Immersion Corporation, a leading provider of technologies for haptics, announced that on December 23, 2025, it received a delinquency compliance alert notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that it did not timely file its Quarterly Report on Form 10-Q for the fiscal quarter.
As previously disclosed, on August 20, 2025, the Company received written notice from Nasdaq notifying the Company that it did not timely file its Annual Report on Form 10-K for the fiscal year ended April 30, 2025, and on September 29, 2025, the Company received written notice from Nasdaq notifying the Company that it did not timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2025 (the “Q1 Form 10-Q”). The Q1 Form 10-Q, the Q2 Form 10-Q, and the Form 10-K are required to be filed for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5250(c)(1). Under Nasdaq rules, the Company has to submit to Nasdaq by no later than January 7, 2026, an update to its original plan to regain compliance with Nasdaq Listing Rule 5250(c)(1) which was previously submitted to Nasdaq on October 20, 2025.
As previously reported on the Company’s Notification of Late Filings on Form 12b-25, filed with the Securities and Exchange Commission 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 its 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 Q1 Form 10-Q, the Q2 Form 10-Q, and the Form 10-K as soon as practicable to regain compliance with Nasdaq Listing Rule 5250(c)(1), but the Company’s ability to file the Q1 Form 10-Q, the Q2 Form 10-Q, and the Form 10-K remains subject to the consolidation of BNED’s financial information.
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