Imax Corp
NYSE:IMAX

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Imax Corp
NYSE:IMAX
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Price: 35.71 USD -1.44% Market Closed
Market Cap: 1.9B USD

Imax Corp
Investor Relations

Imax Corporation, a titan in the cinematic realm, has seamlessly blended cutting-edge technology with the visceral allure of the silver screen, setting a benchmark for larger-than-life cinematic experiences. Born out of a desire to transcend traditional movie-going experiences, Imax transformed the industry with its state-of-the-art projection systems and cavernous screens that envelop the viewer, placing them at the heart of the action. The company's business model centers around leasing and licensing its proprietary technology to theatres worldwide, thereby embedding its brand in the global cinematic landscape. This approach creates a symbiotic relationship with cinemas, where the immersive experience provided by Imax's unparalleled image and sound quality draws in moviegoers, driving ticket sales and consequently, revenue for both Imax and its partners.

At its core, Imax generates revenue primarily through box office receipts, wherein it retains a portion of the ticket sales from movies screened in Imax-format theaters. This model is bolstered by monetizing its technologies and trademarks, where theaters pay to install and use Imax systems. Additionally, Imax engages in joint venture arrangements, where it shares operational responsibilities and box office earnings. Beyond traditional theaters, the company has also ventured into new territories such as digital remastering through its proprietary DMR technology, enhancing the visual quality of films to suit its format, thereby enticing blockbusters and high-profile filmmakers to choose Imax for their premieres. Each move it makes, whether in diversified content, international growth, or technological innovation, keeps the company at the forefront of a rapidly evolving entertainment industry, marrying the artistry of filmmaking with the magic of immersive technology.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 23, 2025
AI Summary
Q3 2025

Record Revenue: IMAX reported its highest-ever third quarter revenue at $106.7 million, surpassing previous Q3 results.

Box Office Outperformance: Global box office reached $368 million, up 50% year-over-year, and North American box office grew 29% despite an 11% industry decline.

Margin Expansion: Content Solutions gross margin hit a record 71%, and adjusted EBITDA margin reached 48.6%, both showing substantial year-over-year gains.

Cash Flow Strength: Cash flow from operations set a new quarterly record at $67.5 million, up more than 90% year-over-year.

Installation and Signings Momentum: 142 new and upgraded system signings through September already exceeded the full-year 2024 total, with installations tracking to the high end of guidance (150–160 for the year).

Guidance Confidence: Management reiterated confidence in meeting or exceeding all full-year guidance measures, including the $1.2 billion global box office target.

Strategic Diversification: Performance is increasingly driven by a broad slate—spanning Hollywood, local language, and alternative content—reducing reliance on any single title.

Future Outlook: IMAX highlighted a robust backlog, strong 2026–2027 film slate, and significant opportunities for network growth, with optimism for sustained momentum.

Key Financials
Revenue
$106.7 million
Box Office
$368 million
Cash Flow from Operations
$67.5 million
Adjusted EBITDA
$52 million
Adjusted EBITDA Margin
48.6%
Adjusted EPS
$0.47
Content Solutions Revenue
$45 million
Content Solutions Gross Margin
71%
Technology Products and Services Revenue
$60 million
Technology Products and Services Gross Margin
58%
System Signings (YTD)
142
System Installations (YTD)
approximately 100
Gross Margin
$67 million
Operating Expenditures
$30 million
Cash Balance (Q3 end)
$143 million
Debt (excluding deferred financing costs)
$261 million
Available Liquidity
$544 million
Free Cash Flow before Growth CapEx (YTD)
$87 million
Global Market Share
4.2%
Domestic Market Share
6.1%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Richard Lewis Gelfond J.D.
CEO & Director
No Bio Available
Ms. Natasha Fernandes
Executive VP & CFO
No Bio Available
Mr. Robert Darin Lister
Chief Legal Officer & Senior EVP
No Bio Available
Mr. Mark Welton
President of IMAX Global Theatres
No Bio Available
Mr. Daniel Wade Manwaring
Chief Executive Officer of IMAX China
No Bio Available
Mr. Graeme Ferguson
Co-Founder
No Bio Available
Ms. Heather Anthony
Head of Enterprise Transformation
No Bio Available
Mr. Pablo Calamera
Executive VP & CTO
No Bio Available
Ms. Jennifer Horsley
Senior VP & Head of Investor Relations
No Bio Available
Mr. Mark Jafar
Global Head of Corporate Communications
No Bio Available

Contacts

Address
ONTARIO
Mississauga
2525 Speakman Drive
Contacts
+19054036500.0
www.imax.com