Immersion Corporation, the developer of touch feedback technologies, reported a total revenue increase of $26.3m for the third quarter 2016. That’s an increase of 84% compared to $14.3m in Q3 2015. Royalty and licensing revenues of $26m were up 87% during the same period.
Immersion rolled out TouchSense for Mobile Apps earlier this year
According to the company which creates haptic ad experiences for mobile marketers, net income for Q3 2016 was $7m.
Victor Viegas, CEO of Immersion, said that overall the company was satisfied with a strong quarter result and positive momentum. Immersion has plans to expand its customer base across further. He adds:
“The opportunities in front of us continue to increase as haptics is being more broadly adopted than ever, across existing markets as well as new and emerging areas. Immersion’s foundation of innovation and the strength of our patent portfolio makes us uniquely positioned to lead and succeed in this market. As we enter the fourth quarter, we continue to expect 2016 revenues to be in the range of $55 to $65m, which we now anticipate generating bottom line results of a net loss between $11m and $800,000 and between a non-GAAP net loss of $6m and non-GAAP net income of $4m.”
Among the company’s recent business highlights are the announcement of its Haptic Ad Service, which lets marketers add touch effects to their HTML mobile video ads. The company’s cloud-based solution uses the industry VAST and VPAID online video ad standards to enable advertisers to design touch effects for mobile video and serve and sync these with mobile ads in real-time.
Earlier, the company rolled out TouchSense SDK for Mobile Apps, a new haptic solution that unifies the functionality from the TouchSense SDK for Mobile Games and its SDK for Mobile Video into one easy-to-use SDK for Android app developers.
In September 2016, Immersion announced Nancy Erba as CFO. Erba joined from Seagate where she was VP of Finance, Corporate Financial Planning and Analysis.