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NEW YORK - IMAX Corporation (NYSE:IMAX), the $1.3 billion entertainment technology company with a healthy financial profile according to InvestingPro data, and Apple Cinemas announced an agreement Tuesday for five IMAX with Laser systems across the United States, doubling their current partnership footprint.
The deal will bring IMAX back to Philadelphia for the first time since 2020 at the forthcoming Riverview Plaza multiplex, scheduled to open in 2026. The renovated venue will become the largest cinema in Philadelphia’s Center City downtown area.
The agreement includes one additional new IMAX system at a location yet to be determined, plus IMAX with Laser upgrades to three existing locations in Maine, New Hampshire, and California. The San Francisco location, which reopened under Apple Cinemas earlier this year, will be among those receiving upgrades. All three upgrade projects are set for completion before the end of 2027.
"IMAX’s strong performance at the box office continues to drive demand and create opportunity with exhibitors in North America," said Rich Gelfond, CEO of IMAX.
The expansion builds on the companies’ existing relationship, which began with three locations across the U.S. at the start of 2025. With this new agreement, they will soon operate six IMAX theaters across six different states.
All new and upgraded locations will feature IMAX with Laser technology, which offers 4K laser projection, enhanced optical systems, and custom-designed lenses for improved image quality and precision audio.
The announcement comes during what IMAX describes as a banner year, having already signed deals for 130 new or upgraded systems so far in 2025, matching their total for all of 2024. The company reports signing agreements with nine new domestic exhibitor partners over the past two years. With revenue of $362.5 million in the last twelve months and a strong current ratio of 3.83, InvestingPro analysis shows IMAX maintains robust financial health, supporting its aggressive expansion strategy. InvestingPro subscribers have access to over 10 additional key insights about IMAX’s growth potential.
According to the press release statement, IMAX currently operates 1,821 systems globally across 89 countries and territories as of June 30, 2025. The company’s stock, which InvestingPro analysis indicates is currently in oversold territory, has demonstrated strong operational efficiency with a gross profit margin of 58% in the last twelve months. Discover comprehensive insights about IMAX and 1,400+ other stocks through InvestingPro’s detailed research reports.
In other recent news, IMAX Corporation has reported several notable developments. The company expanded its credit facility to $375 million, with an option to increase it to $515 million, in collaboration with a syndicate of seven lenders, including Wells Fargo Securities, LLC. Additionally, IMAX and HOYTS Cinemas announced a plan to install up to five new IMAX with Laser systems across Australia, marking a renewed partnership since 2019. The first of these theaters is set to open in Melbourne in 2025.
In another significant update, Warner Bros./DC Studios’ "Superman" achieved a global IMAX debut of $30.4 million, with $19.1 million from North America and $11.3 million internationally. This performance marked the highest IMAX market share for a film opening above $100 million domestically. Furthermore, Benchmark has reiterated its Buy rating for IMAX, maintaining a $30 price target amid potential premium format competition. The firm considers the Q2 box office performance of $278 million a positive indicator, leading to slight adjustments in expected system installations.
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