SEGMENT REPORTING

6 Months Ended

Oct. 31, 2024

SEGMENT REPORTING

SEGMENT REPORTING

3. SEGMENT REPORTING

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

	One Month Ended			Three Months Ended				Six Months Ended
	July 31, 2024			October 31, 2024		June 30, 2023		October 31, 2024		June 30, 2023
Revenues:
Immersion	$	1,900		$	14,127	$	6,983	$	62,552	$	14,057
Barnes & Noble Education		88,043			602,122		—		737,186		—
Total revenues		89,943			616,249		6,983		799,738		14,057
Cost of sales (excludes depreciation and amortization expense):
Barnes & Noble Education		72,871			465,510		—		579,187		—
Operating expenses:
Immersion		1,752			4,165		3,870		17,576		7,685
Barnes & Noble Education		25,835			82,167		—		127,039		—
Total operating expenses		27,587			86,332		3,870		144,615		7,685
Operating income (loss)
Immersion		148			9,962		3,113		44,976		6,372
Barnes & Noble Education		(10,663	)		54,445		—		30,960		—
Operating income (loss)	$	(10,515	)	$	64,407	$	3,113	$	75,936	$	6,372