INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables)
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9 Months Ended |
Jan. 31, 2026 |
|---|
| INVESTMENTS AND FAIR VALUE MEASUREMENTS |
|
| Schedule of current investments |
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|
|
|
Investments - current |
|
January 31, 2026 |
|
|
April 30, 2025 |
|
Marketable equity securities |
|
$ |
48,094 |
|
|
$ |
55,784 |
|
U.S. treasury securities |
|
|
— |
|
|
|
33,005 |
|
Total Investments – current |
|
$ |
48,094 |
|
|
$ |
88,789 |
|
|
| Schedule of noncurrent investments |
|
|
|
|
|
|
|
|
|
Investments - noncurrent |
|
January 31, 2026 |
|
|
April 30, 2025 |
|
Corporate bonds |
|
$ |
— |
|
|
$ |
13,880 |
|
Total Investments – noncurrent |
|
$ |
— |
|
|
$ |
13,880 |
|
|
| Schedule of short-term investments |
Marketable securities as of January 31, 2026 and April 30, 2025 consisted of the following (in thousands):
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January 31, 2026 |
|
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Cost or
Amortized
Cost |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Fair Value |
|
Marketable equity securities |
|
|
|
|
|
|
|
|
|
|
|
|
Equity securities |
|
$ |
56,975 |
|
|
$ |
6,287 |
|
|
$ |
(15,168 |
) |
|
$ |
48,094 |
|
|
|
$ |
56,975 |
|
|
$ |
6,287 |
|
|
$ |
(15,168 |
) |
|
$ |
48,094 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April 30, 2025 |
|
|
|
Cost or
Amortized
Cost |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Fair Value |
|
Marketable equity securities |
|
|
|
|
|
|
|
|
|
|
|
|
Equity securities |
|
$ |
63,677 |
|
|
$ |
6,892 |
|
|
$ |
(14,785 |
) |
|
$ |
55,784 |
|
Marketable debt securities |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. treasury securities |
|
|
32,674 |
|
|
|
331 |
|
|
|
— |
|
|
|
33,005 |
|
Corporate bonds |
|
|
13,802 |
|
|
|
147 |
|
|
|
(69 |
) |
|
|
13,880 |
|
Total marketable debt securities |
|
|
46,476 |
|
|
|
478 |
|
|
|
(69 |
) |
|
|
46,885 |
|
|
|
$ |
110,153 |
|
|
$ |
7,370 |
|
|
$ |
(14,854 |
) |
|
$ |
102,669 |
|
|
| Derivatives Not Designated as Hedging Instruments |
Immersion’s 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 the Company’s Condensed Consolidated Balance Sheets as of January 31, 2026 and April 30, 2025 (in thousands):
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January 31, 2026 |
|
|
|
Cost |
|
|
Unrealized
(Gains) Losses |
|
|
Fair Value |
|
Derivative instruments |
|
$ |
8,095 |
|
|
$ |
2,873 |
|
|
$ |
10,968 |
|
|
|
$ |
8,095 |
|
|
$ |
2,873 |
|
|
$ |
10,968 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April 30, 2025 |
|
|
|
Cost |
|
|
Unrealized
(Gains) Losses |
|
|
Fair Value |
|
Derivative instruments |
|
$ |
6,045 |
|
|
$ |
3,709 |
|
|
$ |
9,754 |
|
|
|
$ |
6,045 |
|
|
$ |
3,709 |
|
|
$ |
9,754 |
|
|
| Schedule of realized and unrealized gains and losses from equity securities and derivative instruments and realized gains and losses from marketable debt securities |
realized and unrealized gains and losses from Immersion’s equity securities and derivative instruments and realized gains and losses from Immersion’s marketable debt securities are as follows (in thousands):
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Three Months Ended January 31, |
|
Nine Months Ended January 31, |
|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
|
|
|
|
|
|
|
|
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|
Net unrealized gains (losses) recognized on marketable equity securities |
$ |
(4,203 |
) |
$ |
9,028 |
|
$ |
(988 |
) |
$ |
8,252 |
|
Net realized gains (losses) recognized on marketable equity securities |
|
(1,732 |
) |
|
2,095 |
|
|
(2,910 |
) |
|
6,037 |
|
Net unrealized gains (losses) recognized on derivative instruments |
|
(4,252 |
) |
|
(3,702 |
) |
|
837 |
|
|
(2,945 |
) |
Net realized gains recognized on derivative instruments |
|
4,053 |
|
|
5,070 |
|
|
5,677 |
|
|
8,532 |
|
Net realized gains (losses) recognized on marketable debt securities |
|
130 |
|
|
— |
|
|
(107 |
) |
|
1,308 |
|
Total net gains recognized in interest income and other income (loss), net |
$ |
(6,004 |
) |
$ |
12,491 |
|
$ |
2,509 |
|
$ |
21,184 |
|
|
| Schedule of financial instruments measured at fair value on recurring basis |
Financial instruments measured at fair value on a recurring basis as of January 31, 2026 and April 30, 2025 are classified based on the valuation technique in the table below (in thousands):
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|
January 31, 2026 |
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|
Fair Value Measurements Using |
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|
|
|
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|
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1) |
|
|
Significant
Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
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|
Total |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
Money Market funds (within cash and cash equivalents) |
|
$ |
98,842 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
98,842 |
|
Equity securities |
|
|
48,094 |
|
|
|
— |
|
|
|
— |
|
|
|
48,094 |
|
Total assets at fair value |
|
$ |
146,936 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
146,936 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
Liabilities |
|
|
|
|
|
|
|
|
|
|
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|
Derivative instruments |
|
$ |
5,140 |
|
|
$ |
5,828 |
|
|
$ |
— |
|
|
$ |
10,968 |
|
Total liabilities at fair value |
|
$ |
5,140 |
|
|
$ |
5,828 |
|
|
$ |
— |
|
|
$ |
10,968 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April 30, 2025 |
|
|
|
|
|
|
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: |
|
|
|
|
|
|
|
|
|
|
|
|
Money Market funds (within cash and cash equivalents) |
|
$ |
59,747 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
59,747 |
|
U.S. treasury securities |
|
|
— |
|
|
|
33,005 |
|
|
|
— |
|
|
|
33,005 |
|
Equity securities |
|
|
55,784 |
|
|
|
— |
|
|
|
— |
|
|
|
55,784 |
|
Corporate bonds |
|
|
3,272 |
|
|
|
10,608 |
|
|
|
— |
|
|
|
13,880 |
|
Total assets at fair value |
|
$ |
118,803 |
|
|
$ |
43,613 |
|
|
$ |
— |
|
|
$ |
162,416 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Derivative instruments |
|
$ |
6,456 |
|
|
$ |
3,298 |
|
|
$ |
— |
|
|
$ |
9,754 |
|
Total liabilities at fair value |
|
$ |
6,456 |
|
|
$ |
3,298 |
|
|
$ |
— |
|
|
$ |
9,754 |
|
|