[x]
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
|
[ ]
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
|
94-3180138
|
(State or other jurisdiction of incorporation or organization)
|
|
(IRS Employer Identification No.)
|
Title of Each Class
|
|
Name of Each Exchange on which Registered
|
Common Stock, $0.001 par value
|
|
The Nasdaq Stock Market LLC
|
Preferred Stock Purchase Rights
|
|
|
Large accelerated filer [ ]
|
|
|
|
Accelerated filer [x]
|
Non-accelerated filer [ ]
|
|
Smaller reporting company [ ]
|
||
|
|
|
|
Emerging Growth Company [ ]
|
Page
|
||
Item 1.
|
||
Item 1A.
|
||
Item 1B.
|
||
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
|
||
Item 5.
|
||
Item 6.
|
||
Item 7.
|
||
Item 7A.
|
||
Item 8.
|
||
Item 9.
|
||
Item 9A.
|
||
Item 9B.
|
||
|
||
Item 10.
|
||
Item 11.
|
||
Item 12.
|
||
Item 13.
|
||
Item 14.
|
||
|
||
Item 15.
|
||
Name
|
Position with the Company
|
Age
|
Ramzi Haidamus
|
Chief Executive Officer
|
54
|
Nancy Erba
|
Chief Financial Officer
|
52
|
Anne Marie Peters
|
General Counsel and Senior Vice President IP Licensing and Legal Affairs
|
48
|
•
|
that prosecution history estoppel precludes Immersion from asserting that the accused products and the technical domestic industry products satisfy certain limitations of the asserted patents under the doctrine of equivalents;
|
•
|
that (1) Respondents do not infringe claims 7 and 17 of the ’356 patent and claims 7, 11 and 15 of the ’051 patent; and (2) the Apple Watch products do not infringe the ’356 patent and Apple’s iPhone 6, 6 Plus and SE products do not infringe the ’051 patent; and
|
•
|
that claims 2-5, 10-12, and 15-17 of the ’507 patent are invalid under 35 U.S.C. § 112 for failing to comply with the written description requirement.
|
|
December 31,
|
||||||||||||||||||||||
|
2013
|
|
2014
|
|
2015
|
|
2016
|
|
2017
|
|
2018
|
||||||||||||
Immersion Corporation
|
$
|
100
|
|
|
$
|
91
|
|
|
$
|
112
|
|
|
$
|
102
|
|
|
$
|
68
|
|
|
$
|
86
|
|
NASDAQ Composite
|
100
|
|
|
115
|
|
|
123
|
|
|
133
|
|
|
172
|
|
|
166
|
|
||||||
RDG Technology Composite
|
100
|
|
|
118
|
|
|
122
|
|
|
138
|
|
|
189
|
|
|
190
|
|
•
|
Performance Obligation A: to transfer rights to our patent portfolio as it exists when the contract is executed;
|
|
2018
|
|
$ Change
|
|
% Change
|
|
2017
|
|
$ Change
|
|
% Change
|
|
2016
|
||||||||||||
|
(dollars in thousands)
|
||||||||||||||||||||||||
Fixed fee license revenue
|
$
|
83,573
|
|
|
$
|
70,998
|
|
|
565
|
%
|
|
$
|
12,575
|
|
|
$
|
(17,814
|
)
|
|
(59
|
)%
|
|
$
|
30,389
|
|
Per-Unit royalty revenue
|
$
|
26,984
|
|
|
$
|
5,470
|
|
|
25
|
%
|
|
$
|
21,514
|
|
|
$
|
(4,127
|
)
|
|
(16
|
)%
|
|
$
|
25,641
|
|
Total royalty and license revenue
|
$
|
110,557
|
|
|
$
|
76,468
|
|
|
224
|
%
|
|
$
|
34,089
|
|
|
$
|
(21,941
|
)
|
|
(39
|
)%
|
|
$
|
56,030
|
|
Development, services, and other
|
422
|
|
|
(502
|
)
|
|
(54
|
)%
|
|
924
|
|
|
(132
|
)
|
|
(13
|
)%
|
|
1,056
|
|
|||||
Total revenues
|
$
|
110,979
|
|
|
$
|
75,966
|
|
|
217
|
%
|
|
$
|
35,013
|
|
|
$
|
(22,073
|
)
|
|
(39
|
)%
|
|
$
|
57,086
|
|
|
|
2018
|
|
2017
|
|
$
Change
|
|
% Change
|
|
Change due to
ASC 606 Adoption
|
|
Other Operational Changes
|
|
Total Change
|
|||||||||||||
|
|
(dollars in thousands)
|
|||||||||||||||||||||||||
Fixed fee license revenue
|
|
$
|
83,573
|
|
|
$
|
12,575
|
|
|
$
|
70,998
|
|
|
565
|
%
|
|
$
|
68,094
|
|
|
$
|
2,904
|
|
|
$
|
70,998
|
|
Per-unit royalty revenue
|
|
26,984
|
|
|
21,514
|
|
|
5,470
|
|
|
25
|
%
|
|
8,482
|
|
|
(3,012
|
)
|
|
5,470
|
|
||||||
Total royalty and license revenue
|
|
110,557
|
|
|
34,089
|
|
|
76,468
|
|
|
224
|
%
|
|
76,576
|
|
|
(108
|
)
|
|
76,468
|
|
||||||
Development, services, and other
|
|
422
|
|
|
924
|
|
|
(502
|
)
|
|
(54
|
)%
|
|
—
|
|
|
(502
|
)
|
|
(502
|
)
|
||||||
Total revenues
|
|
$
|
110,979
|
|
|
$
|
35,013
|
|
|
$
|
75,966
|
|
|
217
|
%
|
|
$
|
76,576
|
|
|
$
|
(610
|
)
|
|
$
|
75,966
|
|
|
2018
|
|
$ Change
|
|
% Change
|
|
2017
|
|
$ Change
|
|
% Change
|
|
2016
|
||||||||||||
|
(dollars in thousands)
|
||||||||||||||||||||||||
Sales and marketing
|
$
|
6,118
|
|
|
$
|
(7,398
|
)
|
|
(55
|
)%
|
|
$
|
13,516
|
|
|
$
|
(1,097
|
)
|
|
(8
|
)%
|
|
$
|
14,613
|
|
Research and development
|
9,727
|
|
|
(2,032
|
)
|
|
(17
|
)%
|
|
11,759
|
|
|
(1,629
|
)
|
|
(12
|
)%
|
|
13,388
|
|
|||||
General and administrative
|
41,815
|
|
|
(11,528
|
)
|
|
(22
|
)%
|
|
53,343
|
|
|
9,192
|
|
|
21
|
%
|
|
44,151
|
|
|||||
Restructuring Costs
|
—
|
|
|
(1,620
|
)
|
|
(100
|
)%
|
|
1,620
|
|
|
1,620
|
|
|
100
|
%
|
|
—
|
|
|
2018
|
|
$ Change
|
|
% Change
|
|
2017
|
|
$ Change
|
|
% Change
|
|
2016
|
||||||||||||
|
(dollars in thousands)
|
||||||||||||||||||||||||
Interest and other income
|
$
|
1,832
|
|
|
$
|
1,495
|
|
|
444
|
%
|
|
$
|
337
|
|
|
$
|
(480
|
)
|
|
(59
|
)%
|
|
$
|
817
|
|
Other income (expense)
|
$
|
(198
|
)
|
|
$
|
(472
|
)
|
|
(172
|
)%
|
|
$
|
274
|
|
|
$
|
337
|
|
|
(535
|
)%
|
|
$
|
(63
|
)
|
|
2018
|
|
$ Change
|
|
% Change
|
|
2017
|
|
$ Change
|
|
% Change
|
|
2016
|
||||||||||||
|
(dollars in thousands)
|
||||||||||||||||||||||||
Provision for income taxes from continuing operations
|
$
|
(392
|
)
|
|
$
|
88
|
|
|
(18
|
)%
|
|
$
|
(480
|
)
|
|
$
|
25,041
|
|
|
(98
|
)%
|
|
$
|
(25,521
|
)
|
Income (loss) from continuing operations before provision for income taxes
|
54,735
|
|
|
|
|
|
|
(44,811
|
)
|
|
|
|
|
|
(14,509
|
)
|
|||||||||
Effective tax rate
|
0.7
|
%
|
|
|
|
|
|
(1.1
|
)%
|
|
|
|
|
|
(175.9
|
)%
|
Contractual Obligations
|
Total
|
|
Less Than
1 Year
|
|
1-3 Years
|
|
3-5 Years
|
|
More Than
5 Years
|
||||||||||
Operating Leases
|
$
|
4,780
|
|
|
$
|
1,168
|
|
|
$
|
3,139
|
|
|
$
|
473
|
|
|
$
|
—
|
|
|
Page
|
|
December 31,
|
||||||
|
2018
|
|
2017
|
||||
ASSETS
|
|||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
110,988
|
|
|
$
|
24,622
|
|
Short-term investments
|
13,930
|
|
|
21,916
|
|
||
Accounts and other receivables
|
1,051
|
|
|
806
|
|
||
Prepaid expenses and other current assets
|
9,856
|
|
|
736
|
|
||
Total current assets
|
135,825
|
|
|
48,080
|
|
||
Property and equipment, net
|
2,343
|
|
|
3,150
|
|
||
Deferred income tax assets
|
295
|
|
|
401
|
|
||
Other assets, net
|
7,532
|
|
|
344
|
|
||
Total assets
|
$
|
145,995
|
|
|
$
|
51,975
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|||||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
3,612
|
|
|
$
|
6,647
|
|
Accrued compensation
|
3,948
|
|
|
4,133
|
|
||
Other current liabilities
|
3,194
|
|
|
3,896
|
|
||
Deferred revenue
|
4,591
|
|
|
4,424
|
|
||
Total current liabilities
|
15,345
|
|
|
19,100
|
|
||
Long-term deferred revenue
|
30,203
|
|
|
22,303
|
|
||
Other long-term liabilities
|
787
|
|
|
915
|
|
||
Total liabilities
|
46,335
|
|
|
42,318
|
|
||
Commitments and contingencies (Notes 14 and 15)
|
|
|
|
||||
Stockholders’ equity:
|
|
|
|
||||
Common stock and additional paid-in capital – $0.001 par value; 100,000,000 shares authorized; 37,652,498 and 35,950,518 shares issued, respectively; 30,829,351 and 29,263,828 shares outstanding, respectively
|
246,415
|
|
|
228,046
|
|
||
Accumulated other comprehensive income
|
116
|
|
|
99
|
|
||
Accumulated deficit
|
(98,521
|
)
|
|
(171,616
|
)
|
||
Treasury stock at cost: 6,823,147 and 6,686,690 shares, respectively
|
(48,350
|
)
|
|
(46,872
|
)
|
||
Total stockholders’ equity
|
99,660
|
|
|
9,657
|
|
||
Total liabilities and stockholders’ equity
|
$
|
145,995
|
|
|
$
|
51,975
|
|
|
Years Ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Revenues:
|
|
|
|
|
|
||||||
Royalty and license
|
$
|
110,557
|
|
|
$
|
34,089
|
|
|
$
|
56,030
|
|
Development, services, and other
|
422
|
|
|
924
|
|
|
1,056
|
|
|||
Total revenues
|
110,979
|
|
|
35,013
|
|
|
57,086
|
|
|||
Costs and expenses:
|
|
|
|
|
|
||||||
Cost of revenues
|
218
|
|
|
197
|
|
|
197
|
|
|||
Sales and marketing
|
6,118
|
|
|
13,516
|
|
|
14,613
|
|
|||
Research and development
|
9,727
|
|
|
11,759
|
|
|
13,388
|
|
|||
General and administrative
|
41,815
|
|
|
53,343
|
|
|
44,151
|
|
|||
Restructuring costs
|
—
|
|
|
1,620
|
|
|
—
|
|
|||
Total costs and expenses
|
57,878
|
|
|
80,435
|
|
|
72,349
|
|
|||
Operating income (loss)
|
53,101
|
|
|
(45,422
|
)
|
|
(15,263
|
)
|
|||
Interest and other income
|
1,832
|
|
|
337
|
|
|
817
|
|
|||
Other income (expense)
|
(198
|
)
|
|
274
|
|
|
(63
|
)
|
|||
Income (loss) from continuing operations before provision for income taxes
|
54,735
|
|
|
(44,811
|
)
|
|
(14,509
|
)
|
|||
Provision for income taxes from continuing operations
|
(392
|
)
|
|
(480
|
)
|
|
(25,521
|
)
|
|||
Income (loss) from continuing operations
|
54,343
|
|
|
(45,291
|
)
|
|
$
|
(40,030
|
)
|
||
Income from discontinued operations, net of tax
|
—
|
|
|
—
|
|
|
649
|
|
|||
Net income (loss)
|
$
|
54,343
|
|
|
$
|
(45,291
|
)
|
|
$
|
(39,381
|
)
|
Basic net income (loss) per share:
|
|
|
|
|
|
||||||
Continuing operations
|
$
|
1.78
|
|
|
$
|
(1.55
|
)
|
|
$
|
(1.39
|
)
|
Discontinued operations
|
—
|
|
|
—
|
|
|
0.02
|
|
|||
Total
|
$
|
1.78
|
|
|
$
|
(1.55
|
)
|
|
$
|
(1.37
|
)
|
Shares used in calculating basic net income (loss) per share
|
30,459
|
|
|
29,179
|
|
|
28,759
|
|
|||
Diluted net income (loss) per share:
|
|
|
|
|
|
||||||
Continuing operations
|
$
|
1.73
|
|
|
$
|
(1.55
|
)
|
|
$
|
(1.39
|
)
|
Discontinued operations
|
—
|
|
|
—
|
|
|
0.02
|
|
|||
Total
|
$
|
1.73
|
|
|
$
|
(1.55
|
)
|
|
$
|
(1.37
|
)
|
Shares used in calculating diluted net income (loss) per share
|
31,407
|
|
|
29,179
|
|
|
28,759
|
|
|||
Other comprehensive income (loss), net of tax
|
|
|
|
|
|
||||||
Change in unrealized gains (losses) on short-term investments
|
17
|
|
|
(16
|
)
|
|
8
|
|
|||
Foreign currency translation adjustments
|
—
|
|
|
—
|
|
|
21
|
|
|||
Total other comprehensive income (loss)
|
17
|
|
|
(16
|
)
|
|
29
|
|
|||
Total comprehensive income (loss)
|
$
|
54,360
|
|
|
$
|
(45,307
|
)
|
|
$
|
(39,352
|
)
|
|
Common Stock and
Additional Paid-In Capital
|
|
Accumulated
Other
Comprehensive
Income (Loss)
|
|
Accumulated
Deficit
|
|
Treasury Stock
|
|
Total
Stockholders’
Equity
|
||||||||||||||||
|
Shares
|
|
Amount
|
|
Shares
|
|
Amount
|
|
|||||||||||||||||
Balances at January 1, 2016
|
34,845,310
|
|
|
$
|
212,115
|
|
|
$
|
86
|
|
|
$
|
(79,948
|
)
|
|
6,515,894
|
|
|
$
|
(45,638
|
)
|
|
$
|
86,615
|
|
Net loss
|
|
|
|
|
|
|
(39,381
|
)
|
|
|
|
|
|
(39,381
|
)
|
||||||||||
Unrealized gain (loss) on available-for-sale securities, net of taxes
|
|
|
|
|
8
|
|
|
|
|
|
|
|
|
8
|
|
||||||||||
Foreign currency translation adjustments
|
|
|
|
|
21
|
|
|
|
|
—
|
|
|
—
|
|
|
21
|
|
||||||||
Repurchase of stock
|
|
|
|
|
|
|
|
|
105,750
|
|
|
(729
|
)
|
|
(729
|
)
|
|||||||||
Issuance of stock for ESPP purchase
|
45,825
|
|
|
307
|
|
|
|
|
|
|
|
|
|
|
307
|
|
|||||||||
Exercise of stock options, net of shares withheld for employee taxes
|
395,515
|
|
|
2,565
|
|
|
|
|
|
|
16,359
|
|
|
(177
|
)
|
|
2,388
|
|
|||||||
Release of restricted stock units and awards, including related stock compensation
|
268,912
|
|
|
2,257
|
|
|
|
|
|
|
|
|
|
|
2,257
|
|
|||||||||
Stock based compensation for stock options
|
|
|
3,854
|
|
|
|
|
|
|
|
|
|
|
3,854
|
|
||||||||||
Balances at December 31, 2016
|
35,555,562
|
|
|
$
|
221,098
|
|
|
$
|
115
|
|
|
$
|
(119,329
|
)
|
|
6,638,003
|
|
|
$
|
(46,544
|
)
|
|
$
|
55,340
|
|
Net loss
|
|
|
|
|
|
|
(45,291
|
)
|
|
|
|
|
|
(45,291
|
)
|
||||||||||
Unrealized gain (loss) on available-for-sale securities, net of taxes
|
|
|
|
|
(16
|
)
|
|
|
|
|
|
|
|
(16
|
)
|
||||||||||
Repurchase of stock
|
|
|
|
|
|
|
|
|
|
|
48,687
|
|
|
(328
|
)
|
|
(328
|
)
|
|||||||
Issuance of stock for ESPP purchase
|
48,750
|
|
|
328
|
|
|
|
|
|
|
|
|
|
|
328
|
|
|||||||||
Exercise of stock options, net of shares withheld for employee taxes
|
70,608
|
|
|
518
|
|
|
|
|
|
|
—
|
|
|
—
|
|
|
518
|
|
|||||||
Release of restricted stock units and awards, including related stock compensation
|
275,598
|
|
|
2,661
|
|
|
|
|
|
|
|
|
|
|
2,661
|
|
|||||||||
Stock based compensation for stock options
|
|
|
3,441
|
|
|
|
|
|
|
|
|
|
|
3,441
|
|
||||||||||
Effect of change in accounting policy (1)
|
|
|
|
|
|
|
(6,996
|
)
|
|
|
|
|
|
(6,996
|
)
|
||||||||||
Balances at December 31, 2017
|
35,950,518
|
|
|
$
|
228,046
|
|
|
$
|
99
|
|
|
$
|
(171,616
|
)
|
|
6,686,690
|
|
|
$
|
(46,872
|
)
|
|
$
|
9,657
|
|
Net income
|
|
|
|
|
|
|
54,343
|
|
|
|
|
|
|
54,343
|
|
||||||||||
Unrealized gain (loss) on available-for-sale securities, net of taxes
|
|
|
|
|
17
|
|
|
|
|
|
|
|
|
17
|
|
||||||||||
Issuance of stock for ESPP purchase
|
26,689
|
|
|
218
|
|
|
|
|
|
|
|
|
|
|
218
|
|
|||||||||
Exercise of stock options, net of shares withheld for employee taxes
|
1,452,306
|
|
|
9,465
|
|
|
|
|
|
|
136,457
|
|
|
(1,478
|
)
|
|
7,987
|
|
|||||||
Release of restricted stock units and awards, including related stock compensation
|
222,985
|
|
|
2,806
|
|
|
|
|
|
|
|
|
|
|
2,806
|
|
|||||||||
Stock based compensation for stock options
|
|
|
5,880
|
|
|
|
|
|
|
|
|
|
|
5,880
|
|
||||||||||
Effect of change in accounting policy (2)
|
|
|
|
|
|
|
18,752
|
|
|
|
|
|
|
18,752
|
|
||||||||||
Balances at December 31, 2018
|
37,652,498
|
|
|
$
|
246,415
|
|
|
$
|
116
|
|
|
$
|
(98,521
|
)
|
|
6,823,147
|
|
|
$
|
(48,350
|
)
|
|
$
|
99,660
|
|
|
Years Ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Cash flows provided by (used in) operating activities:
|
|
|
|
|
|
||||||
Net income (loss)
|
$
|
54,343
|
|
|
$
|
(45,291
|
)
|
|
$
|
(39,381
|
)
|
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization of property and equipment
|
855
|
|
|
968
|
|
|
910
|
|
|||
Stock-based compensation
|
8,686
|
|
|
6,102
|
|
|
6,111
|
|
|||
Deferred income taxes
|
109
|
|
|
(32
|
)
|
|
24,274
|
|
|||
Loss on disposal of equipment
|
26
|
|
|
1
|
|
|
19
|
|
|||
Income from discontinued operations
|
—
|
|
|
—
|
|
|
(649
|
)
|
|||
Changes in operating assets and liabilities:
|
|
|
|
|
|
||||||
Accounts and other receivables
|
(245
|
)
|
|
576
|
|
|
(171
|
)
|
|||
Prepaid income taxes
|
—
|
|
|
—
|
|
|
1,998
|
|
|||
Prepaid expenses and other current assets
|
(4,015
|
)
|
|
141
|
|
|
(86
|
)
|
|||
Other assets
|
(7,188
|
)
|
|
(197
|
)
|
|
(275
|
)
|
|||
Accounts payable
|
(3,035
|
)
|
|
696
|
|
|
5,322
|
|
|||
Accrued compensation and other current liabilities
|
(887
|
)
|
|
(1,111
|
)
|
|
967
|
|
|||
Deferred revenue
|
21,406
|
|
|
(5,575
|
)
|
|
23,090
|
|
|||
Other long-term liabilities
|
(131
|
)
|
|
(107
|
)
|
|
(87
|
)
|
|||
Net cash provided by (used in) operating activities
|
69,924
|
|
|
(43,829
|
)
|
|
22,042
|
|
|||
Cash flows provided by investing activities:
|
|
|
|
|
|
||||||
Purchases of short-term investments
|
(17,693
|
)
|
|
(23,807
|
)
|
|
(32,813
|
)
|
|||
Proceeds from maturities of short-term investments
|
26,004
|
|
|
35,000
|
|
|
40,000
|
|
|||
Purchases of property and equipment
|
(74
|
)
|
|
(125
|
)
|
|
(343
|
)
|
|||
Proceeds from discontinued operations
|
—
|
|
|
—
|
|
|
1,000
|
|
|||
Net cash provided by investing activities
|
8,237
|
|
|
11,068
|
|
|
7,844
|
|
|||
Cash flows provided by financing activities:
|
|
|
|
|
|
||||||
Issuance of common stock under employee stock purchase plan
|
218
|
|
|
328
|
|
|
307
|
|
|||
Exercise of stock options, net of shares withheld for employee taxes
|
7,987
|
|
|
518
|
|
|
2,388
|
|
|||
Purchases of treasury stock
|
—
|
|
|
(328
|
)
|
|
(729
|
)
|
|||
Net cash provided by financing activities
|
8,205
|
|
|
518
|
|
|
1,966
|
|
|||
Net increase (decrease) in cash and cash equivalents
|
86,366
|
|
|
(32,243
|
)
|
|
31,852
|
|
|||
Cash and cash equivalents:
|
|
|
|
|
|
||||||
Beginning of year
|
24,622
|
|
|
56,865
|
|
|
25,013
|
|
|||
End of year
|
$
|
110,988
|
|
|
$
|
24,622
|
|
|
$
|
56,865
|
|
Supplemental disclosure of cash flow information:
|
|
|
|
|
|
||||||
Cash paid for taxes
|
$
|
151
|
|
|
$
|
191
|
|
|
$
|
(419
|
)
|
Supplemental disclosure of noncash operating, investing, and financing activities:
|
|
|
|
|
|
||||||
Amounts accrued for property and equipment
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
22
|
|
Cashless option exercise under company stock plan
|
$
|
1,478
|
|
|
$
|
—
|
|
|
$
|
177
|
|
Release of Restricted Stock Units and Awards under company stock plan
|
$
|
2,806
|
|
|
$
|
2,661
|
|
|
$
|
2,257
|
|
Computer equipment and purchased software
|
3 years
|
Machinery and equipment
|
3-5 years
|
Furniture and fixtures
|
5 years
|
|
Year ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Advertising expense
|
$
|
67
|
|
|
$
|
221
|
|
|
$
|
102
|
|
|
|
Balance at December 31, 2017
as Reported
under ASC 605
|
|
Adjustment
for Fixed Fee License Revenue *
|
|
Elimination of Quarter-Lag
Per-Unit Royalties
|
|
Total Adjustments upon Adoption of ASC 606
|
|
Balance at January 1, 2018
(ASC 606)
|
|||||||||
Prepaid expenses and other current assets
|
|
$
|
736
|
|
|
|
|
$
|
4,996
|
|
|
$
|
4,996
|
|
|
$
|
5,732
|
|
|
Deferred revenue - current
|
|
(4,424
|
)
|
|
1,766
|
|
|
|
|
1,766
|
|
|
(2,658
|
)
|
|||||
Long-term deferred revenue
|
|
(22,303
|
)
|
|
11,573
|
|
|
|
|
11,573
|
|
|
(10,730
|
)
|
|||||
Accumulated deficit
|
|
171,616
|
|
|
(13,339
|
)
|
|
(4,996
|
)
|
|
(18,335
|
)
|
|
153,281
|
|
|
|
Years Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
|
|
(in thousands)
|
||||||||||
Fixed fee license revenue
|
|
$
|
83,573
|
|
|
$
|
12,575
|
|
|
$
|
30,389
|
|
Per-Unit royalty revenue
|
|
26,984
|
|
|
21,514
|
|
|
25,641
|
|
|||
Total royalty and license revenue
|
|
110,557
|
|
|
34,089
|
|
|
56,030
|
|
|||
Development, services, and other
|
|
422
|
|
|
924
|
|
|
1,056
|
|
|||
Total revenues
|
|
$
|
110,979
|
|
|
$
|
35,013
|
|
|
$
|
57,086
|
|
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||||
|
As Reported
(ASC 606) |
|
Adjustments
|
|
ASC 605
|
|
As Reported (ASC 605)
|
|
As Reported (ASC 605)
|
|||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Fixed fee license revenue
|
|
$
|
83,573
|
|
|
$
|
(68,094
|
)
|
|
$
|
15,479
|
|
|
$
|
12,575
|
|
|
$
|
30,389
|
|
Per-unit royalty revenue
|
|
26,984
|
|
|
(8,482
|
)
|
|
18,502
|
|
|
21,514
|
|
|
25,641
|
|
|||||
Total royalty and license revenue
|
|
110,557
|
|
|
(76,576
|
)
|
|
33,981
|
|
|
34,089
|
|
|
56,030
|
|
|||||
Development, services, and other
|
|
422
|
|
|
|
|
422
|
|
|
924
|
|
|
1,056
|
|
||||||
Total revenues
|
|
110,979
|
|
|
(76,576
|
)
|
|
34,403
|
|
|
35,013
|
|
|
57,086
|
|
|||||
Total costs and operating expenses
|
|
57,878
|
|
|
|
|
57,878
|
|
|
80,435
|
|
|
72,349
|
|
||||||
Operating income (loss)
|
|
53,101
|
|
|
(76,576
|
)
|
|
(23,475
|
)
|
|
(45,422
|
)
|
|
(15,263
|
)
|
|||||
Interest and other income
|
|
1,634
|
|
|
—
|
|
|
1,634
|
|
|
611
|
|
|
754
|
|
|||||
Income (loss) before provision for income taxes
|
|
54,735
|
|
|
(76,576
|
)
|
|
(21,841
|
)
|
|
(44,811
|
)
|
|
(14,509
|
)
|
|||||
Provision for income taxes from continuing operations
|
|
(392
|
)
|
|
—
|
|
|
(392
|
)
|
|
(480
|
)
|
|
(25,521
|
)
|
|||||
Income (loss) from continuing operations
|
|
54,343
|
|
|
(76,576
|
)
|
|
(22,233
|
)
|
|
(45,291
|
)
|
|
(40,030
|
)
|
|||||
Income (loss) from discontinued operations, net of tax
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
649
|
|
|||||
Net income (loss)
|
|
$
|
54,343
|
|
|
$
|
(76,576
|
)
|
|
$
|
(22,233
|
)
|
|
$
|
(45,291
|
)
|
|
$
|
(39,381
|
)
|
Basic net income (loss) per share
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Continuing operations
|
|
$
|
1.78
|
|
|
$
|
(2.51
|
)
|
|
$
|
(0.73
|
)
|
|
$
|
(1.55
|
)
|
|
$
|
(1.39
|
)
|
Discontinued operations
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.02
|
|
|||||
Total
|
|
$
|
1.78
|
|
|
$
|
(2.51
|
)
|
|
$
|
(0.73
|
)
|
|
$
|
(1.55
|
)
|
|
$
|
(1.37
|
)
|
Shares used in calculating basic net income (loss) per share
|
|
30,459
|
|
|
30,459
|
|
|
30,459
|
|
|
29,179
|
|
|
28,759
|
|
|||||
Diluted net income (loss) per share
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Continuing operations
|
|
$
|
1.73
|
|
|
$
|
(2.51
|
)
|
|
$
|
(0.73
|
)
|
|
$
|
(1.55
|
)
|
|
$
|
(1.39
|
)
|
Discontinued operations
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.02
|
|
|||||
Total
|
|
$
|
1.73
|
|
|
$
|
(2.51
|
)
|
|
$
|
(0.73
|
)
|
|
$
|
(1.55
|
)
|
|
$
|
(1.37
|
)
|
Shares used in calculating diluted net income (loss) per share
|
|
31,407
|
|
|
30,459
|
|
|
30,459
|
|
|
29,179
|
|
|
28,759
|
|
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||||||||
|
|
As Reported
(ASC 606) |
|
Adjustments
|
|
ASC 605
|
|
As Reported
(ASC 605)
|
||||||||
Prepaid expenses and other current assets
|
|
$
|
9,856
|
|
|
$
|
(8,973
|
)
|
|
$
|
883
|
|
|
$
|
736
|
|
Other assets, net
|
|
7,532
|
|
|
(7,231
|
)
|
|
301
|
|
|
344
|
|
||||
Other current liabilities
|
|
(3,194
|
)
|
|
220
|
|
|
(2,974
|
)
|
|
(3,896
|
)
|
||||
Deferred revenue - current
|
|
(4,591
|
)
|
|
(10,040
|
)
|
|
(14,631
|
)
|
|
(4,424
|
)
|
||||
Long-term deferred revenue
|
|
(30,203
|
)
|
|
(70,126
|
)
|
|
(100,329
|
)
|
|
(22,303
|
)
|
||||
Accumulated deficit
|
|
$
|
98,521
|
|
|
$
|
95,329
|
|
|
$
|
193,850
|
|
|
$
|
171,616
|
|
|
December 31, 2018
|
|
Total
|
||||||||||||
|
Fair value measurements using
|
|
|||||||||||||
|
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
|||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
$
|
—
|
|
|
$
|
13,930
|
|
|
$
|
—
|
|
|
$
|
13,930
|
|
Money market funds
|
81,425
|
|
|
—
|
|
|
—
|
|
|
81,425
|
|
||||
Total assets at fair value
|
$
|
81,425
|
|
|
$
|
13,930
|
|
|
$
|
—
|
|
|
$
|
95,355
|
|
|
December 31, 2017
|
|
Total
|
||||||||||||
|
Fair value measurements using
|
|
|||||||||||||
|
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
|||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
$
|
—
|
|
|
$
|
21,916
|
|
|
$
|
—
|
|
|
$
|
21,916
|
|
Money market funds
|
1,117
|
|
|
—
|
|
|
—
|
|
|
1,117
|
|
||||
Total assets at fair value
|
$
|
1,117
|
|
|
$
|
21,916
|
|
|
$
|
—
|
|
|
$
|
23,033
|
|
|
December 31, 2018
|
||||||||||||||
|
Amortized
Cost
|
|
Gross
Unrealized
Holding
Gains
|
|
Gross
Unrealized
Holding
Losses
|
|
Fair Value
|
||||||||
|
(in thousands)
|
||||||||||||||
U.S. Treasury securities
|
$
|
13,936
|
|
|
$
|
—
|
|
|
$
|
(6
|
)
|
|
$
|
13,930
|
|
Total
|
$
|
13,936
|
|
|
$
|
—
|
|
|
$
|
(6
|
)
|
|
$
|
13,930
|
|
|
December 31, 2017
|
||||||||||||||
|
Amortized
Cost
|
|
Gross
Unrealized
Holding
Gains
|
|
Gross
Unrealized
Holding
Losses
|
|
Fair Value
|
||||||||
|
(in thousands)
|
||||||||||||||
U.S. Treasury securities
|
$
|
21,939
|
|
|
$
|
—
|
|
|
$
|
(23
|
)
|
|
$
|
21,916
|
|
Total
|
$
|
21,939
|
|
|
$
|
—
|
|
|
$
|
(23
|
)
|
|
$
|
21,916
|
|
|
December 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in thousands)
|
||||||
Trade accounts receivable
|
$
|
645
|
|
|
$
|
458
|
|
Receivables from vendors and other
|
406
|
|
|
348
|
|
||
Accounts and other receivables
|
$
|
1,051
|
|
|
$
|
806
|
|
|
December 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in thousands)
|
||||||
Computer equipment and purchased software
|
$
|
3,167
|
|
|
$
|
3,206
|
|
Machinery and equipment
|
821
|
|
|
834
|
|
||
Furniture and fixtures
|
1,113
|
|
|
1,274
|
|
||
Leasehold improvements
|
3,897
|
|
|
3,920
|
|
||
Total
|
8,998
|
|
|
9,234
|
|
||
Less accumulated depreciation
|
(6,655
|
)
|
|
(6,084
|
)
|
||
Property and equipment, net
|
$
|
2,343
|
|
|
$
|
3,150
|
|
|
December 31,
|
||||||
|
2018
|
|
2017
|
||||
|
(in thousands)
|
||||||
Accrued legal
|
$
|
1,827
|
|
|
$
|
2,202
|
|
Income taxes payable
|
204
|
|
|
219
|
|
||
Other current liabilities
|
1,163
|
|
|
1,475
|
|
||
Total other current liabilities
|
$
|
3,194
|
|
|
$
|
3,896
|
|
|
December 31, 2018
|
|
Common stock shares available for grant
|
1,791,088
|
|
Standard and market condition based stock options outstanding
|
2,134,504
|
|
Restricted stock awards outstanding
|
54,667
|
|
Restricted stock units outstanding
|
1,090,752
|
|
|
Year Ended December 31, 2018
|
||
Shares purchased under ESPP
|
26,689
|
|
|
Average price of shares purchased under ESPP
|
$
|
8.17
|
|
Intrinsic value of shares purchased under ESPP
|
$
|
106,000
|
|
|
Number of Shares
|
|
Weighted
Average
Exercise Price
|
|
Weighted
Average
Fair Value
Of Options Granted
|
|
Aggregate
Intrinsic
Value
of Options
Exercised
(in thousands)
|
|||||||
Outstanding at January 1, 2016
|
3,596,533
|
|
|
$
|
8.45
|
|
|
|
|
|
||||
Granted
|
815,794
|
|
|
$
|
7.85
|
|
|
$
|
3.67
|
|
|
|
||
Exercised
|
(395,515
|
)
|
|
$
|
6.48
|
|
|
|
|
$
|
918
|
|
||
Forfeited
|
(344,541
|
)
|
|
$
|
9.05
|
|
|
|
|
|
||||
Expired
|
(251,150
|
)
|
|
$
|
8.87
|
|
|
|
|
|
||||
Outstanding at December 31, 2016
|
3,421,121
|
|
|
$
|
8.44
|
|
|
|
|
|
||||
Granted
|
489,568
|
|
|
$
|
8.48
|
|
|
$
|
3.82
|
|
|
|
||
Exercised
|
(70,608
|
)
|
|
$
|
7.34
|
|
|
|
|
$
|
151
|
|
||
Forfeited
|
(361,687
|
)
|
|
$
|
9.11
|
|
|
|
|
|
||||
Expired
|
(200,403
|
)
|
|
$
|
15.04
|
|
|
|
|
|
||||
Outstanding at December 31, 2017
|
3,277,991
|
|
|
$
|
7.99
|
|
|
|
|
|
||||
Granted
|
207,500
|
|
|
$
|
12.50
|
|
|
$
|
5.82
|
|
|
|
||
Exercised
|
(1,452,306
|
)
|
|
$
|
6.52
|
|
|
|
|
$
|
8,222
|
|
||
Forfeited
|
(78,390
|
)
|
|
$
|
8.31
|
|
|
|
|
|
||||
Expired
|
(92,372
|
)
|
|
$
|
11.93
|
|
|
|
|
|
||||
Outstanding at December 31, 2018
|
1,862,423
|
|
|
$
|
9.44
|
|
|
|
|
|
|
Number of
Shares
|
|
Weighted
Average
Exercise
Price
|
|
Weighted
Average
Remaining
Contractual
Life (years)
|
|
Aggregate
Intrinsic
Value
(in millions)
|
|||||
December 31, 2016
|
|
|
|
|
|
|
|
|||||
Options outstanding
|
3,421,121
|
|
|
$
|
8.44
|
|
|
3.99
|
|
$
|
9.0
|
|
Options vested and expected to vest using estimated forfeiture rates
|
3,223,919
|
|
|
$
|
8.43
|
|
|
3.87
|
|
$
|
8.5
|
|
Options exercisable
|
2,131,268
|
|
|
$
|
8.22
|
|
|
3.10
|
|
$
|
6.4
|
|
December 31, 2017
|
|
|
|
|
|
|
|
|||||
Options outstanding
|
3,277,991
|
|
|
$
|
7.99
|
|
|
2.88
|
|
$
|
2.2
|
|
Options vested and expected to vest using estimated forfeiture rates
|
3,175,002
|
|
|
$
|
7.99
|
|
|
2.78
|
|
$
|
2.2
|
|
Options exercisable
|
2,633,990
|
|
|
$
|
7.94
|
|
|
2.14
|
|
$
|
2.1
|
|
December 31, 2018
|
|
|
|
|
|
|
|
|||||
Options outstanding
|
1,862,423
|
|
|
$
|
9.44
|
|
|
2.85
|
|
$
|
0.8
|
|
Options vested and expected to vest using estimated forfeiture rates
|
1,785,740
|
|
|
$
|
9.40
|
|
|
2.74
|
|
$
|
0.7
|
|
Options exercisable
|
1,396,171
|
|
|
$
|
9.22
|
|
|
1.97
|
|
$
|
0.5
|
|
|
|
Options Outstanding
|
|
Options Exercisable
|
||||||||||||
Range of
Exercise
Prices
|
|
Number
Outstanding
|
|
Weighted
Average
Remaining
Contractual
Life (Years)
|
|
Weighted
Average
Exercise
Price
|
|
Number
Exercisable
|
|
Weighted
Average
Exercise
Price
|
||||||
$5.53 - $7.79
|
|
321,144
|
|
|
4.16
|
|
$
|
7.21
|
|
|
189,149
|
|
|
$
|
7.06
|
|
8.09 - 8.45
|
|
222,175
|
|
|
4.38
|
|
8.29
|
|
|
143,083
|
|
|
8.22
|
|
||
8.64 - 9.00
|
|
259,173
|
|
|
2.45
|
|
8.83
|
|
|
226,776
|
|
|
8.82
|
|
||
9.53 - 9.53
|
|
671,500
|
|
|
0.95
|
|
9.53
|
|
|
671,500
|
|
|
9.53
|
|
||
9.68 - 11.84
|
|
205,573
|
|
|
5.68
|
|
11.66
|
|
|
25,693
|
|
|
10.87
|
|
||
11.94 - 12.20
|
|
100,963
|
|
|
1.51
|
|
11.94
|
|
|
100,963
|
|
|
11.94
|
|
||
12.26 - 12.26
|
|
21,675
|
|
|
3.43
|
|
12.26
|
|
|
21,675
|
|
|
12.26
|
|
||
12.38 - 12.38
|
|
4,320
|
|
|
3.87
|
|
12.38
|
|
|
3,420
|
|
|
12.38
|
|
||
12.48 - 12.48
|
|
15,900
|
|
|
3.54
|
|
12.48
|
|
|
13,912
|
|
|
12.48
|
|
||
15.25 - 15.25
|
|
40,000
|
|
|
6.54
|
|
15.25
|
|
|
—
|
|
|
—
|
|
||
$5.53 - $15.25
|
|
1,862,423
|
|
|
2.85
|
|
$
|
9.44
|
|
|
1,396,171
|
|
|
$
|
9.22
|
|
|
Number
of Shares
|
|
Weighted
Average
Exercise
Price
|
|
Weighted Average Fair Value Of Options Granted
|
|
Aggregate Intrinsic Value of Options Exercised (in thousands)
|
|||||
Outstanding at January 1, 2016
|
200,000
|
|
|
$
|
9.05
|
|
|
|
|
|
||
Granted
|
75,000
|
|
|
$
|
9.00
|
|
|
$
|
3.68
|
|
|
|
Exercised
|
—
|
|
|
|
|
|
|
|
|
|||
Forfeited
|
(50,000
|
)
|
|
$
|
11.94
|
|
|
|
|
|
||
Expired
|
—
|
|
|
|
|
|
|
|
|
|||
Outstanding at December 31, 2016
|
225,000
|
|
|
$
|
8.39
|
|
|
|
|
|
||
Granted
|
120,830
|
|
|
$
|
8.65
|
|
|
$
|
3.12
|
|
|
|
Exercised
|
—
|
|
|
|
|
|
|
|
||||
Forfeited
|
(73,749
|
)
|
|
$
|
8.64
|
|
|
|
|
|
||
Expired
|
—
|
|
|
|
|
|
|
|
||||
Outstanding at December 31, 2017
|
272,081
|
|
|
$
|
8.44
|
|
|
|
|
|
||
Granted
|
—
|
|
|
|
|
|
|
|
|
|
||
Exercised
|
—
|
|
|
|
|
|
|
|
|
|||
Forfeited
|
—
|
|
|
|
|
|
|
|
|
|||
Expired
|
—
|
|
|
|
|
|
|
|
|
|||
Outstanding at December 31, 2018
|
272,081
|
|
|
$
|
8.44
|
|
|
|
|
|
|
Number
of Shares |
|
Weighted
Average Exercise Price |
|
Weighted
Average
Remaining
Contractual Life (years)
|
|
Aggregate
Intrinsic
Value
(in millions)
|
|||||
December 31, 2016
|
|
|
|
|
|
|
|
|||||
Options outstanding
|
225,000
|
|
|
$
|
8.39
|
|
|
5.50
|
|
$
|
0.5
|
|
Options vested and expected to vest using estimated forfeiture rates
|
209,141
|
|
|
$
|
8.38
|
|
|
5.49
|
|
$
|
0.5
|
|
Options exercisable
|
65,625
|
|
|
$
|
8.09
|
|
|
5.17
|
|
$
|
0.2
|
|
December 31, 2017
|
|
|
|
|
|
|
|
|||||
Options outstanding
|
272,081
|
|
|
$
|
8.44
|
|
|
1.91
|
|
$
|
—
|
|
Options vested and expected to vest using estimated forfeiture rates
|
272,081
|
|
|
$
|
8.44
|
|
|
1.91
|
|
$
|
—
|
|
Options exercisable
|
272,081
|
|
|
$
|
8.44
|
|
|
1.91
|
|
$
|
—
|
|
December 31, 2018
|
|
|
|
|
|
|
|
|||||
Options outstanding
|
272,081
|
|
|
$
|
8.44
|
|
|
0.91
|
|
$
|
0.1
|
|
Options vested and expected to vest using estimated forfeiture rates
|
272,081
|
|
|
$
|
8.44
|
|
|
0.91
|
|
$
|
0.1
|
|
Options exercisable
|
272,081
|
|
|
$
|
8.44
|
|
|
0.91
|
|
$
|
0.1
|
|
|
Options Outstanding
|
|
Options Exercisable
|
||||||||||||
Range of
Exercise
Prices
|
Number
Outstanding
|
|
Weighted Average Remaining Contractual Life (Years)
|
|
Weighted
Average
Exercise Price
|
|
Number
Exercisable
|
|
Weighted
Average
Exercise Price
|
||||||
$8.09 - $8.09
|
135,000
|
|
|
0.91
|
|
$
|
8.09
|
|
|
135,000
|
|
|
$
|
8.09
|
|
8.65 - 8.65
|
84,581
|
|
|
0.91
|
|
$
|
8.65
|
|
|
84,581
|
|
|
$
|
8.65
|
|
9.00 - 9.00
|
52,500
|
|
|
0.91
|
|
$
|
9.00
|
|
|
52,500
|
|
|
$
|
9.00
|
|
$8.09 - $9.00
|
272,081
|
|
|
0.91
|
|
$
|
8.44
|
|
|
272,081
|
|
|
$
|
8.44
|
|
|
Number of Shares
|
|
Weighted Average
Grant Date Fair Value
|
|
Fair Value
of Released RSU’s (in thousands)
|
|||||
Outstanding at January 1, 2016
|
487,423
|
|
|
|
|
|
||||
Awarded
|
320,880
|
|
|
$
|
8.67
|
|
|
|
||
Released
|
(247,556
|
)
|
|
|
|
$
|
2,118
|
|
||
Forfeited
|
(133,555
|
)
|
|
|
|
|
||||
Outstanding at December 31, 2016
|
427,192
|
|
|
|
|
|
||||
Awarded
|
483,015
|
|
|
$
|
8.46
|
|
|
|
||
Released
|
(198,058
|
)
|
|
|
|
$
|
1,991
|
|
||
Forfeited
|
(203,269
|
)
|
|
|
|
|
||||
Outstanding at December 31, 2017
|
508,880
|
|
|
|
|
|
||||
Awarded
|
957,443
|
|
|
$
|
11.74
|
|
|
|
||
Released
|
(178,447
|
)
|
|
|
|
$
|
2,133
|
|
||
Forfeited
|
(197,124
|
)
|
|
|
|
|
||||
Outstanding at December 31, 2018
|
1,090,752
|
|
|
|
|
|
|
Number of Shares
|
|
Weighted
Average
Remaining
Contractual Life (years)
|
|
Aggregate
Intrinsic
Value
(in millions)
|
|
Fair Value
(in millions)
|
|||||
December 31, 2016
|
|
|
|
|
|
|
|
|||||
RSUs outstanding
|
427,192
|
|
|
0.93
|
|
$
|
4.5
|
|
|
$
|
4.5
|
|
RSUs vested and expected to vest using estimated forfeiture rates
|
349,759
|
|
|
0.80
|
|
$
|
3.7
|
|
|
|
||
December 31, 2017
|
|
|
|
|
|
|
|
|||||
RSUs outstanding
|
508,880
|
|
|
1.30
|
|
$
|
3.6
|
|
|
$
|
3.6
|
|
RSUs vested and expected to vest using estimated forfeiture rates
|
414,847
|
|
|
1.16
|
|
$
|
2.9
|
|
|
|
||
December 31, 2018
|
|
|
|
|
|
|
|
|||||
RSUs outstanding
|
1,090,752
|
|
|
0.67
|
|
$
|
9.8
|
|
|
$
|
9.8
|
|
RSUs vested and expected to vest using estimated forfeiture rates
|
959,209
|
|
|
0.56
|
|
$
|
8.6
|
|
|
|
|
Number of Shares
|
|
Weighted Average Grant Date
Fair Value
|
|
Total Fair Value of Awards Released
(in thousands)
|
|||||
Outstanding at January 1, 2016
|
21,356
|
|
|
$
|
12.26
|
|
|
|
||
Awarded
|
77,540
|
|
|
$
|
6.52
|
|
|
|
||
Released
|
(21,356
|
)
|
|
$
|
12.26
|
|
|
$
|
139
|
|
Forfeited
|
—
|
|
|
|
|
|
||||
Outstanding at December 31, 2016
|
77,540
|
|
|
$
|
6.52
|
|
|
|
||
Awarded
|
44,538
|
|
|
$
|
8.65
|
|
|
|
||
Released
|
(77,540
|
)
|
|
$
|
6.52
|
|
|
$
|
671
|
|
Forfeited
|
—
|
|
|
|
|
|
||||
Outstanding at December 31, 2017
|
44,538
|
|
|
$
|
8.65
|
|
|
|
||
Awarded
|
62,556
|
|
|
$
|
13.32
|
|
|
|
||
Released
|
(44,538
|
)
|
|
$
|
8.65
|
|
|
$
|
673
|
|
Forfeited
|
(7,889
|
)
|
|
$
|
15.44
|
|
|
|
||
Outstanding at December 31, 2018
|
54,667
|
|
|
$
|
13.02
|
|
|
|
|
Standard Stock Options
|
|||||||
|
2018
|
|
2017
|
|
2016
|
|||
Expected life (in years)
|
4.4
|
|
|
4.6
|
|
|
4.5
|
|
Interest rate
|
3.0
|
%
|
|
2.0
|
%
|
|
1.2
|
%
|
Volatility
|
55
|
%
|
|
52
|
%
|
|
56
|
%
|
Dividend yield
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
Market Condition Based Stock Options
|
||||||
|
2018
(1)
|
|
2017
|
|
2016
|
||
Expected life (in years)
|
N/A
|
|
7.0
|
|
|
7.0
|
|
Interest rate
|
N/A
|
|
2.0
|
%
|
|
1.6
|
%
|
Volatility
|
N/A
|
|
55
|
%
|
|
59
|
%
|
Dividend yield
|
N/A
|
|
—
|
%
|
|
—
|
%
|
|
Employee Stock Purchase Plan
|
|||||||
|
2018
|
|
2017
|
|
2016
|
|||
Expected life (in years)
|
0.5
|
|
|
0.5
|
|
|
0.5
|
|
Interest rate
|
1.9
|
%
|
|
0.9
|
%
|
|
0.4
|
%
|
Volatility
|
58
|
%
|
|
48
|
%
|
|
53
|
%
|
Dividend yield
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
Year Ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Income Statement Classifications
|
(in thousands)
|
||||||||||
Sales and marketing
|
$
|
946
|
|
|
$
|
1,025
|
|
|
$
|
1,280
|
|
Research and development
|
1,948
|
|
|
981
|
|
|
1,297
|
|
|||
General and administrative
|
5,792
|
|
|
4,096
|
|
|
3,534
|
|
|||
Total
|
$
|
8,686
|
|
|
$
|
6,102
|
|
|
$
|
6,111
|
|
|
Year Ended December 31, 2018
|
||||||||||
|
Unrealized Gains
and Losses on
Available-for Sale
Securities
|
|
Foreign
Currency
Items
|
|
Total
|
||||||
|
(in thousands)
|
||||||||||
Beginning balance
|
$
|
(23
|
)
|
|
$
|
122
|
|
|
$
|
99
|
|
Amounts reclassified from accumulated other comprehensive income (loss)
|
17
|
|
|
|
|
|
17
|
|
|||
Ending balance
|
$
|
(6
|
)
|
|
$
|
122
|
|
|
$
|
116
|
|
|
|
Twelve months ended December 31, 2017
|
||||||||||||||
|
|
Employee Separation Costs
|
|
Asset-Related Charges
|
|
Other
|
|
Total
|
||||||||
|
|
(in thousands)
|
||||||||||||||
Restructuring
|
|
$
|
1,515
|
|
|
$
|
22
|
|
|
$
|
82
|
|
|
$
|
1,620
|
|
|
|
Employee
Separation Costs
|
|
Asset-Related Charges
|
|
Other
|
|
Total
|
||||||||
Balance as of December 31, 2017
|
|
$
|
1,522
|
|
|
$
|
—
|
|
|
$
|
57
|
|
|
$
|
1,579
|
|
Adjustments
|
|
(44
|
)
|
|
—
|
|
|
(28
|
)
|
|
(72
|
)
|
||||
Non-cash activity
|
|
(10
|
)
|
|
—
|
|
|
(29
|
)
|
|
(39
|
)
|
||||
Cash payments
|
|
(1,468
|
)
|
|
—
|
|
|
—
|
|
|
(1,468
|
)
|
||||
Balance as of December 31, 2018
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Year Ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Income (loss) from continuing operations before provisions for income taxes
|
$
|
54,735
|
|
|
$
|
(44,811
|
)
|
|
$
|
(14,509
|
)
|
Provision for income taxes from continuing operations
|
(392
|
)
|
|
(480
|
)
|
|
(25,521
|
)
|
|||
Effective tax rate
|
0.7
|
%
|
|
(1.1
|
)%
|
|
(175.9
|
)%
|
|
Year Ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Current:
|
|
|
|
|
|
||||||
U.S. federal
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(1,649
|
)
|
State and local
|
(3
|
)
|
|
(5
|
)
|
|
859
|
|
|||
Foreign
|
(331
|
)
|
|
(448
|
)
|
|
(442
|
)
|
|||
Total current
|
$
|
(334
|
)
|
|
$
|
(453
|
)
|
|
$
|
(1,232
|
)
|
Deferred:
|
|
|
|
|
|
||||||
U.S. federal
|
—
|
|
|
—
|
|
|
(24,261
|
)
|
|||
State and local
|
—
|
|
|
—
|
|
|
—
|
|
|||
Foreign
|
(58
|
)
|
|
(27
|
)
|
|
(28
|
)
|
|||
Total deferred
|
(58
|
)
|
|
(27
|
)
|
|
(24,289
|
)
|
|||
Total provision for income taxes
|
$
|
(392
|
)
|
|
$
|
(480
|
)
|
|
$
|
(25,521
|
)
|
|
December 31,
|
||||||
|
2018
|
|
2017
|
||||
Deferred tax assets:
|
|
||||||
Net operating loss carryforwards
|
$
|
4,968
|
|
|
$
|
13,394
|
|
State income taxes
|
1
|
|
|
1
|
|
||
Deferred revenue
|
2,347
|
|
|
5,349
|
|
||
Research and development and other credits
|
9,590
|
|
|
11,447
|
|
||
Reserves and accruals recognized in different periods
|
3,734
|
|
|
3,088
|
|
||
Basis difference in investment
|
—
|
|
|
583
|
|
||
Capitalized R&D expenses
|
3,415
|
|
|
3,623
|
|
||
Depreciation and amortization
|
472
|
|
|
413
|
|
||
Deferred rent
|
160
|
|
|
183
|
|
||
Other
|
6
|
|
|
—
|
|
||
Total deferred tax assets
|
24,693
|
|
|
38,081
|
|
||
Valuation allowance
|
(24,398
|
)
|
|
(37,680
|
)
|
||
Net deferred tax assets
|
295
|
|
|
401
|
|
||
Foreign credits
|
(29
|
)
|
|
(43
|
)
|
||
Other
|
(17
|
)
|
|
—
|
|
||
Net deferred tax liabilities
|
(46
|
)
|
|
(43
|
)
|
||
Net deferred taxes
|
$
|
249
|
|
|
$
|
358
|
|
|
2018
|
|
2017
|
|
2016
|
|||
Federal statutory tax rate
|
21.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
Sale of IP rights to foreign subsidiary
|
—
|
%
|
|
—
|
%
|
|
(13.8
|
)%
|
Foreign withholding
|
0.1
|
%
|
|
(0.2
|
)%
|
|
(1.2
|
)%
|
Stock compensation expense
|
(1.0
|
)%
|
|
(2.0
|
)%
|
|
(6.6
|
)%
|
Foreign rate differential
|
(1.5
|
)%
|
|
(17.0
|
)%
|
|
(1.2
|
)%
|
Prior year true-up items
|
—
|
%
|
|
(0.1
|
)%
|
|
(0.3
|
)%
|
Tax reserves
|
(1.3
|
)%
|
|
(0.1
|
)%
|
|
1.8
|
%
|
Loss on expiration of capital loss carryover
|
1.1
|
%
|
|
—
|
%
|
|
—
|
%
|
Credits
|
(0.1
|
)%
|
|
0.4
|
%
|
|
1.6
|
%
|
Other
|
0.9
|
%
|
|
—
|
%
|
|
(1.6
|
)%
|
2017 Tax Act impact
|
1.1
|
%
|
|
(28.7
|
)%
|
|
—
|
%
|
Valuation allowance
|
(19.6
|
)%
|
|
11.6
|
%
|
|
(193.4
|
)%
|
State refunds
|
—
|
%
|
|
—
|
%
|
|
3.8
|
%
|
Effective tax rate
|
0.7
|
%
|
|
(1.1
|
)%
|
|
(175.9
|
)%
|
|
2018
|
|
2017
|
|
2016
|
||||||
Balance at beginning of year
|
$
|
4,672
|
|
|
$
|
6,232
|
|
|
$
|
6,285
|
|
Gross increases for tax positions of prior years
|
—
|
|
|
—
|
|
|
—
|
|
|||
Gross decreases for federal tax rate change for tax positions of prior years
|
—
|
|
|
(1,670
|
)
|
|
(22
|
)
|
|||
Gross increases for tax positions of current year
|
45
|
|
|
110
|
|
|
111
|
|
|||
Lapse of statute of limitations
|
(106
|
)
|
|
—
|
|
|
(142
|
)
|
|||
Balance at end of year
|
$
|
4,611
|
|
|
$
|
4,672
|
|
|
$
|
6,232
|
|
|
Years Ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(In thousands, except per share amounts)
|
||||||||||
Numerator:
|
|
|
|
|
|
||||||
Income (loss) from continuing operations
|
$
|
54,343
|
|
|
$
|
(45,291
|
)
|
|
$
|
(40,030
|
)
|
Income from discontinued operations, net of tax
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
649
|
|
Net income (loss) used in computing basic net income (loss) per share
|
$
|
54,343
|
|
|
$
|
(45,291
|
)
|
|
$
|
(39,381
|
)
|
Denominator:
|
|
|
|
|
|
||||||
Shares used in computation of basic net income (loss) per share (weighted average common shares outstanding)
|
30,459
|
|
|
29,179
|
|
|
28,759
|
|
|||
Dilutive potential common shares:
|
|
|
|
|
|
||||||
Stock options, ESPP, Restricted Stock and RSUs
|
948
|
|
|
—
|
|
|
—
|
|
|||
Shares used in computation of diluted net income (loss) per share
|
31,407
|
|
|
29,179
|
|
|
28,759
|
|
|||
|
|
|
|
|
|
||||||
Basic net income (loss) per share:
|
|
|
|
|
|
||||||
Continuing Operations
|
$
|
1.78
|
|
|
$
|
(1.55
|
)
|
|
$
|
(1.39
|
)
|
Discontinued Operations
|
$
|
—
|
|
|
$
|
0.00
|
|
|
$
|
0.02
|
|
Total
|
$
|
1.78
|
|
|
$
|
(1.55
|
)
|
|
$
|
(1.37
|
)
|
|
|
|
|
|
|
||||||
Diluted net income (loss) per share:
|
|
|
|
|
|
||||||
Continuing Operations
|
$
|
1.73
|
|
|
$
|
(1.55
|
)
|
|
$
|
(1.39
|
)
|
Discontinued Operations
|
$
|
—
|
|
|
$
|
0.00
|
|
|
$
|
0.02
|
|
Total
|
$
|
1.73
|
|
|
$
|
(1.55
|
)
|
|
$
|
(1.37
|
)
|
|
Year ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
|
(in thousands)
|
||||||||||
Company contribution to 401 (k) plan
|
$
|
141
|
|
|
$
|
259
|
|
|
$
|
172
|
|
|
Operating Leases
|
||
2019
|
$
|
1,168
|
|
2020
|
1,049
|
|
|
2021
|
1,031
|
|
|
2022
|
1,059
|
|
|
2023
|
450
|
|
|
Thereafter
|
23
|
|
|
Total
|
$
|
4,780
|
|
|
Year ended December 31,
|
||||||||||
|
2018
|
|
2017
|
|
2016
|
||||||
Rent expense
|
$
|
1,181
|
|
|
$
|
1,307
|
|
|
$
|
1,283
|
|
|
Years Ended December 31,
|
|||||||
|
2018
|
|
2017
|
|
2016
|
|||
Mobile, Wearables, and Consumer
|
81
|
%
|
|
48
|
%
|
|
57
|
%
|
Gaming Devices
|
5
|
%
|
|
31
|
%
|
|
24
|
%
|
Automotive
|
13
|
%
|
|
15
|
%
|
|
7
|
%
|
Medical
|
1
|
%
|
|
6
|
%
|
|
12
|
%
|
Total
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
Years Ended December 31,
|
|||||||
|
2018
|
|
2017
|
|
2016
|
|||
North America
|
77
|
%
|
|
22
|
%
|
|
32
|
%
|
Europe
|
11
|
%
|
|
15
|
%
|
|
8
|
%
|
Asia
|
12
|
%
|
|
63
|
%
|
|
60
|
%
|
Total
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
Years Ended December 31,
|
|||||||
|
2018
|
|
2017
|
|
2016
|
|||
United States of America
|
77
|
%
|
|
22
|
%
|
|
26
|
%
|
Japan
|
*
|
|
|
39
|
%
|
|
11
|
%
|
Korea
|
*
|
|
|
18
|
%
|
|
47
|
%
|
Other countries with less than 10% in a year
|
23
|
%
|
|
21
|
%
|
|
16
|
%
|
Total
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
December 31,
|
||||
|
2018
|
|
2017
|
||
United States of America
|
91
|
%
|
|
83
|
%
|
Canada
|
8
|
%
|
|
8
|
%
|
Rest of World
|
1
|
%
|
|
9
|
%
|
Total
|
100
|
%
|
|
100
|
%
|
|
Years Ended December 31,
|
|||||||
|
2018
|
|
2017
|
|
2016
|
|||
Apple Inc.
|
69
|
%
|
|
—
|
%
|
|
—
|
%
|
Samsung Electronics
|
—
|
%
|
|
—
|
%
|
|
33
|
%
|
Customer A
|
—
|
%
|
|
20
|
%
|
|
13
|
%
|
Customer B
|
*
|
|
|
18
|
%
|
|
14
|
%
|
Customer C
|
*
|
|
|
11
|
%
|
|
2
|
%
|
Total
|
69
|
%
|
|
49
|
%
|
|
62
|
%
|
|
Dec 31,
|
|
Sept 30,
|
|
June 30,
|
|
Mar 31,
|
|
Dec 31,
|
|
Sept 30,
|
|
June 30,
|
|
Mar 31,
|
||||||||||||||||
|
2018
|
|
2018
|
|
2018
|
|
2018
|
|
2017
|
|
2017
|
|
2017
|
|
2017
|
||||||||||||||||
|
(In thousands, except per share amounts)
|
||||||||||||||||||||||||||||||
Revenues (1)
|
$
|
10,867
|
|
|
$
|
8,552
|
|
|
$
|
6,144
|
|
|
$
|
85,416
|
|
|
$
|
6,896
|
|
|
$
|
11,863
|
|
|
$
|
7,030
|
|
|
$
|
9,224
|
|
Gross profit
|
10,839
|
|
|
8,491
|
|
|
6,050
|
|
|
85,381
|
|
|
6,857
|
|
|
11,802
|
|
|
6,976
|
|
|
9,181
|
|
||||||||
Operating income (loss)
|
(3,546
|
)
|
|
(5,163
|
)
|
|
(8,295
|
)
|
|
70,105
|
|
|
(12,216
|
)
|
|
(5,443
|
)
|
|
(14,911
|
)
|
|
(12,852
|
)
|
||||||||
Income (loss) before provision for taxes
|
(3,063
|
)
|
|
(4,618
|
)
|
|
(7,920
|
)
|
|
70,336
|
|
|
(12,109
|
)
|
|
(5,243
|
)
|
|
(14,746
|
)
|
|
(12,713
|
)
|
||||||||
Benefit (provision) for income taxes
|
(79
|
)
|
|
(22
|
)
|
|
162
|
|
|
(453
|
)
|
|
(185
|
)
|
|
(44
|
)
|
|
(99
|
)
|
|
(152
|
)
|
||||||||
Net income (loss)
|
(3,142
|
)
|
|
(4,640
|
)
|
|
(7,758
|
)
|
|
69,883
|
|
|
(12,294
|
)
|
|
(5,287
|
)
|
|
(14,845
|
)
|
|
(12,865
|
)
|
||||||||
Basic net income (loss) per share (2)
|
(0.10
|
)
|
|
(0.15
|
)
|
|
(0.25
|
)
|
|
2.35
|
|
|
(0.42
|
)
|
|
(0.18
|
)
|
|
(0.51
|
)
|
|
(0.44
|
)
|
||||||||
Shares used in calculating basic net income (loss) per share
|
30,814
|
|
|
30,780
|
|
|
30,527
|
|
|
29,700
|
|
|
29,250
|
|
|
29,245
|
|
|
29,193
|
|
|
29,024
|
|
||||||||
Diluted net income (loss) per share (2)
|
(0.10
|
)
|
|
(0.15
|
)
|
|
(0.25
|
)
|
|
2.29
|
|
|
(0.42
|
)
|
|
(0.18
|
)
|
|
(0.51
|
)
|
|
(0.44
|
)
|
||||||||
Shares used in calculating diluted net income (loss) per share
|
30,814
|
|
|
30,780
|
|
|
30,527
|
|
|
30,566
|
|
|
29,250
|
|
|
29,245
|
|
|
29,193
|
|
|
29,024
|
|
1
|
Financial Statements
|
|
Page
|
2
|
Financial Statement Schedules
|
3
|
Exhibits:
|
Exhibit
Number
|
|
Exhibit Description
|
|
Incorporated by Reference
|
|
Filed
Herewith
|
||||||
Form
|
|
File No.
|
|
Exhibit
|
|
Filing Date
|
|
|||||
|
|
8-K
|
|
000-27969
|
|
3.1
|
|
November 4, 2016
|
|
|
||
|
|
8-K
|
|
000-27969
|
|
3.1
|
|
June 2, 2017
|
|
|
||
|
|
8-K
|
|
000-27969
|
|
3.1
|
|
July 29, 2003
|
|
|
||
|
|
8-K
|
|
000-27969
|
|
3.1
|
|
December 27, 2017
|
|
|
||
|
|
8-K
|
|
000-27969
|
|
4.1
|
|
December 27, 2017
|
|
|
||
10.1*
|
|
1999 Employee Stock Purchase Plan and form of subscription agreement thereunder.
|
|
S-1/A
|
|
333-86361
|
|
10.21
|
|
October 5, 1999
|
|
|
|
|
S-3
|
|
333-108607
|
|
10.3
|
|
September 8, 2003
|
|
|
||
|
|
S-3/A
|
|
333-108607
|
|
10.4
|
|
February 13, 2004
|
|
|
||
|
|
S-3/A
|
|
333-108607
|
|
10.10
|
|
March 25, 2004
|
|
|
||
|
|
S-3/A
|
|
333-108607
|
|
10.11
|
|
March 25, 2004
|
|
|
||
|
|
10-Q
|
|
000-27969
|
|
10.37
|
|
May 10, 2007
|
|
|
||
|
|
8-K
|
|
000-27969
|
|
99.1
|
|
June 12, 2007
|
|
|
||
|
|
8-K
|
|
000-27969
|
|
99.4
|
|
June 12, 2007
|
|
|
||
|
|
8-K
|
|
000-27969
|
|
99.5
|
|
June 12, 2007
|
|
|
||
|
|
10-Q
|
|
000-27969
|
|
10.45
|
|
November 7, 2008
|
|
|
||
|
|
10-K
|
|
000-27969
|
|
10.42
|
|
March 30, 2010
|
|
|
Exhibit
Number
|
|
Exhibit Description
|
|
Incorporated by Reference
|
|
Filed
Herewith
|
||||||
Form
|
|
File No.
|
|
Exhibit
|
|
Filing Date
|
|
|||||
10.12*
|
|
Form of 2018 Executive Incentive Plan.
|
|
10-Q
|
|
000-27969
|
|
|
|
May 7, 2010
|
|
|
|
|
8-K
|
|
000-27969
|
|
10.1
|
|
June 7, 2017
|
|
|
||
|
|
10-Q
|
|
000-27969
|
|
10.2
|
|
August 5, 2011
|
|
|
||
|
|
10-Q
|
|
000-27969
|
|
10.3
|
|
August 5, 2011
|
|
|
||
|
|
10-Q
|
|
000-27969
|
|
10.4
|
|
August 5, 2011
|
|
|
||
10.17
|
|
Office Lease between Carr NP Properties, L.L.C., and Immersion Corporation dated September 15, 2011.
|
|
10-Q
|
|
000-27969
|
|
10.2
|
|
November 7, 2011
|
|
|
|
|
10-Q
|
|
000-27969
|
|
10.1
|
|
November 6, 2013
|
|
|
||
|
|
10-Q
|
|
000-27969
|
|
10.1
|
|
May 6, 2014
|
|
|
||
10.20*
|
|
2011 Equity Incentive Plan (incorporated by reference to Annex A of Schedule 14A, File No. 000-27969, filed on April 22, 2014).
|
|
10-Q
|
|
000-27969
|
|
10.1
|
|
August 1, 2014
|
|
|
|
|
10-Q
|
|
000-27969
|
|
10.1
|
|
October 31, 2014
|
|
|
||
|
|
8-K
|
|
000-27969
|
|
10.1
|
|
November 14, 2014
|
|
|
||
|
|
10-K
|
|
000-27969
|
|
10.34
|
|
February 27, 2015
|
|
|
||
|
|
8-K
|
|
000-27969
|
|
10.1
|
|
September 7, 2016
|
|
|
Exhibit
Number
|
|
Exhibit Description
|
|
Incorporated by Reference
|
|
Filed
Herewith
|
||||||
Form
|
|
File No.
|
|
Exhibit
|
|
Filing Date
|
|
|||||
|
|
8-K
|
|
000-27969
|
|
10.2
|
|
September 7, 2016
|
|
|
||
|
|
10-Q
|
|
000-27969
|
|
10.1
|
|
November 4, 2016
|
|
|
||
|
|
8-K
|
|
000-27969
|
|
10.1
|
|
December 12, 2017
|
|
|
||
|
|
8-K/A
|
|
000-27969
|
|
10.2
|
|
January 3, 2018
|
|
|
||
|
|
8-K/A
|
|
000-27969
|
|
10.1
|
|
January 3, 2018
|
|
|
||
|
|
8-K
|
|
000-27969
|
|
10.1
|
|
February 7, 2017
|
|
|
||
|
|
10-Q/A
|
|
01-38334
|
|
10.2
|
|
July 31, 2018
|
|
|
||
|
|
8-K
|
|
01-38334
|
|
10.1
|
|
May 11, 2018
|
|
|
||
|
|
10-Q
|
|
01-38334
|
|
10.4
|
|
May 11, 2018
|
|
|
||
|
|
10-Q
|
|
01-38334
|
|
10.6
|
|
May 11, 2018
|
|
|
||
|
|
8-K
|
|
01-38334
|
|
99.1
|
|
August 22, 2018
|
|
|
||
|
|
8-K
|
|
01-38334
|
|
10.1
|
|
October 30, 2018
|
|
|
||
|
|
8-K
|
|
01-38334
|
|
10.1
|
|
January 7, 2019
|
|
|
Exhibit
Number
|
|
Exhibit Description
|
|
Incorporated by Reference
|
|
Filed
Herewith
|
||||||
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
X
|
||
|
|
|
|
|
|
|
|
|
|
X
|
||
|
|
|
|
|
|
|
|
|
|
X
|
||
|
|
|
|
|
|
|
|
|
|
X
|
||
|
|
|
|
|
|
|
|
|
|
X
|
||
|
|
|
|
|
|
|
|
|
|
X
|
||
101.INS
|
|
XBRL Report Instance Document
|
|
|
|
|
|
|
|
|
|
X
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
|
|
|
|
|
|
X
|
101.CAL
|
|
XBRL Taxonomy Calculation Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
101.LAB
|
|
XBRL Taxonomy Label Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
101.PRE
|
|
XBRL Presentation Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
#
|
Confidential treatment has been granted for portions of this exhibit by the SEC.
|
*
|
Constitutes a management contract or compensatory plan.
|
+
|
This certification is deemed not filed for purposes of section 18 of the Exchange Act, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act, as amended, or the Exchange Act, as amended.
|
|
|
|
|
|
IMMERSION CORPORATION
|
|
|
||
|
|
|
|
|
By
|
|
/
S
/ NANCY ERBA
|
|
|
|
|
Nancy Erba
|
|
|
|
|
Chief Financial Officer and
Principal Accounting Officer
|
|
|
Name
|
|
Title
|
|
Date
|
|
|
|
|
|
/s/ RAMZI HAIDAMUS
|
|
Chief Executive Officer and Director (Principal Executive Officer)
|
|
February 27, 2019
|
Ramzi Haidamus
|
|
|
|
|
|
|
|
|
|
/
S
/ NANCY ERBA
|
|
Chief Financial Officer
(Principal Financial Officer and
Principal Accounting Officer)
|
|
February 27, 2019
|
Nancy Erba
|
|
|
|
|
|
|
|
|
|
/
S
/ SHARON HOLT
|
|
Chairman of the Board and Director
|
|
February 27, 2019
|
Sharon Holt
|
|
|
|
|
|
|
|
|
|
/
S
/ TOM LACEY
|
|
Director
|
|
February 27, 2019
|
Tom Lacey
|
|
|
|
|
|
|
|
|
|
/
S
/ DAVID SUGISHITA
|
|
Director
|
|
February 27, 2019
|
David Sugishita
|
|
|
|
|
|
|
|
|
|
/
S
/ KENNETH TRAUB
|
|
Director
|
|
February 27, 2019
|
Kenneth Traub
|
|
|
|
|
|
|
|
|
|
/
S
/ JOHN VESCHI
|
|
Director
|
|
February 27, 2019
|
John Veschi
|
|
|
|
|
|
|
Balance at
Beginning
of Period
|
|
Charged to
Costs and
Expenses
|
|
Deductions/
Write-offs
(Recoveries)
|
|
Balance at
End of
Period
|
||||||||
|
|
(In thousands)
|
||||||||||||||
Year ended December 31, 2018
|
|
|
|
|
|
|
|
|
||||||||
Allowance for doubtful accounts
|
|
$
|
—
|
|
|
|
|
|
|
|
|
$
|
—
|
|
||
Year ended December 31, 2017
|
|
|
|
|
|
|
|
|
||||||||
Allowance for doubtful accounts
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Year ended December 31, 2016
|
|
|
|
|
|
|
|
|
||||||||
Allowance for doubtful accounts
|
|
$
|
15
|
|
|
$
|
2
|
|
|
$
|
17
|
|
|
$
|
—
|
|
|
|
|
Name
|
|
Jurisdiction of Incorporation
|
3285118 N.S. Inc.
|
|
Nova Scotia, Canada
|
Immersion Canada Corporation
|
|
Nova Scotia, Canada
|
Immersion Medical, Inc.
|
|
Maryland, USA
|
Immersion International, LLC
|
|
Delaware, USA
|
Haptify, Inc.
|
|
Delaware, USA
|
Immersion Software Ireland Limited
|
|
Ireland
|
Immersion Technology International Limited
|
|
Ireland
|
Immersion Japan, K.K.
|
|
Japan
|
Immersion Limited
|
|
Hong Kong
|
Immersion (Shanghai) Science & Technology Co., Ltd.
|
|
Shanghai, China
|
/s/ RAMZI HAIDAMUS
|
|
Ramzi Haidamus
|
|
Chief Executive Officer
|
|
/s/ NANCY ERBA
|
|
Nancy Erba
|
|
Chief Financial Officer
|
|
/s/ RAMZI HAIDAMUS
|
|
Ramzi Haidamus
|
|
Chief Executive Officer
|
|
/s/ NANCY ERBA
|
|
Nancy Erba
|
|
Chief Financial Officer
|
|