Immersion Corporation Receives Nasdaq Staff Determination Letter; Will Seek Hearing & Continued Listing
MWN-AI** Summary
Immersion Corporation (Nasdaq: IMMR), a key player in haptic technology, announced on February 10, 2026, that it received a Staff Determination Letter from the Nasdaq Listings Qualifications Staff due to non-compliance with its filing rules. The company has failed to submit its Quarterly Reports on Form 10-Q for the fiscal quarters ending July 31, 2025, and October 31, 2025, as well as its Annual Report on Form 10-K for the fiscal year ending April 30, 2025. This non-compliance follows earlier notifications from Nasdaq on August 20, September 29, and December 23, 2025.
The delay in filing stems from audit committee investigations involving Immersion and its subsidiary, Barnes & Noble Education, Inc. (BNED), which will necessitate restatements of previously issued financial statements. Due to the complexity of this situation, the company's management has been unable to finalize the financial reporting process for the affected periods.
While the receipt of the Staff Determination Letter does not result in immediate trading suspension or delisting, Immersion is taking steps to rectify the situation. The company plans to request a hearing before a Nasdaq Hearings Panel, which may grant an extension to stay the suspension during the appeal process. Hearings typically occur within 30 to 45 days following the request, but there is no guarantee the panel will grant any requested extensions.
Immersion Corporation, founded in 1993, specializes in touch feedback technology to enhance user interaction across various platforms. The company remains committed to resolving its compliance issues promptly to restore its standing on Nasdaq.
MWN-AI** Analysis
Immersion Corporation (Nasdaq: IMMR) recently faced a significant challenge as it received a Staff Determination Letter from Nasdaq concerning its non-compliance with Listing Rule 5250(c)(1). The crux of the issue revolves around the company's failure to file crucial financial reports with the SEC, specifically two Quarterly Reports and one Annual Report, related to audits and pending restatements stemming from investigations of the company and its subsidiary, Barnes & Noble Education, Inc.
From an investment perspective, potential or current shareholders should approach IMMR with caution. The delayed filings raise concerns regarding the company’s financial health and transparency, which could undermine investor confidence. The ongoing audits and expected restatement of financial data may lead to significant adjustments in previous earnings estimates, impacting share valuations negatively.
Despite these challenges, the company will seek a hearing before a Nasdaq Hearings Panel, which provides a temporary stay of potential suspension of trading. This route represents an opportunity for Immersion to present its case and potentially regain compliance. Investors should closely monitor the outcomes of this hearing and any communications from the company regarding forthcoming filings.
Moreover, the company's position as a leading provider of haptic technology across various sectors, including automotive and gaming, remains a fundamental strength. If it can navigate this turbulent period successfully, IMMR may continue to leverage its technology’s relevance and demand in the market.
In summary, while Immersion’s operational capabilities cannot be discounted, the immediate outlook is clouded by compliance issues and financial uncertainty. Investors would be wise to stay informed about developments and consider the potential risks before making decisions regarding their holdings in Immersion Corporation.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Immersion Corporation (“Immersion”, the “Company”, “we”, “us” or “our”) (Nasdaq: IMMR), a leading provider of technologies for haptics, today announced that, on February 10, 2026, the Company received a Staff Determination Letter from the Nasdaq Listing Qualifications Staff (the “Staff”) based on the Company’s non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “Filing Rule”), as previously notified by the Staff on August 20, 2025, September 29, 2025, and December 23, 2025. The basis for the Staff Determination Letter is that the Company has not yet filed our Quarterly Reports on Form 10-Q for the fiscal quarters ended July 31, 2025 and October 31, 2025 and our Annual Report on Form 10-K for the fiscal year ended April 30, 2025 (collectively, the “Delayed Reports”), with the Securities and Exchange Commission (the “SEC”).
As previously reported on the Company’s Notification of Late Filings on Form 12b-25, filed with the SEC on July 30, 2025, September 16, 2025 and December 16, 2025, Immersion and Barnes & Noble Education, Inc. (“BNED”), a consolidated subsidiary of the Company, were conducting audit committee investigations that will result in the restatement of previously-issued financial information (the “Restatement”). As a result of the investigations by the Immersion and BNED audit committees and the Company’s work with respect to the Restatement, management was unable to complete the Company’s financial reporting process and preparation of our financial statements for the fiscal quarters ended July 31, 2025 and October 31, 2025, and the fiscal year ended April 30, 2025. The Company is working diligently to complete the necessary work to file the Delayed Reports as soon as practicable to regain compliance with the Filing Rule.
The Staff Determination Letter noted that, upon further review, the Company did not meet the terms of the exception on February 9, 2026, granted by the Staff to regain compliance with the Filing Rule.
The Staff Determination Letter has no immediate effect and will not immediately result in the suspension of trading or delisting of the Company’s securities. The Staff Determination Letter notified the Company that it may request a hearing before a Nasdaq Hearings Panel (“Hearings Panel”), pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. A request for a hearing regarding one or more delinquent filings will automatically stay the suspension of the Company’s securities for a period of 15 calendar days from the date of the hearing request. The Company may also request a stay of the suspension, pending the hearing, when we request the hearing. Hearings are typically scheduled to occur approximately 30-45 days after the date of the hearing request. The Company intends to timely submit a request for a hearing, including a request for an extended stay pending the hearing and the Hearings Panel’s decision. There can be no assurance that the Hearings Panel will grant any of the Company’s requests for additional time.
About Immersion Corporation
Immersion Corporation (Nasdaq: IMMR) was incorporated in 1993 in California and reincorporated in Delaware in 1999.
The Company is a leading provider of touch feedback technology, also known as haptics. The Company accelerates and scales haptic experiences by providing haptic technology for mobile, automotive, gaming, and consumer electronics. Haptic technology creates immersive and realistic experiences that enhance digital interactions by engaging users’ sense of touch. Learn more at www.immersion.com .
On June 10, 2024, we acquired a controlling interest in Barnes & Noble Education. Barnes & Noble Education is a contract operator of physical and virtual bookstores for college and university campuses and K-12 institutions across the United States. Barnes & Noble Education is also a textbook wholesaler and inventory management hardware and software providers. Barnes & Noble Education operates physical, virtual, and custom bookstores, delivering essential educational content, tools, and general merchandise within a dynamic omnichannel retail environment.
Forward-looking Statements
Certain statements made in this report constitute forward-looking statements within the meaning of the federal securities laws. All statements contained in this report that do not relate to matters of historical fact should be considered forward-looking statements. For example, forward-looking statements include, without limitation, statements regarding the Company’s anticipated filing of our Delayed Reports. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees and are subject to risks described from time to time in the Company’s periodic filings with the SEC. The forward-looking statements included in this report are made only as of the date of this report, and, unless otherwise required by applicable law, the Company assumes no obligation to update any forward-looking statements, and expressly disclaims any obligation to do so, whether as a result of new information, future events or otherwise.
(IMMR – C)
View source version on businesswire.com: https://www.businesswire.com/news/home/20260213708794/en/
Investor Contact:
J. Michael Dodson
Immersion Corporation
mdodson@immersion.com
FAQ**
What impact might the audit committee investigations have on Immersion Corporation IMMR's stock price and investor confidence, given the ongoing issues surrounding their financial reporting?
How is Immersion Corporation IMMR planning to address the delayed filing of their Quarterly and Annual Reports, and what timeline has management outlined for this process?
What specific measures is Immersion Corporation IMMR taking to regain compliance with Nasdaq Listing Rule 5250(c)(1) following the receipt of the Staff Determination Letter?
In light of the recent challenges, what are the potential risks and rewards for investors considering Immersion Corporation IMMR amidst their current financial situation?
**MWN-AI FAQ is based on asking OpenAI questions about Immersion Corporation (NASDAQ: IMMR).
NASDAQ: IMMR
IMMR Trading
1.24% G/L:
$6.10 Last:
94,722 Volume:
$5.97 Open:
