IMAX shares edge up as company delivers record third quarter results

NEW YORK - On Thursday, IMAX Corporation (NYSE:IMAX) reported third quarter earnings that exceeded analyst expectations, with adjusted earnings per share of $0.47 beating estimates by $0.09 and revenue reaching a record $106.7 million, above the consensus estimate of $104.68 million.

The company’s shares rose 1.65% in pre-market trading following the announcement.

IMAX reported a 17% increase in total revenue compared to the same quarter last year, while net income jumped 48% to $22.6 million. The company achieved a robust net income margin of 21.2% and an adjusted EBITDA margin of 48.6%, up 630 basis points from the previous year.

The strong quarter was driven by IMAX’s global box office performance, which reached $368 million in the third quarter, representing a 50% increase YoY and marking the highest grossing third quarter in the company’s history. While domestic box office declined 11% industry-wide, IMAX’s domestic box office grew 29%.

"IMAX is moving into a new position — building to something bigger — and our performance for the quarter and year to date demonstrate we’re breaking out and delivering at a higher level," said Rich Gelfond, CEO of IMAX. "We continue to deliver results that exceed expectations and transcend the broader marketplace – thanks in large part to our unique, diversified global content portfolio."

The company’s local language box office has already reached $343 million through September, shattering the previous full-year record by more than 40%. System installations are pacing toward the high end of full-year guidance of 150 to 160 systems, while system signings of 142 year-to-date have already surpassed the full-year 2024 total of 130.

IMAX generated $67.5 million in cash from operating activities during the quarter and remains on track to achieve $1.2 billion in global box office for 2025, with several major releases scheduled for the fourth quarter.

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