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Immersion Corp (IMMR) Q1 2021 Earnings Call Transcript

Operator
Good day, and welcome to the Immersion Q1, 2021 Earnings Conference Call. Today's conference is being recorded.
At this time, I would like to turn the conference over to Chief Financial Officer, Aaron Akerman. Please go ahead, sir.
Aaron Akerman --
Chief Financial Officer
Good afternoon, and thank you for joining us today on Immersion's first quarter 2021 conference call. This call is also being broadcast live over the web, and can be accessed from the Investor Relations section of our website at ir.immersion.com. With me on today's call is Jared Smith, our interim CEO.
During this call, we may make forward-looking statements, which may include any expectations, projections or other characterizations of future events or circumstances and include statements regarding the impact of COVID-19 on our business, and the business of our customers and suppliers as well as on the economy in general and also include projected financial results or operating metrics, business strategies, litigation or absence of litigation, anticipated future products, future expense reductions, anticipated tax expenses, anticipated market demand or opportunities, our operating model and other forward-looking topics.

China , Jared-smith , Aaron-akerman , Anthony-stoss , Derek-soderberg , Panasonic-mobile-communications , Google , China-mobile , Aaron , Immersion-corp , Samsung , Bmw

Immersion Corporation Reports Fourth Quarter 2020 Results – Consumer Electronics Net

3 weeks ago
Company Results at Top End or Exceeds Preliminary Announcement;
Reports Over 40% Sequential Quarterly Revenue Growth and GAAP and Non-GAAP EPS of $0.30 and $0.29 per share
SAN FRANCISCO–(BUSINESS WIRE)–#haptics–Immersion Corporation (NASDAQ: IMMR), the leading developer and provider of technologies for haptics, today reported financial results for the fourth quarter ended December 31, 2020.
Fourth Quarter Financial Summary:
Total revenues of $10.9 million, compared to $11.5 million in the fourth quarter of 2019. Royalty and license revenues were $10.9 million, compared to $11.4 million in the fourth quarter of 2019.
GAAP operating expenses of $5.7 million declined 48% from $11.0 million in the fourth quarter of 2019. Non-GAAP operating expenses of $3.5 million declined 58% from non-GAAP operating expenses of $8.3 million in the fourth quarter of 2019. (See attached table for a reconciliation of GAAP to non-GAAP financial measures.)

United-states , Jared-smith , Aaron-akerman , Exchange-commission , Securities-exchange , Woory-industrial-co , Immersion-corporation , Company-results , Top-end , Exceeds-preliminary-announcement , Sequential-quarterly-revenue-growth , Quarter-financial-summary

Immersion Corp (IMMR) Q4 2020 Earnings Call Transcript

Operator
Good day, ladies and gentlemen, and welcome to the Immersion Corporation Q4 and 2020 Earnings Conference Call. Please note that today's call is being recorded. And at this time, I would like to turn things over to Aaron Akerman, Immersion's Chief Financial Officer. Please go ahead, sir.
Aaron Akerman --
Chief Financial Officer
Good afternoon and thank you for joining us today on Immersion's fourth quarter 2020 conference call. This call is also being broadcast live over the web and can be accessed from the Investor Relations section of our website at ir.immersion.com. With me on today's call is Jared Smith, our new Interim CEO. During this call, we may make forward-looking statements, which may include any expectations, projections or other characterizations of future events or circumstances and include statements regarding the impact of COVID-19 on our business and the business of our customers and suppliers as well as on the economy in general and also include projected financial results or operating metrics, business strategies, litigation or absence of litigation, anticipated future products, future expense reductions, anticipated tax expenses, anticipated market demand or opportunities, our operating model and other forward-looking topics.

China , South-korea , South-korean , Jared-smith , Aaron-akerman , Anthony-stoss , Idtechex-research , Microchip-technology , Aaron , Immersion-corp , Exchange-commission , Samsung

Immersion Announces New Recommended Practice for Broadcasting Haptics – Consumer Electronics Net

1 month ago
The ATSC Issues Recommended Practice on Haptics for ATSC 3.0 enabling haptic content to reach viewers on mobile devices
SAN FRANCISCO–(BUSINESS WIRE)–$IMMR#ATSC30–Immersion Corporation (NASDAQ: IMMR), the leading developer and provider of technologies for haptics, today announced that the Advanced Television System Committee, Inc. (ATSC) has published Immersion’s proposal as a Recommended Practice on Haptics for ATSC 3.0. The Recommended Practice enables the addition of haptics in ATSC 3.0 broadcast and broadband content streams on mobile devices capable of haptic feedback.
This latest development provides a recommended approach for content distributors to add haptic playback capability to mobile apps and expand the distribution of haptic-enhanced content to viewers. The new feature will enable interactive content such as live sports, advertising, and gaming streamed on mobile devices to be enhanced with haptics.

United-states , Aaron-akerman , Madeleine-noland , Linda-quach , Yeshwant-muthusamy , Exchange-commission , Television-system-committee-inc , Immersion-corporation , Recommended-practice , Advanced-television-system-committee , Senior-director , ஒன்றுபட்டது-மாநிலங்களில்

Faurecia and Immersion Partner for Haptic Automotive Technologies

Press release content from Business Wire. The AP news staff was not involved in its creation.
Faurecia and Immersion Partner for Haptic Automotive Technologies
February 3, 2021 GMT
Faurecia and Immersion Partner for Haptic Automotive Technologies
NANTERRE, France & SAN FRANCISCO--(BUSINESS WIRE)--Feb 3, 2021--
Faurecia, one of the world’s leading automotive technology companies and Immersion Corporation (NASDAQ: IMMR), the leading developer and provider of technologies for haptics, today announced a multi-year license agreement, providing Faurecia with access to Immersion’s haptic technologies and solutions. The agreement enables Faurecia to develop advanced, interactive haptic user interfaces with the latest innovations from Immersion.

California , United-states , France , San-francisco , Jared-smith , Autotechinsight-webinar , Aaron-akerman , Linda-quach , Exchange-commission , Clarion-electronics , Immersion-corporation , Faurecia-clarion-electronics

Immersion Corporation: Faurecia and Immersion Partner for Haptic Automotive Technologies

Immersion Corporation: Faurecia and Immersion Partner for Haptic Automotive Technologies
Interactive touch surface applications grow in cars, driving a greater need for haptic technologies
Faurecia, one of the world's leading automotive technology companies and Immersion Corporation (NASDAQ: IMMR), the leading developer and provider of technologies for haptics, today announced a multi-year license agreement, providing Faurecia with access to Immersion's haptic technologies and solutions. The agreement enables Faurecia to develop advanced, interactive haptic user interfaces with the latest innovations from Immersion.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210203005202/en/
"Cars in the near future will be built with smart technology, which allows intuitive touch based interactions. This agreement with Immersion expands our technology ecosystem and illustrates our forward-thinking approach to meeting the technology needs of occupants for a connected and personalized experience,"

California , United-states , San-francisco , Jared-smith , Autotechinsight-webinar , Marc-maillet , Eric-fohlen-weill , Aaron-akerman , Linda-quach , Exchange-commission , Clarion-electronics , Immersion-corporation