) 10-K11 Mar 242023 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2023	Mar. 01, 2024	Jun. 29, 2023
Entity Information [Line Items]
Document Annual Report	true
Document Type	10-K
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	000-38334
Entity Registrant Name	Immersion Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3180138
Entity Address, Address Line One	2999 N.E. 191st Street, Suite 610
Entity Address, City or Town	Aventura
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33180
City Area Code	408
Local Phone Number	467-1900
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Document Financial Statement Error Correction [Flag]	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Documents Incorporated by Reference	Items 10 (as to directors and executive officers, and Delinquent Section 16(a) Reports (if any)), 11, 12 (as to Beneficial Ownership), 13 and 14 of Part III of this Annual Report on Form 10-K incorporate by reference portions of the Registrant’s definitive Proxy Statement for the 2024 Annual Meeting of Stockholders.
Entity Central Index Key	0001058811
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		31,700,667
Entity Public Float			$ 214,198,478
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	IMMR
Security Exchange Name	NASDAQ
Series B
Entity Information [Line Items]
Title of 12(b) Security	Series B Junior Participating Preferred Stock Purchase Rights
Trading Symbol	IMMR
Security Exchange Name	NASDAQ

Audit Information

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor [Line Items]
Auditor Name	Plante & Moran, PLLC
Auditor Location	Denver Colorado
Auditor Firm ID	166

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 56,071	$ 48,820
Investments-current	104,291	100,918
Accounts and other receivables	2,241	1,235
Prepaid expenses and other current assets	9,847	9,347
Total current assets	172,450	160,320
Property and equipment, net	211	293
Investments-noncurrent	33,350	17,040
Long-term deposits	6,231	4,324
Deferred tax assets	3,343	7,217
Other assets	146	916
Total assets	215,731	190,110
Current liabilities:
Accounts payable	47	86
Accrued compensation	3,127	2,029
Deferred revenue-current	4,239	4,766
Other current liabilities	11,900	11,044
Total current liabilities	19,313	17,925
Deferred revenue - noncurrent	8,390	12,629
Other noncurrent liabilities	4,926	1,856
Total liabilities	32,629	32,410
Stockholders’ equity:
Common stock and additional paid-in capital – $0.001 par value; 100,000,000 shares authorized; 47,636,273 and 46,974,629 shares issued, respectively; 31,528,977 and 32,247,047 shares outstanding, respectively	322,182	322,714
Accumulated other comprehensive income	1,702	202
Accumulated deficit	(36,040)	(70,016)
Treasury stock at cost: 16,107,296 and 14,727,582 shares, respectively	(104,742)	(95,200)
Total stockholders’ equity	183,102	157,700
Total liabilities and stockholders’ equity	$ 215,731	$ 190,110

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	47,636,273	46,974,629
Common stock, shares outstanding (in shares)	31,528,977	32,247,047
Treasury stock, common (in shares)	16,107,296	14,727,582

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Revenue	$ 33,919	$ 38,461
Operating expenses:
Sales and marketing	1,751	1,219
Research and development	281	1,380
General and administrative	13,960	11,442
Total operating expenses	15,992	14,041
Operating income	17,927	24,420
Interest and other income (loss), net	24,988	2,545
Income before benefit from (provision for) income taxes	42,915	26,965
Benefit from (provision for) income taxes	(8,939)	3,699
Net income	$ 33,976	$ 30,664
Basic net income per share (in dollars per share)	$ 1.05	$ 0.92
Shares used in calculating basic net income per share (in shares)	32,214	33,280
Diluted net income per share (in dollars per share)	$ 1.04	$ 0.92
Shares used in calculating diluted net income per share (in shares)	32,536	33,508
Deferred gains (losses) on available-for-sale marketable debt securities	$ 1,200	$ (944)
Realized gains on available-for-sale marketable debt securities reclassified to net income	300	734
Total comprehensive income	35,476	30,454
Accumulated Deficit
Operating expenses:
Net income	33,976	30,664
Royalty and license
Revenues:
Revenue	33,781	38,178
Development, services, and other
Revenues:
Revenue	$ 138	$ 283

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock and Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2021		46,534,198			12,143,433
Beginning balance at Dec. 31, 2021	$ 141,295	$ 323,296	$ 412	$ (100,680)	$ (81,733)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	30,664			30,664
Unrealized gains (losses) on available-for-sale securities, net of taxes	(210)		(210)
Stock repurchase (in shares)					2,542,065
Stock repurchases	(13,238)				$ (13,238)
Release of restricted stock units and awards net of shares withheld for tax liabilities (in shares)		398,152			42,084
Release of restricted stock units and awards net of shares withheld for tax liabilities	(229)				$ (229)
Issuance of stock for ESPP purchase (in shares)		11,416
Issuance of stock for ESPP purchase	51	$ 51
Shares issued to an employee in lieu of cash compensation (in shares)		30,863
Shares issued to an employee in lieu of cash compensation	157	$ 157
Shares issued in connection with public offering, net of offering costs	5	5
Stock-based compensation	3,417	3,417
Cash dividend declared	(4,212)	$ (4,212)
Ending balance (in shares) at Dec. 31, 2022		46,974,629			14,727,582
Ending balance at Dec. 31, 2022	157,700	$ 322,714	202	(70,016)	$ (95,200)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	33,976			33,976
Unrealized gains (losses) on available-for-sale securities, net of taxes	1,500		1,500
Stock repurchase (in shares)					1,217,774
Stock repurchases	(8,302)				$ (8,302)
Release of restricted stock units and awards net of shares withheld for tax liabilities (in shares)		558,313			161,940
Release of restricted stock units and awards net of shares withheld for tax liabilities	(1,240)				$ (1,240)
Proceeds from stock options exercises (in shares)		21,222
Proceeds from stock options exercises	160	$ 160
Issuance of stock for ESPP purchase (in shares)		1,298
Issuance of stock for ESPP purchase	6	$ 6
Shares issued to an employee in lieu of cash compensation (in shares)		80,811
Shares issued to an employee in lieu of cash compensation	595	$ 595
Stock-based compensation	3,395	3,395
Cash dividend declared	(4,688)	$ (4,688)
Ending balance (in shares) at Dec. 31, 2023		47,636,273			16,107,296
Ending balance at Dec. 31, 2023	$ 183,102	$ 322,182	$ 1,702	$ (36,040)	$ (104,742)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows provided by (used in) operating activities:
Net Income (Loss)	$ 33,976	$ 30,664
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Depreciation of property and equipment	67	140
Reduction in carrying value of right of use assets	324	672
Stock-based compensation	3,395	3,417
Net (gain) loss on investment in marketable securities	(12,153)	7,884
Net gains on derivative instruments	(4,645)	(4,831)
Foreign currency remeasurement (gains) losses	(43)	145
Deferred income taxes	3,528	(5,101)
Shares issued to an employee in lieu of cash compensation	595	157
Other noncash	(262)	23
Changes in operating assets and liabilities:
Accounts and other receivables	(1,006)	735
Prepaid expenses and other current assets	(500)	4,085
Long-term deposits	(1,850)	5,196
Other assets	446	1,226
Accounts payable	(41)	84
Accrued compensation	1,098	1,474
Other current liabilities	(1,035)	(3,196)
Deferred revenue	(4,766)	(4,130)
Other long-term liabilities	3,472	1,502
Net cash and cash equivalents provided by operating activities	20,600	40,146
Cash flows provided by (used in) investing activities:
Purchases of marketable securities and other investments	(177,331)	(151,306)
Proceeds from sale or maturities of marketable securities and other investments	171,804	119,714
Proceeds from sale of derivative instruments	21,944	16,265
Payments for settlement of derivative instruments	(13,019)	(14,052)
Other investing activities	0	(26)
Net cash and cash equivalents provided by (used in) investing activities	3,398	(29,405)
Cash flows provided by (used in) financing activities:
Dividends payments to stockholders	(7,409)	0
Payment for purchases of treasury stock	(8,264)	(13,238)
Shares withheld to cover payroll taxes	(1,240)	(229)
Proceeds from stock options exercises	160	0
Other financing activities	6	56
Net cash and cash equivalents used in financing activities	(16,747)	(13,411)
Net decrease in cash and cash equivalents	7,251	(2,670)
Cash and cash equivalents:
Beginning of period	48,820	51,490
End of period	56,071	48,820
Supplemental disclosure of cash flow information:
Cash paid for income taxes	1,794	1,408
Supplemental disclosure of non-cash investing, and financing activities:
Dividends declared but not yet paid	1,490	4,212
Leased assets obtained in exchange for new operating lease liabilities	$ 0	$ 120

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2023
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES	1. SIGNIFICANT ACCOUNTING POLICIES Description of Business Immersion Corporation (the “Company”, “Immersion”, “we” or “us”) was incorporated in 1993 1999 Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of Immersion and our wholly-owned subsidiaries. All intercompany accounts, transactions, and balances have been eliminated in consolidation. Reclassification Certain prior year amounts have been reclassified to conform with the current year presentation. Restatement of Prior Year's Balance Sheets In 2023 Other current liabilities Other noncurrent liabilities Consolidated Balance Sheets Use of Estimates The preparation of consolidated financial statements in conformity with the generally accepted accounting principles in the United States ("GAAP") requires estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results may differ materially from these estimates on an ongoing basis, we evaluate our estimates, including those related to revenue recognition, fair value of financial instruments, income taxes, long-term deposits for withholding taxes and stock-based compensation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Foreign Currency Translation The functional currency of our foreign subsidiaries is U.S. dollars. Gains and losses from the remeasurement financial statements of the foreign subsidiaries into the U.S. dollars and from foreign currency transactions are reported as Other income (expense), net in our Consolidated Statements of Income and Other Comprehensive Income. Revenue Recognition Our revenue is primarily derived from fixed fee license agreements and per-unit royalty agreements, along with less significant revenue earned from development, services and other revenue. Fixed fee license revenue We recognize revenue from a fixed fee license agreement when we have satisfied our performance obligations, which typically occurs upon the transfer of rights to our technology upon the execution of the license agreement. However, in certain contracts, we grant a license to our existing patent portfolio at the inception of the license agreement as well as rights to the portfolio as it evolves throughout the contract term. For such arrangements, we have concluded that there are two separate performance obligations: • Performance Obligation A: Transfer of rights to our patent portfolio as it exists when the contract is executed; • Performance Obligation B: Transfer of rights to our patent portfolio as it evolves over the term of the contract, including access to new patent applications that the licensee can benefit from over the term of the contract. If a fixed fee license agreement contains only Performance Obligation A, we recognize the revenue from the agreement at the inception of the contract. For fixed fee license agreements that contain both Performance Obligation A and B, we allocate the transaction price based on the standalone price for each of the two performance obligations. We use a number of factors primarily related to the attributes of our patent portfolio to estimate standalone prices related to Performance Obligation A and B. Once the transaction price is allocated, the portion of the transaction price allocable to Performance Obligation A is recognized in the period the license agreement is signed and the customer can benefit from rights provided in the contract. The portion allocable to Performance Obligation B is recognized on a straight-line basis over the contract term which best represents the ongoing and continuous nature of the patent prosecution process. For such contracts, a contract liability account is established and included within Deferred revenue-current and Deferred Revenue-noncurrent on the Consolidated Balance Sheet s. As the rights and obligations in a contract are interdependent, contract assets and contract liabilities that arise in the same contract are presented on a net basis. Some of our license agreements contain fixed fees related to past infringements. Such fixed fees are recognized as revenue or recorded as a deduction to our operating expense in the quarter the license agreement is signed. Payments for fixed fee license contracts typically are due in full within 30 45 Per-unit Royalty revenue We record per-unit royalty revenue in the same period in which the licensee’s underlying sales occur. When we do not receive the per-unit licensee royalty reports for sales during a given quarter within the time frame that allows us to adequately review the reports and include the actual amounts in our quarterly results for such quarter, we accrue the related revenue based on estimates of our licensees’ underlying sales, subject to certain constraints on our ability to estimate such amounts. We develop such estimates based on a combination of available data including, but not limited to, approved customer forecasts, a look back at historical royalty reporting for each of our customers, and industry information available for the licensed products. As a result of accruing per-unit royalty revenue for the quarter based on such estimates, adjustments will be required in the following quarter to true up revenue to the actual amounts reported by its licensees. In 2023 2022 2022 Certain of our per-unit royalty agreements contain minimum royalty provisions which sets forth minimum amounts to be received by us during the contract term. Under Accounting Standard Codification 606 Revenue from Contracts with Customers , (“ASC 606 minimum royalties as contract assets as Prepaid and other current assets and Other assets, net on our Consolidated Balance Sheets , and the balance of such contract assets will be reduced by the actual royalties to be reported by the licensee during the contract term until fully utilized, after which point any excess per-unit royalties reported are recognized as revenue. As the rights and obligations in a contract are interdependent, contract assets and contract liabilities that arise in the same contract are presented on a net basis. Payments of per-unit royalties typically are due within 30 60 Development, services, and other revenue As the performance obligation related to our development, service and other revenue is satisfied over a period of time, we recognize such revenue evenly over the period of performance obligations, which is generally consistent with the contractual term. Deferred Revenue Deferred revenue consists of amounts that have been invoiced or paid but have not been recognized as revenue. The amounts are primarily derived from our fixed license fee agreements under which we are obliged to transfer both rights to our patent portfolio that exists when the contract is executed and rights to its patent portfolio as it evolves over the contract term. Deferred revenue that will be recognizable during the succeeding 12 Deferred Revenu e- current , and the remaining deferred revenue is recorded as D eferred revenue noncurrent on the Consolidated Balance Sheets . Fair Value Measurement We measure the fair value of financial assets as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We use the GAAP fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three are as follows: Level 1 Level 2 bservable inputs other than quoted prices included in Level 1 Level 3 Cash Equivalents We consider all highly liquid instruments with an original maturity of 90 Certificates of deposit Certificate of deposits are reported at fair value and classified as current or noncurrent assets based on their initial maturity days at purchase. Certificates of deposit with original maturity days of 90 91 1 Investment- current . Certificates of deposit with longer than 1 Investments-noncurrent on the Consolidated Balance Sheets . Investments in Marketable Securities Equity Securities We hold marketable equity investments over which we do not have a controlling interest or significant influence. Our investments in marketable equity securities are classified based on the nature of the securities and their availability for use in current operations. As of December 31, 2023 Investment-current on the Consolidated Balance Sheets . They are measured using quoted prices in active markets with changes recorded in Other income (expense), net on the Consolidated Statements of Income and Other Comprehensive Income. Debt Securities Debt securities primarily consist of investments in corporate bonds and U.S. treasury securities and are classified and accounted for as available-for-sale at the time of purchase. We report marketable debt securities as either Investments-current or Investments-noncurrent on our Consolidated Balance Sheets based on each instrument’s underlying contractual maturity date and management's intended holding period. Unrealized gains on available-for-sale securities are included in Accumulated other Comprehensive income on the Consolidated Balance Sheets Interest and other income (loss), net, Consolidated Statement of Income and Comprehensive Income, Interest and other income (loss), net Consolidated Statements of Income and Comprehensive Income all our available-for-sale debt securities with unrealized loss positions. We elected to exclude the applicable accrued interest from both the fair value and amortized cost basis. Applicable accrued interest, net of the allowance for credit losses (if any), of $0.4 million and $0.2 million, is recorded in Accounts and other receivables Consolidated Balance Sheets 2022 Realized gains and losses from the sales of available-for-sale debt securities are determined based on the specific identification method and are reported in Interest and other income (loss), net Consolidated Statements of Income and Comprehensive Income Derivative Financial Instruments We invest in derivatives that are not designated as hedging instruments and which consist of call and put options. When we sell call or put options, the premium received is reported as Other current liabilities on our Consolidated Balance Sheets . When we purchase put or call options, the premium paid is reported as Investments-current on our Consolidated Balance Sheets . The carrying value of these options is adjusted to the fair value, measured using the practical expedient of the midpoint of the bid-ask spread, at the end of each reporting period until the options expire. Gains and losses recognized from the periodic adjustments to fair value are recognized as Interest and other income (loss ), net Consolidated Statements of Income and Comprehensive Income . Accounts and Other Receivables Accounts and other receivables are primarily comprised of trade receivables that are recorded at the invoiced amount, net of an allowance for credit losses. Such accounts receivable have been reduced by an allowance for credit losses, which is our best estimate of the amount of probable credit losses in our existing accounts receivable. We assess our allowance for credit losses on trade receivables by taking into consideration information about past events, such as our historical trend of write-offs, forecasts of future economic conditions, and customer-specific circumstances, such as bankruptcies and disputes. Expense for credit losses on trade receivables is recorded in operating expenses on our Consolidated Statements of Income and Comprehensive Income The allowance for doubtful accounts as of December 31, 2023 and 2022 Leases We lease our office space under lease arrangements with expiration dates on or before April 25, 2024. Operating leases are accounted for as right-of-use (“ROU”) assets and lease liability obligations in our Consolidated Balance Sheets under Other assets , net, Other current liabilities and Other long-term liabilities , respectively. ROU assets and lease liabilities are recognized at lease commencement date based on the present value of lease payments over the lease term. We elect to combine lease and non-lease components and account for them as a single lease component. As our leases typically do not provide an implicit rate, we estimate our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. ROU assets also include any lease payments made and exclude lease incentives and direct costs. Lease expense is recognized on a straight-line basis over the lease term. We elected to not present leases with an initial term of 12 Consolidated Balance Sheets . Variable lease payments primarily include reimbursements of costs incurred by lessors for common area maintenance and utilities and are expensed as incurred and are not included within the ROU asset and lease liability calculation. Research and Development Research and development expenses primarily consisted of personnel-related costs, including payroll and stock-based compensation, outside consulting expenses and allocations of corporate overhead expenses. Research and development costs are expensed as incurred. Legal Proceedings and Litigations We are involved in legal proceedings on an ongoing basis. If we believe that a loss arising from such matters is probable and can be reasonably estimated, we accrue the estimated loss in our Consolidated Financial Statement s. If only a range of estimated losses can be determined, we accrue an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we accrue the low end of the range. Patent Defense Costs Costs associated with patent applications, patent prosecution, patent defense and the maintenance of patents are charged to expense as incurred. Income Taxes We use the asset and liability method of accounting for income taxes. Under this method, income tax expense is recognized for the amount of taxes payable or refundable for the current year. In addition, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carryforwards. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized and are reversed at such a time that realization is believed to be more-likely-than-not. Stock-based Compensation We recognize stock-based compensation cost for shares, net of estimated forfeiture over the requisite service period of the award, which is the vesting period. We use the Black-Scholes Merton option pricing model to determine the fair value of stock options and employee stock purchase plan shares. We estimate the fair value of market-performance based stock options and restricted stock units using a Monte Carlo simulation model which requires the input of assumptions, including expected term, stock price volatility and the risk-free rate of return. In addition, judgment is also required in estimating the number of stock-based awards that are expected to be forfeited. Forfeitures are estimated based on historical experience at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Concentrations of Credit Risk and Significant Customers Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, and accounts and other receivables. Deposits held by banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand. We are subject to a concentration of revenues given certain key licensees that contributed a significant portion of our total revenues. See Note 11 Segment Reporting, Geographic Information and Significant Customers of the Notes to Consolidated Financial Statements for more details on customer revenue concentration. We license technology primarily to companies in North America, Europe, and Asia. To reduce credit risk, management performs periodic credit evaluations of the financial conditions of our customer. We periodically evaluate potential credit losses to ensure adequate reserves are maintained, but historically we have not experienced any significant losses related to individual customers or groups of customers in any particular industry or geographic area. As such, our reserves for credit losses for the years ended December 31, 2023 December 31, 2022 Certain Significant Risks and Uncertainties We operate in multiple industries and our operations can be affected by a variety of factors. For example, management believes that changes in any of the following areas could have a negative effect on our future financial position and results of operations: · Our competition and the market in which we operate; our customers and suppliers; · Our revenue, trends related thereto and the recognition and components thereof; · Our costs and expenses, · Our investment of surplus funds and sales of marketable securities ; · S easonality and demand; · Our investment in research and technology development; · Changes to general and administrative expenses; · Our foreign operations and the reinvestment of our earnings related thereto; · Our investment in and protection of our IP; · Expiration of haptic technology patents; · Changes in or obsolescence of licensed technology; · Our employees; · Capital expenditures and the sufficiency of our capital resources; · Unrecognized tax benefits and tax liabilities; · The impact of changes in interest rates and foreign exchange rates, as well as our plans with respect to foreign currency hedging in general; · Changes in laws and regulations, including with respect to taxes; and · Our plans related to and the impact of current and future litigation and arbitration; Segment Information We operate as one operating segment because our Chief Executive Officer, as our chief operating decision maker (“CODM”), The CODM approves budgets and allocates resources to and assesses our business performance using information about our revenue and operating loss. There is only one segment that is reported to management. Recent Account Pronouncements Not Yet Adopted In December 2023, the Financial Accounting Standard Board (“FASB”) 2023 09 Income Taxes (Topic 740 We are evaluating the impact of this amendment on our consolidated financial statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
REVENUE RECOGNITION	Dec. 31, 2023
REVENUE RECOGNITION
REVENUE RECOGNITION	2. REVENUE RECOGNITION Disaggregated Revenue The following table presents the disaggregation of our revenue for the years ended December 31, 2023 2022 Years Ended December 31, 2023 2022 Fixed fee license revenue $ 5,283 $ 11,953 Per-unit royalty revenue 28,498 26,225 Total royalty and license revenue 33,781 38,178 Development, services, and other revenue 138 283 Total revenues $ 33,919 $ 38,461 Contract As of December 31, 2023 2022 2021 Prepaid expenses and other current asset s, respectively. As of December 31, 2023 2022 2021 Other assets on the Consolidated Balance Sheets, respectively. Total contract assets decreased by $0.7 million from January 1, 2023 to December 31, 2023 primarily due to actual royalties billed during the year. December 31, 2022 primarily due to actual royalties billed and the reduction in contact assets balance following our settlement agreement with Marquardt . Deferred Revenue Based on contracts signed and payments received as of December 31, 2023 one three three As of December 31, 2022 As December 31, 2021 million, of which $ 4.9 was recognized during 2022 2022

INVESTMENTS AND FAIR VALUE MEAS

INVESTMENTS AND FAIR VALUE MEASUREMENTS	12 Months Ended
INVESTMENTS AND FAIR VALUE MEASUREMENTS	Dec. 31, 2023
INVESTMENTS AND FAIR VALUE MEASUREMENTS
INVESTMENTS AND FAIR VALUE MEASUREMENTS	3 INVESTMENTS AND FAIR VALUE MEASUREMENTS Marketable Securities We invest 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. We periodically evaluate the need for an allowance for credit losses on investment securities available-for-sale on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. Marketable securities as of December 31, 2023 December 31, 2022 December 31, 2023 Cost or Amortized Cost Unrealized Gains Unrealized Losses Fair Value Marketable equity securities Equity securities $ 59,228 $ 7,896 $ (4,146 ) $ 62,978 Marketable debt securities U.S. treasury securities 53,662 1,307 (3 ) 54,966 Corporate bonds 19,422 472 (197 ) 19,697 Total marketable debt securities 73,084 1,779 (200 ) 74,663 $ 132,312 $ 9,675 $ (4,346 ) $ 137,641 December 31, 2022 Cost or Amortized Cost Unrealized Gains Unrealized Losses Fair Value Marketable equity securities Mutual funds $ 26,352 $ — $ (3,143 ) $ 23,209 Equity securities 53,273 2,776 (5,836 ) 50,213 Total marketable equity securities 79,625 2,776 (8,979 ) 73,422 Marketable debt securities U.S. treasury securities 25,640 182 (24 ) 25,798 Corporate bonds 13,496 48 (106 ) 13,438 Total marketable debt securities 39,136 230 (130 ) 39,236 $ 118,761 $ 3,006 $ (9,109 ) $ 112,658 The amortized costs and fair value of marketable debt securities, by contractual maturity, as of December 31, 2023 December 31, 2022 December 31, 2023 Amortized Fair Less than 1 $ 40,129 $ 41,313 1 5 32,955 33,350 Total $ 73,084 $ 74,663 December 31, 2022 Amortized Fair Less than 1 $ 22,014 $ 22,196 1 5 12,086 11,973 More than 5 5,036 5,067 Total $ 39,136 $ 39,236 As of December 31, 2023, the fair value of available-for-sale debt securities in unrealized loss position for corporate bonds and U.S. treasury securities were $7.1 million and $2.7 million, respectively, with an aggregated loss of $0.2 million. As of December 31, 2022, the fair value of available-for-sale debt securities in unrealized loss position for corporate bonds and U.S. treasury securities were $ 13.3 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 December 31, 2023 and 2022 Derivative Financial Instruments Our derivative instruments consisted of written put options sold at their fair value as of the balance sheet dates. These derivative instruments are reported as Other current liabilities on our Consolidated Balance Sheets as of December 31, 2023 December 31, 2022 December 31, 2023 Cost Unrealized Gains Fair Value Derivative instruments $ 8,797 $ ( 867 ) $ 7,930 $ 8,797 $ (867 ) $ 7,930 December 31, 2022 Cost Unrealized Losses Fair Value Derivative instruments $ 2,987 $ 662 $ 3,649 $ 2,987 $ 662 $ 3,649 A summary of realized and unrealized gains and losses from our equity securities and derivative instruments are as follows (in thousands): Years Ended December 31, 2023 2022 Net unrealized gains (losses) recognized on marketable equity securities $ 9,952 $ ( ) Net realized gains (losses) recognized on marketable equity securities 1,901 (4,085 ) Net realized gains recognized on derivative instruments 3,219 5,493 Net unrealized gains (losses) recognized on derivative instruments 1,426 (662 ) Net realized gains recognized on marketable debt securities 300 734 Total net gains (losses) recognized in interest and other income (loss), net $ 16,798 $ (3,053 ) Fair Value Measurements Our financial instruments measured at fair value on a recurring basis consisted of money-market funds, mutual funds, equity securities, corporate debt securities and derivatives. Equity securities are classified within Level 1 2 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 3 December 31, 2023 December 31, 2022 Financial instruments measured at fair value on a recurring basis as of December 31, 2023 and December 31, 2022 are classified based on the valuation technique in the table below (in thousands): December 31, 2023 Fair Value Measurements Using Quoted Prices 1 Significant 2 Significant 3 Total Assets: U.S. treasury securities $ 54,966 $ — $ — $ 54,966 Equity securities 62,977 — — 62,977 Corporate bonds — 19,697 — 19,697 Total assets at fair value $ 117,943 $ 19,697 $ — $ 137,640 Liabilities Derivative instruments $ — $ 7,930 $ — $ 7,930 Total liabilities at fair value $ — $ 7,930 $ — $ 7,930 December 31, 2022 Fair Value Measurements Using Quoted Prices 1 Significant 2 Significant 3 Total Assets: Certificates of deposit $ — $ 5,300 $ — $ 5,300 U.S. treasury securities 25,798 — — 25,798 Mutual funds 23,209 — — 23,209 Equity securities 50,213 — — 50,213 Corporate bonds — 13,438 — 13,438 Total assets at fair value $ 99,220 $ 18,738 $ — $ 117,958 Liabilities Derivative instruments $ — $ 3,649 $ — $ 3,649 Total liabilities at fair value $ — $ 3,649 $ — $ 3,649 If quoted prices for identical instruments are available in an active market, debt securities are classified within Level 1 2 one two Our derivative financial instruments are classified within Level 2

BALANCE SHEET DETAILS

BALANCE SHEET DETAILS	12 Months Ended
BALANCE SHEET DETAILS	Dec. 31, 2023
BALANCE SHEET DETAILS
BALANCE SHEET DETAILS	4. BALANCE SHEETS DETAILS Cash and Cash Equivalents Cash and cash equivalents were as follow (in thousands): December 31, 2023 December 31, 2022 Cash $ 14,840 $ 9,630 Money market funds 41,231 13,586 Certificates of deposit ( 1 — 25,604 Cash and cash equivalents $ 56,071 $ 48,820 ( 1 Represents certificates of deposit with initial maturity days of 90 Investments-current Investments - current were as follows (in thousands): December 31, 2023 December 31, 2022 Certificates of deposit ( 2 $ — $ 5,300 Equity marketable securities 62,978 73,422 U.S. treasury securities 41,313 22,196 Short-term investments $ 104,291 $ 100,918 ( 2 Represents investments with remaining maturity days between 91 one Accounts and Other Receivables, Net Accounts and other receivables net, were as follows (in thousands): December 31, 2023 December 31, 2022 Trade accounts receivables $ 1,743 $ 1,003 Other receivables 498 232 Accounts and other receivables $ 2,241 $ 1,235 Allowance for credit losses as of December 31, 2023 December 31, 2022 Prepaid expenses and Other Current Assets Prepaid expenses and other current assets were as follows (in thousands): December 31, 2023 December 31, 2022 Prepaid expenses $ 1,916 $ 1,576 Contract assets - current 7,740 7,671 Other current assets 191 100 Prepaid expenses and other current assets $ 9,847 $ 9,347 Investments-noncurrent Investments- noncurrent are as follows (in thousands): December 31, 2023 December 31, 2022 U.S. treasury securities $ 13,653 $ 3,602 Corporate bonds 19,697 13,438 Investments-noncurrent $ 33,350 $ 17,040 Other Assets Other assets are as follows (in thousands): December 31, 2023 December 31, 2022 Contract assets - noncurrent 110 545 Lease right-of-use assets 36 360 Other assets — 11 Total other assets $ 146 $ 916 Other Current Liabilities Other current liabilities are as follows (in thousands): December 31, 2023 December 31, 2022 Derivative instruments $ 7,930 $ 3,649 Lease liabilities -\current 39 486 Income taxes payable 1,730 1,279 Dividends payable 1,489 4,212 Other current liabilities 712 1,418 Total other current liabilities $ 11,900 $ 11,044 As of December 31, 2023 and 2022 were $4.9 million and 1.9 million

CONTINGENCIES

CONTINGENCIES	12 Months Ended
CONTINGENCIES	Dec. 31, 2023
CONTINGENCIES
CONTINGENCIES	5. CONTINGENCIES From time to time, we receive claims from third parties asserting that our technologies, or those of our licensees, infringe on the other parties’ intellectual property ( “ ”) In the normal course of business, we provide indemnification of varying scope to customers, most commonly to licensees in connection with licensing arrangements that include our IP, although these provisions can cover additional matters. Historically, costs related to these guarantees have not been significant, and we are unable to estimate the maximum potential impact of these guarantees on our future results of operations. LGE Korean Withholding Tax Matter On October 16, 2017, we received a letter from LG Electronics Inc. (“LGE”) requesting that we reimburse LGE with respect to withholding tax imposed on LGE by the Korean tax authorities following an investigation where the tax authority determined that LGE failed to withhold on LGE’s royalty payments to Immersion Software Ireland, a subsidiary of the Company, from 2012 2014 5,916,845,454 5.0 2020 Long-term deposits Condensed Consolidated Balance Sheets In the fourth quarter of 2021 , we recorded an impairment charge of $ 0.8 On November 3, 2017, on behalf of LGE, we filed an appeal with the Korea Tax Tribunal regarding their findings with respect to the withholding taxes related to the 2012 2017 2019 2022 However, the next hearing will be set at a later date. On April 25, 2023, we received notice from LGE requesting us to reimburse LGE with respect to withholding tax imposed on LGE by the Korean tax authorities following a recent tax audit of LGE for the years 2018 2022 2023 Condensed Consolidated Balance Sheets 2018 2022 2018 2022 2023 In the event that we do not ultimately prevail in our appeal in the Korean courts with respect to this case, the applicable deposits included in Long-term deposits Consolidated Statements of Income and Comprehensive Income Samsung Electronics Co. v. Immersion Corporation and Immersion Software Ireland Limited On April 28, 2017, Immersion and Immersion Software Ireland Limited (collectively referred to as “Immersion” in this section) received a letter from Samsung Electronics Co. (“Samsung”) requesting that Immersion reimburse Samsung with respect to withholding tax and penalties imposed on Samsung by the Korean tax authorities following an investigation where the tax authority determined that Samsung failed to withhold taxes on Samsung’s royalty payments to Immersion Software Ireland from 2012 2016 2017 2022 KRW6,088,855,388 (approximately $5 million) 2021 Immersion Corporation vs. Meta Platforms, Inc., f/k/a Facebook, Inc. On May 26, 2022, we filed a complaint against Meta Platforms, Inc. (formerly known as Facebook, Inc.) (“Meta”) in the United States District Court for the Western District of Texas. The complaint alleges that Meta’s augmented and virtual reality (“AR/VR”) systems, including the Meta Quest 2 six The complaint against Meta asserts infringement of the following patents: • U.S. Patent No. 8,469,806 • U.S. Patent No. 8,896,524 • U.S. Patent No. 9,727,217 • U.S. Patent No. 10,248,298 • U.S. Patent No. 10,269,222 • U.S. Patent No. 10,664,143 Meta responded to the Company’s complaint on August 1, 2022. On September 12, 2022, Meta filed a motion to transfer the lawsuit to the Northern District of California or, in the alternative, to the Austin Division of the Western District of Texas. The Court denied Meta’s motion on May 30, 2023, and held the claim construction hearing on the same day. The Court adopted certain claim constructions during the hearing and issued a formal claim construction order consistent with those constructions on July 7, 2023. On August 2, 2023, Meta filed a mandamus petition asking the Federal Circuit to reverse the district court’s order on Meta’s transfer motion. Fact discovery closed on October 6, 2023. The Federal Circuit denied Meta’s mandamus petition on October 30, 2023. On November 10, 2023, Immersion filed a separate action in the Western District of Texas against Meta directed to its newly launched Quest 3 • 8,469,806 • 9,727,217 • 10,248,298 • 10,269,222 • 10,664,143 In addition, Meta filed inter partes reviews (“IPRs”), IPR 2023 00942 2023 00943 2023 00944 8,469,806 8,896,524 10,269,222 2023 00942 2023 0094 2023 00944 2023 00945 2023 00946 2023 00947 10,664,143 9,727,217 10,248,298 2023 00942 2023 00943 2023 00944 2023 00945 2023 00946 2023 00947 On January 16, 2024, Immersion and Meta jointly moved to stay all deadlines in district court because they had arrived at a settlement in principle. On January 17, 2024, the Court stayed all deadlines. Under the Court’s order, the parties were to either move to dismiss the proceedings if they finalized the settlement agreement, or alternatively they were to provide the Court with a status update, by January 31, 2024. On February 9, 2024, we finalized a settlement agreement that resolved all district court and PTAB disputes. See Note 12 Immersion Corporation vs. Xiaomi Group On or about March 3, 2023, we initiated patent infringement lawsuits against several companies of the Xiaomi-Group (the “Xiaomi-Group”) in Germany, France and India. We initiated lawsuits against Xiaomi-Group companies and their agents in the Düsseldorf Regional Court in Germany, the Tribunal judiciaire de Paris The complaints allege that the Xiaomi-Group’s devices, including the Xiaomi 12 The complaints against the -Group assert infringement of the following patents: • EP 2 463 752 1 Haptisches Feedback-System mit gespeicherten Effekten • EP 2 463 752 1 Système de rendu haptique avec stockage d’effets • IN 304 396 Haptic Feedback System With Stored Effects” On June 19, 2023, Xiaomi filed an initial response to the Company’s lawsuit in India. On July 7, 2023, the Indian litigation was listed before the Learned Joint Registrar (“JR”), Mr. Siddharth Mathur. The application seeking interim injunction will be heard on March 21, 2024. On July 11, 2023, in the German proceeding Xiaomi filed its nullity action in the German Federal Patent Court, which was served on Immersion on July 27, 2023. Immersion replied on October 27, 2023, and is awaiting Xiaomi’s response which is anticipated to be filed in late January or early February 2024, with a decision expected in March or April of 2024 Xiaomi had until December 21, 2023 to reply to Immersion’s writ of summons in the French proceeding. Xiaomi requested an extension, and replied on January 4, 2024. Immersion’s tentative deadline to respond is March 14, 2024. The next case management hearing is scheduled for March 21, 2024. Immersion Corporation vs. Valve Corporation On May 15, 2023, we filed a complaint against Valve Corporation (“Valve”) in the United States District Court for the Western District of Washington. The complaint alleges that Valve’s AR/VR systems, including the Valve Index, and handheld Steam Deck, infringe seven The complaint against Valve asserts infringement of the following patents: • 7,336,260 • 8,749,507 • 9,430,042 • 9,116,546 • 10,627,907 • 10,665,067 • 11,175,738 Valve responded to the Complaint on July 24, 2023 with a motion to dismiss. Valve re-noted its motion, which changed the Company’s response deadline from August 14, 2023, to August 21, 2023. The Company timely filed its response and Valve filed its reply on August 25, 2023. The motion remains pending. The Court entered a case schedule on November 21, 2023. The case schedule does not include a trial date but set the pretrial conference for May 30, 2025.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
STOCK-BASED COMPENSATION	Dec. 31, 2023
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	6 STOCK-BASED COMPENSATION Stock Options and Awards Our equity incentive program is a long-term retention program that is intended to attract, retain, and provide incentives for employees, consultants, officers, and directors and to align stockholder and employee interests. We may grant time-based options, market condition-based options, stock appreciation rights, restricted stock awards (“RSAs”), restricted stock units (“RSUs”), performance shares, market condition-based performance restricted stock units (“PSUs”), and other stock-based equity awards to employees, officers, directors, and consultants. On January 18, 2022, our stockholders approved the 2021 (as amended, the “ 2021 Plan”), 2011 On March 30, 2023, our stockholders approved an amendment to the 2021 8,146,607 shares plus up to an additional 855,351 shares that are subject to stock options or other awards previously granted under the 2011 Equity Incentive Plan. Under our equity incentive plans, stock options may be granted at prices not less than the fair market value on the date of the grant for stock options. Stock options generally vest over four years and expire seven years from the grant date. Market condition-based stock awards are subject to a market condition whereby the closing price of our common stock must exceed a certain level for a number of trading days within a specified time frame or the awards will be canceled before expiration. RSAs generally vests over one year. RSUs generally vest over three years. Awards granted other than a stock option or a stock appreciation right shall reduce the common stock shares available for grant by 1.75 A summary of our equity incentive program as of December 31, 2023 Common stock shares available for grant 4341 Stock options outstanding — RSUs outstanding 1,128 RSAs outstanding 75 PSUs outstanding 400 Time-Based Stock Options The following summarizes activities for the time-based stock options for the years ended December 31, 2023 Number of Shares Weighted Average Weighted Average Aggregate Outstanding at December 31, 2022 140 $ 7.57 4.03 $ — Granted — — Exercised (21 ) 7.54 Canceled or expired (119 ) 7.57 Outstanding as of December 31, 2023 — $ — — $ — Vested and expected to vest at December 31, 2023 — $ — — $ — Exercisable at December 31, 2023 — $ — — $ — The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the exercise price of our common stock for the options that were in-the-money. Restricted Stock Units The following summarizes RSU activities for the year ended December 31, 2023 Number of Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Weighted Average Aggregate Outstanding at December 31, 2022 887 $ 5.85 1.31 $ 6,226 Granted 527 7.16 Released (234 ) 5.10 Forfeited (52 ) 6.91 Outstanding at December 31, 2023 1,128 $ 6.57 1.05 $ 7,964 The aggregate intrinsic value is calculated as the market value as of the end of the reporting period. Restricted Stock Awards The following summarizes RSA activities for the year ended December 31, 2023 Number of Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share Weighted Average Remaining Recognition Period Outstanding at December 31, 2022 119 $ 5.47 0.39 Granted 75 8.31 Released (119 ) 5.47 Forfeited — — Outstanding at December 31, 2023 75 $ 8.31 0.24 Market Condition-Based Restricted Stock Units In the first quarter of 2022 Each PSU represents the right to one share of our common stock with vesting subject to: (a) the achievement of specified levels of the volume weighted average closing prices of our common stock during any 100 day-period between January 1, 2022 and January 1, 2027, subject to certification by the Compensation Committee (“Performance Milestones”); and (b) continued employment with us through the later of each achievement date or service vesting date, which occurs over a three (3) year period commencing on January 1, 2022. The following summarizes PSU activities for the year ended December 31, 2023 Number of Market Condition-Based Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Weighted Average Remaining Recognition Period Outstanding at December 31, 2022 615 $ 3.69 1.12 Granted — — Released (206 ) 3.73 Forfeited (9 ) 6.20 Outstanding at December 31, 2023 400 $ 3.63 0.00 The assumptions used to value market condition-based restricted stock units granted during the year ended December 31, 2022 under our equity incentive program are as follows: Year Ended December 31, 2022 Expected life (in years) 1.2 Volatility 58 % Interest rate 1.7 % Dividend yield — Employee Stock Purchase Plan Under the 1999 six year ended December 31, 2023, Effective February 1, 2023, our ESPP was discontinued, and shares expired following the ESPP termination. Stock-based Compensation Expense Valuation and amortization methods Stock-based compensation is based on the estimated fair value of awards, net of estimated forfeitures, and recognized over the requisite service period. Estimated forfeitures are based on historical experience at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The stock-based compensation related to all of our stock-based awards and ESPP for the year ended December 31, 2023 2022 Years Ended December 31, 2023 2022 Stock options $ (30 ) $ 120 RSUs, RSAs and PSUs 3,425 3,295 ESPP — 2 Total $ 3,395 $ 3,417 Sales and marketing $ 412 $ 61 Research and development (69 ) 117 General and administrative 3,052 3,239 Total $ 3,395 $ 3,417 As of December 31, 2023 , there was $ million of unrecognized compensation cost adjusted for estimated forfeitures related to non-vested stock options, , and granted to our employees and directors. This unrecognized compensation cost will be recognized over an estimated weighted-average period of y 2.0 years. Total unrecognized compensation cost will be adjusted for future changes in estimated forfeitures.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
STOCKHOLDERS' EQUITY	Dec. 31, 2023
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	7. STOCKHOLDERS’ EQUITY Stock Repurchase Agreement On February 14, 2022, we entered into a Common Stock Repurchase Agreement (the “Agreement”) with Invenomic Capital Management LP. (“Invenomic”). P ursuant to the Agreement, we purchased 904,499 shares of our common stock from Invenomic at $4.725 per share, or an aggregate purchase price of $4.3 million. The closing price of our common stock on February 14, 2022 was $4.80 per share. We adopted a Section 382 382 1986 (the "Board") Stock Repurchase Program On February 23, 2022, our Board approved a stock repurchase program of up to $ 30.0 one 10 5 1 10 5 1 1934 as amended (the “Exchange Act”) . Additionally, the Board authorized the use of any derivative or similar instrument to effect stock repurchase transactions, including without limitation, accelerated share repurchase contracts, equity forward transactions, equity option transactions, equity swap transactions, cap transactions, collar transactions, naked put options, floor transactions or other similar transactions or any combination of the foregoing transactions. The February 2022 Stock Repurchase Program was implemented as a method to return value to our stockholders. The timing, pricing and sizes of any repurchases will depend on a number of factors, including the market price of our common stock and general market and economic conditions. The February 2022 Stock Repurchase Program does not obligate us to repurchase any dollar amount or number of shares, and the program may be suspended or discontinued at any time. In the year ended December 31, 2022 we repurchased shares of our common stock for $ million at an average purchase price of $ per share. The February 2022 Stock Repurchase Program was terminated on December 29, 2022. On December 29, 2022, the Board approved a stock repurchase program of up to $ 50.0 twelve months one 10 5 1 10 5 December 29, 2023 December 29, 2024 In the year ended December 31, 2023 we repurchased 1,217,774 December 31, 2023 Dividends Payment On November 14, 2022, our Board declared a quarterly dividend in the amount of $0.03 per share, which was paid on January 30, 2023, to stockholders of record on January 15, 2023. In addition, on December 29, 2022, our Board declared a special dividend in the amount of $0.10 per share, which was paid on January 30, 2023 to stockholders of record on January 15, 2023. On February 21, 2023, the Board declared a quarterly dividend, in the amount of $0.03 per share, which will be paid on April 28, 2023 to stockholders of record on April 13, 2023. On May 10, 2023, the Board declared a third quarterly dividend in the amount of $ 0.03 On August 11, 2023, the Board declared a quarterly dividend in the amount of $ 0.03 On November 13, 2023, our Board declared a quarterly dividend in the amount of $ 0.045 On March 7, 2024 , our Board declared a quarterly dividend in the amount of $0.045 Future dividends will be subject to further review and approval by the Board in accordance with applicable law. The Board reserves the right to adjust or withdraw the quarterly dividend in future periods as it reviews our capital allocation strategy from time-to-time. In the year ended December 31, 2023

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2023
INCOME TAXES
INCOME TAXES	8 INCOME TAXES Benefit from (provision for) income taxes the years ended December 31, 2023 2022 Years Ended December 31, 2023 2022 Income before provision for (benefit from) income taxes 42,915 26,965 Provision for (benefit from) income taxes 8,939 (3,699 ) Effective tax rate 20.8 % 13.7 % Provision for income taxes for the year ended December 31, 2023 resulted primarily from estimated domestic and foreign taxes included in the calculation of the effective tax rate. Benefit from income taxes for the year ended December 31, 2022, resulted primarily from estimated domestic and foreign taxes included in the calculation of the effective tax rate. The components of our income before benefit from (provision for) income taxes were as follows (in thousands): Years Ended December 31, 2023 2022 Domestic $ 30,458 $ 14,552 Foreign 12,457 12,413 Total $ 42,915 $ 26,965 The benefit from (provision for) income taxes consisted of the following (in thousands): Years Ended December 31, 2023 2022 Current: U.S. federal $ 3,554 $ 458 States and local 236 74 Foreign 1,621 871 Total current 5,411 1,403 Deferred: U.S. federal 2,921 (5,694 ) States and local — — Foreign 607 592 Total deferred 3,528 (5,102 ) Total benefit from (provision for) income taxes $ 8,939 $ (3,699 ) Deferred tax assets and liabilities are recognized for the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, tax losses, and credit carryforwards . Significant components of the net deferred tax assets and liabilities consisted of (in thousands): December 31, 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 4,785 $ 5,391 State income taxes 50 15 Deferred revenue 2,769 3,498 Research and development and other credits 3,701 3,757 Reserve and accruals recognized in different periods (563 ) 1,692 Capitalized research and development expenses 2,850 3,019 Depreciation and amortization 587 1,802 Lease liability 7 104 Total deferred tax assets 14,186 19,278 Valuation allowance (10,837 ) (12,341 ) Net deferred tax assets 3,349 6,937 Deferred tax liabilities: Right of use lease assets (6 ) (67 ) Total deferred tax liabilities (6 ) (67 ) Net deferred taxes $ 3,343 $ 6,870 We account for deferred taxes under ASC 740 which requires a reduction of the carrying amounts of deferred tax assets by a valuation allowance if, based on available evidence, it is more likely than not that such assets will not be realized. Accordingly, the need to establish valuation allowances for deferred tax assets is assessed periodically based on the ASC 740 more-likely-than-not realization (“MLTN”) threshold criterion. This assessment considers matters such as future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. The evaluation of the recoverability of the deferred tax assets requires that we weigh all positive and negative evidence to reach a conclusion that it is more likely than not that all or some portion of the deferred tax assets will not be realized. The weight given to the evidence is commensurate with the extent to which it can be objectively verified. As of December 31, 2023, based on our assessment of the realizability of our deferred tax assets, we provided no valuation allowance for certain federal assets, whose future realization is more likely than not and continue to maintain full valuation allowance for state and certain foreign deferred tax assets in the United States and Canada, whose future realization is not more likely than not to be realized. As of December 31, 2022, based on our assessment of the realizability of our deferred tax assets, we put partial valuation allowance for certain federal assets, whose future realization is not more likely than not and continue to maintain full valuation allowance for state and certain foreign deferred tax assets in the United States and Canada. As of December 31, 2023 2029 2017 December 31, 2023 2023 2039 December 31, 2023 2040 Section 382 382 382 382 1999 The reconciliation of federal statutory income tax rate to our effective tax rate was as follows (in thousands): Years Ended December 31, 2023 2022 Federal statutory rate 21.0 % 21.0 % Foreign withholding 0.7 % 0.3 % Stock-based compensation expense (0.7) % 0.3 % Foreign rate differential (2.1) % (2.3) % Prior year true-up items — % (0.9) % Tax reserves 4.0 % 5.3 % FTC (6.0) % 1.4 % Other 0.6 % 0.7 % State taxes, net of federal benefit 0.2 % 0.2 % Global intangible low-taxed income 3.8 % 6.4 % Nondeductible officers compensation 2.8 % 1.1 % Valuation allowance (3.5) % (47.2) % Effective tax rate 20.8 % (13.7) % The undistributed earnings of our foreign subsidiaries are considered to be indefinitely reinvested and accordingly, no provision for applicable income taxes has been provided thereon. Upon distribution of those earnings, we are subject to withholding taxes payable to various foreign countries. As of December 31, 2023 , any foreign withholding taxes on the undistributed earnings of our foreign subsidiaries were immaterial. We maintain liabilities for uncertain tax positions. These liabilities involve considerable judgment and estimation and are continuously monitored by management based on the best information available, including changes in tax regulations, the outcome of relevant court cases, and other information. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands): Years Ended December 31, 2023 2022 Balance at beginning of year 7,093 7,569 Gross increases for tax positions of prior years — 647 Gross decreases for federal tax rate change for tax positions of prior years 125 (2,170 ) Gross increases for tax positions of current year 272 1,146 Lapse of statute of limitations — (99 ) Balance at end of year 7,490 7,093 The unrecognized tax benefits relate primarily to federal and state research and development credits, intercompany profit on the transfer of certain IP rights to one 2015 Based on our assessment of the development in the Samsung case in October 2021, we continue to accrue $0.3 million liability for 2023. We account for interest and penalties related to uncertain tax positions as a component of income tax expense. As of December 31, 2022 December 31, 2023 Because we have net operating loss and credit carryforwards, there are open statutes of limitations in which federal, state and foreign taxing authorities may examine our tax returns for all years from 2008

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	12 Months Ended
NET INCOME (LOSS) PER SHARE	Dec. 31, 2023
NET INCOME (LOSS) PER SHARE
NET INCOME (LOSS) PER SHARE	9 NET INCOME (LOSS) PER SHARE Basic net income (loss) per share is computed using the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed using the weighted average number of shares of common stock, adjusted for any dilutive effect of potential common stock. Potential common stock, computed using the treasury stock method, includes stock options, stock awards and ESPP. The following is a reconciliation of the denominators used in computing basic and diluted net income (loss) per share (in thousands, except per share amounts): Years Ended December 31, 2023 2022 Denominator: Weighted-average shares outstanding, basic 32,214 33,280 Shares related to outstanding options, unvested RSUs, RSAs, PSUs and ESPP 322 228 Weighted average shares outstanding, diluted 32,536 33,508 We include market condition-based performance restricted stock units in the calculation of diluted earnings per share if the performance condition has been satisfied as of the end of the reporting period and exclude stock equity awards if the performance condition has not been met. For the year ended December 31, 2023 , we had no outstanding stock options and a year ended December 31, 2022

LEASES

LEASES	12 Months Ended
LEASES	Dec. 31, 2023
LEASES
LEASES	10 LEASES We lease our office space under lease arrangements with expiration dates on or before March 31, 2024. We recognize lease expense on a straight-line basis over the lease term. Leases with an initial term of 12 Consolidated Balance Sheets . We combine lease and non-lease components for new and reassessed leases. We apply discount rates to operating leases using a portfolio approach. Below is a summary of our right-of-use (“ROU”) Balance Sheets Classification December 31, 2023 December 31, 2022 Assets Right-of-use assets Other assets $ 36 $ 360 Liabilities Operating lease liabilities - current Other current liabilities 39 486 Operating lease liabilities - long-term Other long-term liabilities — 56 Total lease liabilities $ 39 $ 542 The table below provides supplemental information related to operating leases during the years ended December 31, 2023 2022 Years Ended December 31, 2023 2022 Cash paid within operating cash flow 38 $ 1,264 Weighted average lease terms (in years) 0.20 0.70 Weighted average discount rates N/A 3.93 % On June 6, 2022, we entered into a sublease agreement with Innovobot Fund LLP (“Innovobot”) for our facility located in Montreal Canada (the "Montreal Facility"). This sublease commenced on June 8, 2022 and ended on February 27, 2024 which approximates the lease termination date of the original Montreal Facility lease. In accordance with provisions of ASC 842 On January 31, 2022, we entered into an agreement to lease a 1,390 square feet of office space in Aventura, Florida (“Aventura Lease”). We use this facility as our principal executive offices and for general administrative functions. This lease commenced in the first quarter of 2022 2024 842 Leases (“ASC 842 2022 On March 12, 2020, we entered into a sublease agreement with Neato Robotics, Inc. (“Neato”) for our facility located in San Jose, California (the “San Jose 842 We recognize operating lease expense and lease payments from the sublease, on a straight-line basis, in our Consolidated Statements of Income and Comprehensive Income over the lease terms. During the year ended December 31, 2023 2022 Years Ended 2023 2022 Operating lease costs $ 555 $ 906 Variable lease payments 18 426 Sublease income (544 ) (1,143 ) Total lease cost (income) $ 29 $ 189 Minimum future lease payments obligations as of December 31, 2023 For the Years Ending December 31, 2024 39 Total lease payments 39 Less: Interest — Total lease liability $ 39 Future cash receipts from our sublease agreements as of December 31, 2023 For the Years Ending December 31, 2024 34 Total $ 34

SEGMENT REPORTING, GEOGRAPHIC I

SEGMENT REPORTING, GEOGRAPHIC INFORMATION, AND SIGNIFICANT CUSTOMERS	12 Months Ended
	Dec. 31, 2023
SEGMENT REPORTING, GEOGRAPHIC INFORMATION, AND SIGNIFICANT CUSTOMERS
SEGMENT REPORTING, GEOGRAPHIC INFORMATION, AND SIGNIFICANT CUSTOMERS	11 SEGMENT REPORTING, GEOGRAPHIC INFORMATION, AND SIGNIFICANT CUSTOMERS Segment Information We develop, license, and support a wide range of software and IP that more fully engage users’ senses of touch when operating digital devices. We focus on the following target application areas: mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical; and commercial. We manage these application areas in one operating and reporting segment with only one Our CODM is the Chief Executive Officer. The CODM approves budgets and allocates resources to and assesses our business performance using information about our revenue and operating loss. There is only one segment that is reported to management. Revenue by Market Area The following is a summary of revenues by market areas. Revenue as a percentage of total revenues by market are as follows: Years Ended December 31, 2023 2022 Mobile, Wearables, and Consumer 41 % 60 % Gaming Devices 32 21 Automotive 22 13 Other 5 6 Total 100 % 100 % Geographic Revenue Revenues are broken out geographically by the location of the customer. A summary of revenue by region as a percentage of total revenues are as follows: Years Ended December 31, 2023 2022 Asia 74 % 62 % Europe 17 10 North America 9 28 Total 100 % 100 % A summary of revenue by country as a percentage of total revenues are as follows: Years Ended December 31, 2023 2022 Japan 39 % 27 % Korea 32 33 Germany 15 7 United States of America 9 28 Other countries with less than 10 5 5 Total 100 % 100 % Property and Equipment, net by Country Property and equipment, net by geographic areas as a percentage of total property and equipment, net are as follows: December 31, 2023 2022 Canada 96 % 97 % United States of America 2 2 Rest of World 2 1 Total 100 % 100 % Significant Customers During the year ended December 31, 2023 three 2022 three A summary of customers with 10% or greater of our outstanding accounts and other receivables are as follows: Years Ended December 31, 2023 2022 Customer A 81 % 60 % Customer B 14 % * % Customer C * 21 % * Represents less than 10

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2023
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	12. SUBSEQUENT EVENTS On February 9, 2024, we entered into a Patent License and Settlement Agreement (the “License and Settlement Agreement”) with Meta, pursuant to which the parties have agreed to terms for resolving the litigation matters against Meta described in Note 5 Contingencies

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 33,976	$ 30,664

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2023
SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of Immersion and our wholly-owned subsidiaries. All intercompany accounts, transactions, and balances have been eliminated in consolidation.
Reclassification	Reclassification Certain prior year amounts have been reclassified to conform with the current year presentation. Restatement of Prior Year's Balance Sheets In 2023 Other current liabilities Other noncurrent liabilities Consolidated Balance Sheets
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with the generally accepted accounting principles in the United States ("GAAP") requires estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results may differ materially from these estimates on an ongoing basis, we evaluate our estimates, including those related to revenue recognition, fair value of financial instruments, income taxes, long-term deposits for withholding taxes and stock-based compensation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.
Foreign Currency Translation	Foreign Currency Translation The functional currency of our foreign subsidiaries is U.S. dollars. Gains and losses from the remeasurement financial statements of the foreign subsidiaries into the U.S. dollars and from foreign currency transactions are reported as Other income (expense), net in our Consolidated Statements of Income and Other Comprehensive Income.
Revenue Recognition	Revenue Recognition Our revenue is primarily derived from fixed fee license agreements and per-unit royalty agreements, along with less significant revenue earned from development, services and other revenue. Fixed fee license revenue We recognize revenue from a fixed fee license agreement when we have satisfied our performance obligations, which typically occurs upon the transfer of rights to our technology upon the execution of the license agreement. However, in certain contracts, we grant a license to our existing patent portfolio at the inception of the license agreement as well as rights to the portfolio as it evolves throughout the contract term. For such arrangements, we have concluded that there are two separate performance obligations: • Performance Obligation A: Transfer of rights to our patent portfolio as it exists when the contract is executed; • Performance Obligation B: Transfer of rights to our patent portfolio as it evolves over the term of the contract, including access to new patent applications that the licensee can benefit from over the term of the contract. If a fixed fee license agreement contains only Performance Obligation A, we recognize the revenue from the agreement at the inception of the contract. For fixed fee license agreements that contain both Performance Obligation A and B, we allocate the transaction price based on the standalone price for each of the two performance obligations. We use a number of factors primarily related to the attributes of our patent portfolio to estimate standalone prices related to Performance Obligation A and B. Once the transaction price is allocated, the portion of the transaction price allocable to Performance Obligation A is recognized in the period the license agreement is signed and the customer can benefit from rights provided in the contract. The portion allocable to Performance Obligation B is recognized on a straight-line basis over the contract term which best represents the ongoing and continuous nature of the patent prosecution process. For such contracts, a contract liability account is established and included within Deferred revenue-current and Deferred Revenue-noncurrent on the Consolidated Balance Sheet s. As the rights and obligations in a contract are interdependent, contract assets and contract liabilities that arise in the same contract are presented on a net basis. Some of our license agreements contain fixed fees related to past infringements. Such fixed fees are recognized as revenue or recorded as a deduction to our operating expense in the quarter the license agreement is signed. Payments for fixed fee license contracts typically are due in full within 30 45 Per-unit Royalty revenue We record per-unit royalty revenue in the same period in which the licensee’s underlying sales occur. When we do not receive the per-unit licensee royalty reports for sales during a given quarter within the time frame that allows us to adequately review the reports and include the actual amounts in our quarterly results for such quarter, we accrue the related revenue based on estimates of our licensees’ underlying sales, subject to certain constraints on our ability to estimate such amounts. We develop such estimates based on a combination of available data including, but not limited to, approved customer forecasts, a look back at historical royalty reporting for each of our customers, and industry information available for the licensed products. As a result of accruing per-unit royalty revenue for the quarter based on such estimates, adjustments will be required in the following quarter to true up revenue to the actual amounts reported by its licensees. In 2023 2022 2022 Certain of our per-unit royalty agreements contain minimum royalty provisions which sets forth minimum amounts to be received by us during the contract term. Under Accounting Standard Codification 606 Revenue from Contracts with Customers , (“ASC 606 minimum royalties as contract assets as Prepaid and other current assets and Other assets, net on our Consolidated Balance Sheets , and the balance of such contract assets will be reduced by the actual royalties to be reported by the licensee during the contract term until fully utilized, after which point any excess per-unit royalties reported are recognized as revenue. As the rights and obligations in a contract are interdependent, contract assets and contract liabilities that arise in the same contract are presented on a net basis. Payments of per-unit royalties typically are due within 30 60 Development, services, and other revenue As the performance obligation related to our development, service and other revenue is satisfied over a period of time, we recognize such revenue evenly over the period of performance obligations, which is generally consistent with the contractual term. Deferred Revenue Deferred revenue consists of amounts that have been invoiced or paid but have not been recognized as revenue. The amounts are primarily derived from our fixed license fee agreements under which we are obliged to transfer both rights to our patent portfolio that exists when the contract is executed and rights to its patent portfolio as it evolves over the contract term. Deferred revenue that will be recognizable during the succeeding 12 Deferred Revenu e- current , and the remaining deferred revenue is recorded as D eferred revenue noncurrent on the Consolidated Balance Sheets .
Fair Value Measurement	Fair Value Measurement We measure the fair value of financial assets as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We use the GAAP fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three are as follows: Level 1 Level 2 bservable inputs other than quoted prices included in Level 1 Level 3
Cash Equivalents and Certificates of deposit	Cash Equivalents We consider all highly liquid instruments with an original maturity of 90 Certificates of deposit Certificate of deposits are reported at fair value and classified as current or noncurrent assets based on their initial maturity days at purchase. Certificates of deposit with original maturity days of 90 91 1 Investment- current . Certificates of deposit with longer than 1 Investments-noncurrent on the Consolidated Balance Sheets .
Investments in Marketable Securities	Investments in Marketable Securities Equity Securities We hold marketable equity investments over which we do not have a controlling interest or significant influence. Our investments in marketable equity securities are classified based on the nature of the securities and their availability for use in current operations. As of December 31, 2023 Investment-current on the Consolidated Balance Sheets . They are measured using quoted prices in active markets with changes recorded in Other income (expense), net on the Consolidated Statements of Income and Other Comprehensive Income. Debt Securities Debt securities primarily consist of investments in corporate bonds and U.S. treasury securities and are classified and accounted for as available-for-sale at the time of purchase. We report marketable debt securities as either Investments-current or Investments-noncurrent on our Consolidated Balance Sheets based on each instrument’s underlying contractual maturity date and management's intended holding period. Unrealized gains on available-for-sale securities are included in Accumulated other Comprehensive income on the Consolidated Balance Sheets Interest and other income (loss), net, Consolidated Statement of Income and Comprehensive Income, Interest and other income (loss), net Consolidated Statements of Income and Comprehensive Income all our available-for-sale debt securities with unrealized loss positions. We elected to exclude the applicable accrued interest from both the fair value and amortized cost basis. Applicable accrued interest, net of the allowance for credit losses (if any), of $0.4 million and $0.2 million, is recorded in Accounts and other receivables Consolidated Balance Sheets 2022 Realized gains and losses from the sales of available-for-sale debt securities are determined based on the specific identification method and are reported in Interest and other income (loss), net Consolidated Statements of Income and Comprehensive Income
Derivative Financial Instruments	Derivative Financial Instruments We invest in derivatives that are not designated as hedging instruments and which consist of call and put options. When we sell call or put options, the premium received is reported as Other current liabilities on our Consolidated Balance Sheets . When we purchase put or call options, the premium paid is reported as Investments-current on our Consolidated Balance Sheets . The carrying value of these options is adjusted to the fair value, measured using the practical expedient of the midpoint of the bid-ask spread, at the end of each reporting period until the options expire. Gains and losses recognized from the periodic adjustments to fair value are recognized as Interest and other income (loss ), net Consolidated Statements of Income and Comprehensive Income .
Accounts and Other Receivables	Accounts and Other Receivables Accounts and other receivables are primarily comprised of trade receivables that are recorded at the invoiced amount, net of an allowance for credit losses. Such accounts receivable have been reduced by an allowance for credit losses, which is our best estimate of the amount of probable credit losses in our existing accounts receivable. We assess our allowance for credit losses on trade receivables by taking into consideration information about past events, such as our historical trend of write-offs, forecasts of future economic conditions, and customer-specific circumstances, such as bankruptcies and disputes. Expense for credit losses on trade receivables is recorded in operating expenses on our Consolidated Statements of Income and Comprehensive Income The allowance for doubtful accounts as of December 31, 2023 and 2022
Leases	Leases We lease our office space under lease arrangements with expiration dates on or before April 25, 2024. Operating leases are accounted for as right-of-use (“ROU”) assets and lease liability obligations in our Consolidated Balance Sheets under Other assets , net, Other current liabilities and Other long-term liabilities , respectively. ROU assets and lease liabilities are recognized at lease commencement date based on the present value of lease payments over the lease term. We elect to combine lease and non-lease components and account for them as a single lease component. As our leases typically do not provide an implicit rate, we estimate our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. ROU assets also include any lease payments made and exclude lease incentives and direct costs. Lease expense is recognized on a straight-line basis over the lease term. We elected to not present leases with an initial term of 12 Consolidated Balance Sheets . Variable lease payments primarily include reimbursements of costs incurred by lessors for common area maintenance and utilities and are expensed as incurred and are not included within the ROU asset and lease liability calculation.
Research and Development	Research and Development Research and development expenses primarily consisted of personnel-related costs, including payroll and stock-based compensation, outside consulting expenses and allocations of corporate overhead expenses. Research and development costs are expensed as incurred.
Legal Proceedings and Litigations	Legal Proceedings and Litigations We are involved in legal proceedings on an ongoing basis. If we believe that a loss arising from such matters is probable and can be reasonably estimated, we accrue the estimated loss in our Consolidated Financial Statement s. If only a range of estimated losses can be determined, we accrue an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we accrue the low end of the range.
Patent Defense Costs	Patent Defense Costs Costs associated with patent applications, patent prosecution, patent defense and the maintenance of patents are charged to expense as incurred.
Income Taxes	Income Taxes We use the asset and liability method of accounting for income taxes. Under this method, income tax expense is recognized for the amount of taxes payable or refundable for the current year. In addition, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carryforwards. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized and are reversed at such a time that realization is believed to be more-likely-than-not.
Stock-based Compensation	Stock-based Compensation We recognize stock-based compensation cost for shares, net of estimated forfeiture over the requisite service period of the award, which is the vesting period. We use the Black-Scholes Merton option pricing model to determine the fair value of stock options and employee stock purchase plan shares. We estimate the fair value of market-performance based stock options and restricted stock units using a Monte Carlo simulation model which requires the input of assumptions, including expected term, stock price volatility and the risk-free rate of return. In addition, judgment is also required in estimating the number of stock-based awards that are expected to be forfeited. Forfeitures are estimated based on historical experience at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.
Concentration of Credit Risk and Significant Customers	Concentrations of Credit Risk and Significant Customers Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, and accounts and other receivables. Deposits held by banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand. We are subject to a concentration of revenues given certain key licensees that contributed a significant portion of our total revenues. See Note 11 Segment Reporting, Geographic Information and Significant Customers of the Notes to Consolidated Financial Statements for more details on customer revenue concentration. We license technology primarily to companies in North America, Europe, and Asia. To reduce credit risk, management performs periodic credit evaluations of the financial conditions of our customer. We periodically evaluate potential credit losses to ensure adequate reserves are maintained, but historically we have not experienced any significant losses related to individual customers or groups of customers in any particular industry or geographic area. As such, our reserves for credit losses for the years ended December 31, 2023 December 31, 2022
Certain Significant Risks and Uncertainties	Certain Significant Risks and Uncertainties We operate in multiple industries and our operations can be affected by a variety of factors. For example, management believes that changes in any of the following areas could have a negative effect on our future financial position and results of operations: · Our competition and the market in which we operate; our customers and suppliers; · Our revenue, trends related thereto and the recognition and components thereof; · Our costs and expenses, · Our investment of surplus funds and sales of marketable securities ; · S easonality and demand; · Our investment in research and technology development; · Changes to general and administrative expenses; · Our foreign operations and the reinvestment of our earnings related thereto; · Our investment in and protection of our IP; · Expiration of haptic technology patents; · Changes in or obsolescence of licensed technology; · Our employees; · Capital expenditures and the sufficiency of our capital resources; · Unrecognized tax benefits and tax liabilities; · The impact of changes in interest rates and foreign exchange rates, as well as our plans with respect to foreign currency hedging in general; · Changes in laws and regulations, including with respect to taxes; and · Our plans related to and the impact of current and future litigation and arbitration;
Segment Information	Segment Information We operate as one operating segment because our Chief Executive Officer, as our chief operating decision maker (“CODM”), The CODM approves budgets and allocates resources to and assesses our business performance using information about our revenue and operating loss. There is only one segment that is reported to management.
Recent Account Pronouncements	Recent Account Pronouncements Not Yet Adopted In December 2023, the Financial Accounting Standard Board (“FASB”) 2023 09 Income Taxes (Topic 740 We are evaluating the impact of this amendment on our consolidated financial statements.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
REVENUE RECOGNITION (Tables)	Dec. 31, 2023
REVENUE RECOGNITION
Disaggregated revenue	The following table presents the disaggregation of our revenue for the years ended December 31, 2023 2022 Years Ended December 31, 2023 2022 Fixed fee license revenue $ 5,283 $ 11,953 Per-unit royalty revenue 28,498 26,225 Total royalty and license revenue 33,781 38,178 Development, services, and other revenue 138 283 Total revenues $ 33,919 $ 38,461

INVESTMENTS AND FAIR VALUE ME_2

INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables)	Dec. 31, 2023
INVESTMENTS AND FAIR VALUE MEASUREMENTS
Schedule of short-term investments	Marketable securities as of December 31, 2023 December 31, 2022 December 31, 2023 Cost or Amortized Cost Unrealized Gains Unrealized Losses Fair Value Marketable equity securities Equity securities $ 59,228 $ 7,896 $ (4,146 ) $ 62,978 Marketable debt securities U.S. treasury securities 53,662 1,307 (3 ) 54,966 Corporate bonds 19,422 472 (197 ) 19,697 Total marketable debt securities 73,084 1,779 (200 ) 74,663 $ 132,312 $ 9,675 $ (4,346 ) $ 137,641 December 31, 2022 Cost or Amortized Cost Unrealized Gains Unrealized Losses Fair Value Marketable equity securities Mutual funds $ 26,352 $ — $ (3,143 ) $ 23,209 Equity securities 53,273 2,776 (5,836 ) 50,213 Total marketable equity securities 79,625 2,776 (8,979 ) 73,422 Marketable debt securities U.S. treasury securities 25,640 182 (24 ) 25,798 Corporate bonds 13,496 48 (106 ) 13,438 Total marketable debt securities 39,136 230 (130 ) 39,236 $ 118,761 $ 3,006 $ (9,109 ) $ 112,658
Debt Securities, Available-for-sale	The amortized costs and fair value of marketable debt securities, by contractual maturity, as of December 31, 2023 December 31, 2022 December 31, 2023 Amortized Fair Less than 1 $ 40,129 $ 41,313 1 5 32,955 33,350 Total $ 73,084 $ 74,663 December 31, 2022 Amortized Fair Less than 1 $ 22,014 $ 22,196 1 5 12,086 11,973 More than 5 5,036 5,067 Total $ 39,136 $ 39,236
Derivatives Not Designated as Hedging Instruments	Our derivative instruments consisted of written put options sold at their fair value as of the balance sheet dates. These derivative instruments are reported as Other current liabilities on our Consolidated Balance Sheets as of December 31, 2023 December 31, 2022 December 31, 2023 Cost Unrealized Gains Fair Value Derivative instruments $ 8,797 $ ( 867 ) $ 7,930 $ 8,797 $ (867 ) $ 7,930 December 31, 2022 Cost Unrealized Losses Fair Value Derivative instruments $ 2,987 $ 662 $ 3,649 $ 2,987 $ 662 $ 3,649
Realized and Unrealized Gains and Losses From Our Equity Securities and Derivative Instruments	A summary of realized and unrealized gains and losses from our equity securities and derivative instruments are as follows (in thousands): Years Ended December 31, 2023 2022 Net unrealized gains (losses) recognized on marketable equity securities $ 9,952 $ ( ) Net realized gains (losses) recognized on marketable equity securities 1,901 (4,085 ) Net realized gains recognized on derivative instruments 3,219 5,493 Net unrealized gains (losses) recognized on derivative instruments 1,426 (662 ) Net realized gains recognized on marketable debt securities 300 734 Total net gains (losses) recognized in interest and other income (loss), net $ 16,798 $ (3,053 )
Schedule of financial instruments measured at fair value on recurring basis	Financial instruments measured at fair value on a recurring basis as of December 31, 2023 and December 31, 2022 are classified based on the valuation technique in the table below (in thousands): December 31, 2023 Fair Value Measurements Using Quoted Prices 1 Significant 2 Significant 3 Total Assets: U.S. treasury securities $ 54,966 $ — $ — $ 54,966 Equity securities 62,977 — — 62,977 Corporate bonds — 19,697 — 19,697 Total assets at fair value $ 117,943 $ 19,697 $ — $ 137,640 Liabilities Derivative instruments $ — $ 7,930 $ — $ 7,930 Total liabilities at fair value $ — $ 7,930 $ — $ 7,930 December 31, 2022 Fair Value Measurements Using Quoted Prices 1 Significant 2 Significant 3 Total Assets: Certificates of deposit $ — $ 5,300 $ — $ 5,300 U.S. treasury securities 25,798 — — 25,798 Mutual funds 23,209 — — 23,209 Equity securities 50,213 — — 50,213 Corporate bonds — 13,438 — 13,438 Total assets at fair value $ 99,220 $ 18,738 $ — $ 117,958 Liabilities Derivative instruments $ — $ 3,649 $ — $ 3,649 Total liabilities at fair value $ — $ 3,649 $ — $ 3,649

BALANCE SHEET DETAILS (Tables)

BALANCE SHEET DETAILS (Tables)	12 Months Ended
BALANCE SHEET DETAILS (Tables)	Dec. 31, 2023
BALANCE SHEET DETAILS
Schedule of cash and cash equivalents	Cash and cash equivalents were as follow (in thousands): December 31, 2023 December 31, 2022 Cash $ 14,840 $ 9,630 Money market funds 41,231 13,586 Certificates of deposit ( 1 — 25,604 Cash and cash equivalents $ 56,071 $ 48,820 ( 1 Represents certificates of deposit with initial maturity days of 90
Schedule of current investments	Investments - current were as follows (in thousands): December 31, 2023 December 31, 2022 Certificates of deposit ( 2 $ — $ 5,300 Equity marketable securities 62,978 73,422 U.S. treasury securities 41,313 22,196 Short-term investments $ 104,291 $ 100,918 ( 2 Represents investments with remaining maturity days between 91 one
Schedule of accounts and other receivables	Accounts and other receivables net, were as follows (in thousands): December 31, 2023 December 31, 2022 Trade accounts receivables $ 1,743 $ 1,003 Other receivables 498 232 Accounts and other receivables $ 2,241 $ 1,235
Schedule of prepaid expenses and other current assets	Prepaid expenses and other current assets were as follows (in thousands): December 31, 2023 December 31, 2022 Prepaid expenses $ 1,916 $ 1,576 Contract assets - current 7,740 7,671 Other current assets 191 100 Prepaid expenses and other current assets $ 9,847 $ 9,347
Schedule of noncurrent investments	Investments- noncurrent are as follows (in thousands): December 31, 2023 December 31, 2022 U.S. treasury securities $ 13,653 $ 3,602 Corporate bonds 19,697 13,438 Investments-noncurrent $ 33,350 $ 17,040
Schedule of other assets, net	Other assets are as follows (in thousands): December 31, 2023 December 31, 2022 Contract assets - noncurrent 110 545 Lease right-of-use assets 36 360 Other assets — 11 Total other assets $ 146 $ 916
Schedule of other current liabilities	Other current liabilities are as follows (in thousands): December 31, 2023 December 31, 2022 Derivative instruments $ 7,930 $ 3,649 Lease liabilities -\current 39 486 Income taxes payable 1,730 1,279 Dividends payable 1,489 4,212 Other current liabilities 712 1,418 Total other current liabilities $ 11,900 $ 11,044

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
STOCK-BASED COMPENSATION (Tables)	Dec. 31, 2023
STOCK-BASED COMPENSATION
Summary of equity incentive program	A summary of our equity incentive program as of December 31, 2023 Common stock shares available for grant 4341 Stock options outstanding — RSUs outstanding 1,128 RSAs outstanding 75 PSUs outstanding 400
Summary of time-based stock options	The following summarizes activities for the time-based stock options for the years ended December 31, 2023 Number of Shares Weighted Average Weighted Average Aggregate Outstanding at December 31, 2022 140 $ 7.57 4.03 $ — Granted — — Exercised (21 ) 7.54 Canceled or expired (119 ) 7.57 Outstanding as of December 31, 2023 — $ — — $ — Vested and expected to vest at December 31, 2023 — $ — — $ — Exercisable at December 31, 2023 — $ — — $ —
Summary of restricted stock units activities	The following summarizes RSU activities for the year ended December 31, 2023 Number of Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Weighted Average Aggregate Outstanding at December 31, 2022 887 $ 5.85 1.31 $ 6,226 Granted 527 7.16 Released (234 ) 5.10 Forfeited (52 ) 6.91 Outstanding at December 31, 2023 1,128 $ 6.57 1.05 $ 7,964
Summary of restricted stock awards activities	The following summarizes RSA activities for the year ended December 31, 2023 Number of Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share Weighted Average Remaining Recognition Period Outstanding at December 31, 2022 119 $ 5.47 0.39 Granted 75 8.31 Released (119 ) 5.47 Forfeited — — Outstanding at December 31, 2023 75 $ 8.31 0.24
Summary of market condition-based performance restricted stock units (“PSUs”) activities	The following summarizes PSU activities for the year ended December 31, 2023 Number of Market Condition-Based Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Weighted Average Remaining Recognition Period Outstanding at December 31, 2022 615 $ 3.69 1.12 Granted — — Released (206 ) 3.73 Forfeited (9 ) 6.20 Outstanding at December 31, 2023 400 $ 3.63 0.00
Summary of assumptions used to value market condition-based restricted stock units granted	The assumptions used to value market condition-based restricted stock units granted during the year ended December 31, 2022 under our equity incentive program are as follows: Year Ended December 31, 2022 Expected life (in years) 1.2 Volatility 58 % Interest rate 1.7 % Dividend yield —
Summary of stock-based compensation expenses	The stock-based compensation related to all of our stock-based awards and ESPP for the year ended December 31, 2023 2022 Years Ended December 31, 2023 2022 Stock options $ (30 ) $ 120 RSUs, RSAs and PSUs 3,425 3,295 ESPP — 2 Total $ 3,395 $ 3,417 Sales and marketing $ 412 $ 61 Research and development (69 ) 117 General and administrative 3,052 3,239 Total $ 3,395 $ 3,417

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2023
INCOME TAXES
Schedule of income tax provisions	Benefit from (provision for) income taxes the years ended December 31, 2023 2022 Years Ended December 31, 2023 2022 Income before provision for (benefit from) income taxes 42,915 26,965 Provision for (benefit from) income taxes 8,939 (3,699 ) Effective tax rate 20.8 % 13.7 %
Schedule of pre-tax book income or loss from continuing operations	The components of our income before benefit from (provision for) income taxes were as follows (in thousands): Years Ended December 31, 2023 2022 Domestic $ 30,458 $ 14,552 Foreign 12,457 12,413 Total $ 42,915 $ 26,965
Schedule of provisions for income taxes	The benefit from (provision for) income taxes consisted of the following (in thousands): Years Ended December 31, 2023 2022 Current: U.S. federal $ 3,554 $ 458 States and local 236 74 Foreign 1,621 871 Total current 5,411 1,403 Deferred: U.S. federal 2,921 (5,694 ) States and local — — Foreign 607 592 Total deferred 3,528 (5,102 ) Total benefit from (provision for) income taxes $ 8,939 $ (3,699 )
Details of significant components of net deferred tax assets and liabilities	Significant components of the net deferred tax assets and liabilities consisted of (in thousands): December 31, 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 4,785 $ 5,391 State income taxes 50 15 Deferred revenue 2,769 3,498 Research and development and other credits 3,701 3,757 Reserve and accruals recognized in different periods (563 ) 1,692 Capitalized research and development expenses 2,850 3,019 Depreciation and amortization 587 1,802 Lease liability 7 104 Total deferred tax assets 14,186 19,278 Valuation allowance (10,837 ) (12,341 ) Net deferred tax assets 3,349 6,937 Deferred tax liabilities: Right of use lease assets (6 ) (67 ) Total deferred tax liabilities (6 ) (67 ) Net deferred taxes $ 3,343 $ 6,870
Reconciliation between provision for income taxes at statutory rate and effective tax rate	The reconciliation of federal statutory income tax rate to our effective tax rate was as follows (in thousands): Years Ended December 31, 2023 2022 Federal statutory rate 21.0 % 21.0 % Foreign withholding 0.7 % 0.3 % Stock-based compensation expense (0.7) % 0.3 % Foreign rate differential (2.1) % (2.3) % Prior year true-up items — % (0.9) % Tax reserves 4.0 % 5.3 % FTC (6.0) % 1.4 % Other 0.6 % 0.7 % State taxes, net of federal benefit 0.2 % 0.2 % Global intangible low-taxed income 3.8 % 6.4 % Nondeductible officers compensation 2.8 % 1.1 % Valuation allowance (3.5) % (47.2) % Effective tax rate 20.8 % (13.7) %
Reconciliation of beginning and ending amount of gross unrecognized tax benefits	A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands): Years Ended December 31, 2023 2022 Balance at beginning of year 7,093 7,569 Gross increases for tax positions of prior years — 647 Gross decreases for federal tax rate change for tax positions of prior years 125 (2,170 ) Gross increases for tax positions of current year 272 1,146 Lapse of statute of limitations — (99 ) Balance at end of year 7,490 7,093

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	12 Months Ended
NET INCOME (LOSS) PER SHARE (Tables)	Dec. 31, 2023
NET INCOME (LOSS) PER SHARE
Schedule of reconciliation used in computing basic and diluted net income per share	The following is a reconciliation of the denominators used in computing basic and diluted net income (loss) per share (in thousands, except per share amounts): Years Ended December 31, 2023 2022 Denominator: Weighted-average shares outstanding, basic 32,214 33,280 Shares related to outstanding options, unvested RSUs, RSAs, PSUs and ESPP 322 228 Weighted average shares outstanding, diluted 32,536 33,508

LEASES (Tables)

LEASES (Tables)	12 Months Ended
LEASES (Tables)	Dec. 31, 2023
LEASES
Summary of ROU assets and lease liabilities	Below is a summary of our right-of-use (“ROU”) Balance Sheets Classification December 31, 2023 December 31, 2022 Assets Right-of-use assets Other assets $ 36 $ 360 Liabilities Operating lease liabilities - current Other current liabilities 39 486 Operating lease liabilities - long-term Other long-term liabilities — 56 Total lease liabilities $ 39 $ 542
Schedule of Supplemental Information to Operating Lease Expense	The table below provides supplemental information related to operating leases during the years ended December 31, 2023 2022 Years Ended December 31, 2023 2022 Cash paid within operating cash flow 38 $ 1,264 Weighted average lease terms (in years) 0.20 0.70 Weighted average discount rates N/A 3.93 %
Schedule of supplemental information related to operating leases and expenses	During the year ended December 31, 2023 2022 Years Ended 2023 2022 Operating lease costs $ 555 $ 906 Variable lease payments 18 426 Sublease income (544 ) (1,143 ) Total lease cost (income) $ 29 $ 189
Schedule of minimum future lease payment obligations	Minimum future lease payments obligations as of December 31, 2023 For the Years Ending December 31, 2024 39 Total lease payments 39 Less: Interest — Total lease liability $ 39
Schedule of future cash receipts from our sublease agreements	Future cash receipts from our sublease agreements as of December 31, 2023 For the Years Ending December 31, 2024 34 Total $ 34

SEGMENT REPORTING, GEOGRAPHIC_2

SEGMENT REPORTING, GEOGRAPHIC INFORMATION, AND SIGNIFICANT CUSTOMERS (Tables)	12 Months Ended
	Dec. 31, 2023
SEGMENT REPORTING, GEOGRAPHIC INFORMATION, AND SIGNIFICANT CUSTOMERS
Revenue from External Customers by Products and Services	The following is a summary of revenues by market areas. Revenue as a percentage of total revenues by market are as follows: Years Ended December 31, 2023 2022 Mobile, Wearables, and Consumer 41 % 60 % Gaming Devices 32 21 Automotive 22 13 Other 5 6 Total 100 % 100 %
Revenue from External Customers by Geographic Areas	Revenues are broken out geographically by the location of the customer. A summary of revenue by region as a percentage of total revenues are as follows: Years Ended December 31, 2023 2022 Asia 74 % 62 % Europe 17 10 North America 9 28 Total 100 % 100 % A summary of revenue by country as a percentage of total revenues are as follows: Years Ended December 31, 2023 2022 Japan 39 % 27 % Korea 32 33 Germany 15 7 United States of America 9 28 Other countries with less than 10 5 5 Total 100 % 100 %
Property, Plant, And Equipment, Geographic Percentage Of Total Property	Property and equipment, net by geographic areas as a percentage of total property and equipment, net are as follows: December 31, 2023 2022 Canada 96 % 97 % United States of America 2 2 Rest of World 2 1 Total 100 % 100 %
Schedules of concentration risk	A summary of customers with 10% or greater of our outstanding accounts and other receivables are as follows: Years Ended December 31, 2023 2022 Customer A 81 % 60 % Customer B 14 % * % Customer C * 21 % * Represents less than 10

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES - Narrative (Detail) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) Segment
SIGNIFICANT ACCOUNTING POLICIES
Deferred tax liabilities reclassified from Other current liabilities to Other noncurrent liabilities to conform with the current year presentation									$ 1.4
Royalty revenue, adjustment	$ 0.8	$ 0.5	$ 0.3	$ 0.4	$ 0.5	$ (0.2)	$ 0.5	$ 0.3
Debt Securities, available-for-sale, accrued interest, net of the allowance for credit losses	$ 0.4				$ 0.2				$ 0.4
Debt Securities, available-for-sale, accrued interest, net of the allowance for credit losses, Statement of Financial Position [Extensible Enumeration]					Prepaid expenses and other current assets
Number of performance obligations									2
Number of operating segments \| Segment									1
Number of reportable segments \| Segment									1

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregated Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total royalty and license revenue	$ 33,919	$ 38,461
Total royalty and license revenue
Disaggregation of Revenue [Line Items]
Total royalty and license revenue	33,781	38,178
Fixed fee license revenue
Disaggregation of Revenue [Line Items]
Total royalty and license revenue	5,283	11,953
Per-unit royalty revenue
Disaggregation of Revenue [Line Items]
Total royalty and license revenue	28,498	26,225
Development, services, and other revenue
Disaggregation of Revenue [Line Items]
Total royalty and license revenue	$ 138	$ 283

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVENUE RECOGNITION
Contract assets - current	$ 7,740	$ 7,671	$ 12,400
Contract assets - noncurrent	110	545	$ 1,700
Increase (decrease) in contract with customer, asset	$ (700)	$ (5,900)

REVENUE RECOGNITION - Performan

REVENUE RECOGNITION - Performance Obligation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, period increase (decrease)		$ 0.8
Deferred revenue, revenue recognized	$ 4.8	4.9
Performance Obligation B
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	12.6	$ 17.4	$ 21.5
Performance Obligation B \| One to three years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	9.6
Performance Obligation B \| More than three years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 3

INVESTMENTS AND FAIR VALUE ME_3

INVESTMENTS AND FAIR VALUE MEASUREMENTS - NARRATIVE (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, total aggregated loss	$ 0.2	$ 0.3
Debt securities, available-for-sale, credit-related impairment loss	0	0
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities in unrealized loss position, Total	7.1	13.3
U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities in unrealized loss position, Total	$ 2.7	$ 2.7

INVESTMENTS AND FAIR VALUE ME_4

INVESTMENTS AND FAIR VALUE MEASUREMENTS - AMORTIZED COST (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt and Equity Securities, FV-NI
Cost or Amortized Cost	$ 132,312	$ 118,761
Unrealized Gains	9,675	3,006
Unrealized Losses	(4,346)	(9,109)
Fair Value	137,641	112,658
Marketable equity securities
Debt and Equity Securities, FV-NI
Cost or Amortized Cost		79,625
Unrealized Gains		2,776
Unrealized Losses		(8,979)
Fair Value		73,422
Marketable equity securities \| Mutual funds
Debt and Equity Securities, FV-NI
Cost or Amortized Cost		26,352
Unrealized Gains		0
Unrealized Losses		(3,143)
Fair Value		23,209
Marketable equity securities \| Equity securities
Debt and Equity Securities, FV-NI
Cost or Amortized Cost	59,228	53,273
Unrealized Gains	7,896	2,776
Unrealized Losses	(4,146)	(5,836)
Fair Value	62,978	50,213
Marketable debt securities
Debt and Equity Securities, FV-NI
Cost or Amortized Cost	73,084	39,136
Unrealized Gains	1,779	230
Unrealized Losses	(200)	(130)
Fair Value	74,663	39,236
Marketable debt securities \| U.S. treasury securities
Debt and Equity Securities, FV-NI
Cost or Amortized Cost	53,662	25,640
Unrealized Gains	1,307	182
Unrealized Losses	(3)	(24)
Fair Value	54,966	25,798
Marketable debt securities \| Corporate bonds
Debt and Equity Securities, FV-NI
Cost or Amortized Cost	19,422	13,496
Unrealized Gains	472	48
Unrealized Losses	(197)	(106)
Fair Value	$ 19,697	$ 13,438

INVESTMENTS AND FAIR VALUE ME_5

INVESTMENTS AND FAIR VALUE MEASUREMENTS - AMORTIZED COST AND FAIR VALUE BY MATURITY (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized Cost
Less than 1 year	$ 40,129	$ 22,014
1 to 5 years	32,955	12,086
More than 5 years		5,036
Total	73,084	39,136
Fair Value
Less than 1 year	41,313	22,196
1 to 5 years	33,350	11,973
More than 5 years		5,067
Total	$ 74,663	$ 39,236

INVESTMENTS AND FAIR VALUE ME_6

INVESTMENTS AND FAIR VALUE MEASUREMENTS - DERIVATIVE INSTRUMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivative instruments, cost	$ 8,797	$ 2,987
Derivative instruments, Unrealized Gains (Losses)	(867)	662
Derivative instruments at fair value	$ 7,930	$ 3,649
Derivative Liability, Statement of Financial Position	Other noncurrent liabilities	Other noncurrent liabilities
Exchange Traded Options [Member]
Derivatives, Fair Value [Line Items]
Derivative instruments, cost	$ 8,797	$ 2,987
Derivative instruments, Unrealized Gains (Losses)	(867)	662
Derivative instruments at fair value	$ 7,930	$ 3,649

INVESTMENTS AND FAIR VALUE ME_7

INVESTMENTS AND FAIR VALUE MEASUREMENTS - REALIZED AND UNREALIZED GAINS AND LOSSES EQUITY AND DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
INVESTMENTS AND FAIR VALUE MEASUREMENTS
Net unrealized gains (losses) recognized on marketable equity securities	$ 9,952	$ (4,533)
Net realized gains (losses) recognized on marketable equity securities	1,901	(4,085)
Net realized gains recognized on derivative instruments	3,219	5,493
Net unrealized gains (losses) recognized on derivative instruments	1,426	(662)
Net realized gains recognized on marketable debt securities	300	734
Total net gains (losses) recognized in interest and other income (loss), net	$ 16,798	$ (3,053)

INVESTMENTS AND FAIR VALUE ME_8

INVESTMENTS AND FAIR VALUE MEASUREMENTS - FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON RECURRING BASIS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets, Fair Value Disclosure [Abstract]
Equity marketable securities	$ 62,978	$ 73,422
Liabilities, Fair Value Disclosure [Abstract]
Derivative instruments	$ 7,930	$ 3,649
Derivative Liability, Statement of Financial Position	Other noncurrent liabilities	Other noncurrent liabilities
Fair value, measurements, recurring
Assets, Fair Value Disclosure [Abstract]
Certificates of deposit		$ 5,300
U.S. treasury securities	$ 54,966	25,798
Mutual funds		23,209
Equity marketable securities	62,977	50,213
Corporate bonds	19,697	13,438
Total assets at fair value	137,640	117,958
Liabilities, Fair Value Disclosure [Abstract]
Derivative instruments	7,930	3,649
Total liabilities at fair value	7,930	3,649
Fair value, measurements, recurring \| Fair Value, Inputs, Level 1
Assets, Fair Value Disclosure [Abstract]
Certificates of deposit		0
U.S. treasury securities	54,966	25,798
Mutual funds		23,209
Equity marketable securities	62,977	50,213
Corporate bonds	0	0
Total assets at fair value	117,943	99,220
Liabilities, Fair Value Disclosure [Abstract]
Derivative instruments	0	0
Total liabilities at fair value	0	0
Fair value, measurements, recurring \| Fair Value, Inputs, Level 2
Assets, Fair Value Disclosure [Abstract]
Certificates of deposit		5,300
U.S. treasury securities	0	0
Mutual funds		0
Equity marketable securities	0	0
Corporate bonds	19,697	13,438
Total assets at fair value	19,697	18,738
Liabilities, Fair Value Disclosure [Abstract]
Derivative instruments	7,930	3,649
Total liabilities at fair value	7,930	3,649
Fair value, measurements, recurring \| Fair Value, Inputs, Level 3
Assets, Fair Value Disclosure [Abstract]
Certificates of deposit		0
U.S. treasury securities	0	0
Mutual funds		0
Equity marketable securities	0	0
Corporate bonds	0	0
Total assets at fair value	0	0
Liabilities, Fair Value Disclosure [Abstract]
Derivative instruments	0	0
Total liabilities at fair value	$ 0	$ 0

BALANCE SHEET DETAILS - Cash an

BALANCE SHEET DETAILS - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents, at Carrying Value [Abstract]
Cash		$ 14,840	$ 9,630
Money market funds		41,231	13,586
Certificates of deposit	[1]	0	25,604
Cash and cash equivalents		$ 56,071	$ 48,820

[1] Represents certificates of deposit with initial maturity days of 90

BALANCE SHEET DETAILS - Current

BALANCE SHEET DETAILS - Current Investments (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
BALANCE SHEET DETAILS
Certificates of deposit	[1]	$ 0	$ 5,300
Equity marketable securities		62,978	73,422
U.S. treasury securities		41,313	22,196
Short-term investments		$ 104,291	$ 100,918

[1] Represents investments with remaining maturity days between 91 one

BALANCE SHEET DETAILS - Account

BALANCE SHEET DETAILS - Accounts and Other Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Trade accounts receivables	$ 1,743	$ 1,003
Other receivables	498	232
Accounts and other receivables	$ 2,241	$ 1,235

BALANCE SHEET DETAILS - Prepaid

BALANCE SHEET DETAILS - Prepaid Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
BALANCE SHEET DETAILS
Prepaid expenses	$ 1,916	$ 1,576
Contract assets - current	7,740	7,671	$ 12,400
Other current assets	191	100
Prepaid expenses and other current assets	$ 9,847	$ 9,347

BALANCE SHEET DETAILS - Noncurr

BALANCE SHEET DETAILS - Noncurrent Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
BALANCE SHEET DETAILS
U.S. treasury securities	$ 13,653	$ 3,602
Corporate bonds	19,697	13,438
Investments- noncurrent	$ 33,350	$ 17,040

BALANCE SHEET DETAILS - Other A

BALANCE SHEET DETAILS - Other Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Assets, Net [Abstract]
Contract assets - noncurrent	$ 110	$ 545	$ 1,700
Lease right-of-use assets	36	360
Other assets	0	11
Total other assets	$ 146	$ 916

BALANCE SHEET DETAILS - Other C

BALANCE SHEET DETAILS - Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities, Current [Abstract]
Derivative instruments	$ 7,930	$ 3,649
Lease liabilities - current	39	486
Income taxes payable	1,730	1,279
Dividends payable	1,489	4,212
Other current liabilities	712	1,418
Total other current liabilities	$ 11,900	$ 11,044

BALANCE SHEET DETAILS - Narrati

BALANCE SHEET DETAILS - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
BALANCE SHEET DETAILS
Total other noncurrent liability	$ 4,926	$ 1,856

CONTINGENCIES (Details)

CONTINGENCIES (Details) $ in Millions					1 Months Ended		3 Months Ended
CONTINGENCIES (Details) $ in Millions	Jun. 02, 2023 KRW (₩)	Jun. 02, 2023 USD ($)	Apr. 08, 2020 KRW (₩)	Apr. 08, 2020 USD ($)	Mar. 31, 2022 KRW (₩)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($)
Withholding taxes on royalty payments \| LGE \| Pending Litigation \| Korean tax authority [Member]
Loss Contingencies [Line Items]
Loss contingency, accrued withholding taxes, interest and penalties								$ 0.3
Impairment of long-term deposits							$ 0.8
Long-term deposits	₩ 3,024,877,044	$ 2.3	₩ 5,916,845,454	$ 5
Samsung
Loss Contingencies [Line Items]
Impairment of long-term deposits						$ 1.3
Reimbursed penalties					₩ 6,088,855,388	$ 5

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) $ in Thousands				3 Months Ended	12 Months Ended
	Mar. 30, 2023 shares	Feb. 01, 2023 shares	Jan. 18, 2022 shares	Mar. 31, 2023	Dec. 31, 2023 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of available shares consumed for each restricted stock and restricted stock units issued			1.75
Unrecognized compensation cost \| $					$ 4,400
Unrecognized compensation cost, recognized over an estimated weighted-average period					2 years
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based payment award vesting period			4 years
Employee Stock Option \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	8,146,607		3,525,119
Increase in number of common shares reserved for issuance (in shares)	855,351		855,351
Employee Stock Option \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based payment award expiration period			7 years
RSAs outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based payment award vesting period			1 year
RSUs outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based payment award vesting period			3 years
Market Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights				The right to one share of our common stock with vesting subject to: (a) the achievement of specified levels of the volume weighted average closing prices of our common stock during any 100 day-period between January 1, 2022 and January 1, 2027, subject to certification by the Compensation Committee (“Performance Milestones”); and (b) continued employment with us through the later of each achievement date or service vesting date, which occurs over a three (3) year period commencing on January 1, 2022.
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized					1,000,000
Stock-based payment award expiration period					6 months
Percentage of fair market value on the purchase date					85%
Maximum number of shares per employee (in shares)					2,000
Maximum value of shares per employee \| $					$ 25,000
Shares purchased under the ESPP (in shares)					1,298
Shares forfeited		193,134

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary of Equity Incentive Program (Details) - shares shares in Thousands	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares available for grant (in shares)	4,341
Time-based stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Standard and market condition-based stock options outstanding (in shares)	0	140
RSUs outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive shares outstanding (in shares)	1,128	887
RSAs outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive shares outstanding (in shares)	75	119
Market Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive shares outstanding (in shares)	400

STOCK-BASED COMPENSATION - Su_2

STOCK-BASED COMPENSATION - Summary of Time-based Stock Options (Details) - Time-based stock options - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of Shares Underlying Stock Options
Beginning outstanding balance (in shares)	140
Granted (in shares)	0
Exercised (in shares)	(21)
Canceled or expired (in shares)	(119)
Ending outstanding balance (in shares)	0	140
Number of shares underlying stock options, vested and expected to vest (in shares)	0
Number of shares underlying stock options, exercisable (in shares)	0
Weighted Average Exercise Price Per Share
Beginning outstanding balance (in dollars per share)	$ 7.57
Granted (in dollars per share)	0
Exercised (in dollars per share)	7.54
Canceled or expired (in dollars per share)	7.57
Ending outstanding balance (in dollars per share)	0	$ 7.57
Weighted average exercise price, vested and expected to vest (in dollars per share)	0
Weighted average exercise price, exercisable (in dollars per share)	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average remaining contractual life, outstanding		4 years 10 days
Aggregate intrinsic value, outstanding	$ 0	$ 0
Aggregate intrinsic value, vested and expected to vest	0
Aggregate intrinsic value, exercisable	$ 0

STOCK-BASED COMPENSATION - Su_3

STOCK-BASED COMPENSATION - Summary of Restricted Stock Units and Restricted Stock Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
RSUs outstanding
Number of Restricted Stock Units / Awards
Beginning outstanding balance (in shares)	887,000
Granted (in shares)	527,000
Released (in shares)	(234,000)
Forfeited (in shares)	(52,000)
Ending outstanding balance (in shares)	1,128,000	887,000
Weighted Average Grant Date Fair Value
Beginning outstanding balance (in dollars per share)	$ 5.85
Granted (in dollars per share)	7.16
Released (in dollars per share)	5.1
Forfeited (in dollars per share)	6.91
Ending outstanding balance (in dollars per share)	$ 6.57	$ 5.85
Share-based Compensation Arrangement by Share-based Payment Award, Additional Disclosures [Abstract]
Weighted average remaining contractual life / recognition period, outstanding	1 year 18 days	1 year 3 months 21 days
Aggregate intrinsic value, outstanding	$ 7,964	$ 6,226
RSAs outstanding
Number of Restricted Stock Units / Awards
Beginning outstanding balance (in shares)	119,000
Granted (in shares)	75
Released (in shares)	(119,000)
Forfeited (in shares)	0
Ending outstanding balance (in shares)	75,000	119,000
Weighted Average Grant Date Fair Value
Beginning outstanding balance (in dollars per share)	$ 5.47
Granted (in dollars per share)	8.31
Released (in dollars per share)	5.47
Forfeited (in dollars per share)	0
Ending outstanding balance (in dollars per share)	$ 8.31	$ 5.47
Share-based Compensation Arrangement by Share-based Payment Award, Additional Disclosures [Abstract]
Weighted average remaining contractual life / recognition period, outstanding	2 months 26 days	4 months 20 days

STOCK-BASED COMPENSATION - PSU

STOCK-BASED COMPENSATION - PSU Activity (Details) - Performance Shares - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning outstanding balance (in shares)		615,000
Granted (in shares)	600,000	0
Released (in shares)		(206,000)
Forfeited (in shares)		(9,000)
Ending outstanding balance (in shares)		400,000	615,000
Weighted Average Grant Date Fair Value
Beginning outstanding balance (in dollars per share)		$ 3.69
Granted (in dollars per share)		0
Released (in dollars per share)		3.73
Forfeited (in dollars per share)		6.2
Ending outstanding balance (in dollars per share)		$ 3.63	$ 3.69
Share-based Compensation Arrangement by Share-based Payment Award, Additional Disclosures [Abstract]
Weighted average remaining contractual life / recognition period, outstanding		0 years	1 year 1 month 13 days

STOCK-BASED COMPENSATION - Su_4

STOCK-BASED COMPENSATION - Summary of Stock-based Compensation Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation, total	$ 3,395	$ 3,417
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation, total	412	61
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation, total	(69)	117
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation, total	3,052	3,239
Employee Stock Option
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation, total	(30)	120
RSUs, RSAs and PSUs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation, total	3,425	3,295
Employee stock purchase plan
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation, total	$ 0	$ 2

STOCK-BASED COMPENSATION - Valu

STOCK-BASED COMPENSATION - Valuation Assumptions (Details) - Performance Shares	12 Months Ended
	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (in years)	1 year 2 months 12 days
Volatility	58%
Interest rate	1.70%
Dividend yield	0%

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions

12 Months Ended

Mar. 07, 2024

Nov. 13, 2023

Aug. 11, 2023

Aug. 08, 2023

May 10, 2023

Feb. 21, 2023

Dec. 29, 2022

Nov. 14, 2022

Feb. 23, 2022

Feb. 14, 2022

Dec. 31, 2023

Dec. 31, 2022

Class of Stock [Line Items]

Treasury stock, common (in shares)

16,107,296

14,727,582

Dividends paid (in dollars per share)

$ 0.03

Special dividends paid (in dollards per share)

$ 0.1

Dividends payable (in dollars per share)

$ 0.045

Dividends payable, Date to be Paid

Apr. 19, 2024

Jan. 25, 2024

Dividends payable, Date of record

Apr. 12, 2024

Jan. 14, 2024

Dividends paid

$ 7.4

Common Stock | Stock Repurchase Program | Maximum

Class of Stock [Line Items]

Stock repurchase program, authorized amount

$ 50

$ 30

Stock Repurchase Program, Period in Force

12 months

Common Stock | December 2022 Stock Repurchase Program

Class of Stock [Line Items]

Repurchase of stock (in shares)

1,217,774

1,637,566

Repurchased shares, value

$ 8.3

$ 8.9

Stock repurchase program, average cost (in dollars per share)

$ 6.77

$ 5.46

Stock repurchase program, remaining authorized repurchase amount

$ 41.7

Common Stock | December 2022 Stock Repurchase Program | Minimum

Class of Stock [Line Items]

Stock repurchase program expiration date

Dec. 29, 2023

Common Stock | December 2022 Stock Repurchase Program | Maximum

Class of Stock [Line Items]

Stock repurchase program expiration date

Dec. 29, 2024

Invenomic Capital Management LP

Class of Stock [Line Items]

Ownership interest

4.99%

Invenomic Capital Management LP

Class of Stock [Line Items]

Treasury stock, common (in shares)

904,499

Stock repurchase program, average cost (in dollars per share)

$ 4.725

Stock repurchased during period, value

$ 4.3

Closing price of common stock (price per share)

$ 4.8

INCOME TAXES - Schedule of Inco

INCOME TAXES - Schedule of Income Tax Provisions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
INCOME TAXES
Income before provision for (benefit from) income taxes	$ 42,915	$ 26,965
Provision for (benefit from) income taxes	$ 8,939	$ (3,699)
Effective tax rate	20.80%	(13.70%)

INCOME TAXES - Details of Pre-T

INCOME TAXES - Details of Pre-Tax Book Income or Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
INCOME TAXES
Domestic	$ 30,458	$ 14,552
Foreign	12,457	12,413
Income before benefit from (provision for) income taxes	$ 42,915	$ 26,965

INCOME TAXES - Summary of Provi

INCOME TAXES - Summary of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Current:
U.S. federal	$ 3,554	$ 458
States and local	236	74
Foreign	1,621	871
Total current	5,411	1,403
Deferred:
U.S. federal	2,921	(5,694)
States and local	0	0
Foreign	607	592
Total deferred	3,528	(5,102)
Benefit from (provision for) income taxes	$ 8,939	$ (3,699)

INCOME TAXES - Details of Signi

INCOME TAXES - Details of Significant Components of Net Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss carryforwards	$ 4,785	$ 5,391
State income taxes	50	15
Deferred revenue	2,769	3,498
Research and development and other credits	3,701	3,757
Reserve and accruals recognized in different periods	(563)	1,692
Capitalized research and development expenses	2,850	3,019
Depreciation and amortization	587	1,802
Lease liability	7	104
Total deferred tax assets	14,186	19,278
Valuation allowance	(10,837)	(12,341)
Net deferred tax assets	3,349	6,937
Deferred tax liabilities:
Right of use lease assets	(6)	(67)
Total deferred tax liabilities	(6)	(67)
Net deferred taxes	$ 3,343	$ 6,870

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Unrecognized tax benefits, income tax penalties and interest accrued	$ 0.3	$ 0.2
Total amount of unrecognized tax benefits	4.9
Foreign tax authority
Income Tax Contingency [Line Items]
Net operating loss carryforwards	0
Foreign tax authority \| Canada \| Research and development
Income Tax Contingency [Line Items]
Tax credit carryforwards	1.7
Federal
Income Tax Contingency [Line Items]
Tax credit carryforwards	2
State and local
Income Tax Contingency [Line Items]
Net operating loss carryforwards	53
Tax credit carryforwards	$ 2.5

INCOME TAXES - Reconciliation B

INCOME TAXES - Reconciliation Between the Benefit (Provision) for Income Taxes at Statutory Rate and Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Federal statutory rate	21%	21%
Foreign withholding	0.70%	0.30%
Stock-based compensation expense	(0.70%)	0.30%
Foreign rate differential	(2.10%)	(2.30%)
Prior year true-up items	0%	(0.90%)
Tax reserves	4%	5.30%
FTC	(6.00%)	1.40%
Other	0.60%	0.70%
State taxes, net of federal benefit	0.20%	0.20%
Global intangible low-taxed income	3.80%	6.40%
Nondeductible officers compensation	2.80%	1.10%
Valuation allowance	(3.50%)	(47.20%)
Effective tax rate	20.80%	(13.70%)

INCOME TAXES - Details of Begin

INCOME TAXES - Details of Beginning and Ending Amount of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 7,093	$ 7,569
Gross increases for tax positions of prior years	0	647
Gross decreases for federal tax rate change for tax positions of prior years	125	(2,170)
Gross increases for tax positions of current year	272	1,146
Lapse of statute of limitations	0	(99)
Balance at end of year	$ 7,490	$ 7,093

NET INCOME (LOSS) PER SHARE - R

NET INCOME (LOSS) PER SHARE - Reconciliation used in Computing Basic and Diluted Net Income (Loss) per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
NET INCOME (LOSS) PER SHARE
Weighted-average shares outstanding, basic (in shares)	32,214	33,280
Shares related to outstanding options, unvested RSUs, RSAs, PSUs and ESPP (in shares)	322	228
Weighted average shares outstanding, diluted (in shares)	32,536	33,508

NET INCOME (LOSS) PER SHARE - N

NET INCOME (LOSS) PER SHARE - Narrative (Details) - shares	12 Months Ended
NET INCOME (LOSS) PER SHARE - Narrative (Details) - shares	Dec. 31, 2023	Dec. 31, 2022
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options to purchase shares of common stock (in shares)	0	200,000
RSUs, RSAs and PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options to purchase shares of common stock (in shares)	0	25,000

LEASES - Narrative (Details)

LEASES - Narrative (Details)	Jun. 06, 2022 USD ($)	Mar. 12, 2020 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 31, 2022 USD ($) ft²
Lessee, Lease, Description [Line Items]
Sublease, initial direct costs		$ 300,000
Total lease liability			$ 39,000	$ 542,000
Weighted average discount rates				3.93%
Right-of-use assets			$ 36,000	$ 360,000
Innovobot
Lessee, Lease, Description [Line Items]
Sublease, initial direct costs	$ 23,000
Aventura Florida Facility
Lessee, Lease, Description [Line Items]
Area (in square feet) \| ft²					1,390
Total lease liability					$ 100,000
Weighted average discount rates					3.93%
Right-of-use assets					$ 100,000

LEASES - Summary of Right of Us

LEASES - Summary of Right of Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Right-of-use assets	$ 36	$ 360
Liabilities
Operating lease liabilities - current	39	486
Operating lease liabilities - long-term	0	56
Total lease liabilities	$ 39	$ 542
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other noncurrent liabilities	Other noncurrent liabilities

LEASES - Schedule of Supplement

LEASES - Schedule of Supplemental Information Related To Operating Leases and Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
LEASES
Cash paid within operating cash flow	$ 38	$ 1,264
Weighted average lease terms (in years)	2 months 12 days	8 months 12 days
Weighted average discount rates		3.93%

LEASES - Schedule of Net Operat

LEASES - Schedule of Net Operating Lease Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
LEASES
Operating lease costs	$ 555	$ 906
Variable lease payments	18	426
Sublease income	(544)	(1,143)
Total lease cost (income)	$ 29	$ 189

LEASES - Schedule of Minimum Fu

LEASES - Schedule of Minimum Future Lease Payment Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2024	$ 39
Total lease payments	39
Less: Interest	0
Total lease liability	$ 39	$ 542

LEASES - Future Minimum Subleas

LEASES - Future Minimum Sublease Payments 840 (Details) $ in Thousands	Dec. 31, 2023 USD ($)
LEASES
2024	$ 34
Total	$ 34

SEGMENT REPORTING, GEOGRAPHIC_3

SEGMENT REPORTING, GEOGRAPHIC INFORMATION, AND SIGNIFICANT CUSTOMERS - Schedule of Revenue by Market Areas (Detail) - Revenues - Market area	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Concentration risk	100%	100%
Mobile, Wearables, and Consumer
Concentration Risk [Line Items]
Concentration risk	41%	60%
Gaming Devices
Concentration Risk [Line Items]
Concentration risk	32%	21%
Automotive
Concentration Risk [Line Items]
Concentration risk	22%	13%
Other
Concentration Risk [Line Items]
Concentration risk	5%	6%

SEGMENT REPORTING, GEOGRAPHIC_4

SEGMENT REPORTING, GEOGRAPHIC INFORMATION, AND SIGNIFICANT CUSTOMERS - Summary of Revenues by Geographic Revenue by Region (Detail) - Revenues - Geographic concentration risk	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Concentration risk	100%	100%
Asia
Concentration Risk [Line Items]
Concentration risk	74%	62%
North America
Concentration Risk [Line Items]
Concentration risk	17%	10%
Europe
Concentration Risk [Line Items]
Concentration risk	9%	28%

SEGMENT REPORTING, GEOGRAPHIC_5

SEGMENT REPORTING, GEOGRAPHIC INFORMATION, AND SIGNIFICANT CUSTOMERS - Summary of Revenues by Geographic Revenue by Country (Detail) - Revenues - Geographic concentration risk	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Concentration risk	100%	100%
Japan
Concentration Risk [Line Items]
Concentration risk	39%	27%
Korea
Concentration Risk [Line Items]
Concentration risk	32%	33%
Germany
Concentration Risk [Line Items]
Concentration risk	15%	7%
United States of America
Concentration Risk [Line Items]
Concentration risk	9%	28%
Other countries with less than 10% in a year
Concentration Risk [Line Items]
Concentration risk	5%	5%

SEGMENT REPORTING, GEOGRAPHIC_6

SEGMENT REPORTING, GEOGRAPHIC INFORMATION, AND SIGNIFICANT CUSTOMERS - Property and Equipment, Net by Country (Details) - Geographic concentration risk - Property and equipment, net	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Concentration risk	100%	100%
Canada
Segment Reporting, Asset Reconciling Item [Line Items]
Concentration risk	96%	97%
United States of America
Segment Reporting, Asset Reconciling Item [Line Items]
Concentration risk	2%	2%
Rest of World
Segment Reporting, Asset Reconciling Item [Line Items]
Concentration risk	2%	1%

SEGMENT REPORTING, GEOGRAPHIC_7

SEGMENT REPORTING, GEOGRAPHIC INFORMATION, AND SIGNIFICANT CUSTOMERS - Summary of Significant Customers (Detail) - Customer concentration risk - Revenues	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Customer A
Concentration Risk [Line Items]
Concentration risk	81%	60%
Customer B
Concentration Risk [Line Items]
Concentration risk	14%
Customer C
Concentration Risk [Line Items]
Concentration risk		21%

SEGMENT REPORTING, GEOGRAPHIC_8

SEGMENT REPORTING, GEOGRAPHIC INFORMATION, AND SIGNIFICANT CUSTOMERS - Narrative (Detail) - Segment	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Number of operating segments	1
Number of reportable segments	1
Customer 1 [Member] \| Revenues \| Customer concentration risk
Concentration Risk [Line Items]
Concentration risk	31%	31%
Customer 2 [Member] \| Revenues \| Customer concentration risk
Concentration Risk [Line Items]
Concentration risk	23%	18%
Customer 3 [Member] \| Revenues \| Customer concentration risk
Concentration Risk [Line Items]
Concentration risk	14%	13%

SUBSEQUENT EVENTS - Narrative (

SUBSEQUENT EVENTS - Narrative (Details) - Subsequent Event - Meta Platforms, Inc. (formerly known as Facebook, Inc.) (“Meta”) - Patent infringement - Pending Litigation $ in Millions	Feb. 09, 2024 USD ($)
Subsequent Event [Line Items]
Loss Contingency, Settlement Agreement, Date	February 9, 2024
Loss Contingency, Settlement Agreement, Counterparty's Name	Meta
Litigation Settlement, Amount Awarded from Other Party	$ 17.5