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AVENTURA, Fla. - Immersion Corporation (NASDAQ:IMMR), currently trading at $7.06 with a market capitalization of $229 million, has received a delinquency compliance alert from Nasdaq after failing to timely file its Annual Report on Form 10-K for the fiscal year ended April 30, 2025, the company announced Friday.
The haptics technology provider said it was unable to file the report within the 15-day extension period under Rule 12b-25 due to an ongoing internal investigation at its subsidiary, Barnes & Noble Education, Inc. (BNED). The investigation has prevented management from completing the financial reporting process and preparing financial statements.
Under Nasdaq rules, Immersion has 60 calendar days from the notice date to submit a compliance plan to maintain its listing status under Rule 5250(c)(1).
The company stated in a press release that it is "working diligently" to complete the necessary work to file the Form 10-K, but noted that its ability to do so depends on BNED completing its audit committee internal investigation and the subsequent consolidation of BNED’s financial information.
Immersion, which provides touch feedback technology for mobile, automotive, gaming, and consumer electronics, acquired a controlling interest in Barnes & Noble Education on June 10, 2024. BNED operates physical and virtual bookstores for college and university campuses across the United States, and also functions as a textbook wholesaler.
The company’s shares trade on the Nasdaq under the ticker symbol IMMR.
In other recent news, Immersion Corporation has declared a quarterly cash dividend of $0.045 per share on its outstanding common stock. This dividend is scheduled to be paid on August 8, 2025, to shareholders who are on record as of July 23, 2025. The company noted that future dividends will be subject to further review and approval by its Board of Directors. The Board reserves the right to declare, adjust, or withdraw quarterly dividends in future periods as it evaluates the company’s capital allocation strategy. These developments come as part of the company’s ongoing financial planning and shareholder return strategy.
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