10. LEASES

We lease office space, which is accounted for as an operating lease in accordance with the provisions of ASC Topic 842, with expiration dates on or before March 31, 2026. Immersion recognizes lease expense on a straight-line basis over the lease term. Leases with an initial term of twelve months or less are not recorded on the condensed consolidated balance sheets. Immersion combines lease and non-lease components for new and reassessed leases, and applies discount rates to operating leases under a portfolio approach.

	April 30, 2024		March 31, 2023
Weighted average remaining lease terms (in years)	1.92		0.69
Weighted average discount rate	4.7	%	N/A