Immersion Corp

Immersion Corporation (the “Company”) is unable to file its Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2026 (the “Form 10-Q”), within the prescribed time period, without unreasonable effort or expense. On July 30, 2025, the Company filed a Form 12b-25 notifying the United States Securities and Exchange Commission (the “SEC”) that the Company would be unable to timely file its Annual Report on Form 10-K for the fiscal year ended April 30, 2025. On September 16, 2025 and December 16, 2025, the Company filed a Form 12b-25 notifying the SEC that the Company would be unable to timely file its Quarterly Reports on Form 10-Q for the fiscal quarters ended July 31, 2025 and October 31, 2025, respectively. As previously reported, the Company’s Board of Directors (the “Board”) determined that the Company’s previously-issued financial statements for the fiscal third quarter and nine months ended January 31, 2025; the fiscal second quarter and six months ended October 31, 2024; and the second quarter and six months ended June 30, 2024, contained in its Quarterly Reports on Form 10-Q (the “Non-Reliance Periods”), as well as its disclosures related to such financial statements, including any reports, earnings releases, and investor presentations, and related communications issued by or on behalf of the Company with respect to the Non-Reliance Periods, should no longer be relied upon. As such, the Company restated the financial statements for the Non-Reliance Periods (the “Restatement”) within its Annual Report on Form 10-K for the fiscal year ended April 30, 2025 filed on March 12, 2026, as amended by the Amendment to Annual Report on Form 10-K/A filed on March 13, 2026

Immersion Corporation (the “Company”) is unable to file its Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2025 (the “Form 10-Q”), within the prescribed time period, without unreasonable effort or expense. On July 30, 2025, the Company filed a Form 12b-25 notifying the United States Securities and Exchange Commission (the “SEC”) that the Company would be unable to timely file its Annual Report on Form 10-K for the fiscal year ended April 30, 2025. On September 16, 2025, the Company filed a Form 12b-25 notifying the SEC that the Company would be unable to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2025. As previously reported, the Company’s Board of Directors (the “Board”) determined that the Company’s previously-issued financial statements for the fiscal third quarter and nine months ended January 31, 2025; the fiscal second quarter and six months ended October 31, 2024; and the second quarter and six months ended June 30, 2024, contained in its Quarterly Reports on Form 10-Q (the “Non-Reliance Periods”), as well as its disclosures related to such financial statements, including any reports, earnings releases, and investor presentations, and related communications issued by or on behalf of the Company with respect to the Non-Reliance Periods, should no longer be relied upon. The Company expects to restate the financial statements for the Non-Reliance Periods (the “Restatement”), which will be corrected within its Annual Report on Form 10-K for the fiscal year ended April 30, 2025, however the final determination regarding the scope of any such Restatement will depend on the completion of the Audit Committee’s review and the ongoing work of the Company and its independent registered public accounting firm for the fiscal year ended April 30, 2025. The Company is diligently working on the Restatement

Immersion Corporation (the “Company”) is unable to file its Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2025 (the “Form 10-Q”), within the prescribed time period, without unreasonable effort or expense. As previously reported by the Company in its Current Reports on Form 8-K filed on July 30, 2025, and September 9, 2025, in July 2025, certain information regarding the recording of cost of digital sales was brought to the attention of the management of Barnes & Noble Education, Inc. (“Barnes & Noble Education” or “BNED”), which is a consolidated subsidiary of the Company. BNED’s management promptly informed the Audit Committee of the BNED Board of Directors (the “BNED Audit Committee”), which caused the BNED Audit Committee to commence an internal investigation with the assistance of outside counsel and advisors. On July 30, 2025, the Company filed a Form 12b-25 notifying the United States Securities and Exchange Commission (the “SEC”) that the Company would be unable to timely file its Annual Report on Form 10-K for the fiscal year ended April 30, 2025. On September 9, 2025, the Company filed a Current Report on Form 8-K announcing that on September 8, 2025, the Board of Directors (the “Board”) of the Company concluded that the Company’s previously-issued unaudited interim condensed consolidated financial statements for the fiscal third quarter and nine months ended January 31, 2025; the fiscal second quarter and six months ended October 31, 2024; and the second quarter and six months ended June 30, 2024, contained in its Quarterly Reports on Form 10-Q (the “Non-Reliance Periods”), as well as its disclosures related to such financial statements, including any reports; earnings releases; investor presentations; and related communications issued by or on behalf of the Company with respect to the Non-Reliance Periods (the “Previously Issued Financial Information”), should no longer be relied upon

Immersion Corporation (the “Company”) is unable to file its Annual Report on Form 10-K for the fiscal year ended April 30, 2025 (the “Form 10-K”) within the prescribed time period, without unreasonable effort or expense. In July 2025, certain information regarding the recording of cost of sales was brought to the attention of the management of Barnes & Noble Education, Inc. (“Barnes & Noble Education” or “BNED”), which is a subsidiary of the Company. BNED’s management promptly informed the Audit Committee of the BNED Board of Directors (the “BNED Audit Committee”), which caused the BNED Audit Committee to commence an internal investigation with the assistance of outside counsel and advisors. The investigation at BNED is ongoing and all parties are working diligently to complete the investigation. However, based on initial findings, which could change as the investigation is in its early stages, BNED’s management believes that it may have a potential overstatement of up to $23.0 million in the aggregate to BNED’s accounts receivable balance as of the Company’s fiscal year ended April 30, 2025, which BNED believes is the cumulative net impact of overstatements and understatements to its cost of sales during the fiscal years 2024 and 2025, impacting results of operations in those periods. Based on the BNED Audit Committee’s investigation to date, the Company believes that these potential impacts may have resulted from the actions of a payment processing employee, who has been suspended pending the results of the BNED Audit Committee’s investigation. BNED has not reached a conclusion whether any restatement of previously issued financial statements will be required as a result of the investigation. In addition, certain other financial reporting process matters require resolution in addition to any impact from the conclusion of the ongoing investigation

Immersion Corporation (the “Company”) has determined that it will not be able to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 (the “Form 10-Q”) by August 14, 2024, the original due date for such filing, without unreasonable effort or expense, due to delays in obtaining, compiling and reviewing certain information included in the Form 10-Q as a result of the Company’s acquisition of a controlling interest in Barnes & Noble Education. The Company expects to file the Form 10-Q within the extension period of five calendar days, as provided under Rule 12b-25 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)