So IMMR won $17.3M from Meta...but then paid out even more than that for legal expenses in the quarter?? I'm no lawyer but that sounds like a terrible deal.
Also interesting...despite having over $41M available for share repurchases...they didn't buy back a single share in Q1. Wonder why not?? From the 10Q-
During 2023, we repurchased 1,217,774 shares of our common stock for $8.3 million at average purchase price of $6.77 per share. We did not repurchase any stock during the three months ended March 31, 2024. As of March 31, 2024, we had $41.7 million available for repurchase under the December 2022 Stock Repurchase Program.
I think the stock might pop a little higher tomorrow. $10 seems like a crazy stretch. Wouldn't be surprised if IMMR even finished red since lots of people were expecting that big 1-timer from Meta to boost Q1 earnings.
