Companies /Communication Services

Imax Corp

NYSE: IMAX Entertainment
$51.94
▼ $0.82 (−1.55%) today
Markets closed · 7:47am ET

Q1 2025 Earnings

Reported Apr 23, 2025, 4:15pm ET · SEC source
$0.13
Beat +14.44%
EPS · est. $0.11
$86.7M
Beat +2.99%
Revenue · est. $84.2M
+12.5%
Beating market
IMAX vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−3%0+3%+6%Apr 23Apr 24report 4:15pm ETearnings+2.1%−3.1%
−3%0+3%+6%Apr 23Apr 24earnings+2.1%−3.1%
IMAX −3.1%S&P 500 +2.1%
−3%0+3%+6%Apr 23Apr 24report 4:15pm ETearnings+2.8%−3.1%
−3%0+3%+6%Apr 23Apr 24earnings+2.8%−3.1%
IMAX −3.1%NASDAQ +2.8%
−8%−4%0+4%Apr 22May 1report 4:15pm ETearnings+4.0%−2.5%
−8%−4%0+4%Apr 22May 1earnings+4.0%−2.5%
IMAX −2.5%S&P 500 +4.0%
−5%0+5%Apr 22May 1report 4:15pm ETearnings+5.6%−2.5%
−5%0+5%Apr 22May 1earnings+5.6%−2.5%
IMAX −2.5%NASDAQ +5.6%
−3.36%
Day of report
+2.62%
Next session
+3.69%
One week
+20.61%
30 days

S&P 500 over the same 30 days: +8.13%.

Did IMAX Beat Earnings? Q1 2025 Results

IMAX kicked off 2025 with a record-breaking quarter, posting adjusted diluted EPS of $0.13 and revenue of $86.67 million as the company's global network delivered its strongest first-quarter box office in history at $298.00 million, up 12% year-over-year. The single biggest driver was "Ne Zha 2," which became the highest-grossing IMAX release of all time in China at $161.00 million, powering the Technology Products and Services segment to 17% revenue growth and a 23% expansion in gross margin. System demand told an equally striking story, with 95 system signings in the quarter compared to just 8 a year ago, pushing the total backlog to 516 systems across an 1,810-system global network. Net income attributable to common shareholders fell 30% to $2.33 million, largely because IMAX China's blowout Chinese New Year performance routed more earnings to non-controlling interests. With eight consecutive Filmed For IMAX releases lined up for summer 2025, including "Mission: Impossible - The Final Reckoning" and "The Fantastic Four," management believes the company is entering a new era of sustained growth.

Key Takeaways
  • Record Q1 global box office of $298 million, up 12% YoY
  • Ne Zha 2 became highest-grossing IMAX release of all time in China at $161 million
  • Record-breaking Chinese New Year performance offsetting slow Hollywood slate start
  • Higher box-office-related rental revenues in Technology Products and Services
  • Increased sales-type system installations (13 vs 5 YoY)
  • Diversified content portfolio including local language and alternative content
  • Gross margin expansion to 61.4% from 59.3%

“IMAX is off to an excellent start in 2025 — the fundamentals of our business have never been stronger, with record global box office and strong system sales and installations growth in the First Quarter. With a remarkable global slate scheduled over the next several years and surging demand among exhibitors, we believe we are entering a new era of growth for the Company.”

IMAX CEO, on the earnings call

Forward Guidance & Outlook

IMAX management expressed strong confidence in the company's growth trajectory, citing a highly promising Hollywood slate over the next several years and the rapid rise in big-budget, high-production-value local-language blockbusters globally. The company highlighted eight consecutive Filmed For IMAX releases scheduled for summer 2025, including 'Thunderbolts,' 'Mission: Impossible – The Final Reckoning,' 'How to Train Your Dragon,' 'F1,' and 'The Fantastic Four.' CEO Rich Gelfond stated the company believes it is entering 'a new era of growth' driven by surging exhibitor demand and a remarkable global content slate.

IMAX YoY Financials

Revenue$86.7M
Gross Profit$53.2M
Operating Income$16.7M
Net Income$8.2M

IMAX Revenue by Segment

Technology Products and Services$50.6M+17.0%
Content Solutions$34.2M+1.0%
All Other (Streaming and Consumer Technology)

Figures from SEC filings and company reports. Not investment advice.