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Side-by-side financial comparison of IMMERSION CORP (IMMR) and Perella Weinberg Partners (PWP). Click either name above to swap in a different company.
IMMERSION CORP is the larger business by last-quarter revenue ($372.9M vs $219.2M, roughly 1.7× Perella Weinberg Partners). Perella Weinberg Partners runs the higher net margin — 6.3% vs -4.6%, a 10.9% gap on every dollar of revenue. On growth, IMMERSION CORP posted the faster year-over-year revenue change (750.4% vs -2.9%). Over the past eight quarters, IMMERSION CORP's revenue compounded faster (537.9% CAGR vs 46.5%).
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.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
IMMR vs PWP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $372.9M | $219.2M |
| Net Profit | $-17.0M | $13.8M |
| Gross Margin | — | — |
| Operating Margin | -2.8% | 8.5% |
| Net Margin | -4.6% | 6.3% |
| Revenue YoY | 750.4% | -2.9% |
| Net Profit YoY | -191.3% | — |
| EPS (diluted) | $-0.57 | $0.11 |
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.
| Q4 25 | — | $219.2M | ||
| Q3 25 | — | $164.6M | ||
| Q2 25 | $372.9M | $155.3M | ||
| Q1 25 | $471.3M | $211.8M | ||
| Q4 24 | $616.2M | $225.7M | ||
| Q3 24 | — | $278.2M | ||
| Q2 24 | $95.5M | $272.0M | ||
| Q1 24 | $43.8M | $102.1M |
| Q4 25 | — | $13.8M | ||
| Q3 25 | — | $6.0M | ||
| Q2 25 | $-17.0M | $2.7M | ||
| Q1 25 | $24.1M | $17.3M | ||
| Q4 24 | $30.8M | — | ||
| Q3 24 | — | $16.4M | ||
| Q2 24 | $26.4M | $-66.0M | ||
| Q1 24 | $18.7M | $-35.8M |
| Q4 25 | — | 8.5% | ||
| Q3 25 | — | 5.4% | ||
| Q2 25 | -2.8% | 5.8% | ||
| Q1 25 | 7.5% | 5.5% | ||
| Q4 24 | 11.4% | — | ||
| Q3 24 | — | 12.9% | ||
| Q2 24 | 23.7% | -30.2% | ||
| Q1 24 | 37.9% | -52.4% |
| Q4 25 | — | 6.3% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | -4.6% | 1.8% | ||
| Q1 25 | 5.1% | 8.2% | ||
| Q4 24 | 5.0% | — | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | 27.7% | -24.3% | ||
| Q1 24 | 42.5% | -35.1% |
| Q4 25 | — | $0.11 | ||
| Q3 25 | — | $0.08 | ||
| Q2 25 | $-0.57 | $0.04 | ||
| Q1 25 | $0.73 | $0.24 | ||
| Q4 24 | $0.93 | — | ||
| Q3 24 | — | $0.24 | ||
| Q2 24 | $0.81 | $-1.21 | ||
| Q1 24 | $0.59 | $-0.91 |
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 | $255.9M |
| Total DebtLower is stronger | $103.1M | — |
| Stockholders' EquityBook value | $298.1M | $-127.4M |
| Total Assets | $1.1B | $797.6M |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $255.9M | ||
| Q3 25 | — | $185.5M | ||
| Q2 25 | $161.4M | $145.0M | ||
| Q1 25 | $153.9M | $111.2M | ||
| Q4 24 | $159.3M | $407.4M | ||
| Q3 24 | — | $335.1M | ||
| Q2 24 | $133.4M | $185.3M | ||
| Q1 24 | $179.1M | $156.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $103.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $-127.4M | ||
| Q3 25 | — | $-302.4M | ||
| Q2 25 | $298.1M | $-318.4M | ||
| Q1 25 | $317.9M | $-323.1M | ||
| Q4 24 | $305.5M | $-421.4M | ||
| Q3 24 | — | $-360.8M | ||
| Q2 24 | $273.4M | $-283.0M | ||
| Q1 24 | $201.5M | $161.9M |
| Q4 25 | — | $797.6M | ||
| Q3 25 | — | $650.2M | ||
| Q2 25 | $1.1B | $606.7M | ||
| Q1 25 | $1.4B | $570.5M | ||
| Q4 24 | $1.4B | $876.8M | ||
| Q3 24 | — | $810.9M | ||
| Q2 24 | $1.2B | $645.5M | ||
| Q1 24 | $244.7M | $583.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $34.8M |
| Free Cash FlowOCF − Capex | — | $30.5M |
| FCF MarginFCF / Revenue | — | 13.9% |
| Capex IntensityCapex / Revenue | — | 2.0% |
| Cash ConversionOCF / Net Profit | — | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $34.8M | ||
| Q3 25 | — | $59.2M | ||
| Q2 25 | — | $56.1M | ||
| Q1 25 | $-43.7M | $-176.5M | ||
| Q4 24 | — | $223.4M | ||
| Q3 24 | — | $200.3M | ||
| Q2 24 | $-85.9M | $90.0M | ||
| Q1 24 | $29.9M | $-206.3M |
| Q4 25 | — | $30.5M | ||
| Q3 25 | — | $57.6M | ||
| Q2 25 | — | $55.3M | ||
| Q1 25 | $-46.2M | $-177.6M | ||
| Q4 24 | — | $207.0M | ||
| Q3 24 | — | $199.3M | ||
| Q2 24 | — | $83.7M | ||
| Q1 24 | — | $-214.8M |
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 35.0% | ||
| Q2 25 | — | 35.6% | ||
| Q1 25 | -9.8% | -83.8% | ||
| Q4 24 | — | 91.7% | ||
| Q3 24 | — | 71.6% | ||
| Q2 24 | — | 30.8% | ||
| Q1 24 | — | -210.3% |
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | 0.5% | 0.5% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 8.3% |
| Q4 25 | — | 2.52× | ||
| Q3 25 | — | 9.85× | ||
| Q2 25 | — | 20.50× | ||
| Q1 25 | -1.82× | -10.18× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 12.23× | ||
| Q2 24 | -3.25× | — | ||
| Q1 24 | 1.60× | — |
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% |
PWP
Segment breakdown not available.
