SEGMENT REPORTING

6 Months Ended

Jun. 30, 2024

SEGMENT REPORTING

SEGMENT REPORTING

3. SEGMENT REPORTING

We operate as two operating and reportable segments, Immersion and Barnes & Noble Education. Summarized financial information for our reportable segments is reported below (in thousands):

		Three Months Ended June 30,					Six Months Ended June 30,
		2024			2023		2024			2023
Revenues:
Immersion	$	52,403		$	6,983	$	96,250		$	14,057
Barnes & Noble Education		47,021			—		47,021			—
Total revenues		99,424			6,983		143,271			14,057
Cost of sales (excludes depreciation and amortization expense):
Barnes & Noble Education		40,806			—		40,806			—
Operating expenses:
Immersion		14,175			3,870		41,408			7,685
Barnes & Noble Education		19,037			—		19,037			—
Total operating expenses		33,212			3,870		60,445			7,685
Operating income (loss)
Immersion		38,228			3,113		54,842			6,372
Barnes & Noble Education		(12,822	)		—		(12,822	)		—
Operating income	$	25,406		$	3,113	$	42,020		$	6,372