Immersion (IMMR) 10-Q16 Dec 242025 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Oct. 31, 2024	Dec. 06, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Fiscal Year Focus	2025
Document Period End Date	Oct. 31, 2024
Current Fiscal Year End Date	--04-30
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
Entity Address, Address Line Two	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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		32,275,705
Entity Central Index Key	0001058811
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
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

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Oct. 31, 2024	Apr. 30, 2024
Current assets
Cash and cash equivalents	$ 80,539
Investments – current	78,809	$ 92,848
Total current assets	852,826	190,608
Investments – noncurrent	37,347	46,545
Total assets	1,320,118	246,521
Current liabilities:
Total current liabilities	517,197	30,206
Total liabilities	837,631	45,291
Commitments and contingencies (Note 14)
Stockholders’ equity:
Common stock – $0.001 par value; 100,000,000 shares authorized; 48,685,577 and 32,275,705 shares issued and outstanding at October 31, 2024, respectively; 48,047,329 and 31,854,837 shares issued and outstanding at April 30, 2024, respectively	49	48
Additional paid-in capital	382,174	322,786
Accumulated other comprehensive income	1,531	2,019
Accumulated earnings (deficit)	34,535	(18,263)
Treasury stock at cost: 16,409,872 and 16,192,492 shares, respectively, at cost	(107,408)	(105,360)
Total stockholders' equity attributable to Immersion Corporation stockholders	310,881	201,230
Noncontrolling interest in consolidated subsidiaries	171,606	0
Total stockholders' equity	482,487	201,230
Total liabilities and stockholders’ equity	1,320,118	246,521
Immersion Corporation [Member]
Current assets
Cash and cash equivalents	68,920	85,521
Investments – current	78,809	92,848
Accounts receivable, net	4,315	3,138
Prepaid expenses and other current assets	14,846	9,101
Total current assets	166,890	190,608
Property and equipment, net	142	164
Investments – noncurrent	37,347	46,545
Long-term deposits	6,293	6,324
Deferred tax assets	3,342	2,793
Other assets – noncurrent	24,398	87
Total non-current assets	71,522	55,913
Current liabilities:
Accounts payable	51	55
Accrued compensation	2,860	4,003
Deferred revenue – current	2,956	12,494
Other current liabilities	25,478	13,654
Total current liabilities	31,345	30,206
Deferred revenue – noncurrent	7,262	7,978
Other noncurrent liabilities	4,946	7,107
Total non-current liabilities	12,208	15,085
Barnes and Noble Education, Inc. [Member]
Current assets
Cash and cash equivalents	11,619	0
Accounts receivable, net	275,847	0
Merchandise inventories, net	315,469	0
Textbook rental inventories, net	49,672	0
Prepaid expenses and other current assets	33,329	0
Total current assets	685,936	0
Property and equipment, net	107,413	0
Intangible assets, net	93,504	0
Goodwill	14,220	0
Operating lease right-of-use assets	169,250	0
Other assets – noncurrent	11,383	0
Total non-current assets	395,770	0
Current liabilities:
Accounts payable	298,952	0
Accrued liabilities	60,508	0
Deferred revenue – current	37,662	0
Operating lease liabilities – current	88,730	0
Total current liabilities	485,852	0
Deferred tax liabilities, net	2,050	0
Operating lease liabilities – noncurrent	114,290	0
Deferred revenue – noncurrent	3,215	0
Other noncurrent liabilities	11,120	0
Long-term borrowings	177,551	0
Total non-current liabilities	$ 308,226	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - $ / shares	Oct. 31, 2024	Apr. 30, 2024
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)	48,685,577	48,047,329
Common stock, shares outstanding (in shares)	32,275,705	31,854,837
Treasury stock, common (in shares)	16,409,872	16,192,492

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Jun. 30, 2023
Revenues:
Total revenues	$ 89,943	$ 616,249	$ 6,983	$ 799,738	$ 14,057
Operating expenses:
Total operating expenses	27,587	86,332	3,870	144,615	7,685
Operating income (loss)	(10,515)	64,407	3,113	75,936	6,372
Interest and other income, net	6,524	3,540	6,759	14,236	13,285
Interest expense	(1,466)	(4,547)	0	(6,914)	0
Income (loss) before provision for income taxes	(5,457)	63,400	9,872	83,258	19,657
Provision for income taxes	(976)	(7,641)	(2,844)	(15,104)	(4,351)
Net income (loss)	(6,433)	55,759	7,028	68,154	15,306
Net income (loss) attributable to noncontrolling interest	(6,756)	28,602	0	13,837	0
Net income attributable to Immersion stockholders	$ 323	$ 27,157	$ 7,028	$ 54,317	$ 15,306
Earnings per common share attributable to Immersion stockholders
Basic (in dollars per share)	$ 0.01	$ 0.84	$ 0.22	$ 1.69	$ 0.47
Diluted (in dollars per share)	$ 0.01	$ 0.83	$ 0.21	$ 1.65	$ 0.47
Weighted Average Common Stock Outstanding
Basic (in shares)	31,970	32,222	32,583	32,093	32,474
Diluted (in shares)	32,700	32,917	32,810	32,889	32,839
Immersion
Operating expenses:
Total operating expenses	$ 1,752	$ 4,165	$ 3,870	$ 17,576	$ 7,685
Immersion \| Royalty and license
Revenues:
Total revenues	1,900	14,127	6,983	62,552	14,057
Barnes & Noble Education, Inc.
Revenues:
Total revenues	88,043	602,122	0	737,186	0
Cost of sales (excludes depreciation and amortization expenses):
Total cost of sales (excludes depreciation and amortization expense)	72,871	465,510	0	579,187	0
Operating expenses:
Selling and administrative expenses	20,088	72,717	0	107,324	0
Depreciation and amortization expense	3,120	9,391	0	14,651	0
Restructuring and other charges	2,627	59	0	5,064	0
Total operating expenses	25,835	82,167	0	127,039	0
Income (loss) before provision for income taxes				(48,500)
Provision for income taxes				(1,300)
Net income attributable to Immersion stockholders	(4,891)	20,171
Barnes & Noble Education, Inc. \| Product and other
Revenues:
Total revenues	85,045	559,674	0	689,792	0
Cost of sales (excludes depreciation and amortization expenses):
Total cost of sales (excludes depreciation and amortization expense)	71,206	443,123	0	554,004	0
Barnes & Noble Education, Inc. \| Rental Services
Revenues:
Total revenues	2,998	42,448	0	47,394	0
Cost of sales (excludes depreciation and amortization expenses):
Total cost of sales (excludes depreciation and amortization expense)	$ 1,665	$ 22,387	$ 0	$ 25,183	$ 0

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (6,433)	$ 55,759	$ 7,028	$ 68,154	$ 15,306
Change in unrealized gains (losses) on available-for-sale securities	466	(270)	298	(488)	673
Comprehensive income (loss)	(5,967)	55,489	7,326	67,666	15,979
Comprehensive income (loss) attributable to noncontrolling interests	(6,756)	28,602	0	13,837	0
Comprehensive income attributable to Immersion stockholders	$ 789	$ 26,887	$ 7,326	$ 53,829	$ 15,979

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Total Stockholders' Equity Attributable to Immersion Stockholder	Common Stock	Additional Paid In Capital	Accumulated Other Comprehensive Income (loss)	Accumulated Earnings (Deficit)	Treasury Stock	Noncontrolling Interest
Beginning balance at Dec. 31, 2022	$ 157,700	$ 157,700	$ 47	$ 322,667	$ 202	$ (70,016)	$ (95,200)	$ 0
Beginning balance (in shares) at Dec. 31, 2022			46,974,598				14,727,582
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,306	15,306				15,306
Unrealized gain on available-for-sale securities, net of taxes	673	673			673
Stock repurchases (in shares)							(413,696)
Stock repurchases	(2,852)	(2,852)					$ (2,852)
Release of restricted stock units and awards, net of shares withheld for payroll taxes (in shares)			456,469				119,174
Release of restricted stock units and awards, net of shares withheld for payroll taxes	(946)	(946)	$ 1				$ (947)
Proceeds from stock option exercises (in shares)			21,222
Proceeds from stock option exercises	160	160		160
Issuance of stock for ESPP purchase (in shares)			1,298
Issuance of stock for ESPP purchase	6	6		6
Shares issued to an employee in lieu of cash compensation (in shares)			65,477
Shares issued to an employee in lieu of cash compensation	489	489		489
Dividends declared	(2,207)	(2,207)		(2,207)
Stock-based compensation	1,707	1,707		1,707
Ending balance at Jun. 30, 2023	170,036	170,036	$ 48	322,822	875	(54,710)	$ (98,999)	0
Ending balance (in shares) at Jun. 30, 2023			47,519,064				15,260,452
Beginning balance at Mar. 31, 2023	165,729	165,729	$ 48	322,799	577	(61,738)	$ (95,957)	0
Beginning balance (in shares) at Mar. 31, 2023			47,428,494				14,825,518
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,028	7,028				7,028
Unrealized gain on available-for-sale securities, net of taxes	298	298			298
Stock repurchases (in shares)							(413,696)
Stock repurchases	(2,852)	(2,852)					$ (2,852)
Release of restricted stock units and awards, net of shares withheld for payroll taxes (in shares)			54,514				21,238
Release of restricted stock units and awards, net of shares withheld for payroll taxes	(190)	(190)					$ (190)
Proceeds from stock option exercises (in shares)			21,222
Proceeds from stock option exercises	160	160		160
Shares issued to an employee in lieu of cash compensation (in shares)			14,834
Shares issued to an employee in lieu of cash compensation	106	106		106
Dividends declared	(1,003)	(1,003)		(1,003)
Stock-based compensation	760	760		760
Ending balance at Jun. 30, 2023	170,036	170,036	$ 48	322,822	875	(54,710)	$ (98,999)	0
Ending balance (in shares) at Jun. 30, 2023			47,519,064				15,260,452
Beginning balance at Apr. 30, 2024	201,230	201,230	$ 48	322,786	2,019	(18,263)	$ (105,360)	0
Beginning balance (in shares) at Apr. 30, 2024			48,047,329				16,192,492
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	68,154	54,317				54,317		13,837
Unrealized gain on available-for-sale securities, net of taxes	(488)	(488)			(488)
Barnes & Noble Education acquisition	203,657							203,657
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	9,412	(830)		(830)				10,242
Release of restricted stock units and awards, net of shares withheld for payroll taxes (in shares)			542,333				217,380
Release of restricted stock units and awards, net of shares withheld for payroll taxes	(2,047)	(2,047)	$ 1				$ (2,048)
Shares issued to an employee in lieu of cash compensation (in shares)			95,915
Shares issued to an employee in lieu of cash compensation	817	817		817
Dividends declared	(3,043)	(3,043)		(1,524)		(1,519)
Rebalancing of controlling and non-controlling interest	0	57,240		57,240				(57,240)
Stock-based compensation	4,795	3,685		3,685				1,110
Ending balance at Oct. 31, 2024	482,487	310,881	$ 49	382,174	1,531	34,535	$ (107,408)	171,606
Ending balance (in shares) at Oct. 31, 2024			48,685,577				16,409,872
Beginning balance at Jul. 31, 2024	416,781	284,264	$ 48	380,007	1,801	8,897	$ (106,489)	132,517
Beginning balance (in shares) at Jul. 31, 2024			48,436,572				16,311,799
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	55,759	27,157				27,157		28,602
Unrealized gain on available-for-sale securities, net of taxes	(270)	(270)			(270)
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	9,412	(830)		(830)				10,242
Release of restricted stock units and awards, net of shares withheld for payroll taxes (in shares)			242,333				98,073
Release of restricted stock units and awards, net of shares withheld for payroll taxes	(918)	(918)	$ 1				$ (919)
Shares issued to an employee in lieu of cash compensation (in shares)			6,672
Shares issued to an employee in lieu of cash compensation	55	55		55
Dividends declared	(1,519)	(1,519)				(1,519)
Rebalancing of controlling and non-controlling interest	0	788		788				(788)
Stock-based compensation	3,187	2,154		2,154				1,033
Ending balance at Oct. 31, 2024	$ 482,487	$ 310,881	$ 49	$ 382,174	$ 1,531	$ 34,535	$ (107,408)	$ 171,606
Ending balance (in shares) at Oct. 31, 2024			48,685,577				16,409,872

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 68,154	$ 15,306
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	14,700	42
Stock-based compensation	4,795	1,707
Loss on disposal of property and equipment	3,036	0
Deferred income taxes	(1,928)	0
Net gains on investment in marketable securities	(4,474)	(7,206)
Net gains on derivative instruments	(4,219)	(2,044)
Shares issued to an employee in lieu of cash compensation	818	490
Other	(224)	(57)
Changes in operating assets and liabilities, net of acquisition:
Accounts and other receivables	(163,281)	(1,109)
Merchandise inventories	21,272	0
Textbook rental inventories	(39,836)	0
Prepaid expenses and other current assets	(1,943)	2,467
Changes in lease right-of-use assets and liabilities	1,771	231
Long-term deposits	35	(1,980)
Other assets	(22,020)	231
Accounts payable and accrued liabilities	27,736	(756)
Other current liabilities	13,347	3,845
Deferred revenue	19,579	(2,379)
Other long-term liabilities	(1,293)	(34)
Net cash flows (used in) provided by operating activities	(63,975)	8,754
Cash flows from investing activities:
Purchases of marketable securities and other investments	(47,992)	(99,766)
Proceeds from sale or maturities of marketable securities and other investments	75,443	72,442
Proceeds from sale of derivative instruments	4,122	9,487
Acquisition of business net of cash acquired	(29,647)	0
Payments for settlement of derivative instruments	(1,450)	(4,869)
Purchase of property and equipment	(5,587)	0
Proceeds from disposal of property and equipment	792	0
Net cash flows used in investing activities	(4,319)	(22,706)
Cash flows from financing activities:
Proceeds from borrowings	404,144	0
Repayment of borrowing	(327,828)	0
Proceeds from sale of Barnes & Noble Education common stock	9,412	0
Dividend payments to stockholders	(3,043)	(5,415)
Payment for purchases of treasury stock	0	(2,852)
Shares withheld to cover payroll taxes	(2,049)	(947)
Other financing activities	0	166
Net cash provided by (used in) financing activities	80,636	(9,048)
Net increase (decrease) in cash, cash equivalents and restricted cash	12,342	(23,000)
Cash, cash equivalents and restricted cash:
Beginning of period	85,521	48,820
End of period	$ 97,863	$ 25,820

RECONCILIATION OF CASH, CASH EQ

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Oct. 31, 2024	Apr. 30, 2024	Jun. 30, 2023
Cash and cash equivalents	$ 80,539		$ 25,820
Restricted cash reported as:
Total cash, cash equivalents and restricted cash	97,863	$ 85,521	25,820
Immersion
Cash and cash equivalents	68,920	85,521	25,820
Barnes & Noble Education, Inc.
Cash and cash equivalents	11,619	$ 0	0
Restricted cash reported as:
Prepaid expenses and other current assets	14,946		0
Other assets - noncurrent	2,378		0
Total restricted cash	$ 17,324		$ 0

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Oct. 31, 2024
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES	1. SIGNIFICANT ACCOUNTING POLICIES Description of Business Immersion Corporation (“Immersion”) was incorporated in 1993 1999 Immersion generates license and royalty revenues from a wide range of intellectual property (“IP”) that more fully engage users’ sense 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. On June 10, 2024, we acquired a controlling interest in Barnes & Noble Education, Inc., a Delaware corporation (“Barnes & Noble Education” or “BNED”) refer to Note 2 The financial results of Barnes & Noble Education have been included in our condensed consolidated financial statements from the acquisition date of June 10, 2024. Barnes & Noble Education is a contract operator of physical and virtual bookstores for college and university campuses and K- 12 physical, virtual, and custom bookstores, delivering essential educational content, tools and general merchandise within a dynamic omnichannel retail environment. BNC First Day Equitable and Inclusive Access Programs Barnes & Noble Education • First Day Complete First Day The Barnes & Noble BNC MBS one Principles of Consolidation and Basis of Presentation The results of operations reflected in our condensed consolidated financial statements include the accounts of Immersion and our wholly-owned subsidiaries, as well as the accounts of Barnes & Noble Education, a consolidated variable interest entity, since June 10, 2024. All significant intercompany accounts and transactions have been eliminated in consolidation. The noncontrolling interest on the unaudited Condensed Consolidated Statements of Operations Condensed Consolidated Balance Sheets The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ( “ U.S. GAAP ” ) for interim financial information and with the instructions for Form 10-Q and the applicable articles of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all information and footnotes necessary for a complete presentation of the financial position, results of operations, and cash flows, in conformity with U.S. GAAP and should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023 . In the opinion of management, all adjustments consisting of only normal and recurring items necessary for the fair presentation of the financial position and results of operations for the interim periods presented have been included. Certain prior year amounts have been reclassified to conform with the current year presentation. Due to their nonhomogeneous operations, our Condensed Consolidated Balance Sheets Condensed Consolidated Statement of Operations All of the assets of Barnes & Noble Education, reported on the balance sheet, can be used only to settle obligations of Barnes & Noble Education. None of the liabilities of Barnes & Noble Education have recourse to the general credit of Immersion Corporation. Use of Estimates In preparing financial statements in conformity with GAAP, we are required to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Reporting Periods Immersion previously reported our financial results based on a calendar year basis. For interim period reporting, we reported our quarterly financial results as of March 31; June 30; September 30 and December 31 Barnes & Noble Education's fiscal year is comprised of 52 53 of April. In order to more closely align with Barnes & Noble Education’s fiscal year end, on September 27, 2024, the Board of Directors of Immersion (the “Board”) approved a change of our fiscal year from the period beginning on January 1 and ending on December 31 to the period beginning on May 1 and ending on April 30. As a result of the change in fiscal year end, we filed a Transition Report on Form 10-QT for the transition period from January 1, 2024, through April 30, 2024 on November 8, 2024. The change in quarterly reporting from the old to the new fiscal year resulted in the one Our new fiscal year begins on May 1 and ends on April 30. Our new fiscal quarters end on July 31, October 31, January 31 and April 30. Therefore, the financial results of certain fiscal quarters may not be comparable to prior fiscal quarters. References throughout this Quarterly Report on Form 10-Q to fiscal 2025 The financial information presented in this Quarterly Report on Form 10-Q includes the financial information of Barnes & Noble Education for the 13 26 We did not recast the condensed consolidated financial statements for the three and six months ended October 31, 2023 Prior to the completion of the Transactions, our business was not highly seasonal and seasonal differences do not generally affect the comparability of prior fiscal quarters. Segment Information Following the closing of the Transaction (as defined below) with Barnes & Noble Education, we operate as two reportable segments, Immersion and Barnes & Noble Education. Earnings per Share of the Company two two Business Combinations The determination of the fair value of net assets acquired in a business combination requires estimates and judgments of future cash flow expectations for the acquired business and the related identifiable tangible and intangible assets. Fair values of net assets acquired are calculated using expected cash flows and industry-standard valuation techniques. For current assets and current liabilities, book value is generally assumed to approximate fair value. Goodwill is the amount by which consideration paid for an acquired entity exceeds the fair value of its acquired net assets. Due to the time required to gather and analyze the necessary data for each acquisition, U.S. GAAP provides a “measurement period” of up to one Goodwill and Indefinite-Lived Intangible Assets We have goodwill and indefinite-lived intangible assets that have been recorded in connection with the acquisition of Barnes & Noble Education. Goodwill and indefinite-lived intangible assets are not amortized, but instead are tested for impairment at least annually. We one Impairment of Long-Lived Assets Our long-lived assets include property and equipment, operating lease right-of-use assets, and amortizable intangibles recorded in connection with our business acquisition of Barnes & Noble Education. Significant Accounting Policies Related to Barnes & Noble Education A summary of the new significant accounting policies as a result of our acquisition of Barnes & Noble Education is as follows: Seasonality Barnes & Noble Education's As the concentration of digital product sales increases, revenue will be recognized earlier during the academic term as digital textbook revenue is recognized when the customer accesses the digital content compared to: (i) the rental of physical textbook where revenue is recognized over the rental period, and (ii) ala carte courseware sales where revenue is recognized when the customer takes physical possession of Barnes & Noble Education products, which occurs either at the point of sale for products purchased at physical locations or upon receipt of products by customers for products ordered through Barnes & Noble Education’s websites and virtual bookstores. Restricted Cash As of October 31, 2024 Prepaid expenses and other current assets C ondensed Consolidated Balance Sheet The restricted cash was part of net assets acquired as part of the Transactions (defined below). Merchandise Inventories Merchandise inventories, which consist of finished goods, are stated at the lower of cost or market. The market value of Barnes & Noble Education's inventory, which is all purchased finished goods, is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. Reserves for non-returnable inventory are based on our history of liquidating non-returnable inventory, which includes certain significant assumptions, including markdowns, sales below cost, inventory aging and expected demand. Cost is determined primarily by the retail inventory method for Barnes & Noble Education's retail product sales. Textbook and trade book inventories are valued using the LIFO method and the related reserve was not material to the recorded amount of inventories. There were no LIFO adjustments during the period from June 10, 2024, to October 31, 2024. For the physical bookstores, Barnes & Noble Education also estimates and accrues shortage for the period between the last physical count of inventory and the balance sheet date. Shortage rates are estimated and accrued based on historical rates and can be affected by changes in merchandise mix and changes in actual shortage trends. On June 10, 2024, Immersion acquired $336.7 million in the merchandise inventory, measured at fair value, as part of the Transactions (defined below). Textbook Rental Inventories Physical textbooks out on rent are categorized as textbook rental inventories. At the time a rental transaction is consummated, the book is removed from merchandise inventories and moved to textbook rental inventories at cost. The cost of the book is amortized down to its estimated residual value over the rental period. The related amortization expense is included in cost of sales. At the end of the rental period, upon return, the book is removed from textbook rental inventories and recorded in merchandise inventories at its amortized cost. On June 10, 2024, Immersion acquired $9.8 million in rental textbook inventory, measured at fair value, as part of the Transactions (defined below). Leases Barnes & Noble Education recognizes lease assets and lease liabilities on the Condensed Consolidated Balance Sheet 842 twelve twelve C ondensed Consolidated Statements of Operations Condensed Consolidated Statements of Operations. For leases entered into after June 10, 2024, Barnes & Noble Education uses its incremental borrowing rates to determine the present value of fixed lease payments based on the information available at the commencement date, as the rate implicit in the lease is not readily determinable. Barnes & Noble Education utilizes an estimated collateralized incremental borrowing rate as of the effective date or the commencement date of the lease, whichever is later. Revenue Recognition and Deferred Revenue Product sales and rentals The majority of Barnes & Noble Education's revenue is derived from the sale of products through its bookstore locations, including virtual bookstores, and its bookstore affiliated e-commerce websites, and contains a single performance obligation. Revenue from sales of products is recognized at the point in time when control of the products is transferred to its customers in an amount that reflects the consideration it expects to be entitled to in exchange for the products. Product sales is recognized when the customer takes physical possession of its products, which occurs either at the point of sale for products purchased at physical locations or upon receipt of products by its customers for products ordered through websites and virtual bookstores. sales shipped from Barnes & Noble Education's wholesale operations are recognized upon shipment of physical textbooks Revenue from the sale of digital textbooks, which contains a single performance obligation, is recognized when the customer accesses the digital content as product sale in Barnes & Noble Education's condensed consolidated financial statements. A software feature is embedded within the content of Barnes & Noble Education's digital textbooks, such that upon expiration of the term the customer is no longer able to access the content. While the sale of the digital textbooks allow the customer to access digital content for a fixed period of time, once the digital content is delivered to customers, the performance obligation is complete. Revenue from the rental of physical textbooks is deferred and recognized over the rental period based on the passage of time commencing at the point of sale, when control of the product transfers to the customer and is recognized as rental income in Barnes & Noble Education's condensed consolidated financial statements. Rental periods are typically for a single semester and are always less than one year in duration. Barnes & Noble Education offers a buyout option to allow the purchase of a rented physical textbook at the end of the rental period if the customer desires to do so. It records the buyout purchase when the customer exercises and pays the buyout option price which is determined at the time of the buyout. In these instances, Barnes & Noble Education accelerates any remaining deferred rental revenue at the point of sale. Revenue recognized for the BNC First Day BNC First Day BNC First Day Barnes & Noble Education estimates returns based on an analysis of historical experience. A provision for anticipated merchandise returns is provided through a reduction of sales and cost of sales in the period that the related sales are recorded. For sales and rentals involving third-party products, Barnes & Noble Education evaluates whether it is acting as a principal or an agent. This determination is based on Barnes & Noble Education's evaluation of whether it controls the specified goods or services prior to transferring them to the customer. There are significant judgments involved in determining whether Barnes & Noble Education controls the specified goods or services prior to transferring them to the customer, including whether we have the ability to direct the use of the good or service and obtain substantially all of the remaining benefits from the good or service. For those transactions where Barnes & Noble Education is the principal, it records revenue on a gross basis, and for those transactions where Barnes & Noble Education is an agent to a third-party, it records revenue on a net basis. As the logo and emblematic general merchandise sales are fulfilled by Lids and Fanatics Retail Group Fulfillment, LLC (“Fanatics”, collectively, F/L Relationship), Barnes & Noble Education recognizes commission revenue earned for these sales on a net basis in its condensed consolidated financial statements. Barnes & Noble Education does not have gift cards or customer loyalty programs. Barnes & Noble Education does not treat any promotional offers as expenses. Sales tax collected from Barnes & Noble Education's customers is excluded from reported revenues. Barnes & Noble Education's payment terms are generally 30 days and do not extend beyond one year. Service and other revenue Service and other revenue is primarily derived from brand marketing services which include promotional activities and advertisements within Barnes & Noble Education's physical bookstores and web properties performed on behalf of third-party customers, shipping and handling, and revenue from other programs. Brand marketing agreements often include multiple performance obligations which are individually negotiated with Barnes & Noble Education's customers. For these arrangements that contain distinct performance obligations, Barnes & Noble Education allocates the transaction price based on the relative standalone selling price method by comparing the standalone selling price (“SSP”) of each distinct performance obligation to the total value of the contract. The revenue is recognized as each performance obligation is satisfied, typically at a point in time for brand marketing service and over time for advertising efforts as measured based upon the passage of time for contracts that are based on a stated period of time or the number of impressions delivered for contracts with a fixed number of impressions. Cost of Sales Cost of sales primarily includes costs such as merchandise costs, textbook rental amortization, content development cost amortization, warehouse costs related to inventory management and order fulfillment, insurance, certain payroll costs, and management service agreement costs, including rent expense, related to our college and university contracts and other facility related expenses. Rent expense is inclusive of the amortization of unfavorable lease terms that was recognized at the Closing Date. Except as set forth herein, there are no other changes in our significant accounting policies. Please refer to Note 1 8 of our Annual Report on Form 10-K for the year ended December 31, 2023 , filed with the SEC on March 11, 2024, for a complete discussion of our Recent Accounting Pronouncements Not Yet Adopted In November 2024, the Financial Accounting Standards Board (‘FASB’) issued Accounting Standards Update (ASU) 2024 03 Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures . The ASU requires a public business entity to provide disaggregated disclosures of certain categories of expenses on an annual and interim basis including purchases of inventory, employee compensation, depreciation, and intangible asset amortization for each income statement line item that contains those expenses. This ASU is effective for annual and interim periods beginning after December 15, 2026 (our 2028 ), with early adoption permitted. We are currently assessing this guidance and determining the impact on our condensed consolidated financial statements In December 2023, the FASB issued ASU No. 2023 09 Income Taxes (Topic 740 In November 2023 ASU 2023 07 (Topic 280 to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This guidance will be effective for us for the annual report for the fiscal year ending April 30, 2025, and subsequent interim periods. Early adoption is permitted, and retrospective adoption is required for all prior periods presented. We are currently assessing this guidance and determining the impact on our consolidated financial statements.

BUSINESS COMBINATION

BUSINESS COMBINATION	6 Months Ended
BUSINESS COMBINATION	Oct. 31, 2024
BUSINESS COMBINATION
BUSINESS COMBINATION	2 BUSINESS COMBINATION On June 10, 2024 (“Closing Date”), the Transactions (defined below) were consummated pursuant to the terms of the Purchase Agreement among Barnes & Noble Education and the Purchasers (as defined in the Purchase agreement) The following is presented on a post-reverse stock split basis, which is defined as a reverse stock split of Barnes & Noble Education’s outstanding shares of common stock at a ratio of 1-for-100, effective as of June 11, 2024.. Pursuant to the terms of the Purchase Agreement, Barnes & Noble Education conducted a rights offering (the “Rights Offering”), whereby Barnes & Noble Education distributed at no charge to the holders of its common stock (“BNED Common Stock”) non-transferable subscription rights (“Rights”) to purchase up to an aggregate of 9,000,000 5.00 18 2,006,701 In addition to the Rights Offering, Immersion, through Investor, purchased from Barnes & Noble Education an aggregate of 9,000,000 As a result of the Transactions, Barnes & Noble Education received a total of $ 95 80.7 In connection with the closing, Barnes & Noble Education appointed Eric Singer, William C. Martin, Emily S. Hoffman, and Elias Nader to serve as members of the board of directors of BNED (the “BNED Board”) following the Closing. Messrs. Singer, Martin and Nader and Ms. Hoffman are current members of our Board. In addition, at the closing, Sean Madnani was appointed to the Barnes & Noble Education Board along with two As part of the Transactions, we acquired 42 five 50.1 52.2 2.1 six months ended October 31, 2024 1.2 The acquisition aims to expand Immersion's offerings, increase its customer reach, and diversify into the education sector. The acquisition was accounted for as a business combination and the total purchase price was allocated to the net tangible and intangible assets and liabilities based on their fair values on the acquisition date with the excess recorded as goodwill. We expect to continue to obtain information to assist in determining the fair value of the net assets acquired as of the Closing Date while the measurement period remains open, which will not exceed one The fair value of the noncontrolling interest of $203.7 million on the Closing Date was calculated using the acquisition-date fair value of $13.40 per share multiplied by the number of noncontrolling interest shares. The following table presents the preliminary purchase price allocation for the acquisition (in thousands): Preliminary Amount Recognized as of the Assets acquired Cash and cash equivalents $ 14,736 Accounts receivable 113,743 Merchandise inventories 336,741 Textbook rental inventories 9,835 Prepaid expenses and other current assets (including $4.8 million in restricted cash) 26,969 Property and equipment 118,818 Operating lease right-of-use assets 155,664 Intangible assets 95,000 Other assets noncurrent (including $1.0 million in restricted cash) 11,634 Total assets acquired $ 883,140 Liabilities assumed Accounts payable $ 279,456 Accrued liabilities 51,123 Deferred revenue – current 7,651 Operating lease liabilities – current 80,263 Deferred tax liabilities – noncurrent 636 Operating lease liabilities – noncurrent 107,400 Deferred revenue – noncurrent 3,393 Other long-term liabilities 12,413 Long-term borrowings 101,235 Total liabilities assumed $ 643,570 Net assets acquired 239,570 Total consideration transferred $ 50,133 Less: Net assets acquired (239,570 ) Plus: Noncontrolling interest 203,657 Goodwill 14,220 Identifiable intangible assets acquired were comprised of the following (in thousands except for estimated useful life): Amount Estimated Life Trade name $ 45,000 Indefinite Customer relationships 50,000 13 years Total intangible assets $ 95,000 Trade name represents Barnes & Noble Education’s right to its trade name on a perpetual, royalty-free basis as it existed on the acquisition Closing Date. Customer relationships consist of distinct values associated with Barnes & Noble Education’s large operating footprint with direct access to students and faculty across a diverse customer base. We used the assistance of a third-party firm to estimate the fair value of the intangible assets acquired. We used an income approach to estimate the fair values of the trade names and customer relationships . The fair values assigned to identifiable intangible assets were determined through the use of the income approach, specifically the relief from royalty and the multi-period excess earnings methods. The major assumptions used to estimate the values of identifiable intangible assets include management’s estimates of future revenue, adjusted for growth and attrition based on historical data and management's forward-looking expectations. These cash flows were discounted at a rate of Goodwill generated from this acquisition is primarily attributed to the value of Barnes & Noble Education’s assembled workforce. Goodwill is not amortized and is tested for impairment at least annually or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Our entire goodwill balance is associated with the Barnes & Noble Education reporting unit. Goodwill is not deductible for tax purposes. We acquired a deferred tax asset of $ 0.7 recorded and a deferred tax liability of $ 1.3 We also used the assistance of a third-party valuation firm to estimate the fair value of the property and equipment, and inventory acquired. The fair value as of the Closing Date reflects a step-up in basis due to the highly depreciable nature of the property and equipment. No material fair value adjustments for inventory were identified, as there are minimal costs associated with procurement. Most of the net tangible assets were valued at their respective carrying amounts as of the acquisition date, as we believe that these amounts approximate their current fair values. The leases acquired were recorded at their respective fair values as of the acquisition date. The acquired entity’s results of operations were included in our condensed consolidated financial statements from the date of acquisition, June 10, 2024, as adjusted for specific fair value adjustments discussed above. For the month ended July 31, 2024, the three and six October 31, 2024 million and $737.2 million, respectively, which is reflected in the accompanying Condensed Consolidated Statement of Operations The following unaudited pro forma condensed combined financial information gives effect to the acquisition of Barnes & Noble Education as if it was consummated on January 1, 2023 (the beginning of the comparable prior reporting period), and includes pro forma adjustments related to the amortization of acquired intangible assets, stock-based compensation expense, and direct and incremental transaction costs reflected in the historical financial statements. Specifically, the following nonrecurring adjustments were made: • For the six months ended October 31, 2024 one • For the six months ended June 30, 2023 , our direct and incremental acquisition-related expenses of $1.2 million and one -time severance payment of $ This unaudited data is presented for informational purposes only and is not intended to represent or be indicative of the results of operations that would have been reported had the acquisition occurred on January 1, 2023. It should not be taken as representative of future results of operations of the combined company. The following table presents the unaudited pro forma condensed combined financial information (in thousands): Three Months Ended Six Months Ended October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Revenues $ 616,249 $ 221,171 $ 928,105 $ 667,299 Net income (loss) 57,256 (35,189 ) 1,569 (48,975 )

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
SEGMENT REPORTING	Oct. 31, 2024
SEGMENT REPORTING
SEGMENT REPORTING	3. SEGMENT REPORTING We operate two operating and reportable segments, Immersion and Barnes & Noble Education. Summarized financial information for our reportable segments is reported below (in thousands): One Month Ended Three Months Ended Six Months Ended July 31, 2024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Revenues: Im m $ 1,900 $ 14,127 $ 6,983 $ 62,552 $ 14,057 Barnes & Noble Education 88,043 602,122 — 737,186 — Total revenues 89,943 616,249 6,983 799,738 14,057 Cost of sales (excludes depreciation and amortization expense): Barnes & Noble Education 72,871 465,510 — 579,187 — Operating expenses: Immersion 1,752 4,165 3,870 17,576 7,685 Barnes & Noble Education 25,835 82,167 — 127,039 — Total operating expenses 27,587 86,332 3,870 144,615 7,685 Operating income (loss) Immersion 148 9,962 3,113 44,976 6,372 Barnes & Noble Education (10,663 ) 54,445 — 30,960 — Operating income (loss) $ (10,515 ) $ 64,407 $ 3,113 $ 75,936 $ 6,372

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
REVENUE RECOGNITION	Oct. 31, 2024
REVENUE RECOGNITION
REVENUE RECOGNITION	4. REVENUE RECOGNITION Immersion Disaggregated Revenue The following table presents the disaggregation of our revenue of Immersion for the month ended July 31, 2024, and the three and six October 31, 2024 and June 30, 2023 One Month Ended Three Months Ended Six Months Ended July 31, 2024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Fixed fee license revenue $ 483 $ 10,676 $ 1,254 $ 56,003 $ 2,404 Per-unit royalty revenue 1,417 3,451 5,729 6,549 11,653 Total revenues $ 1,900 $ 14,127 $ 6,983 $ 62,552 $ 14,057 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 our licensees. In the three months ended October 31, 2024 royalty revenue recognized in the previous quarter. We recorded adjustments of $0.3 million to increase royalty revenue during the three months ended June 30, 2023 Contract Assets As of October 31, 2024 , we had contract assets of $6.7 million included within Prepaid expenses and other current asset s Other assets -noncurrent on the Condensed Consolidated Balance Sheets . April 30, 2024 , we had contract assets of $6.6 million included within Prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets . Contract assets increased by $24.4 million from May 1 2024 October 31, 2024 , primarily due to an increase in unbilled revenue related to the new contracts we entered into during the six months ended October 31, 2024 Deferred Revenue The following table presents changes in deferred revenue associated with Immersion’s contract liabilities (in thousands): October 31, 2024 June 30, 2023 Deferred revenue beginning of the period $ 20,472 $ 17,395 Additions to deferred revenue during the period 1,312 — Reductions to deferred revenue for revenue recognized during the period (11,566 ) ( 2,387 ) Deferred revenue balance end of the period $ 10,218 $ 15,008 Based on contracts signed and payments received as of October 31, 2024 , we expect to recognize $ 10.2 million in revenue under our fixed fee license agreements, which are satisfied over time, including $ 7.4 million over one to three years and $ 2.8 million over more than three years. Barnes & Noble Education Disaggregated Revenue The follo jor products and service offerings (i n thousands) : One Month Ended July 31, 2024 Three Months Ended October 31, 2024 From June 10, 2024 to October 31, 2024 Course material sale $ 65,559 $ 431,443 $ 523,816 General merchandise sale 15,144 99,659 130,811 Services and other revenue 4,342 28,572 35,165 Total product and other revenue 85,045 559,674 689,792 Course material rental income 2,998 42,448 47,394 Total revenue $ 88,043 $ 602,122 $ 737,186 Deferred Revenue The following table presents changes in deferred revenue associated with Barnes & Noble Education's contract liabilities (in thousands): October 31, 2024 Deferred revenue as of the acquisition date $ 11,044 Additions to deferred revenue during the period 91,225 Reductions to deferred revenue for revenue recognized during the period (61,392 ) Deferred revenue balance at the end of period $ 40,877

INVESTMENTS AND FAIR VALUE MEAS

INVESTMENTS AND FAIR VALUE MEASUREMENTS	6 Months Ended
INVESTMENTS AND FAIR VALUE MEASUREMENTS	Oct. 31, 2024
INVESTMENTS AND FAIR VALUE MEASUREMENTS
INVESTMENTS AND FAIR VALUE MEASUREMENTS	5 INVESTMENTS AND FAIR VALUE MEASUREMENTS 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. A summary of our investments in marketable equity and debt securities as of October 31, 2024, is as follows: Investments - current were as follows (in thousands): October 31, 2024 April 30, 2024 Marketable equity securities $ 44,413 $ 50,496 U.S. treasury securities 34,396 42,352 Short-term investments $ 78,809 $ 92,848 Investments- noncurrent were as follows (in thousands): October 31, 2024 April 30, 2024 U.S. treasury securities $ 16,101 $ 19,747 Corporate bonds 21,246 26,798 Investments- noncurrent $ 37,347 $ 46,545 Marketable Securities Marketable securities as of October 31, 2024 April 30, 2024 October 31, 2024 Cost or Amortized Cost Unrealized Gains Unrealized Losses Fair Value Marketable equity securities Equity securities $ 45,339 $ 2,802 $ (3,728 ) $ 44,413 Marketable debt securities U.S. treasury securities 49,749 748 — 50,497 Corporate bonds 20,584 684 (22 ) 21,246 Total marketable debt securities 70,333 1,432 (22 ) 71,743 $ 115,672 $ 4,234 $ (3,750 ) $ 116,156 April 30, 2024 Cost or Amortized Cost Unrealized Gains Unrealized Losses Fair Value Marketable equity securities Equity securities $ 50,645 $ 5,656 $ (5,805 ) $ 50,496 Marketable debt securities U.S. treasury securities 61,306 825 (32 ) 62,099 Corporate bonds 25,695 1,151 (48 ) 26,798 Total marketable debt securities 87,001 1,976 (80 ) 88,897 $ 137,646 $ 7,632 $ (5,885 ) $ 139,393 The amortized costs and fair value of our marketable debt securities, by contractual maturity, as of October 31, 2024 (in thousands) are as follows: October 31, 2024 Amortized Cost Fair Value Less than 1 $ 33,842 $ 34,396 1 5 36,491 37,347 Total $ 70,333 $ 71,743 As of October 31, 2024 million , with an aggregated loss of $ 22,000 . There were no U.S.treasury with unrealized loss position at October 31. 2024. As of April 30, 2024, the fair value of available-for-sale debt securities in unrealized loss position for corporate bonds and U.S. treasury securities were $ 5.6 million and $ 25.2 million, respectively, with an aggregated loss of $ 0.1 million. 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 October 31, 2024 April 30, 2024 Derivative Financial Instruments Our derivative instruments consisted of call and put options sold at their fair value as of the balance sheet date. These derivative instruments are reported as Other current liabilities on our Condensed Consolidated Balance Sheets as of October 31, 2024 and April 30, 2024 (in thousands): October 31, 2024 Cost Unrealized Gains Fair Value Derivative instruments $ 7,145 $ (3,251 ) $ 3,894 $ 7,145 $ (3,251 ) $ 3,894 April 30, 2024 Cost Unrealized Gains Fair Value Derivative instruments $ 7,935 $ (2,495 ) $ 5,440 $ 7,935 $ (2,495 ) $ 5,440 A summary of realized and unrealized gains and losses from our equity securities and derivative instruments and realized gains and losses from our marketable debt securities are as follows (in thousands): One Month Ended Three Months Ended Six Months Ended July 31, 2024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Net unrealized gains (losses) recognized on marketable equity securities $ 2,839 $ (2,407 ) $ (1,255 ) $ (776 ) $ 759 Net realized gains recognized on marketable equity securities 704 834 4,561 3,941 6,230 Net unrealized gains (losses) recognized on derivative instruments 1,128 1,282 (91 ) 757 (194 ) Net realized gains recognized on derivative instruments 172 866 1,520 3,462 2,237 Net realized gains recognized on marketable debt securities 1,056 35 217 1,308 217 Total net gains recognized in interest and other income (loss), net $ 5,899 $ 610 $ 4,952 $ 8,692 $ 9,249 Fair Value Measurements Our financial instruments include cash and cash equivalents, receivables, accrued liabilities and accounts payable. The fair value of cash and cash equivalents, receivables, accrued liabilities and accounts payable approximates their carrying values because of the short-term nature of these instruments, which are all considered Level 1 Our financial instruments measured at fair value on a recurring basis consisted of U.S. treasury securities, equity securities, corporate bonds and derivatives. Equity securities are classified within Level 1 2 Financial instruments value 3 3 October 31, 2024 , and April 30, 2024 . Financial instrument of October 31, 2024 April 30, 2024 are classified based on the valuation technique in the table below (in thousands): October 31, 2024 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1 Significant Other Observable Inputs (Level 2 Significant Unobservable Inputs (Level 3 Total Assets: U.S. treasury securities $ — $ 50,497 $ — $ 50,497 Equity securities 44,413 — — 44,413 Corporate bonds — 21,246 — 21,246 Total assets at fair value $ 44,413 $ 71,743 $ — $ 116,156 Liabilities Derivative instruments $ — $ 3,894 $ — $ 3,894 Total liabilities at fair value $ — $ 3,894 $ — $ 3,894 April 30, 2024 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1 Significant Other Observable Inputs (Level 2 Significant Unobservable Inputs (Level 3 Total Assets: U.S. treasury securities $ — $ 62,099 $ — $ 62,099 Equity securities 50,496 — — 50,496 Corporate bonds 8,220 18,578 — 26,798 Total assets at fair value $ 58,716 $ 80,677 $ — $ 139,393 Liabilities Derivative instruments $ — $ 5,440 $ — $ 5,440 Total liabilities at fair value $ — $ 5,440 $ — $ 5,440

LEASES

LEASES	6 Months Ended
LEASES	Oct. 31, 2024
LEASES
LEASES	6 LEASES Immersion Immersion leases office space, which is accounted for as an operating lease in accordance with the provisions of ASC Topic 842 twelve Condensed Consolidated Balance Sheets The following table summarizes additional information related to Immersion’s operating leases: October 31, 2024 June 30, 2023 Weighted average remaining lease terms (in years) 1.50 0.70 Weighted average discount rate 4.7 % N/A Barnes & Noble Education Barnes & Noble Education leases the right to operate on-campus bookstores at colleges and universities, office space and vehicles under operating leases in accordance with the provisions of ASC Topic 842 twelve months Condensed Consolidated Balance Sheets. Barnes & Noble Education used its incremental borrowing rates to determine the present value of fixed lease payments based on the information available on June 10, 2024 (“Closing Date”, as discussed in Note 2 The following table summarizes additional information related to Barnes & Noble Education’s operating leases: One Month Ended Three Months Ended October 31, 2024 From June 10, 2024 to October 31, 2024 Operating lease cost $ 2,279 $ 26,039 $ 31,826 Variable lease payments 5,967 29,771 39,036 Sublease income 1,006 15,138 19,399 Total lease cost $ 9,252 $ 70,948 $ 90,261 For the period June 10, 2024 to October 31, 2024 Cash paid for amounts included in the measurement of lease liabilities 27,421 Operating lease right-of-use assets obtained in exchange for operating lease liabilities 48,143 Weighted-average remaining lease term (in years) 4.7 Weighted-average discount rate 6.6 %

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
GOODWILL AND INTANGIBLE ASSETS	Oct. 31, 2024
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	7. GOODWILL AND INTANGIBLE ASSETS Goodwill We recognized $14.2 million in goodwill as the result of the business combination with BNED on June 10, 2024, as further described in Note 2 October 31, 2024 In accordance with ASC Topic 350 Intangibles - Goodwill and Other, three October 31, 2024 Intangible Assets, net The following is a summary of intangible assets excluding goodwill recorded as intangible assets on our Condensed Consolidated Balance Sheets as of October 31, 2024 (in thousands): As of October 31, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted-average remaining life (Years) Trade name $ 45,000 $ — $ 45,000 Infinite Customer relationships 50,000 (1,496 ) 48,504 12.6 Total $ 95,000 $ (1,496 ) $ 93,504 Amortization of finite-lived intangible assets is computed using the straight-line method over their estimated useful lives. Trade name is determined to have an indefinite useful life and is not subject to amortization. Amortization expense was $0.3 million July 31, 2024 for the three months ended October 31, 2024 Estimated amortization expense of the intangible assets to be recognized by the Company are as follows (in thousands): Year ended April 30, Remainder of 2025 $ 1,923 2026 3,846 2027 3,846 2028 3,846 2029 3,846 Thereafter 31,197 Total $ 48,504

DEBT

DEBT	6 Months Ended
DEBT	Oct. 31, 2024
DEBT
DEBT	8. DEBT The following is a summary of Barnes & Noble Education’s outstanding borrowing as of October 31, 2024 Maturity Date As of October 31, 2024 Total debt - Barnes & Noble credit facility June 9, 2028 $ 177,551 Balance sheet classification: Long-term borrowings $ 177,551 On the Closing Date, Barnes & Noble Education amended and restated and extended the maturity of its existing asset-based c redit facility with Bank of America, N.A., as administrative agent, collateral agent and swing line lender, and other lenders from time to time party thereto (such amended and restated credit facility, the “Restated ABL Facility”). Pursuant to the Restated ABL Facility, the lenders thereunder have committed to provide a four Barnes & Noble Education has interest only obligations until June 9, 2028, at which time the total principal is due and payable. Interest under the Restated ABL Facility accrues, at the election of Barnes & Noble Education, either (x) based on the Secured Overnight Financing Rate (“SOFR”), which is subject to a floor of 2.5% per annum, plus a spread of 3.5% per annum or (y) at an alternate base rate, which is subject to a floor of 3.5% per annum, plus a spread of 2.5% per annum, provided that, in the event Barnes & Noble Education meets certain financial metrics for a consecutive six one The Restated ABL Facility Restricted Payments (as defined under the Restated ABL Facility agreement) and other specified payments, merge with other entities, dispose of or acquire assets, or engage in transactions with affiliates, among other things. Additionally, the Restated ABL Facility includes the following financial maintenance covenants: • following the date that is six months following the Closing Date, Barnes & Noble Education is required to maintain a minimum Availability (as defined in the Restated ABL Facility agreement thirty thirty • commencing with the month ending on or about May 31, 2025, Barnes & Noble Education is required to maintain a Consolidated Fixed Charge Coverage Ratio (as defined in the Restated ABL Facility) of not less than 1.10 to 1.00, which will be tested monthly on the last day of each fiscal month for the trailing 12-month period; and • commencing with the quarter ending on or about October 31, 2024, Barnes & Noble Education is required to maintain a minimum Consolidated EBITDA (as defined in the Restated ABL Facility), which will be tested quarterly on the last day of each fiscal quarter for (a) the trailing six nine The Restated ABL Facility The Restated ABL Facility The credit facility is secured by substantially all of the inventory, accounts receivable and related assets of the borrowers under the credit facility. This is considered an all asset lien (inclusive of proceeds from tax refunds payable to Barnes & Noble Education and pledge of equity from subsidiaries, exclusive of real estate). None of the liabilities of Barnes & Noble Education have recourse In connection with the Restated ABL Facility, with respect to the 1.0% fee payable in connection with the eighth amendment to the Restated ABL Facility (prior to its having been restated), (x) 50% was paid on September 2, 2024, and (y) 50% is due and payable on June 10, 2025. As of October 31, 2024, and through the date of this filing, Barnes & Noble Education was in compliance with all debt covenants under the Restated ABL Facility. During the period from June 10, 2024, to October 31, 2024, Barnes & Noble Education borrowed $404.1 million and repaid $327.8 million under the Restated ABL Facility Restated ABL Facility Restated ABL Facility

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
STOCK-BASED COMPENSATION	Oct. 31, 2024
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	9. STOCK-BASED COMPENSATION Immersion 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 shares plus up to an additional 855,351 shares that are subject to stock options or other awards previously granted under the 2011 Under our equity incentive plans, stock options may be granted at prices not less than the fair market value on the date of grant for such stock options. Stock options generally vest over four years and expire seven years from the applicable grant date. Market condition-based stock awards are subject to a market conditions 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 shares for every share issued. A summary of our equity incentive program as of October 31, 2024 is as follows (in thousands): Common stock shares available for grant 2,824 RSUs outstanding 1,361 RSAs outstanding 86 PSUs outstanding 50 As of October 31, 2024 Restricted Stock Units The following summarizes RSU activities for the six months ended October 31, 2024 Number of Restricted Stock Units (in thousands) Weighted Average Grant Date Fair Value Per Share Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) Outstanding at April 30, 2024 1,129 $ 6.53 1.09 $ 8,207 Granted 424 9.38 Released (192 ) 5.91 Forfeited — — Outstanding at October 31, 2024 1,361 $ 7.50 0.74 $ 11,469 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 six months ended October 31, 2024 Number of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Per Share Weighted Average Remaining Recognition Period (Years) Outstanding at April 30, 2024 86 $ 7.25 1.00 Granted — — Released — — Forfeited — — Outstanding at October 31, 2024 86 $ 7.25 0.49 Market Condition-Based Performance Stock Units In the first quarter of 2022 600,000 shares of PSUs to certain members of our management team. 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. In March 2023, the Performance Milestone of the first tranche was achieved. The second tranche Performance Milestone was achieved in the first quarter of fiscal 2025 The following summarizes PSU activities for the six months ended October 31, 2024 Number of Market Condition-Based Performance Stock Units (in thousands) Weighted Average Grant Date Fair Value Per Share Weighted Average Remaining Recognition Period (Years) Outstanding at April 30, 2024 400 $ 3.63 0.42 Granted — — Released (350 ) 3.63 Forfeited — — Outstanding at October 31, 2024 50 $ 3.63 0.17 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 for the month ended July 31, 2024, the three and six October 31, 2024 June 30, 2023 One Month Ended Three Months Ended Six Months Ended July 31, 2024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Stock options $ — $ — $ 16 $ — $ (40 ) RSUs, RSAs and PSUs 863 2,154 744 3,685 1,747 Total $ 863 $ 2,154 $ 760 $ 3,685 $ 1,707 As of October 31, 2024 , Barnes & Noble Education Barnes & Noble Education Shares Assumed Stock options 25,191 Restricted stock award 4,853 Restricted stock unit 1,518 Total equity awards assumed 31,562 The total fair value of equity award assumed was $33,000. On June 18, 2024, Barnes & Noble Education On September 20, 2024, Barnes & Noble Education granted On September 20, 2024, Barnes & Noble Education granted 1,533,250 seven years PSU Tranche # 1 P SU Tranche # 2 PSU Tranche # 3 Performance Milestone (VWAP) $ 10.00 $ 15.00 $ 20.00 Valuation method utilized Monte Carlo Monte Carlo Monte Carlo Risk-free interest rate 3.53 % 3.53 % 3.53 % Company volatility 120 % 120 % 120 % Derived service period 1.0 year 2.0 years 3.0 years Grant date fair value per award $ 9.74 $ 9.62 $ 9.46 Stock-based Compensation Expense For the month ended July 31, 2024, the three months ended October 31, 2024, and the period from June 10, 2024, to October 31, 2024, the total stock-based compensation expense for options, RSAs, RSUs and PSUs were $0.1 million, $1.0 million and $1.1 million, respectively. The total unrecognized compensation cost related to unvested awards as of October 31, 2024, was $15.2 million and is expected to be recognized over a weighted-average period of 1.8 years.

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN	6 Months Ended
EMPLOYEE BENEFIT PLAN	Oct. 31, 2024
EMPLOYEE BENEFIT PLAN
EMPLOYEE BENEFIT PLAN	10 Barnes & Noble Education sponsors defined contribution plans for the benefit of substantially all of its employees. MBS Textbook Exchange, LLC (“MBS”), a subsidiary of Barnes & Noble Education, maintains a profit-sharing plan covering substantially all full-time employees of MBS. For all plans, Barnes & Noble Education is responsible to fund the employer contributions directly, if any. There was no benefit expense for these plans during the period from June 10, 2024, to October 26, 2024

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
STOCKHOLDERS' EQUITY	Oct. 31, 2024
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	11. STOCKHOLDERS’ EQUITY Stock Repurchase Program On December 29, 2022, the Board 50.0 twelve one 10 5 1 10 5 1 1934 On August 8, 2023, the Board approved an amendment to extend the expiration date of the December 2022 Stock Repurchase Program that was set to expire on Dec ember 29 2023 , December 29, 2024 On August 27, 2024, the Board approved an amendment to extend the expiration date of the December 2022 Stock Repurchase Program that was set to expire on December 29, 2024, to December 29, 2025. We did not repurchase any stock during the six months ended October 31, 2024 October 31, 2024 41.7 million available for repurchase under the December 2022 Stock Repurchase Program. Dividends Declared and Dividend Payments On November 13, 2023, our Board declared a quarterly dividend in the amount of $0.045 per share, which was paid on January 25, 2024, to stockholders of record on January 14, 2024. On February 28, 2024, our Board declared a quarterly dividend in the amount of $ 0.045 , which was paid on April 19, 2024, to stockholders of record on April 12, 2024 . On May 8, 2024, our Board declared a quarterly dividend in the amount of $0.045 per share, which was paid on July 26, 2024. to stockholders of record on July 8, 2024 . On August 12, 2024, our Board declared a quarterly dividend in the amount of $0.045 per share, which was paid on October 18, 2024, to stockholders of record on October 4, 2024. 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 six months ended October 31, 2024 and June 30, 2023 At-the-Market Equity Offerings On September 19, 2024, Barnes & Noble Education entered into an At-the-Market ("ATM") Sales Agreement with BTIG, LLC (“BTIG”) (the "Sales Agreement"), under Barnes & Noble Education may offer and sell BNED Common Stock from time to time through BTIG as its sales agent. BTIG will use commercially reasonable efforts to sell an aggregate offering of up to $40 million of BNED Common Stock from time to time, based upon Barnes & Noble Education’s instructions (including any price, time or size limits or other customary parameters or conditions Barnes & Noble Education may impose). Barnes & Noble Education will pay BTIG a commission of 2% of the gross sales proceeds of any common shares sold under the Sales Agreement. Barnes & Noble Education is not obligated to make any sales of common shares under the Sales Agreement. During the three months ended October 31, 2024, Barnes & Noble Education issued and sold 1,046,460 shares of BNED Common Stock under the sales agreement at a weighted-average price of $9.35 per share and received $9.6 million in proceeds, net of commissions.

NONCONTROLLING INTEREST

NONCONTROLLING INTEREST	6 Months Ended
NONCONTROLLING INTEREST	Oct. 31, 2024
NONCONTROLLING INTEREST
NONCONTROLLING INTEREST	12 Immersion is the primary beneficiary of Barnes & Noble Education and as a result, consolidates the financial results of Barnes & Noble Education and reports a noncontrolling interest representing BNED Common Stock held by other Barnes & Noble Education’s stockholders. Changes in Immersion’s ownership interest in Barnes & Noble Education while Immersion retains its controlling interest in Barnes & Noble Education are accounted for as equity transactions. The following table summarizes the ownership interest in Barnes & Noble Education: October 31, 2024 Shares Owned % of Ownership Number of Barnes & Noble Education Common Stock held by Immersion 11,006,701 40.30 % Number of Barnes & Noble Education Common Stock held by interest 16,279,830 59.70 % Total Barnes & Noble Education common stock outstanding 27,286,531 100.0 % The weighted average ownership percentages for the applicable reporting periods are used to attribute net income to the non-controlling interest holders and were as follows: One Month Ended Three Month Ended October 31, 2024 From June 10, 2024 to October 31, 2024 Non-controlling interest holders' weighted average ownership percentages 58.0 58.6 58.2 The following table summarizes the effect of changes in ownership of Barnes & Noble Education on the Company’s equity for the periods presented (in thousands): One Month Ended July 31, 2024 Three Month Ended October 31, 2024 From June 10, 2024 to October 31, 2024 Net Income (loss) attributable to Immersion $ (4,891 ) $ 20,171 $ 9,480 Transfers from (to) non-controlling interests: Increase (decrease) in additional paid-in capital as a result of common stock issuances pursuant to vesting of equity awards, and sales of common stock $ — $ (42 ) $ 56,410 Total effect of changes in ownership interest on equity attributable to Immersion stockholders $ (4,891 ) $ 20,129 $ 65,890

INCOME TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Oct. 31, 2024
INCOME TAXES
INCOME TAXES	13 . INCOME TAXES Provision for income taxes for the month ended July 31, 2024, and the three and six October 31, 2024 June 30, 2023 One Month Ended Three Months Ended Six Months Ended July 31, 2 024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Income (loss) before provision for income taxes $ (5,457 ) $ 63,400 $ 9,872 $ 83,258 $ 19,657 Provision for income taxes (976 ) (7,641 ) (2,844 ) (15,104 ) (4,351 ) Effective tax rate (17.9 ) % 12.1 % 28.8 % 18.1 % 22.1 % Provision for income taxes for the month ended July 31, 2024, and the three and six October 31, 2024 estimated domestic and foreign taxes included in the calculation of the effective tax rate. We provided no valuation allowance for federal deferred tax assets, whose future realization is more likely than not and continue to maintain full valuation allowance for certain state deferred tax assets in the United States as well as federal tax assets in Canada. Changes in provision for income taxes resulted primarily from the change in income from continuing operations across various tax jurisdictions. In the event that we determine the deferred tax assets are realizable based on an assessment of relevant factors, an adjustment to the valuation allowance may increase income in the period such determination is made. The valuation allowance does not impact our ability to utilize the underlying net operating loss carryforwards. We also maintain liabilities for uncertain tax positions. As of October 31, 2024, we had unrecognized tax benefits under ASC 740 twelve Barnes & Noble Education Barnes & Noble Education recorded an income tax provision of $1.3 million on pre-tax loss of $48.5 million during the period of May 1, 2024, to October 31, 2024, which represented an effective income tax rate of (2.6)%. In assessing the realizability of the deferred tax assets, management considered whether it is more likely than not that some or all of the deferred tax assets would be realized. As of October 31, 2024, Barnes & Noble Education determined that it was more likely than not that it would not realize all deferred tax assets and its tax rate for the current fiscal year reflects this determination. Barnes & Noble Education will continue to evaluate this position. Under Sections 382 383 1986 5 50 three 382 383 382 383

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
EARNINGS PER SHARE	Oct. 31, 2024
EARNINGS PER SHARE
EARNINGS PER SHARE	14. EARNINGS PER SHARE We use the two two Potential common stock, computed using the treasury stock method, includes stock options and stock awards. The following are rec One Month Ended Three Months Ended Six Months Ended July 31, 2024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Numerator for basic earnings per share: Net income attributable to Immersion stockholders $ 323 $ 27,157 $ 7,028 $ 54,317 $ 15,306 Denominator: Weighted-average shares outstanding, basic 31,970 32,222 32,583 32,093 32,474 Shares related to outstanding options, unvested RSUs, RSAs, and PSUs 730 695 227 796 365 Weighted ave 32,700 32,917 32,810 32,889 32,839 Net income per share attributable to Immersion stockholders Basic $ 0.01 $ 0.84 $ 0.22 $ 1.69 $ 0.47 Diluted $ 0.01 $ 0.83 $ 0.21 $ 1.65 $ 0.47 For the month ended July 31, 2024 and the three and six October 31, 2024 June 30, 2023 These outstanding securities consisted of the following (in thousands): One Month Ended Three Months Ended Six Months Ended July 31, 2024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Stock options — — 136 — 138 RSUs, RSAs and PSUs — 5 10 3 5 Total — 5 146 3 143

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Oct. 31, 2024
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	15 CONTINGENCIES We are involved in a variety of claims, suits, investigations and proceedings that arise from time to time in the ordinary course of our business, including actions with respect to contracts, intellectual property, taxation, employment, benefits, personal injuries and other matters. The results of these proceedings in the ordinary course of business are not expected to have a material adverse effect on our condensed consolidated financial position, results of operations, or cash flows. 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 to 2014 . Pursuant to an agreement reached with LGE, on April 8, 2020, we provided a provisional deposit to LGE in the amount of KRW 5,916,845,454 (approximately $ 5.0 million) representing the amount of such withholding tax that was imposed on LGE, which provisional deposit would be returned to us to the extent we ultimately prevail in the appeal in the Korean courts. In the second quarter of 2020 , we recorded this deposit in Long-term deposits on our 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 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 Based on th e developments in these cases, we regularly reassess the likelihood that we will prevail in the claims from the Korean tax authorities with respect to the LGE case. To the extent that we determine that it is more likely than not that we will prevail against the claims from the Korean tax authorities, then no additional tax expense is provided for in our Condensed Consolidated Statements of Operations and Comprehensive Income (loss) . In the event that we determine that it is more likely than not that we will not prevail against the claims from the Korean tax authorities, or a portion thereof, then we would estimate the anticipated additional tax expense associated with that outcome and record it as additional income tax expense in our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) Long-term deposit Condensed Consolidated Balance Sheets , then the additional income tax expense would be recorded as an impairment to the Long-term deposits . If the additional income tax expense was not related to the periods assessed by Korean tax authorities and for which we recorded in Long-term deposits on our Condensed Consolidated Balance Sheets , then the additional income tax expense would be accrued as an Other current liabilities . 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 Condensed Consolidated Statements of Operation and Comprehensive Income (loss) Immersion Corporation vs. Xiaomi Group On or about March 3, 2023, the Company initiated patent infringement lawsuits against several companies of the Xiaomi-Group in Germany, France and India (the “Xiaomi Litigation”). Immersion filed complaints against Xiaomi-Group companies and their agents in the Düsseldorf Regional Court in Germany, the Tribunal judiciaire de Paris (Paris First Instance Civil Court) in France, and the High Court of Delhi, at New Delhi, in India. The complaints alleged that the Xiaomi-Group’s devices, including the Xiaomi 12 On June 12, 2024, the Company entered into a Patent License Agreement (the “Xiaomi License Agreement”) with the Xiaomi Group, pursuant to which the parties have agreed to terms for resolving the Xiaomi Litigation and the Xiaomi Group will license, on a non-exclusive basis, the Company’s patent portfolio for use in its products. Immersion Corporation vs. Valve Corporation ( “Valve ”) On May 15, 2023, the Company filed a complaint against 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 Valve from further infringement and to recover a reasonable royalty for such infringement. The complaint against Valve asserts infringement of the following patents: • U.S. Patent No. 7,336,260 • U.S. Patent No. 8,749,507 • U.S. Patent No. 9,430,042 • U.S. Patent No. 9,116,546 • U.S. Patent No. 10,627,907 • U.S. Patent No. 10,665,067 • U.S. Patent No. 11,175,738 Valve responded to the complaint on July 24, 2023, with a motion to dismiss. Valve re-noted its motion, which changed Immersion’s response deadline from August 14, 2023, to August 21, 2023. Immersion timely filed its response, and Valve filed its reply on August 25, 2023. The Court heard arguments on Valve’s motion on February 8, 2024. The Court entered a case schedule on November 21, 2023. The case scheduled did not include a trial date but set the pretrial conference for May 30, 2025. Valve filed IPRs, IPR 2024 00477 2024 00478 7,336,260 9,430,042 2024 00508 9,116,546 2024 00556 8,749,507 2024 00557 10,665,067 2024 00582 11,175,738 2024 00714 10,627,907 The parties submitted their joint claim construction statement and respective positions on March 29, 2024. On March 14, 2024, Valve filed a motion to stay the district court case pending the PTAB’s decisions on the IPRs. Immersion opposed the motion on March 25, 2024, and Valve filed its reply brief on March 29, 2024. The Court granted Valve’s motion to stay on April 4, 2024. In connection with that order, the Court struck Valve’s motion to dismiss with leave to refile at a later date.

SUPPLEMENTARY INFORMATION

SUPPLEMENTARY INFORMATION	6 Months Ended
SUPPLEMENTARY INFORMATION	Oct. 31, 2024
SUPPLEMENTARY INFORMATION	16. SUPPLEMENTARY INFORMATION Restructuring and Other Charges During the period from June 10, 2024, to October 31, 2024, Barnes & Noble Education recognized restructuring and other charges (credits) totaling $5.1 million, comprised primarily of $2.1 million related to severance and other employee termination and benefit costs associated with elimination of various positions as part of cost reduction initiatives, restructuring and process improvements and other charges. These costs and expenses were partially offset by a $1.4 million expense reversal related to the termination of liabilities related to a frozen retirement benefit plan.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
SUBSEQUENT EVENT	Oct. 31, 2024
SUBSEQUENT EVENT
SUBSEQUENT EVENT	17 At-the-Market Equity Offerings At-the-Market Equity Offerings Subsequent to October 26, 2024, Barnes & Noble Education issued and sold 2,928,145 of its common stock under the Sales Agreement at a weighted-average price of $10.32 per share and received $29.7 million in proceeds, net of commissions. As of November 27, 2024, we sold the maximum aggregate offering of $40 million of BNED Common Stock under the ATM Sales Agreement. Dividends Declared On November 8, 2024, our Board declared a special cash dividend of $ 0.245

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
Insider Trading Arrangements	Oct. 31, 2024
Trading Arrangements, by Individual [Table]
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)	6 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Oct. 31, 2024
SIGNIFICANT ACCOUNTING POLICIES
Description of Business	Description of Business Immersion Corporation (“Immersion”) was incorporated in 1993 1999 Immersion generates license and royalty revenues from a wide range of intellectual property (“IP”) that more fully engage users’ sense 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. On June 10, 2024, we acquired a controlling interest in Barnes & Noble Education, Inc., a Delaware corporation (“Barnes & Noble Education” or “BNED”) refer to Note 2 The financial results of Barnes & Noble Education have been included in our condensed consolidated financial statements from the acquisition date of June 10, 2024. Barnes & Noble Education is a contract operator of physical and virtual bookstores for college and university campuses and K- 12 physical, virtual, and custom bookstores, delivering essential educational content, tools and general merchandise within a dynamic omnichannel retail environment. BNC First Day Equitable and Inclusive Access Programs Barnes & Noble Education • First Day Complete First Day The Barnes & Noble BNC MBS one
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The results of operations reflected in our condensed consolidated financial statements include the accounts of Immersion and our wholly-owned subsidiaries, as well as the accounts of Barnes & Noble Education, a consolidated variable interest entity, since June 10, 2024. All significant intercompany accounts and transactions have been eliminated in consolidation. The noncontrolling interest on the unaudited Condensed Consolidated Statements of Operations Condensed Consolidated Balance Sheets The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ( “ U.S. GAAP ” ) for interim financial information and with the instructions for Form 10-Q and the applicable articles of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all information and footnotes necessary for a complete presentation of the financial position, results of operations, and cash flows, in conformity with U.S. GAAP and should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023 . In the opinion of management, all adjustments consisting of only normal and recurring items necessary for the fair presentation of the financial position and results of operations for the interim periods presented have been included. Certain prior year amounts have been reclassified to conform with the current year presentation. Due to their nonhomogeneous operations, our Condensed Consolidated Balance Sheets Condensed Consolidated Statement of Operations All of the assets of Barnes & Noble Education, reported on the balance sheet, can be used only to settle obligations of Barnes & Noble Education. None of the liabilities of Barnes & Noble Education have recourse to the general credit of Immersion Corporation.
Use of Estimates	Use of Estimates In preparing financial statements in conformity with GAAP, we are required to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Reporting Periods	Reporting Periods Immersion previously reported our financial results based on a calendar year basis. For interim period reporting, we reported our quarterly financial results as of March 31; June 30; September 30 and December 31 Barnes & Noble Education's fiscal year is comprised of 52 53 of April. In order to more closely align with Barnes & Noble Education’s fiscal year end, on September 27, 2024, the Board of Directors of Immersion (the “Board”) approved a change of our fiscal year from the period beginning on January 1 and ending on December 31 to the period beginning on May 1 and ending on April 30. As a result of the change in fiscal year end, we filed a Transition Report on Form 10-QT for the transition period from January 1, 2024, through April 30, 2024 on November 8, 2024. The change in quarterly reporting from the old to the new fiscal year resulted in the one Our new fiscal year begins on May 1 and ends on April 30. Our new fiscal quarters end on July 31, October 31, January 31 and April 30. Therefore, the financial results of certain fiscal quarters may not be comparable to prior fiscal quarters. References throughout this Quarterly Report on Form 10-Q to fiscal 2025 The financial information presented in this Quarterly Report on Form 10-Q includes the financial information of Barnes & Noble Education for the 13 26 We did not recast the condensed consolidated financial statements for the three and six months ended October 31, 2023 Prior to the completion of the Transactions, our business was not highly seasonal and seasonal differences do not generally affect the comparability of prior fiscal quarters.
Segment Information	Segment Information Following the closing of the Transaction (as defined below) with Barnes & Noble Education, we operate as two reportable segments, Immersion and Barnes & Noble Education.
Earnings per Share of the Company	Earnings per Share of the Company two two
Business Combinations	Business Combinations The determination of the fair value of net assets acquired in a business combination requires estimates and judgments of future cash flow expectations for the acquired business and the related identifiable tangible and intangible assets. Fair values of net assets acquired are calculated using expected cash flows and industry-standard valuation techniques. For current assets and current liabilities, book value is generally assumed to approximate fair value. Goodwill is the amount by which consideration paid for an acquired entity exceeds the fair value of its acquired net assets. Due to the time required to gather and analyze the necessary data for each acquisition, U.S. GAAP provides a “measurement period” of up to one
Goodwill and Indefinite-Lived Intangible Assets	Goodwill and Indefinite-Lived Intangible Assets We have goodwill and indefinite-lived intangible assets that have been recorded in connection with the acquisition of Barnes & Noble Education. Goodwill and indefinite-lived intangible assets are not amortized, but instead are tested for impairment at least annually. We one
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Our long-lived assets include property and equipment, operating lease right-of-use assets, and amortizable intangibles recorded in connection with our business acquisition of Barnes & Noble Education.
Barnes & Noble Education, Inc.
SIGNIFICANT ACCOUNTING POLICIES
Seasonality	Seasonality Barnes & Noble Education's As the concentration of digital product sales increases, revenue will be recognized earlier during the academic term as digital textbook revenue is recognized when the customer accesses the digital content compared to: (i) the rental of physical textbook where revenue is recognized over the rental period, and (ii) ala carte courseware sales where revenue is recognized when the customer takes physical possession of Barnes & Noble Education products, which occurs either at the point of sale for products purchased at physical locations or upon receipt of products by customers for products ordered through Barnes & Noble Education’s websites and virtual bookstores.
Restricted Cash	Restricted Cash As of October 31, 2024 Prepaid expenses and other current assets C ondensed Consolidated Balance Sheet The restricted cash was part of net assets acquired as part of the Transactions (defined below).
Merchandise Inventories	Merchandise Inventories Merchandise inventories, which consist of finished goods, are stated at the lower of cost or market. The market value of Barnes & Noble Education's inventory, which is all purchased finished goods, is determined based on its estimated net realizable value, which is generally the selling price less normally predictable costs of disposal and transportation. Reserves for non-returnable inventory are based on our history of liquidating non-returnable inventory, which includes certain significant assumptions, including markdowns, sales below cost, inventory aging and expected demand. Cost is determined primarily by the retail inventory method for Barnes & Noble Education's retail product sales. Textbook and trade book inventories are valued using the LIFO method and the related reserve was not material to the recorded amount of inventories. There were no LIFO adjustments during the period from June 10, 2024, to October 31, 2024. For the physical bookstores, Barnes & Noble Education also estimates and accrues shortage for the period between the last physical count of inventory and the balance sheet date. Shortage rates are estimated and accrued based on historical rates and can be affected by changes in merchandise mix and changes in actual shortage trends. On June 10, 2024, Immersion acquired $336.7 million in the merchandise inventory, measured at fair value, as part of the Transactions (defined below).
Textbook Rental Inventories	Textbook Rental Inventories Physical textbooks out on rent are categorized as textbook rental inventories. At the time a rental transaction is consummated, the book is removed from merchandise inventories and moved to textbook rental inventories at cost. The cost of the book is amortized down to its estimated residual value over the rental period. The related amortization expense is included in cost of sales. At the end of the rental period, upon return, the book is removed from textbook rental inventories and recorded in merchandise inventories at its amortized cost. On June 10, 2024, Immersion acquired $9.8 million in rental textbook inventory, measured at fair value, as part of the Transactions (defined below).
Leases	Leases Barnes & Noble Education recognizes lease assets and lease liabilities on the Condensed Consolidated Balance Sheet 842 twelve twelve C ondensed Consolidated Statements of Operations Condensed Consolidated Statements of Operations. For leases entered into after June 10, 2024, Barnes & Noble Education uses its incremental borrowing rates to determine the present value of fixed lease payments based on the information available at the commencement date, as the rate implicit in the lease is not readily determinable. Barnes & Noble Education utilizes an estimated collateralized incremental borrowing rate as of the effective date or the commencement date of the lease, whichever is later.
Revenue Recognition And Deferred Revenue	Revenue Recognition and Deferred Revenue Product sales and rentals The majority of Barnes & Noble Education's revenue is derived from the sale of products through its bookstore locations, including virtual bookstores, and its bookstore affiliated e-commerce websites, and contains a single performance obligation. Revenue from sales of products is recognized at the point in time when control of the products is transferred to its customers in an amount that reflects the consideration it expects to be entitled to in exchange for the products. Product sales is recognized when the customer takes physical possession of its products, which occurs either at the point of sale for products purchased at physical locations or upon receipt of products by its customers for products ordered through websites and virtual bookstores. sales shipped from Barnes & Noble Education's wholesale operations are recognized upon shipment of physical textbooks Revenue from the sale of digital textbooks, which contains a single performance obligation, is recognized when the customer accesses the digital content as product sale in Barnes & Noble Education's condensed consolidated financial statements. A software feature is embedded within the content of Barnes & Noble Education's digital textbooks, such that upon expiration of the term the customer is no longer able to access the content. While the sale of the digital textbooks allow the customer to access digital content for a fixed period of time, once the digital content is delivered to customers, the performance obligation is complete. Revenue from the rental of physical textbooks is deferred and recognized over the rental period based on the passage of time commencing at the point of sale, when control of the product transfers to the customer and is recognized as rental income in Barnes & Noble Education's condensed consolidated financial statements. Rental periods are typically for a single semester and are always less than one year in duration. Barnes & Noble Education offers a buyout option to allow the purchase of a rented physical textbook at the end of the rental period if the customer desires to do so. It records the buyout purchase when the customer exercises and pays the buyout option price which is determined at the time of the buyout. In these instances, Barnes & Noble Education accelerates any remaining deferred rental revenue at the point of sale. Revenue recognized for the BNC First Day BNC First Day BNC First Day Barnes & Noble Education estimates returns based on an analysis of historical experience. A provision for anticipated merchandise returns is provided through a reduction of sales and cost of sales in the period that the related sales are recorded. For sales and rentals involving third-party products, Barnes & Noble Education evaluates whether it is acting as a principal or an agent. This determination is based on Barnes & Noble Education's evaluation of whether it controls the specified goods or services prior to transferring them to the customer. There are significant judgments involved in determining whether Barnes & Noble Education controls the specified goods or services prior to transferring them to the customer, including whether we have the ability to direct the use of the good or service and obtain substantially all of the remaining benefits from the good or service. For those transactions where Barnes & Noble Education is the principal, it records revenue on a gross basis, and for those transactions where Barnes & Noble Education is an agent to a third-party, it records revenue on a net basis. As the logo and emblematic general merchandise sales are fulfilled by Lids and Fanatics Retail Group Fulfillment, LLC (“Fanatics”, collectively, F/L Relationship), Barnes & Noble Education recognizes commission revenue earned for these sales on a net basis in its condensed consolidated financial statements. Barnes & Noble Education does not have gift cards or customer loyalty programs. Barnes & Noble Education does not treat any promotional offers as expenses. Sales tax collected from Barnes & Noble Education's customers is excluded from reported revenues. Barnes & Noble Education's payment terms are generally 30 days and do not extend beyond one year. Service and other revenue Service and other revenue is primarily derived from brand marketing services which include promotional activities and advertisements within Barnes & Noble Education's physical bookstores and web properties performed on behalf of third-party customers, shipping and handling, and revenue from other programs. Brand marketing agreements often include multiple performance obligations which are individually negotiated with Barnes & Noble Education's customers. For these arrangements that contain distinct performance obligations, Barnes & Noble Education allocates the transaction price based on the relative standalone selling price method by comparing the standalone selling price (“SSP”) of each distinct performance obligation to the total value of the contract. The revenue is recognized as each performance obligation is satisfied, typically at a point in time for brand marketing service and over time for advertising efforts as measured based upon the passage of time for contracts that are based on a stated period of time or the number of impressions delivered for contracts with a fixed number of impressions.
Cost of Sales	Cost of Sales Cost of sales primarily includes costs such as merchandise costs, textbook rental amortization, content development cost amortization, warehouse costs related to inventory management and order fulfillment, insurance, certain payroll costs, and management service agreement costs, including rent expense, related to our college and university contracts and other facility related expenses. Rent expense is inclusive of the amortization of unfavorable lease terms that was recognized at the Closing Date. Except as set forth herein, there are no other changes in our significant accounting policies. Please refer to Note 1 8 of our Annual Report on Form 10-K for the year ended December 31, 2023 , filed with the SEC on March 11, 2024, for a complete discussion of our
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In November 2024, the Financial Accounting Standards Board (‘FASB’) issued Accounting Standards Update (ASU) 2024 03 Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures . The ASU requires a public business entity to provide disaggregated disclosures of certain categories of expenses on an annual and interim basis including purchases of inventory, employee compensation, depreciation, and intangible asset amortization for each income statement line item that contains those expenses. This ASU is effective for annual and interim periods beginning after December 15, 2026 (our 2028 ), with early adoption permitted. We are currently assessing this guidance and determining the impact on our condensed consolidated financial statements In December 2023, the FASB issued ASU No. 2023 09 Income Taxes (Topic 740 In November 2023 ASU 2023 07 (Topic 280 to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This guidance will be effective for us for the annual report for the fiscal year ending April 30, 2025, and subsequent interim periods. Early adoption is permitted, and retrospective adoption is required for all prior periods presented. We are currently assessing this guidance and determining the impact on our consolidated financial statements.

BUSINESS COMBINATION (Tables)

BUSINESS COMBINATION (Tables)	6 Months Ended
BUSINESS COMBINATION (Tables)	Oct. 31, 2024
BUSINESS COMBINATION
Schedule of preliminary purchase price allocation	The following table presents the preliminary purchase price allocation for the acquisition (in thousands): Preliminary Amount Recognized as of the Assets acquired Cash and cash equivalents $ 14,736 Accounts receivable 113,743 Merchandise inventories 336,741 Textbook rental inventories 9,835 Prepaid expenses and other current assets (including $4.8 million in restricted cash) 26,969 Property and equipment 118,818 Operating lease right-of-use assets 155,664 Intangible assets 95,000 Other assets noncurrent (including $1.0 million in restricted cash) 11,634 Total assets acquired $ 883,140 Liabilities assumed Accounts payable $ 279,456 Accrued liabilities 51,123 Deferred revenue – current 7,651 Operating lease liabilities – current 80,263 Deferred tax liabilities – noncurrent 636 Operating lease liabilities – noncurrent 107,400 Deferred revenue – noncurrent 3,393 Other long-term liabilities 12,413 Long-term borrowings 101,235 Total liabilities assumed $ 643,570 Net assets acquired 239,570 Total consideration transferred $ 50,133 Less: Net assets acquired (239,570 ) Plus: Noncontrolling interest 203,657 Goodwill 14,220
Schedule of identifiable intangible assets acquired	Identifiable intangible assets acquired were comprised of the following (in thousands except for estimated useful life): Amount Estimated Life Trade name $ 45,000 Indefinite Customer relationships 50,000 13 years Total intangible assets $ 95,000
Schedule of pro forma condensed combined financial information	The following table presents the unaudited pro forma condensed combined financial information (in thousands): Three Months Ended Six Months Ended October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Revenues $ 616,249 $ 221,171 $ 928,105 $ 667,299 Net income (loss) 57,256 (35,189 ) 1,569 (48,975 )

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
SEGMENT REPORTING (Tables)	Oct. 31, 2024
SEGMENT REPORTING
Summay of financial information for reportable segments	We operate two operating and reportable segments, Immersion and Barnes & Noble Education. Summarized financial information for our reportable segments is reported below (in thousands): One Month Ended Three Months Ended Six Months Ended July 31, 2024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Revenues: Im m $ 1,900 $ 14,127 $ 6,983 $ 62,552 $ 14,057 Barnes & Noble Education 88,043 602,122 — 737,186 — Total revenues 89,943 616,249 6,983 799,738 14,057 Cost of sales (excludes depreciation and amortization expense): Barnes & Noble Education 72,871 465,510 — 579,187 — Operating expenses: Immersion 1,752 4,165 3,870 17,576 7,685 Barnes & Noble Education 25,835 82,167 — 127,039 — Total operating expenses 27,587 86,332 3,870 144,615 7,685 Operating income (loss) Immersion 148 9,962 3,113 44,976 6,372 Barnes & Noble Education (10,663 ) 54,445 — 30,960 — Operating income (loss) $ (10,515 ) $ 64,407 $ 3,113 $ 75,936 $ 6,372

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
REVENUE RECOGNITION (Tables)	Oct. 31, 2024
Immersion Corporation [Member]
Disaggregation of Revenue [Line Items]
Schedule of disaggregation of revenue	The following table presents the disaggregation of our revenue of Immersion for the month ended July 31, 2024, and the three and six October 31, 2024 and June 30, 2023 One Month Ended Three Months Ended Six Months Ended July 31, 2024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Fixed fee license revenue $ 483 $ 10,676 $ 1,254 $ 56,003 $ 2,404 Per-unit royalty revenue 1,417 3,451 5,729 6,549 11,653 Total revenues $ 1,900 $ 14,127 $ 6,983 $ 62,552 $ 14,057
Schedule of deferred revenue	The following table presents changes in deferred revenue associated with Immersion’s contract liabilities (in thousands): October 31, 2024 June 30, 2023 Deferred revenue beginning of the period $ 20,472 $ 17,395 Additions to deferred revenue during the period 1,312 — Reductions to deferred revenue for revenue recognized during the period (11,566 ) ( 2,387 ) Deferred revenue balance end of the period $ 10,218 $ 15,008
Barnes and Noble Education, Inc. [Member]
Disaggregation of Revenue [Line Items]
Schedule of disaggregation of revenue	The follo jor products and service offerings (i n thousands) : One Month Ended July 31, 2024 Three Months Ended October 31, 2024 From June 10, 2024 to October 31, 2024 Course material sale $ 65,559 $ 431,443 $ 523,816 General merchandise sale 15,144 99,659 130,811 Services and other revenue 4,342 28,572 35,165 Total product and other revenue 85,045 559,674 689,792 Course material rental income 2,998 42,448 47,394 Total revenue $ 88,043 $ 602,122 $ 737,186
Schedule of deferred revenue	The following table presents changes in deferred revenue associated with Barnes & Noble Education's contract liabilities (in thousands): October 31, 2024 Deferred revenue as of the acquisition date $ 11,044 Additions to deferred revenue during the period 91,225 Reductions to deferred revenue for revenue recognized during the period (61,392 ) Deferred revenue balance at the end of period $ 40,877

INVESTMENTS AND FAIR VALUE ME_2

INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables)	Oct. 31, 2024
INVESTMENTS AND FAIR VALUE MEASUREMENTS
Schedule of current investments	Investments - current were as follows (in thousands): October 31, 2024 April 30, 2024 Marketable equity securities $ 44,413 $ 50,496 U.S. treasury securities 34,396 42,352 Short-term investments $ 78,809 $ 92,848
Schedule of noncurrent investments	Investments- noncurrent were as follows (in thousands): October 31, 2024 April 30, 2024 U.S. treasury securities $ 16,101 $ 19,747 Corporate bonds 21,246 26,798 Investments- noncurrent $ 37,347 $ 46,545
Schedule of short-term investments	Marketable securities as of October 31, 2024 April 30, 2024 October 31, 2024 Cost or Amortized Cost Unrealized Gains Unrealized Losses Fair Value Marketable equity securities Equity securities $ 45,339 $ 2,802 $ (3,728 ) $ 44,413 Marketable debt securities U.S. treasury securities 49,749 748 — 50,497 Corporate bonds 20,584 684 (22 ) 21,246 Total marketable debt securities 70,333 1,432 (22 ) 71,743 $ 115,672 $ 4,234 $ (3,750 ) $ 116,156 April 30, 2024 Cost or Amortized Cost Unrealized Gains Unrealized Losses Fair Value Marketable equity securities Equity securities $ 50,645 $ 5,656 $ (5,805 ) $ 50,496 Marketable debt securities U.S. treasury securities 61,306 825 (32 ) 62,099 Corporate bonds 25,695 1,151 (48 ) 26,798 Total marketable debt securities 87,001 1,976 (80 ) 88,897 $ 137,646 $ 7,632 $ (5,885 ) $ 139,393
Debt Securities, Available-for-sale	The amortized costs and fair value of our marketable debt securities, by contractual maturity, as of October 31, 2024 (in thousands) are as follows: October 31, 2024 Amortized Cost Fair Value Less than 1 $ 33,842 $ 34,396 1 5 36,491 37,347 Total $ 70,333 $ 71,743
Derivatives Not Designated as Hedging Instruments	Our derivative instruments consisted of call and put options sold at their fair value as of the balance sheet date. These derivative instruments are reported as Other current liabilities on our Condensed Consolidated Balance Sheets as of October 31, 2024 and April 30, 2024 (in thousands): October 31, 2024 Cost Unrealized Gains Fair Value Derivative instruments $ 7,145 $ (3,251 ) $ 3,894 $ 7,145 $ (3,251 ) $ 3,894 April 30, 2024 Cost Unrealized Gains Fair Value Derivative instruments $ 7,935 $ (2,495 ) $ 5,440 $ 7,935 $ (2,495 ) $ 5,440
Schedule of realized and unrealized gains and losses from equity securities and derivative instruments and realized gains and losses from marketable debt securities	A summary of realized and unrealized gains and losses from our equity securities and derivative instruments and realized gains and losses from our marketable debt securities are as follows (in thousands): One Month Ended Three Months Ended Six Months Ended July 31, 2024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Net unrealized gains (losses) recognized on marketable equity securities $ 2,839 $ (2,407 ) $ (1,255 ) $ (776 ) $ 759 Net realized gains recognized on marketable equity securities 704 834 4,561 3,941 6,230 Net unrealized gains (losses) recognized on derivative instruments 1,128 1,282 (91 ) 757 (194 ) Net realized gains recognized on derivative instruments 172 866 1,520 3,462 2,237 Net realized gains recognized on marketable debt securities 1,056 35 217 1,308 217 Total net gains recognized in interest and other income (loss), net $ 5,899 $ 610 $ 4,952 $ 8,692 $ 9,249
Schedule of financial instruments measured at fair value on recurring basis	Financial instrument of October 31, 2024 April 30, 2024 are classified based on the valuation technique in the table below (in thousands): October 31, 2024 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1 Significant Other Observable Inputs (Level 2 Significant Unobservable Inputs (Level 3 Total Assets: U.S. treasury securities $ — $ 50,497 $ — $ 50,497 Equity securities 44,413 — — 44,413 Corporate bonds — 21,246 — 21,246 Total assets at fair value $ 44,413 $ 71,743 $ — $ 116,156 Liabilities Derivative instruments $ — $ 3,894 $ — $ 3,894 Total liabilities at fair value $ — $ 3,894 $ — $ 3,894 April 30, 2024 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1 Significant Other Observable Inputs (Level 2 Significant Unobservable Inputs (Level 3 Total Assets: U.S. treasury securities $ — $ 62,099 $ — $ 62,099 Equity securities 50,496 — — 50,496 Corporate bonds 8,220 18,578 — 26,798 Total assets at fair value $ 58,716 $ 80,677 $ — $ 139,393 Liabilities Derivative instruments $ — $ 5,440 $ — $ 5,440 Total liabilities at fair value $ — $ 5,440 $ — $ 5,440

LEASES (Tables)

LEASES (Tables)	6 Months Ended
LEASES (Tables)	Oct. 31, 2024
Immersion Corporation [Member]
Lessee, Lease, Description [Line Items]
Schedule of additional information related to operating leases	The following table summarizes additional information related to Immersion’s operating leases: October 31, 2024 June 30, 2023 Weighted average remaining lease terms (in years) 1.50 0.70 Weighted average discount rate 4.7 % N/A
Barnes and Noble Education, Inc. [Member]
Lessee, Lease, Description [Line Items]
Schedule of additional information related to operating leases	The following table summarizes additional information related to Barnes & Noble Education’s operating leases: One Month Ended Three Months Ended October 31, 2024 From June 10, 2024 to October 31, 2024 Operating lease cost $ 2,279 $ 26,039 $ 31,826 Variable lease payments 5,967 29,771 39,036 Sublease income 1,006 15,138 19,399 Total lease cost $ 9,252 $ 70,948 $ 90,261 For the period June 10, 2024 to October 31, 2024 Cash paid for amounts included in the measurement of lease liabilities 27,421 Operating lease right-of-use assets obtained in exchange for operating lease liabilities 48,143 Weighted-average remaining lease term (in years) 4.7 Weighted-average discount rate 6.6 %

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
GOODWILL AND INTANGIBLE ASSETS (Tables)	Oct. 31, 2024
GOODWILL AND INTANGIBLE ASSETS
Schedule of intangible assets excluding goodwill	The following is a summary of intangible assets excluding goodwill recorded as intangible assets on our Condensed Consolidated Balance Sheets as of October 31, 2024 (in thousands): As of October 31, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted-average remaining life (Years) Trade name $ 45,000 $ — $ 45,000 Infinite Customer relationships 50,000 (1,496 ) 48,504 12.6 Total $ 95,000 $ (1,496 ) $ 93,504
Schedule of Estimated amortization expense of the intangible assets to be recognized	Estimated amortization expense of the intangible assets to be recognized by the Company are as follows (in thousands): Year ended April 30, Remainder of 2025 $ 1,923 2026 3,846 2027 3,846 2028 3,846 2029 3,846 Thereafter 31,197 Total $ 48,504

DEBT (Tables)

DEBT (Tables)	6 Months Ended
DEBT (Tables)	Oct. 31, 2024
DEBT
Schedule of interest expense	Maturity Date As of October 31, 2024 Total debt - Barnes & Noble credit facility June 9, 2028 $ 177,551 Balance sheet classification: Long-term borrowings $ 177,551

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
STOCK-BASED COMPENSATION (Tables)	Oct. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of equity incentive program	A summary of our equity incentive program as of October 31, 2024 is as follows (in thousands): Common stock shares available for grant 2,824 RSUs outstanding 1,361 RSAs outstanding 86 PSUs outstanding 50
Summary of restricted stock units activities	The following summarizes RSU activities for the six months ended October 31, 2024 Number of Restricted Stock Units (in thousands) Weighted Average Grant Date Fair Value Per Share Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) Outstanding at April 30, 2024 1,129 $ 6.53 1.09 $ 8,207 Granted 424 9.38 Released (192 ) 5.91 Forfeited — — Outstanding at October 31, 2024 1,361 $ 7.50 0.74 $ 11,469
Summary of restricted stock awards activities	The following summarizes RSA activities for the six months ended October 31, 2024 Number of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Per Share Weighted Average Remaining Recognition Period (Years) Outstanding at April 30, 2024 86 $ 7.25 1.00 Granted — — Released — — Forfeited — — Outstanding at October 31, 2024 86 $ 7.25 0.49
Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Option	The following summarizes PSU activities for the six months ended October 31, 2024 Number of Market Condition-Based Performance Stock Units (in thousands) Weighted Average Grant Date Fair Value Per Share Weighted Average Remaining Recognition Period (Years) Outstanding at April 30, 2024 400 $ 3.63 0.42 Granted — — Released (350 ) 3.63 Forfeited — — Outstanding at October 31, 2024 50 $ 3.63 0.17
Summary of stock-based compensation expenses	One Month Ended Three Months Ended Six Months Ended July 31, 2024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Stock options $ — $ — $ 16 $ — $ (40 ) RSUs, RSAs and PSUs 863 2,154 744 3,685 1,747 Total $ 863 $ 2,154 $ 760 $ 3,685 $ 1,707
Schedule of fair value models for the PSUs use valuation assumptions	PSU Tranche # 1 P SU Tranche # 2 PSU Tranche # 3 Performance Milestone (VWAP) $ 10.00 $ 15.00 $ 20.00 Valuation method utilized Monte Carlo Monte Carlo Monte Carlo Risk-free interest rate 3.53 % 3.53 % 3.53 % Company volatility 120 % 120 % 120 % Derived service period 1.0 year 2.0 years 3.0 years Grant date fair value per award $ 9.74 $ 9.62 $ 9.46
Barnes & Noble Education, Inc.
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of stock-based compensation equity awards	Barnes & Noble Education Shares Assumed Stock options 25,191 Restricted stock award 4,853 Restricted stock unit 1,518 Total equity awards assumed 31,562

NONCONTROLLING INTEREST (Tables

NONCONTROLLING INTEREST (Tables)	6 Months Ended
NONCONTROLLING INTEREST (Tables)	Oct. 31, 2024
NONCONTROLLING INTEREST
Schedule of ownership interest in subsidiary	The following table summarizes the ownership interest in Barnes & Noble Education: October 31, 2024 Shares Owned % of Ownership Number of Barnes & Noble Education Common Stock held by Immersion 11,006,701 40.30 % Number of Barnes & Noble Education Common Stock held by interest 16,279,830 59.70 % Total Barnes & Noble Education common stock outstanding 27,286,531 100.0 %
Schedule of weighted average ownership percentages by noncontrolling interest	The weighted average ownership percentages for the applicable reporting periods are used to attribute net income to the non-controlling interest holders and were as follows: One Month Ended Three Month Ended October 31, 2024 From June 10, 2024 to October 31, 2024 Non-controlling interest holders' weighted average ownership percentages 58.0 58.6 58.2
Schedule of effect of changes in ownership interest in subsidiary	The following table summarizes the effect of changes in ownership of Barnes & Noble Education on the Company’s equity for the periods presented (in thousands): One Month Ended July 31, 2024 Three Month Ended October 31, 2024 From June 10, 2024 to October 31, 2024 Net Income (loss) attributable to Immersion $ (4,891 ) $ 20,171 $ 9,480 Transfers from (to) non-controlling interests: Increase (decrease) in additional paid-in capital as a result of common stock issuances pursuant to vesting of equity awards, and sales of common stock $ — $ (42 ) $ 56,410 Total effect of changes in ownership interest on equity attributable to Immersion stockholders $ (4,891 ) $ 20,129 $ 65,890

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
INCOME TAXES (Tables)	Oct. 31, 2024
INCOME TAXES
Schedule of income tax provisions	Provision for income taxes for the month ended July 31, 2024, and the three and six October 31, 2024 June 30, 2023 One Month Ended Three Months Ended Six Months Ended July 31, 2 024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Income (loss) before provision for income taxes $ (5,457 ) $ 63,400 $ 9,872 $ 83,258 $ 19,657 Provision for income taxes (976 ) (7,641 ) (2,844 ) (15,104 ) (4,351 ) Effective tax rate (17.9 ) % 12.1 % 28.8 % 18.1 % 22.1 %

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
EARNINGS PER SHARE (Tables)	Oct. 31, 2024
EARNINGS PER SHARE
Schedule of reconciliation used in computing basic and diluted net income per share	The following are rec One Month Ended Three Months Ended Six Months Ended July 31, 2024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Numerator for basic earnings per share: Net income attributable to Immersion stockholders $ 323 $ 27,157 $ 7,028 $ 54,317 $ 15,306 Denominator: Weighted-average shares outstanding, basic 31,970 32,222 32,583 32,093 32,474 Shares related to outstanding options, unvested RSUs, RSAs, and PSUs 730 695 227 796 365 Weighted ave 32,700 32,917 32,810 32,889 32,839 Net income per share attributable to Immersion stockholders Basic $ 0.01 $ 0.84 $ 0.22 $ 1.69 $ 0.47 Diluted $ 0.01 $ 0.83 $ 0.21 $ 1.65 $ 0.47
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	For the month ended July 31, 2024 and the three and six October 31, 2024 June 30, 2023 These outstanding securities consisted of the following (in thousands): One Month Ended Three Months Ended Six Months Ended July 31, 2024 October 31, 2024 June 30, 2023 October 31, 2024 June 30, 2023 Stock options — — 136 — 138 RSUs, RSAs and PSUs — 5 10 3 5 Total — 5 146 3 143

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands	6 Months Ended
	Oct. 31, 2024 USD ($) Number	Jun. 10, 2024 USD ($)	Apr. 30, 2024 USD ($)
SIGNIFICANT ACCOUNTING POLICIES
Noncontrolling interest in consolidated subsidiaries	$ 171,606		$ 0
Number of operating segments \| Number	2
Number of reportable segments \| Number	2
Barnes & Noble Education, Inc.
SIGNIFICANT ACCOUNTING POLICIES
Merchandise inventories		$ 336,741
Textbook rental inventories		$ 9,835
Restricted cash	$ 17,300
Revenue, Description of Payment Terms	payment terms are generally 30 days and do not extend beyond one year.
Barnes & Noble Education, Inc. \| Maximum
SIGNIFICANT ACCOUNTING POLICIES
Rental periods duration	1 year
Barnes & Noble Education, Inc. \| Prepaid Expenses and Other Current Assets [Member]
SIGNIFICANT ACCOUNTING POLICIES
Restricted cash	$ 14,900
Barnes & Noble Education, Inc. \| Other Noncurrent Assets [Member]
SIGNIFICANT ACCOUNTING POLICIES
Restricted cash	$ 2,400

BUSINESS COMBINATION - Schedule

BUSINESS COMBINATION - Schedule of purchase price allocation (Details)	Jun. 10, 2024 USD ($)
Assets acquired
Deferred tax assets - noncurrent	$ 700
Liabilities assumed
Deferred tax liabilities – noncurrent	1,300
Restricted cash included in prepaid expenses and other current assets	4,800,000
Restricted cash included in other noncurrent assets	1,000,000
Barnes & Noble Education, Inc.
Assets acquired
Cash and cash equivalents	14,736,000
Accounts receivable, net	113,743,000
Merchandise inventories	336,741,000
Textbook rental inventories	9,835,000
Prepaid expenses and other current assets (including $4.8 million in restricted cash)	26,969,000
Property and equipment, net	118,818,000
Operating lease right-of-use assets	155,664,000
Intangible assets, net	95,000,000
Other assets noncurrent (including $1.0 million in restricted cash)	11,634,000
Total assets acquired	883,140,000
Liabilities assumed
Accounts payable	279,456,000
Accrued liabilities	51,123,000
Deferred revenue – current	7,651,000
Operating lease liabilities – current	80,263,000
Deferred tax liabilities – noncurrent	636,000
Operating lease liabilities – noncurrent	107,400,000
Deferred revenue – noncurrent	3,393,000
Other long-term liabilities	12,413,000
Long-term borrowings	101,235,000
Total liabilities assumed	643,570,000
Net assets acquired	239,570,000
Total consideration transferred	50,133,000
Less: Net assets acquired	(239,570,000)
Plus: noncontrolling interest	203,657,000
Goodwill	$ 14,220,000

BUSINESS COMBINATION - Schedu_2

BUSINESS COMBINATION - Schedule of identifiable intangible assets acquired (Details) $ in Thousands	Jun. 10, 2024 USD ($)
Customer relationships
BUSINESS COMBINATION
Estimated Life, Finite-lived intangible assets acquired	13 years
Barnes & Noble Education, Inc.
BUSINESS COMBINATION
Total intangible assets acquired	$ 95,000
Barnes & Noble Education, Inc. \| Customer relationships
BUSINESS COMBINATION
Finite-lived intangible assets acquired	50,000
Barnes & Noble Education, Inc. \| Trade name
BUSINESS COMBINATION
Indefinite intangible assets acquired	$ 45,000

BUSINESS COMBINATION - Schedu_3

BUSINESS COMBINATION - Schedule of pro forma condensed combined financial information (Details) - Barnes & Noble Education, Inc. - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Jun. 30, 2023
BUSINESS COMBINATION
Revenues	$ 616,249	$ 221,171	$ 928,105	$ 667,299
Net income (loss)	$ 57,256	$ (35,189)	$ 1,569	$ (48,975)

BUSINESS COMBINATION - Narrativ

BUSINESS COMBINATION - Narrative (Details)		1 Months Ended	3 Months Ended	6 Months Ended
BUSINESS COMBINATION - Narrative (Details)	Jun. 10, 2024 USD ($) Number $ / shares shares	Jul. 31, 2024 USD ($)	Oct. 31, 2024 USD ($)	Oct. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)
BUSINESS COMBINATION
Deferred tax assets	$ 700
Barnes and Noble Education, Inc. [Member]
BUSINESS COMBINATION
Description of reverse stock split	The following is presented on a post-reverse stock split basis, which is defined as a reverse stock split of Barnes & Noble Education’s outstanding shares of common stock at a ratio of 1-for-100, effective as of June 11, 2024.
Fair value of the noncontrolling interest	$ 203,657,000
Acquisition-date fair value (in dollars per share) \| $ / shares	$ 13.4
Total consideration transferred	$ 50,133,000
Barnes and Noble Education, Inc. [Member] \| Securities Purchase and Debt Conversion Agreement
BUSINESS COMBINATION
Number of existing directors \| Number	2
Business Acquisition, Percentage of Voting Interests Acquired	42%
Number of Directors appointed in board \| Number	5
Total consideration transferred	$ 50,100,000
Cash consideration paid	52,200,000
Business Acquisition, Transaction costs incurred	$ 2,100,000
Business Acquisition, Acquisition related costs incurred				$ 1,200,000
Net operating revenue		$ 88,000,000	$ 602,100,000	737,200,000
Business Acquisition, Direct and incremental acquisition-related expenses excluded from pro forma net loss				1,200,000
One-time severance payment excluded from pro forma net loss				$ 1,500,000
Business Acquisition, Direct and incremental acquisition-related expenses included in the pro forma net loss					$ 1,200,000
One-time severance payment included in the pro forma net loss					$ 1,500,000
Percentage of discounted cash flows used to estimate the fair value of the intangible assets acquired	21%
Barnes and Noble Education, Inc. [Member] \| Securities Purchase and Debt Conversion Agreement \| Rights Offering
BUSINESS COMBINATION
Number of common shares authorized to be purchased to existing stock holders upon non-transferable subscription rights \| shares	9,000,000
Acquisition-date fair value (in dollars per share) \| $ / shares	$ 5
Payments to Acquire Businesses, Gross	$ 45,000,000
Business Acquisition, Transaction Costs	2,500,000
Gross proceeds from issuance of common stock by acquiree	95,000,000
Repayment of debt by acquiree	80,700,000
Barnes and Noble Education, Inc. [Member] \| Securities Purchase and Debt Conversion Agreement \| Toro 18 Holdings LLC \| Rights Offering
BUSINESS COMBINATION
Payments to Acquire Businesses, Gross	$ 45,000,000
Number of shares issued by acquiree \| shares	9,000,000
Business Acquisition, Transaction Costs	$ 2,500,000
Barnes and Noble Education, Inc. [Member] \| Securities Purchase and Debt Conversion Agreement \| Backstop Commitment \| Toro 18 Holdings LLC \| Rights Offering
BUSINESS COMBINATION
Payments to Acquire Businesses, Gross	$ 10,000,000
Number of shares issued by acquiree \| shares	2,006,701

SEGMENT REPORTING - Summay of f

SEGMENT REPORTING - Summay of financial information for reportable segments (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 89,943	$ 616,249	$ 6,983	$ 799,738	$ 14,057
Total operating expenses	27,587	86,332	3,870	144,615	7,685
Operating income (loss)	(10,515)	64,407	3,113	75,936	6,372
Immersion
Segment Reporting Information [Line Items]
Total revenues	1,900	14,127	6,983	62,552	14,057
Total operating expenses	1,752	4,165	3,870	17,576	7,685
Operating income (loss)	148	9,962	3,113	44,976	6,372
Barnes & Noble Education
Segment Reporting Information [Line Items]
Total revenues	88,043	602,122	0	737,186	0
Total cost of sales (excludes depreciation and amortization expense)	72,871	465,510	0	579,187	0
Total operating expenses	25,835	82,167	0	127,039	0
Operating income (loss)	$ (10,663)	$ 54,445	$ 0	$ 30,960	$ 0

SEGMENT REPORTING - Narrative (

SEGMENT REPORTING - Narrative (Details)	6 Months Ended
SEGMENT REPORTING - Narrative (Details)	Oct. 31, 2024 Number
SEGMENT REPORTING
Number of operating segments	2
Number of reportable segments	2

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregated Revenue (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 89,943	$ 616,249	$ 6,983	$ 799,738	$ 14,057
Immersion Corporation [Member] \| Total royalty and license revenue
Disaggregation of Revenue [Line Items]
Total revenues	1,900	14,127	6,983	62,552	14,057
Immersion Corporation [Member] \| Fixed fee license revenue
Disaggregation of Revenue [Line Items]
Total revenues	483	10,676	1,254	56,003	2,404
Immersion Corporation [Member] \| Per-unit royalty revenue
Disaggregation of Revenue [Line Items]
Total revenues	$ 1,417	$ 3,451	$ 5,729	$ 6,549	$ 11,653

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - Immersion Corporation [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Apr. 30, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets - current	$ 6.7		$ 6.7	$ 6.6
Contract assets - long-term	24.3		24.3
Increase (decrease) in contract with customer, asset			$ 24.4
Per-unit royalty revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Royalty revenue, adjustment	$ 0	$ 0.3

REVENUE RECOGNITION - Disaggr_2

REVENUE RECOGNITION - Disaggregated revenue (Details 1) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Oct. 31, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 89,943	$ 616,249	$ 6,983		$ 799,738	$ 14,057
Barnes & Noble Education, Inc.
Disaggregation of Revenue [Line Items]
Total revenues	88,043	602,122	0	$ 737,186	737,186	0
Product and other \| Barnes & Noble Education, Inc.
Disaggregation of Revenue [Line Items]
Total revenues	85,045	559,674	0	689,792	689,792	0
Course material sale \| Barnes & Noble Education, Inc.
Disaggregation of Revenue [Line Items]
Total revenues	65,559	431,443		523,816
General merchandise sale \| Barnes & Noble Education, Inc.
Disaggregation of Revenue [Line Items]
Total revenues	15,144	99,659		130,811
Services and other revenue \| Barnes & Noble Education, Inc.
Disaggregation of Revenue [Line Items]
Total revenues	4,342	28,572		35,165
Course material rental income \| Barnes & Noble Education, Inc.
Disaggregation of Revenue [Line Items]
Total revenues	$ 2,998	$ 42,448	$ 0	$ 47,394	$ 47,394	$ 0

REVENUE RECOGNITION - Deferred

REVENUE RECOGNITION - Deferred Revenue (Details) - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2024	Jun. 30, 2023
Immersion Corporation [Member]
Movement in Deferred Revenue [Roll Forward]
Deferred revenue at April 30, 2024	$ 20,472	$ 17,395
Additions to deferred revenue during the period	1,312	0
Reductions to deferred revenue for revenue recognized during the period	(11,566)	(2,387)
Deferred revenue balance at October 31, 2024	10,218	15,008
Balance Sheet classification:
Deferred revenue balance at the end of period:	10,218	$ 15,008
Barnes and Noble Education, Inc. [Member]
Movement in Deferred Revenue [Roll Forward]
Deferred revenue at April 30, 2024	11,044
Additions to deferred revenue during the period	91,225
Reductions to deferred revenue for revenue recognized during the period	(61,392)
Deferred revenue balance at October 31, 2024	40,877
Balance Sheet classification:
Deferred revenue balance at the end of period:	$ 40,877

REVENUE RECOGNITION - Performan

REVENUE RECOGNITION - Performance Obligation (Details) - Fixed fee license revenue - Performance Obligation B $ in Millions	Oct. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 10.2
One to three years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	7.4
More than three years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 2.8

INVESTMENTS AND FAIR VALUE ME_3

INVESTMENTS AND FAIR VALUE MEASUREMENTS - NARRATIVE (Details) - USD ($)	Oct. 31, 2024	Apr. 30, 2024
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, total aggregated loss	$ 22,000	$ 100,000
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	$ 10,800,000	5,600,000
U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities in unrealized loss position, Total		$ 25,200,000

INVESTMENTS AND FAIR VALUE ME_4

INVESTMENTS AND FAIR VALUE MEASUREMENTS - Current Investments (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Apr. 30, 2024
INVESTMENTS AND FAIR VALUE MEASUREMENTS
Marketable securities	$ 44,413	$ 50,496
U.S. treasury securities	34,396	42,352
Short-term investments	$ 78,809	$ 92,848

INVESTMENTS AND FAIR VALUE ME_5

INVESTMENTS AND FAIR VALUE MEASUREMENTS - Noncurrent Investments (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Apr. 30, 2024
INVESTMENTS AND FAIR VALUE MEASUREMENTS
U.S. treasury securities	$ 16,101	$ 19,747
Corporate bonds	21,246	26,798
Investments- noncurrent	$ 37,347	$ 46,545

INVESTMENTS AND FAIR VALUE ME_6

INVESTMENTS AND FAIR VALUE MEASUREMENTS - AMORTIZED COST (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Apr. 30, 2024
Debt and Equity Securities, FV-NI
Cost or Amortized Cost	$ 115,672	$ 137,646
Unrealized Gains	4,234	7,632
Unrealized Losses	(3,750)	(5,885)
Fair Value	116,156	139,393
Marketable Equity Securities \| Equity securities
Debt and Equity Securities, FV-NI
Cost or Amortized Cost	45,339	50,645
Unrealized Gains	2,802	5,656
Unrealized Losses	(3,728)	(5,805)
Fair Value	44,413	50,496
Marketable Debt Securities
Debt and Equity Securities, FV-NI
Cost or Amortized Cost	70,333	87,001
Unrealized Gains	1,432	1,976
Unrealized Losses	(22)	(80)
Fair Value	71,743	88,897
Marketable Debt Securities \| U.S. treasury securities
Debt and Equity Securities, FV-NI
Cost or Amortized Cost	49,749	61,306
Unrealized Gains	748	825
Unrealized Losses	0	(32)
Fair Value	50,497	62,099
Marketable Debt Securities \| Corporate bonds
Debt and Equity Securities, FV-NI
Cost or Amortized Cost	20,584	25,695
Unrealized Gains	684	1,151
Unrealized Losses	(22)	(48)
Fair Value	$ 21,246	$ 26,798

INVESTMENTS AND FAIR VALUE ME_7

INVESTMENTS AND FAIR VALUE MEASUREMENTS - AMORTIZED COST AND FAIR VALUE BY MATURITY (Details) $ in Thousands	Oct. 31, 2024 USD ($)
Amortized Cost
Less than 1 year	$ 33,842
1 to 5 years	36,491
Total	70,333
Fair Value
Less than 1 year	34,396
1 to 5 years	37,347
Debt securities, fair value	$ 71,743

INVESTMENTS AND FAIR VALUE ME_8

INVESTMENTS AND FAIR VALUE MEASUREMENTS - DERIVATIVE INSTRUMENT (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Apr. 30, 2024
INVESTMENTS AND FAIR VALUE MEASUREMENTS
Total financial liability, cost	$ 7,145	$ 7,935
Unrealized Gains	(3,251)	(2,495)
Total liabilities at fair value	$ 3,894	$ 5,440
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Exchange Traded Options [Member]
INVESTMENTS AND FAIR VALUE MEASUREMENTS
Cost	$ 7,145	$ 7,935
Unrealized Gains	(3,251)	(2,495)
Derivative instruments	$ 3,894	$ 5,440

INVESTMENTS AND FAIR VALUE ME_9

INVESTMENTS AND FAIR VALUE MEASUREMENTS - REALIZED AND UNREALIZED GAINS AND LOSSES EQUITY AND DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Jun. 30, 2023
INVESTMENTS AND FAIR VALUE MEASUREMENTS
Net unrealized gains (losses) recognized on marketable equity securities	$ 2,839	$ (2,407)	$ (1,255)	$ (776)	$ 759
Net realized gains recognized on marketable equity securities	704	834	4,561	3,941	6,230
Net unrealized gains (losses) recognized on derivative instruments	1,128	1,282	(91)	757	(194)
Net realized gains recognized on derivative instruments	172	866	1,520	3,462	2,237
Net realized gains recognized on marketable debt securities	1,056	35	217	1,308	217
Total net gains recognized in interest and other income (loss), net	$ 5,899	$ 610	$ 4,952	$ 8,692	$ 9,249

INVESTMENTS AND FAIR VALUE M_10

INVESTMENTS AND FAIR VALUE MEASUREMENTS - FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON RECURRING BASIS (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Apr. 30, 2024
Liabilities, Fair Value Disclosure [Abstract]
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Derivative instruments	$ 3,894	$ 5,440
Fair value, measurements, recurring
Assets, Fair Value Disclosure [Abstract]
U.S. treasury securities	50,497	62,099
Equity securities	44,413	50,496
Corporate bonds	21,246	26,798
Total assets at fair value	116,156	139,393
Liabilities, Fair Value Disclosure [Abstract]
Derivative instruments	3,894	5,440
Total liabilities at fair value	3,894	5,440
Fair value, measurements, recurring \| Fair Value, Inputs, Level 1
Assets, Fair Value Disclosure [Abstract]
U.S. treasury securities	0	0
Equity securities	44,413	50,496
Corporate bonds	0	8,220
Total assets at fair value	44,413	58,716
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]
U.S. treasury securities	50,497	62,099
Equity securities	0	0
Corporate bonds	21,246	18,578
Total assets at fair value	71,743	80,677
Liabilities, Fair Value Disclosure [Abstract]
Derivative instruments	3,894	5,440
Total liabilities at fair value	3,894	5,440
Fair value, measurements, recurring \| Fair Value, Inputs, Level 3
Assets, Fair Value Disclosure [Abstract]
U.S. treasury securities	0	0
Equity 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

LEASES - Schedule of Additional

LEASES - Schedule of Additional Information Related to Operating Leases (Details) - USD ($) $ in Thousands	5 Months Ended
	Oct. 31, 2024	Jun. 30, 2023
Immersion Corporation [Member]
Lessee, Lease, Description [Line Items]
Weighted-average remaining lease term (in years)	1 year 6 months	8 months 12 days
Weighted-average discount rate	4.70%
Barnes and Noble Education, Inc. [Member]
Lessee, Lease, Description [Line Items]
Cash paid for amounts included in the measurement of lease liabilities	$ 27,421
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 48,143
Weighted-average remaining lease term (in years)	4 years 8 months 12 days
Weighted-average discount rate	6.60%

LEASES - Schedule of Lease Expe

LEASES - Schedule of Lease Expense Related to Contracts Recognized as Cost of Sales in the Condensed Consolidated Statement of Operations (Details) - Barnes and Noble Education, Inc. [Member] - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	5 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Oct. 31, 2024
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 2,279	$ 26,039	$ 31,826
Variable lease payments	5,967	29,771	39,036
Sublease income	1,006	15,138	19,399
Total lease cost	$ 9,252	$ 70,948	$ 90,261

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	Oct. 31, 2024	Jun. 10, 2024
Barnes and Noble Education, Inc. [Member]
Lessee, Lease, Description [Line Items]
Unfavorable lease liabilities		$ 32
Barnes and Noble Education, Inc. [Member] \| Maximum
Lessee, Lease, Description [Line Items]
Initial term of lease	12 months
Immersion Corporation [Member] \| Maximum
Lessee, Lease, Description [Line Items]
Initial term of lease	12 months

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Schedule of intangible assets excluding goodwill (Details) - Barnes & Noble Education, Inc. - USD ($) $ in Thousands	Oct. 31, 2024	Apr. 30, 2024
Schedule of Intangible Assets and Goodwill [Line Items]
Intangible Assets, Gross Carrying Amount	$ 95,000
Intangible Assets, Accumulated Amortization	(1,496)
Intangible Assets, Net Carrying Amount	$ 93,504	$ 0
Intangible Assets, Weighted-average remaining life (Years)	12 years 7 months 6 days
Customer relationships
Schedule of Intangible Assets and Goodwill [Line Items]
Intangible Assets, Gross Carrying Amount	$ 50,000
Intangible Assets, Accumulated Amortization	(1,496)
Intangible Assets, Net Carrying Amount	48,504
Trade name
Schedule of Intangible Assets and Goodwill [Line Items]
Intangible Assets, Gross Carrying Amount	45,000
Intangible Assets, Accumulated Amortization	0
Intangible Assets, Net Carrying Amount	$ 45,000

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Schedule of Estimated amortization expense of the intangible assets to be recognized (Details) - Barnes & Noble Education, Inc. - Customer relationships $ in Thousands	Oct. 31, 2024 USD ($)
Finite-Lived Intangible Assets [Line Items]
Remainder of 2025	$ 1,923
2026	3,846
2027	3,846
2028	3,846
2029	3,846
Thereafter	31,197
Total	$ 48,504

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - Barnes & Noble Education, Inc. - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	5 Months Ended	6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Oct. 31, 2024	Oct. 31, 2024	Jun. 10, 2024	Apr. 30, 2024
Schedule of Intangible Assets and Goodwill [Line Items]
Goodwill		$ 14,220	$ 14,220	$ 14,220	$ 14,200	$ 0
Customer relationships
Schedule of Intangible Assets and Goodwill [Line Items]
Finite-Lived Intangible Assets, Amortization Method				straight-line method
Amortization expense	$ 300	$ 1,000	$ 1,500

DEBT - Summary of outstanding b

DEBT - Summary of outstanding borrowing (Details) - Barnes & Noble Education, Inc. - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2024	Apr. 30, 2024
Balance sheet classification:
Long-term borrowings	$ 177,551	$ 0
Asset-backed revolving credit facility
DEBT
Debt instrument, Maturity Date	Jun. 09, 2028
Balance sheet classification:
Long-term borrowings	$ 177,551
Total debt	$ 177,551

DEBT - Narrative (Details)

DEBT - Narrative (Details) - Barnes & Noble Education, Inc. - Asset-backed revolving credit facility $ in Millions	5 Months Ended	6 Months Ended
	Oct. 31, 2024 USD ($)	Oct. 31, 2024 USD ($)
DEBT
Debt instrument, Term		4 years
Line of Credit Facility, Maximum Borrowing Capacity	$ 325	$ 325
Debt instrument, Maturity Date		Jun. 09, 2028
Consecutive period after the first year anniversary of the Closing Date, for financial metrics to be achieved		6 months
Percentage of spreads reducement, after financial metrics achievement		0.25%
Period after the Closing Date, for financial metrics start period upon covenant terms		6 months
Requirement of minimum Consolidated Fixed Charge Coverage Ratio		1.10 to 1.00
Trailing period of test for maintenance of minimum Consolidated Fixed Charge Coverage Ratio		12 months
Trailing period for the first test date for maintenance of minimum Consolidated EBITDA		6 months
Trailing period for the second test date for maintenance of minimum Consolidated EBITDA		9 months
Trailing period for the third test date for maintenance of minimum Consolidated EBITDA		12 months
Line of Credit Facility, Commitment Fee Percentage		1%
Line of Credit Facility, Percentage of Commitment Fee amount payable at third quarter		50%
Line of Credit Facility, Percentage of Commitment Fee amount payable at second quarter of next fiscal year		50%
Line of Credit Facility, Covenant Compliance		As of October 31, 2024, and through the date of this filing, Barnes & Noble Education was in compliance with all debt covenants under the Restated ABL Facility.
Proceeds from Lines of Credit	404.1
Repayments of Lines of Credit	327.8
Outstanding borrowings	177.6	$ 177.6
Letter of Credit [Member]
DEBT
Debt Instrument, Face Amount	$ 3.6	$ 3.6
Secured Overnight Financing Rate (“SOFR”)
DEBT
Debt Instrument, Description of Variable Rate Basis		Secured Overnight Financing Rate (“SOFR”)
Debt Instrument, Interest Rate, Stated Percentage	2.50%	2.50%
Debt Instrument, Basis Spread on Variable Rate		3.50%
Minimum Availability amount to be maintained		$ 25
Period after the Closing Date, for Minimum Availability amount to be maintained		30 months
Base Rate
DEBT
Debt Instrument, Description of Variable Rate Basis		alternate base rate
Debt Instrument, Interest Rate, Stated Percentage	3.50%	3.50%
Debt Instrument, Basis Spread on Variable Rate		2.50%
Minimum Availability amount to be maintained		$ 30
Period after the Closing Date, for Minimum Availability amount to be maintained		30 months

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary of Equity Incentive Program (Details) - Immersion - shares	Oct. 31, 2024	Apr. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares available for grant (in shares)	2,824,000
RSUs outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive shares outstanding (in shares)	1,361,000	1,129,000
RSAs outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive shares outstanding (in shares)	86,000	86,000
PSUs outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive shares outstanding (in shares)	50,000	400,000

STOCK-BASED COMPENSATION - Su_2

STOCK-BASED COMPENSATION - Summary of Restricted Stock Units and Restricted Stock Awards (Details) - Immersion - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	4 Months Ended	6 Months Ended
	Apr. 30, 2024	Oct. 31, 2024
RSUs outstanding
Number of Restricted Stock Units / Awards
Beginning outstanding balance (in shares)		1,129
Granted (in shares)		424
Released (in shares)		(192)
Forfeited (in shares)		0
Ending outstanding balance (in shares)	1,129	1,361
Weighted Average Grant Date Fair Value
Beginning outstanding balance (in dollars per share)		$ 6.53
Granted (in dollars per share)		9.38
Released (in dollars per share)		5.91
Forfeited (in dollars per share)		0
Ending outstanding balance (in dollars per share)	$ 6.53	$ 7.5
Share-based Compensation Arrangement by Share-based Payment Award, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Term, outstanding	1 year 1 month 2 days	8 months 26 days
Aggregate intrinsic value, outstanding	$ 8,207	$ 11,469
RSAs outstanding
Number of Restricted Stock Units / Awards
Beginning outstanding balance (in shares)		86
Granted (in shares)		0
Released (in shares)		0
Forfeited (in shares)		0
Ending outstanding balance (in shares)	86	86
Weighted Average Grant Date Fair Value
Beginning outstanding balance (in dollars per share)		$ 7.25
Granted (in dollars per share)		0
Released (in dollars per share)		0
Forfeited (in dollars per share)		0
Ending outstanding balance (in dollars per share)	$ 7.25	$ 7.25
Share-based Compensation Arrangement by Share-based Payment Award, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Term, outstanding	1 year	5 months 26 days

STOCK-BASED COMPENSATION - PSU

STOCK-BASED COMPENSATION - PSU Activity (Details) - Immersion - Performance Shares - $ / shares	3 Months Ended	4 Months Ended	6 Months Ended
	Mar. 31, 2022	Apr. 30, 2024	Oct. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning outstanding balance (in shares)			400,000
Granted (in shares)	600,000		0
Released (in shares)			(350,000)
Forfeited (in shares)			0
Ending outstanding balance (in shares)		400,000	50,000
Weighted Average Grant Date Fair Value
Beginning outstanding balance (in dollars per share)			$ 3.63
Granted (in dollars per share)			0
Released (in dollars per share)			3.63
Forfeited (in dollars per share)			0
Ending outstanding balance (in dollars per share)		$ 3.63	$ 3.63
Share-based Compensation Arrangement by Share-based Payment Award, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Term, outstanding		5 months 1 day	2 months 1 day

STOCK-BASED COMPENSATION - Su_3

STOCK-BASED COMPENSATION - Summary of Stock-based Compensation Expenses (Details) - Immersion - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Jun. 30, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation, total	$ 863	$ 2,154	$ 760	$ 3,685	$ 1,707
Stock options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation, total	0	0	16	0	(40)
RSUs, RSAs and PSUs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation, total	$ 863	$ 2,154	$ 744	$ 3,685	$ 1,747

STOCK-BASED COMPENSATION - Su_4

STOCK-BASED COMPENSATION - Summary of Stock-based Compensation Equity Awards (Details) - Barnes & Noble Education, Inc. - Barnes and Noble Education Equity Incentive Plan shares in Thousands	Jun. 10, 2024 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total equity awards assumed	31,562
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total equity awards assumed	25,191
Restricted stock award
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total equity awards assumed	4,853
Restricted stock unit
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total equity awards assumed	1,518

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of fair value models for the PSUs use valuation assumptions (Details) - Barnes & Noble Education, Inc. - Performance Shares	6 Months Ended
	Oct. 31, 2024 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Derived service period	1 year
Tranche #1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Milestone (VWAP)	$ 10
Valuation method utilized	us-gaap:MonteCarloModelMember
Risk-free interest rate	3.53%
Company volatility	120%
Grant date fair value per award	$ 9.74
Tranche #2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Milestone (VWAP)	$ 15
Valuation method utilized	us-gaap:MonteCarloModelMember
Risk-free interest rate	3.53%
Company volatility	120%
Derived service period	2 years
Grant date fair value per award	$ 9.62
Tranche #3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Milestone (VWAP)	$ 20
Valuation method utilized	us-gaap:MonteCarloModelMember
Risk-free interest rate	3.53%
Company volatility	120%
Derived service period	3 years
Grant date fair value per award	$ 9.46

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details)

1 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

Sep. 20, 2024 Number shares

Jun. 18, 2024 shares

Mar. 30, 2023 shares

Jan. 18, 2022 shares

Jul. 31, 2024 USD ($)

Oct. 31, 2024 USD ($) shares

Jun. 30, 2023 USD ($)

Mar. 31, 2022 shares

Oct. 31, 2024 USD ($) shares

Jun. 30, 2023 USD ($)

Apr. 30, 2024 shares

Immersion Corporation [Member]

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 | $

$ 5,600,000

Unrecognized compensation cost, recognized over an estimated weighted-average period

1 year 2 months 12 days

Stock-based compensation expense | $

$ 863,000

2,154,000

$ 760,000

$ 3,685,000

$ 1,707,000

Barnes and Noble Education Equity Incentive Plan | Barnes and Noble Education, Inc. [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized compensation cost | $

15,200,000

$ 15,200,000

Unrecognized compensation cost, recognized over an estimated weighted-average period

1 year 9 months 18 days

Fair value of equity award assumed | $

33,000

$ 33,000

Stock-based compensation expense | $

100,000

1,000,000

$ 1,100,000

Maximum | Barnes and Noble Education Equity Incentive Plan | Barnes and Noble Education, Inc. [Member] | Management [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based payment award vesting period

1 year

Employee Stock Option | Immersion Corporation [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based payment award vesting period

4 years

Stock-based compensation expense | $

$ 0

$ 16,000

$ 0

$ (40,000)

Employee Stock Option | 2021 Plan | Immersion Corporation [Member]

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

Employee Stock Option | Minimum | Immersion Corporation [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based payment award expiration period

7 years

RSAs outstanding | Immersion Corporation [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of equity award outstanding (in shares)

86,000

Stock-based payment award vesting period

1 year

Number of equity award granted (in shares)

RSAs outstanding | Barnes and Noble Education Equity Incentive Plan | Barnes and Noble Education, Inc. [Member] | Management [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of equity award granted (in shares)

81,720

29,764

RSUs outstanding | Immersion Corporation [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of equity award outstanding (in shares)

1,361,000

1,129,000

Stock-based payment award vesting period

3 years

Number of equity award granted (in shares)

424,000

RSUs outstanding | Barnes and Noble Education Equity Incentive Plan | Barnes and Noble Education, Inc. [Member] | Management [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of equity award granted (in shares)

61,290

7,441

Performance Shares | Immersion Corporation [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based payment award vesting rights

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.

Number of equity award outstanding (in shares)

50,000

400,000

Number of equity award granted (in shares)

600,000

Performance Shares | Barnes and Noble Education Equity Incentive Plan | Barnes and Noble Education, Inc. [Member] | Employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based payment award expiration period

7 years

Number of equity award granted (in shares)

1,533,250

Period for average volume weighted average price

100 days

Number of tranches | Number

EMPLOYEE BENEFIT PLAN - Narrati

EMPLOYEE BENEFIT PLAN - Narrative (Detail) $ in Thousands	5 Months Ended
EMPLOYEE BENEFIT PLAN - Narrative (Detail) $ in Thousands	Oct. 31, 2024 USD ($)
Barnes & Noble Education, Inc.
Defined Benefit Plan Disclosure [Line Items]
Employee benefit expenses	$ 0

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Detail) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Oct. 31, 2024	Jun. 30, 2023	Apr. 30, 2024	Dec. 29, 2022
Class of Stock [Line Items]
Treasury stock, common (in shares)	16,409,872		16,192,492
Dividends paid	$ 3	$ 3
O 2023 Q3 Dividends [Member]
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.045
Dividends payable, Date to be Paid	Jan. 25, 2024
Dividends payable, Date of record	Jan. 14, 2024
Dividends payable, Date declared	Nov. 13, 2023
O 2023 Q4 Dividends [Member]
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.045
Dividends payable, Date to be Paid	Apr. 19, 2024
Dividends payable, Date of record	Apr. 12, 2024
Dividends payable, Date declared	Feb. 28, 2024
O 2024 Q1 Dividends [Member]
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.045
Dividends payable, Date to be Paid	Jul. 26, 2024
Dividends payable, Date of record	Jul. 08, 2024
Dividends payable, Date declared	May 08, 2024
O 2024 Q2 Dividends [Member]
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.045
Dividends payable, Date to be Paid	Oct. 18, 2024
Dividends payable, Date of record	Oct. 04, 2024
Dividends payable, Date declared	Aug. 12, 2024
Common Stock \| Stock Repurchase Program \| Maximum
Class of Stock [Line Items]
Stock repurchase program, authorized amount				$ 50
Common Stock \| December 2022 Stock Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, remaining authorized repurchase amount	$ 41.7

STOCKHOLDERS' EQUITY - Narrat_2

STOCKHOLDERS' EQUITY - Narrative (Detail 2) - Sales Agreement - Barnes & Noble Education, Inc. - At-the-Market Equity Offerings - BTIG, LLC - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Sep. 19, 2024	Oct. 31, 2024
Class of Stock [Line Items]
Maximum aggregate offering amount	$ 40
Percentage of commission from gross sales proceeds of common shares	2%
Number of shares issued and sold		1,046,460
Weighted-average sale price per share		$ 9.35
Proceeds from stock issued and sold, net of commissions		$ 9.6

NONCONTROLLING INTEREST - Sched

NONCONTROLLING INTEREST - Schedule of ownership interest in subsidiary (Detail) - Barnes & Noble Education, Inc.	Oct. 31, 2024 shares
NONCONTROLLING INTEREST
Total Barnes & Noble Education common stock outstanding	27,286,531
Total percentage of ownership	100%
Total Stockholders' Equity Attributable to Immersion Stockholder
NONCONTROLLING INTEREST
Number of Barnes & Noble Education Common Stock held by Immersion	11,006,701
Noncontrolling Interest
NONCONTROLLING INTEREST
Number of Barnes & Noble Education Common Stock held by noncontrolling interest	16,279,830
Direct Ownership [Member] \| Total Stockholders' Equity Attributable to Immersion Stockholder
NONCONTROLLING INTEREST
Percentage of Ownership of Barnes & Noble Education common stock held by Immersion	40.30%
Direct Ownership [Member] \| Noncontrolling Interest
NONCONTROLLING INTEREST
Percentage of Ownership Barnes & Noble Education common stock held by noncontrolling interest	59.70%

NONCONTROLLING INTEREST - Sch_2

NONCONTROLLING INTEREST - Schedule of weighted average ownership percentages by noncontrolling interest (Detail)	1 Months Ended	3 Months Ended	5 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Oct. 31, 2024
Barnes & Noble Education, Inc.
NONCONTROLLING INTEREST
Non-controlling interest holders' weighted average ownership percentages	58%	58.60%	58.20%

NONCONTROLLING INTEREST - Sch_3

NONCONTROLLING INTEREST - Schedule of effect of changes in ownership interest in subsidiary (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Oct. 31, 2024	Jun. 30, 2023
NONCONTROLLING INTEREST
Net Income (Loss) Attributable to Parent	$ 323	$ 27,157	$ 7,028		$ 54,317	$ 15,306
Barnes & Noble Education, Inc.
NONCONTROLLING INTEREST
Net Income (Loss) Attributable to Parent	(4,891)	20,171		$ 9,480
Transfers from (to) non-controlling interests:
Increase (decrease) in additional paid-in capital as a result of common stock issuances pursuant to vesting of equity awards, and sales of common stock	0	(42)		56,410
Total effect of changes in ownership interest on equity attributable to Immersion stockholders	$ (4,891)	$ 20,129		$ 65,890

INCOME TAXES - Schedule of Inco

INCOME TAXES - Schedule of Income Tax Provisions (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Jun. 30, 2023
Income Tax Disclosure [Line Items]
Income (loss) before provision for income taxes	$ (5,457)	$ 63,400	$ 9,872	$ 83,258	$ 19,657
Provision for income taxes	$ (976)	$ (7,641)	$ (2,844)	$ (15,104)	$ (4,351)
Effective tax rate	(17.90%)	12.10%	28.80%	18.10%	22.10%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
INCOME TAXES - Narrative (Detail) - USD ($) $ in Thousands	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Jun. 30, 2023
Income Tax Contingency [Line Items]
Unrecognized tax benefits		$ 7,600		$ 7,600
Unrecognized tax benefits, income tax penalties accrued		200		200
Amount of unrecognized tax benefits that would affect effective tax rate, if recognized		7,600		7,600
Provision for income taxes	$ 976	7,641	$ 2,844	15,104	$ 4,351
Net income (loss) before provision for income taxes	$ (5,457)	$ 63,400	$ 9,872	$ 83,258	$ 19,657
Effective income tax rate	(17.90%)	12.10%	28.80%	18.10%	22.10%
Barnes & Noble Education, Inc.
Income Tax Contingency [Line Items]
Provision for income taxes				$ 1,300
Net income (loss) before provision for income taxes				$ (48,500)
Effective income tax rate				(2.60%)
Federal \| Barnes & Noble Education, Inc.
Income Tax Contingency [Line Items]
Net operating loss carryforwards		$ 265,500		$ 265,500

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation used in Computing Basic and Diluted Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Jun. 30, 2023
Numerator for basic earnings per share:
Net income attributable to Immersion stockholders	$ 323	$ 27,157	$ 7,028	$ 54,317	$ 15,306
Denominator:
Weighted-average shares outstanding, basic	31,970	32,222	32,583	32,093	32,474
Shares related to outstanding options, unvested RSUs, RSAs, and PSUs	730	695	227	796	365
Weighted average shares outstanding, diluted	32,700	32,917	32,810	32,889	32,839
Net income per share attributable to Immersion stockholders
Basic	$ 0.01	$ 0.84	$ 0.22	$ 1.69	$ 0.47
Diluted	$ 0.01	$ 0.83	$ 0.21	$ 1.65	$ 0.47

EARNINGS PER SHARE - Outstandin

EARNINGS PER SHARE - Outstanding Securities (Details) - shares shares in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities that were excluded from the computation of diluted net income per share (in shares)	0	5	146	3	143
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities that were excluded from the computation of diluted net income per share (in shares)	0	0	136	0	138
RSUs, RSAs and PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities that were excluded from the computation of diluted net income per share (in shares)	0	5	10	3	5

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - LGE $ in Millions					3 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) - LGE $ in Millions	Jun. 02, 2023 KRW (₩)	Jun. 02, 2023 USD ($)	Apr. 08, 2020 KRW (₩)	Apr. 08, 2020 USD ($)	Dec. 31, 2021 USD ($)	Oct. 31, 2024 USD ($)
Loss Contingencies [Line Items]
Loss contingency, accrued withholding taxes, interest and penalties						$ 0.3
Withholding taxes on royalty payments \| Pending Litigation \| Korean tax authority [Member]
Loss Contingencies [Line Items]
Impairment of long-term deposits					$ 0.8
Long-term deposits	₩ 3,024,877,044	$ 2.3	₩ 5,916,845,454	$ 5

SUPPLEMENTARY INFORMATION - Nar

SUPPLEMENTARY INFORMATION - Narrative (Details) - Barnes & Noble Education, Inc. - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
	Jul. 31, 2024	Oct. 31, 2024	Jun. 30, 2023	Oct. 31, 2024	Oct. 31, 2024	Jun. 30, 2023
Supplementary Information Disclosures [Line Items]
Restructuring and other charges	$ 2,627	$ 59	$ 0	$ 5,100	$ 5,064	$ 0
Severance and other employee termination and benefit costs				2,100
Severance costs related to the Chief Executive Officer				2,000
Gain (loss) related to fixed assets disposal				(1,900)
Costs associated with legal and advisory professional services restructuring and process improvements and other charges				800
Expense (reversal) related to the termination of liabilities related to a frozen retirement benefit plan				$ (1,400)

SUBSEQUENT EVENT - Narrative (D

SUBSEQUENT EVENT - Narrative (Details) - Subsequent Event - USD ($) $ / shares in Units, $ in Millions	Dec. 06, 2024	Nov. 27, 2024	Nov. 08, 2024
S 2024 Q2 Dividends [Member]
SUBSEQUENT EVENTS
Dividends payable, Date declared			Nov. 08, 2024
Dividends payable (in dollars per share)			$ 0.245
Dividends payable, Date to be Paid			Jan. 24, 2025
Dividends payable, Date of record			Jan. 10, 2025
Sales Agreement \| Barnes & Noble Education, Inc. \| At-the-Market Equity Offerings
SUBSEQUENT EVENTS
Number of shares issued by acquiree	2,928,145
Weighted-average sale price per share	$ 10.32
Proceeds from stock issued and sold, net of commissions	$ 29.7
Maximum aggregate offering amount		$ 40