Earnings summaries and quarterly performance for IMAX.
Executive leadership at IMAX.
Richard Gelfond
Detailed
Chief Executive Officer
CEO
AG
Anne Globe
Detailed
Chief Marketing Officer
DM
Daniel Manwaring
Detailed
Chief Executive Officer, IMAX China
GD
Giovanni Dolci
Detailed
Chief Commercial Officer and Executive Vice President
JF
Jonathan Fischer
Detailed
Chief Content Officer and Executive Vice President
JZ
Jose Zlatar
Detailed
Senior Vice President, Finance and Principal Accounting Officer
KW
Kenneth Weissman
Detailed
Deputy General Counsel and Corporate Secretary
MW
Mark Welton
Detailed
President, IMAX Global Theatres
MG
Michele Golden
Detailed
Global Chief People Officer and Executive Vice President
NF
Natasha Fernandes
Detailed
Chief Financial Officer and Executive Vice President
PC
Pablo Calamera
Detailed
Chief Technology Officer and Executive Vice President
RL
Robert Lister
Detailed
Chief Legal Officer and Senior Executive Vice President
Board of directors at IMAX.
Research analysts who have asked questions during IMAX earnings calls.
DK
David Karnovsky
JPMorgan Chase & Co.
4 questions for IMAX
Also covers: CCO, CNK, DIS +17 more
EH
Eric Handler
Roth Capital Partners, LLC
4 questions for IMAX
Also covers: BOWL, CNK, DDI +10 more
CB
Chad Beynon
Macquarie
3 questions for IMAX
Also covers: ACEL, AGS, AMC +30 more
David Joyce
Seaport Research Partners
3 questions for IMAX
Also covers: AMCX, BATRA, EDR +12 more
Michael Hickey
The Benchmark Company, LLC
3 questions for IMAX
Also covers: CNK, EA, GAMB +8 more
OM
Omar Mejias Santiago
Wells Fargo
3 questions for IMAX
Also covers: CNK, UNVGY
Patrick Sholl
Barrington Research
3 questions for IMAX
Also covers: CCO, CMLS, CNK +14 more
Stephen Laszczyk
Goldman Sachs
3 questions for IMAX
Also covers: CNK, FNKO, FWONK +9 more
SF
Steven Frankel
Rosenblatt Securities
3 questions for IMAX
Also covers: DLB, HLIT, LINC +4 more
EW
Eric Wold
B. Riley Securities
2 questions for IMAX
Also covers: AMC, BOWL, CNK +14 more
DS
David Steger
Seaport Research Partners
1 question for IMAX
Drew Crum
B. Riley Securities
1 question for IMAX
Also covers: CNK, HEAR, MCS +1 more
Mike Hickey
The Benchmark Company LLC
1 question for IMAX
Also covers: CNK, EA, GAMB +8 more
OM
Omar Mejias
Wells Fargo
1 question for IMAX
Also covers: CNK
Recent press releases and 8-K filings for IMAX.
IMAX Reports Record Global Box Office for 2025
IMAX
Guidance Update
Revenue Acceleration/Inflection
- IMAX achieved a record $1.28 billion in global box office for 2025, representing a +40% year-over-year growth and exceeding its previous record by +13%.
- The company set new box office records in all three prime geographies: North America ($449 million), China ($407 million), and Rest of World international markets ($427 million) in 2025.
- IMAX expects continued global box office growth in 2026, with guidance set at a record $1.4 billion.
- The company also achieved its biggest global market share ever at 3.8% in 2025.
Jan 7, 2026, 1:30 PM
IMAX Investor Day 2025 Highlights Record Box Office, Strong Growth Outlook, and Strategic Expansion
IMAX
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- IMAX reported a record-breaking year for box office, achieving $1.13 billion as of December 1, 2025, and projecting over $1.25 billion for the full year 2025, with guidance for approximately $1.4 billion in 2026.
- The company is on track for significant network expansion, expecting at least 166 system signings in 2025 (a 16% increase over 2019) and guiding for 160-175 system installations in 2026, supported by a backlog of over 470 systems.
- Local language content is a substantial growth driver, contributing 35%-40% of IMAX's box office in 2025, with strong performance in markets like China (74%), Japan (67%), and South Korea (40%).
- IMAX provided a strong financial outlook, with Adjusted EBITDA margins expected to be at or above 43% for 2025 and 45% for 2026, targeting over 50% by 2028, and Free Cash Flow Conversion projected to reach 50% by 2026.
- The Total Addressable Market (TAM) analysis was revised upwards from 3,600 to 4,500 potential trading zones, indicating significant future growth opportunities, with current global penetration at 39%.
Dec 4, 2025, 5:00 PM
IMAX Reports Record Box Office and Provides Strong 2026 and Long-Term Guidance
IMAX
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- IMAX achieved its highest grossing year in history with global box office exceeding $1.13 billion, tracking to more than $1.25 billion for the full year 2025. Year-to-date September 2025, the company reported 10% revenue growth, 32% adjusted net income growth, 26% adjusted EBITDA growth, and 65% cash from operations growth.
- For 2026, IMAX projects approximately $1.4 billion in box office, 9%-12% IMAX box office growth, and 160-175 system installations. Adjusted EBITDA margin is expected to be at or above 45%.
- The company provided a three-year outlook through 2028, targeting high single-digit to low double-digit cumulative average revenue growth, with Adjusted EBITDA margins reaching over 50% and Adjusted EPS expanding at twice the rate of revenue growth.
- IMAX's total addressable market (TAM) analysis was updated, identifying 4,500 potential venues globally, up from 3,600 in 2023, compared to its current 1,800 locations. The company plans mid-single-digit annual network growth and will increase system-related growth CapEx by 30%-35% annually.
- As of September 30, 2025, IMAX maintained a strong capital structure with $143 million in cash and $261 million in debt, resulting in a net leverage of 0.7 times. The company has returned over $175 million to shareholders since 2020.
Dec 4, 2025, 5:00 PM
IMAX Investor Day 2025 Highlights Record Performance and Future Growth Targets
IMAX
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- IMAX announced a record global box office of over $1.25 billion for 2025 and provided strong 2026 guidance, including approximately $1.4 billion in box office, 160-175 system installations, and Adjusted EBITDA margins at or above 45%.
- The company outlined a three-year financial outlook targeting high single-digit to low double-digit revenue growth, Adjusted EPS expanding at twice the rate of revenue growth, and Adjusted EBITDA margins exceeding 50% by 2028.
- IMAX plans significant network expansion, with a committed backlog of over 470 systems and a revised Total Addressable Market (TAM) of 4,500 potential venues globally, up from its current 1,800 locations.
- The business benefits from an asset-light model and strong capital structure, reporting $143 million in cash and 0.7 times net leverage as of September 30th, 2025.
Dec 4, 2025, 5:00 PM
IMAX Strengthens Capital Structure and Reports Record Q3 Box Office with Strong Future Outlook
IMAX
Debt Issuance
Revenue Acceleration/Inflection
New Projects/Investments
- IMAX solidified its capital structure by issuing $250 million in new convertible notes at a 0.75% coupon, retiring all 2026 converts, and paying $40 million in cash to avoid dilution, raising the conversion premium to $57.
- The company achieved its highest-ever third-quarter gross box office with global box office up 50% year-over-year and domestic up almost 30%, driven by a diversified content strategy including local language films, which now contribute 35%-36% of year-to-date box office.
- IMAX demonstrated significant operating leverage, with a 48% EBITDA margin in Q3 2025 on $368 million of box office, noting that 85% of every box office dollar above $250 million in a quarter flows through to EBITDA and cash.
- The company has a strong outlook with a record year expected in 2025 (already over $1 billion in box office), a robust 2026 slate including over 10 "Filmed For IMAX" titles (e.g., Christopher Nolan's The Odyssey, Star Wars, Dune Part 3), and increased network signings, which are 25% higher than full-year 2023.
Nov 18, 2025, 4:45 PM
IMAX Discusses Convertible Notes, Q3 Performance, and Future Growth Strategy
IMAX
Debt Issuance
Guidance Update
New Projects/Investments
- IMAX recently issued $250 million in new convertible notes at a 0.75% coupon and retired all 2026 converts, paying $40 million in cash to avoid dilution, with the goal of solidifying its capital structure for the next five years.
- The company achieved its highest third quarter ever from a gross box office perspective, reporting a 48% EBITDA margin in Q3 alone and a year-to-date margin of 45%.
- IMAX's strategy of diversifying content, particularly with local language films, has been highly successful, with local language box office exceeding $350 million this year (above the prior record of $240 million in 2023) and accounting for 35%-36% of year-to-date box office.
- The company expects 2026 to be a stronger year than 2025, with over 10 "Filmed For IMAX" titles, which have historically achieved over 15% market share on domestic opening weekends.
- IMAX has seen strong demand for its systems, with 162 signings this year, a 25% increase over full year 2023, including 100 in North America.
Nov 18, 2025, 4:45 PM
IMAX Closes $250 Million Convertible Senior Notes Offering
IMAX
Debt Issuance
Convertible Preferred Issuance
- IMAX Corporation announced the closing of its private offering of $250,000,000 aggregate principal amount of 0.75% convertible senior notes due 2030 on November 6, 2025.
- The notes have an initial conversion price of approximately $42.42 per common share, representing a 30% premium over the last reported sale price on November 3, 2025.
- The net proceeds of approximately $241.1 million were primarily used to repurchase $229.7 million aggregate principal amount of 0.500% Convertible Senior Notes due 2026 for approximately $276.0 million, and to purchase capped call transactions for approximately $21.9 million.
- The capped call cap price is $57.1025, which represents a 75% premium over the last reported sale price on November 3, 2025.
Nov 6, 2025, 10:02 PM
IMAX Prices $220 Million Convertible Senior Notes Offering
IMAX
Debt Issuance
- IMAX Corporation priced a $220 million aggregate principal amount offering of 0.75% convertible senior notes due 2030.
- The initial conversion price for the notes is approximately $42.42 per common share, which represents a 30% premium over the last reported sale price of $32.63 per common share on November 3, 2025.
- IMAX estimates net proceeds from the offering to be approximately $212.0 million, which will primarily be used to repurchase $229.7 million of its existing 2026 convertible notes for approximately $276.0 million.
- The company also purchased capped call transactions, with an initial cap price of $57.1025 per share (a 75% premium), intended to reduce potential share dilution upon conversion of the notes.
Nov 4, 2025, 5:46 AM
IMAX Announces Proposed Convertible Senior Notes Offering
IMAX
Debt Issuance
Convertible Preferred Issuance
Share Buyback
- IMAX Corporation announced its intention to offer $220,000,000 aggregate principal amount of convertible senior notes due November 15, 2030, in a private offering to qualified institutional buyers, with an option for initial purchasers to buy up to an additional $30,000,000 principal amount of notes.
- The company intends to use a portion of the net proceeds for the partial refinancing of outstanding 2026 notes, with remaining proceeds allocated for working capital, share repurchases, or other general corporate purposes.
- IMAX plans to purchase capped call transactions, which are intended to generally reduce potential dilution to its common shares upon conversion of the notes and/or offset potential cash payments, until at least a targeted 75% premium to the last reported sale price of IMAX’s common shares.
Nov 3, 2025, 11:47 AM
IMAX CEO Discusses Record Year Guidance and Strategic Growth Initiatives
IMAX
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- IMAX is guiding to a record year with $1.2 billion in box office revenue. Quarter-to-date, its box office is approximately $270 million, marking a 40% increase from last year, contrasting with a 14% decline for North American exhibitors.
- The company's global programming strategy is a significant driver, with one-third of year-to-date box office generated by foreign language films. Local language content is a growing segment, currently at about one-third of box office and projected to reach 40%.
- IMAX's market share has increased 40% since pre-pandemic, reflecting strong demand for premium experiences. This allows films to achieve over 20% of box office on only 1% of screens.
- The increasing entry of streamers like Apple and Netflix into theatrical releases is increasing demand for IMAX slots. The company has a robust content pipeline, with 11 films already committed for 2026 under its "Filmed For IMAX" program.
- IMAX is approximately 50% penetrated of its total addressable market, with two-thirds of its revenues originating outside North America. The company anticipates most future growth from international markets, with the addressable market expected to double its current size.
Sep 3, 2025, 2:56 PM
Quarterly earnings call transcripts for IMAX.
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