Immersion Corporation Receives Nasdaq Staff Determination Letter Regarding Late Filings and Restatement Efforts
Immersion Corporation (“Immersion”, the “Company”, “we”, “us” or “our”) (Nasdaq: IMMR), a leading innovator in haptic technology, today announced that on February 10, 2026, the Company received a Staff Determination Letter from the Nasdaq Listing Qualifications Staff (the “Staff”). The letter addresses Immersion’s non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “Filing Rule”), a matter previously highlighted by the Staff in notifications dated August 20, 2025, September 29, 2025, and December 23, 2025.
The Staff Determination Letter stems from Immersion’s delayed filings of its required periodic reports with the U.S. Securities and Exchange Commission (the “SEC”). Specifically, the Company has not yet submitted its Quarterly Reports on Form 10-Q for the fiscal quarters ended July 31, 2025, and October 31, 2025, as well as its Annual Report on Form 10-K for the fiscal year ended April 30, 2025 (collectively, the “Delayed Reports”). These filings are mandatory under SEC regulations and Nasdaq listing standards.
As disclosed in previous Form 12b-25 filings submitted on July 30, 2025, September 16, 2025, and December 16, 2025, the delays in filing were due to ongoing audit committee investigations conducted by Immersion and its consolidated subsidiary, Barnes & Noble Education, Inc. (“BNED”). These investigations have revealed issues requiring a restatement of previously issued financial information (the “Restatement”). Due to the complexity and scope of these investigations, management has been unable to complete the financial reporting process and finalize the Company’s financial statements for the affected quarters and fiscal year.
Immersion is actively engaged in completing the necessary audit and financial reporting work to finalize the Delayed Reports. The Company is committed to filing these reports as soon as practicable and returning to compliance with Nasdaq’s Filing Rule. The Staff Determination Letter emphasizes that, following review, Immersion did not meet the conditions of an exception previously granted by the Staff on February 9, 2026, which would have allowed the Company additional time to regain compliance.
While the Staff Determination Letter does not have an immediate effect and will not automatically result in the suspension of trading or delisting of the Company’s securities, it does outline next steps and procedural options available to the Company. Immersion may request a hearing before a Nasdaq Hearings Panel (“Hearings Panel”) pursuant to the Nasdaq Listing Rule 5800 Series. Filing such a request automatically stays any potential suspension of trading for 15 calendar days from the date of the hearing request. The Company may also seek an extended stay of suspension pending the outcome of the hearing. Hearings typically occur approximately 30 to 45 days after the filing of a hearing request. Immersion intends to submit a timely request for a hearing, including a request for an extended stay while the Hearings Panel considers the Company’s position. There can be no assurance that the Hearings Panel will grant any requests for additional time.
About Immersion Corporation
Immersion Corporation (Nasdaq: IMMR) was originally incorporated in California in 1993 and later reincorporated in Delaware in 1999. The Company is a global leader in haptic technology, commonly referred to as touch feedback technology. Immersion’s proprietary haptic solutions enhance digital interactions by engaging users’ sense of touch, creating more immersive and realistic experiences across a variety of platforms. Its technology is applied in mobile devices, gaming, automotive interfaces, and consumer electronics, enabling users to experience tactile feedback that mirrors real-world interactions.
On June 10, 2024, Immersion acquired a controlling interest in Barnes & Noble Education, a subsidiary that operates both physical and virtual bookstores for college and university campuses as well as K-12 institutions across the United States. BNED also functions as a textbook wholesaler and provides inventory management hardware and software solutions. By combining traditional retail operations with modern omnichannel approaches, Barnes & Noble Education delivers educational content, tools, and general merchandise to a diverse set of students, educators, and institutions.
Through these strategic operations and its industry-leading technology, Immersion Corporation continues to expand its footprint in both the haptics market and the broader educational retail space, while working diligently to resolve its current SEC filing and compliance matters.
