Apple's Taptic Validates Immersion's Haptic Technology
Paolo Gorgo • 12 Comments
Paolo Gorgo • 12 Comments
Thu, Jun. 23, 3:00 PM
Tue, Jun. 21, 3:00 PM
Tue, Jun. 21, 12:48 PM
Tue, May 31, 2:13 PM
- In a report stating Apple (NASDAQ:AAPL) is moving to a 3-year iPhone upgrade cycle, Japan's Nikkei reports 2017 iPhones will be able to "create more complex tactile vibrations on the display because of a tiny, but high-performance motor equipped inside."
- Haptic tech developer Immersion (IMMR +6.8%) appears to be getting a lift from the report. Immersion, which has haptics licensing deals with many Android OEMs, is less than four months removed from suing Apple and AT&T for allegedly infringing its IP.
Thu, Feb. 25, 6:18 PM
- Immersion (NASDAQ:IMMR) is up 15.9% after hours to $8.99 after beating Q4 estimates on the back of an 18% Y/Y increase in royalty/license revenue to $15.8M.
- 2016 sales guidance is at $55M-$65M vs. a $64.3M consensus. However, the outlook doesn't include any revenue that would come from a renewal of Immersion's licensing deal with Samsung, which expired at the end of 2015. Net income guidance (affected by the recently-filed Apple/AT&T suit) is at -$8M to $3M.
- Along with the numbers, Immersion has announced CFO Paul Norris is retiring, effective tomorrow. CEO Vic Viegas will serve as interim CFO until Norris' successor is found.
- Immersion's Q4 results, earnings release
Tue, Jan. 26, 8:45 AM
- Immersion (NASDAQ:IMMR) has struck a deal with Chinese gaming/messaging giant Tencent to "design and develop tactile effects" for Kowloon War, an upcoming Tencent action role-playing mobile game. Immersion's Haptic Gaming SDK (enable tactile effects for Android games) will be leveraged.
- Immersion already has licensing deals with Chinese phone OEMs Huawei, Xiaomi, and Meizu, as well as with Samsung.
- Shares have risen to $8.28 premarket. Q4 results are expected in the coming weeks.
- Last year: Immersion strikes haptics deals for Angry Birds, Ubisoft game
Oct. 29, 2015, 6:20 PM
- With a Q3 beat on the books, Immersion (NASDAQ:IMMR) now expects 2015 revenue of $59M-$61M (+11%-15% Y/Y) vs. prior guidance of $56M-$60M. Consensus was already at $59.8M. Net income guidance is now at $6M-$8M, the high end of a prior $4M-$8M range.
- Royalty/license revenue rose 19% Y/Y in Q3 to $13.9M; development, services, & other revenue rose by $32K to $339K. GAAP costs/expenses rose 26% to $13M. Immersion ended Q3 with $67.2M in cash, and no debt.
- Shares have risen to $11.43 after hours. They fell 4.1% in regular trading ahead of earnings.
- Q3 results, PR
Aug. 20, 2015, 12:09 PM
- With investors fleeing to safety and asking questions later - Chinese macro concerns have been playing a role - tech stocks with high betas (and sometimes also high multiples and big 2014/2015 gains) are among the biggest losers as the S&P drops 1.1%, and the Nasdaq 1.7%.
- Noteworthy decliners include action camera leader GoPro (GPRO -6%), security tech plays Palo Alto Networks (PANW -4.9%), FireEye (FEYE -4.5%), CyberArk (CYBR -5.7%), Qualys (QLYS -5.1%), Imperva (IMPV -6%), and Vasco (VDSI -4.2%), and driver-assistance tech leader Mobileye (MBLY -6%).
- Others include optical networking hardware vendors Ciena (CIEN -5%) and Infinera (INFN -7.3%), optical component vendors NeoPhotnics (NPTN -5.9%) and Oclaro (OCLR -6.7%), data management software firm Varonis (VRNS -5.5%), programmatic ad-buying platform Rocket Fuel (FUEL -7.4%), DNS/IP address hardware vendor Infoblox (BLOX -5.1%), haptic tech developer Immersion (IMMR -6.2%), and solar microinverter maker Enphase (ENPH -7.2%).
- Many Chinese tech stocks are also seeing heavy losses.
Jul. 31, 2015, 12:46 PM
Jul. 30, 2015, 5:13 PM
- With a Q2 beat in tow, Immersion (NASDAQ:IMMR) is narrowing its full-year revenue guidance range to $58M-$60M from $56M-$60M (consensus is at $58.6M). Net income guidance is still at $4M-$8M.
- Financials: Royalty/license revenue rose 37% Y/Y in Q2 to $15.9M; development, services, and other revenue totaled $284K. GAAP costs/expenses rose 20% Y/Y to $14M. Immersion ended Q2 with $71.6M in cash, and no debt. The deferred revenue balance is at $23.5M.
- Immersion has jumped to $12.55 AH.
- Q2 results, PR
Jun. 23, 2015, 9:09 AM
Jun. 12, 2015, 2:24 PM
- B. Riley's Mike Crawford, reiterating a Buy and $13 target on Immersion (NASDAQ:IMMR): "[W]e believe Apple, one of the last remaining handset OEMs not under license, will need a license from IMMR, although FY ’15 guidance and our estimates don’t include potential Apple license revenue."
- He adds CEO Vic Viegas recently stated at a conference Immersion "intends to license Apple," and thinks Apple's value to Immersion would go well beyond license fees/royalties. "[W]e believe the company’s Content & Media division would also benefit if Apple incorporates haptics into its next generation iPhones, as the adoption and enablement of haptics by large mobile content providers (e.g. YouTube and Facebook) would likely accelerate as haptics technology in smartphones approaches ubiquity."
- Apple has already integrated haptic Force Touch sensors into the Apple Watch and multiple MacBooks. The company is also expected to integrate Force Touch within next-gen iPhones.
- Separately, at an event showing off the first commercial version of the Oculus Rift VR headset, Oculus revealed a pair of handheld motion controllers (known as Oculus Touch) that use haptics to provide feedback that matches a user's virtual world actions.
May 1, 2015, 4:49 PM
- Immersion (NASDAQ:IMMR) made fresh 2015 highs today after beating Q1 estimates and reiterating full-year guidance for revenue of $56M-$60M (+6-13% Y/Y, compares with a $58.2M consensus) and net income of $4M-$8M. An upgrade to Buy from Ascendiant Capital helped the company's cause; the upgrade followed a bullish pre-earnings coverage launch from Cowen.
- On the CC (transcript), CFO Paul Norris stated Immersion received 59% of its Q1 revenue from mobility applications, 25% from gaming, 11% from medical, and 5% from auto. Mobility revenue rose 25% Y/Y thanks to higher shipments of licensed hardware and higher ASPs; gaming revenue fell 21% due to lower PlayStation 4-related revenue.
- CEO Vic Vargas argued the Apple Watch's use of haptics is ultimately a positive for Immersion (though Apple isn't currently a licensee). "I can say that it’s having a substantial impact on the Android community and the other OEMs in the marketplace. They are all at various levels of deploying haptic capability." The WSJ reported in March the iPhone 6S will support haptics.
- Q1 results, PR
Apr. 29, 2015, 1:33 PM
- Cowen has launched coverage on Immersion (NASDAQ:IMMR) with an Outperform rating and $15 target ahead of tomorrow afternoon's Q1 report.
- The haptic tech provider has risen to its highest levels since last September; it's still below a 52-week high of $14.72. Shares are up 13% YTD.
- Previously: Immersion strikes haptics deals for Angry Birds, Ubisoft game
Mar. 30, 2015, 3:13 PM
- Today's notable tech gainers include industrial laser maker IPG Photonics (IPGP +4.3%), cloud classroom software provider 2U (TWOU +5.8%), California solar installer Solar3D (SLTD +10.3%), Korean analog/mixed-signal chipmaker MagnaChip (MX +6.8%), privileged account security software vendor CyberArk (CYBR +5.3%), haptic tech provider Immersion (IMMR +4.6%), and solar power optimizer maker/recent IPO SolarEdge (SEDG +4.8%). The Nasdaq is up 1.1%.
- There are relatively few major decliners. The group includes Chinese online video platform Youku (YOKU -4.5%), Chinese solar cell/module maker Yingli (YGE -5.6%), authentication hardware/software provider Vasco (VDSI -3%), and IP licensing firm Marathon Patent Group (MARA -8.8%).
- Solar3D is now up 97% from a March 18 close of $2.57. SolarEdge is up 23% from last week's $18 IPO price. Immersion might be getting a lift from a Barclays report stating Analog Devices will be supplying converter ICs to help enable haptics support on future iPhones/iPads.
- Youku has fallen to fresh 52-week lows, and is now down 18% since posting Q4 results and disclosing an SEC inquiry on March 19. Marathon is down 11% since reporting last Thursday.
- Previously covered: BlackBerry, Altera, Ambarella, OTI, Angie's List, You On Demand, 500.com, Chinese online real estate
Mar. 23, 2015, 9:37 AM
- On a day that a 5-day jury trial between the companies was set to begin, Immersion (IMMR) announces it has settled its patent dispute with HTC and granted the smartphone vendor a Basic Haptics license.
- HTC will "pay an undisclosed amount of compensation for prior shipments of its devices containing Basic Haptics and an additional undisclosed amount of compensation for a license to continue to manufacture and sell devices with Basic Haptics."
- Specific terms are confidential. Immersion says the deal isn't expected to "have a material impact on our financial results for 2015."
- A licensing deal with Meizu was announced in February, and one with Huawei last July. There has been speculation Immersion could pursue a deal with Apple (and if it failed to get one, sue the company), but it tried to downplay near-term expectations during the Q4 CC.
Immersion Corp. is an IP and software licensing company focused on the creation, design, development and licensing of patented haptic innovations and software that allow people to use their sense of touch more fully when operating a wide variety of digital devices. The company focuses on the... More
Industry: Computer Peripherals
Country: United States