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Side-by-side financial comparison of IMMERSION CORP (IMMR) and Millrose Properties, Inc. (MRP). Click either name above to swap in a different company.
IMMERSION CORP is the larger business by last-quarter revenue ($372.9M vs $194.9M, roughly 1.9× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 63.0% vs -4.6%, a 67.6% gap on every dollar of revenue. On growth, IMMERSION CORP posted the faster year-over-year revenue change (750.4% vs 135.7%).
Immersion Corporation is an Aventura, Florida based developer and licensor of touch feedback technology, also known as haptic technology. Immersion Corporation has been accused of being a patent troll. Founded in 1993 by Louis Rosenberg, it is currently headed by lawyer Francis Jose, who serves as both chief executive officer and general counsel.
Millrose Properties, Inc. is a U.S.-based real estate enterprise primarily focused on the acquisition, ownership, operation, and management of income-generating multi-family residential assets. Its core markets span the U.S. Mid-Atlantic and Southeast regions, and it also offers professional property management services to select third-party property owners.
IMMR vs MRP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $372.9M | $194.9M |
| Net Profit | $-17.0M | $122.9M |
| Gross Margin | — | — |
| Operating Margin | -2.8% | 85.2% |
| Net Margin | -4.6% | 63.0% |
| Revenue YoY | 750.4% | 135.7% |
| Net Profit YoY | -191.3% | 208.7% |
| EPS (diluted) | $-0.57 | $0.74 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $194.9M | ||
| Q4 25 | — | $189.5M | ||
| Q3 25 | — | $179.3M | ||
| Q2 25 | $372.9M | $149.0M | ||
| Q1 25 | $471.3M | $82.7M | ||
| Q4 24 | $616.2M | — | ||
| Q2 24 | $95.5M | — | ||
| Q1 24 | $43.8M | — |
| Q1 26 | — | $122.9M | ||
| Q4 25 | — | $122.2M | ||
| Q3 25 | — | $105.1M | ||
| Q2 25 | $-17.0M | $112.8M | ||
| Q1 25 | $24.1M | $39.8M | ||
| Q4 24 | $30.8M | — | ||
| Q2 24 | $26.4M | — | ||
| Q1 24 | $18.7M | — |
| Q1 26 | — | 85.2% | ||
| Q4 25 | — | 84.8% | ||
| Q3 25 | — | 85.3% | ||
| Q2 25 | -2.8% | 85.1% | ||
| Q1 25 | 7.5% | 55.2% | ||
| Q4 24 | 11.4% | — | ||
| Q2 24 | 23.7% | — | ||
| Q1 24 | 37.9% | — |
| Q1 26 | — | 63.0% | ||
| Q4 25 | — | 64.5% | ||
| Q3 25 | — | 58.6% | ||
| Q2 25 | -4.6% | 75.7% | ||
| Q1 25 | 5.1% | 48.1% | ||
| Q4 24 | 5.0% | — | ||
| Q2 24 | 27.7% | — | ||
| Q1 24 | 42.5% | — |
| Q1 26 | — | $0.74 | ||
| Q4 25 | — | $0.74 | ||
| Q3 25 | — | $0.63 | ||
| Q2 25 | $-0.57 | $0.68 | ||
| Q1 25 | $0.73 | $0.39 | ||
| Q4 24 | $0.93 | — | ||
| Q2 24 | $0.81 | — | ||
| Q1 24 | $0.59 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $161.4M | — |
| Total DebtLower is stronger | $103.1M | — |
| Stockholders' EquityBook value | $298.1M | $5.9B |
| Total Assets | $1.1B | $9.6B |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $35.0M | ||
| Q3 25 | — | $242.6M | ||
| Q2 25 | $161.4M | $66.6M | ||
| Q1 25 | $153.9M | $89.5M | ||
| Q4 24 | $159.3M | — | ||
| Q2 24 | $133.4M | — | ||
| Q1 24 | $179.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $103.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q1 26 | — | $5.9B | ||
| Q4 25 | — | $5.9B | ||
| Q3 25 | — | $5.9B | ||
| Q2 25 | $298.1M | $5.9B | ||
| Q1 25 | $317.9M | $5.9B | ||
| Q4 24 | $305.5M | — | ||
| Q2 24 | $273.4M | — | ||
| Q1 24 | $201.5M | — |
| Q1 26 | — | $9.6B | ||
| Q4 25 | — | $9.3B | ||
| Q3 25 | — | $9.0B | ||
| Q2 25 | $1.1B | $8.0B | ||
| Q1 25 | $1.4B | $7.2B | ||
| Q4 24 | $1.4B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $244.7M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IMMR
| Course Material Sale | $150.9M | 40% |
| General Merchandise Sale | $138.0M | 37% |
| Rental Services | $51.8M | 14% |
| Services And Other Revenue | $25.6M | 7% |
| Per Unit Royalties | $1.8M | 0% |
MRP
| Option fee revenues | $185.3M | 95% |
| Development loan income | $9.6M | 5% |
