IMAX IMAX CORP
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Executive Summary
IMAX reported strong full-year 2025 results with record revenue of $410.2 million (up 16% YoY), record operating cash flow of $127 million (up 79% YoY), and a record $1.28 billion in global box office. The company also issued guidance for 2026 calling for $1.4 billion in box office, 160-175 system installations, and Adjusted EBITDA margin in the mid-40s, signaling continued growth momentum.
Key Financial Metrics
Actionable Insight
The strong results and optimistic 2026 guidance suggest continued momentum in IMAX's core business. Traders should monitor box office performance throughout 2026 to validate the $1.4 billion guidance, and watch system installation execution against the 160-175 target range. The expanding margins and strong cash flow position the company well for network expansion.
Key Facts
- Full-year 2025 revenue was $410.2 million, up 16% year-over-year
- Net income was $45.5 million, up 39% YoY, with net income margin expanding to 11.1%
- Adjusted EBITDA was $184.9 million, up 33% YoY, with margin reaching a record 45.1%
- Cash from operating activities was $127 million, up 79% YoY
- 2025 global box office reached $1.28 billion, up 40% YoY
- 2026 guidance includes $1.4 billion in box office, 160-175 system installations, and Adjusted EBITDA margin in the mid-40s
- Company installed 160 systems in 2025, ending the year with a backlog of 434 systems
Financial Impact
Revenue increased by $58 million YoY to $410.2 million, operating cash flow increased by $56.2 million YoY to $127 million
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Content Solutions | $151.3M | +21.0% |
| Technology Products and Services | $251.3M | +16.0% |
Risk Factors
- Execution risk in meeting ambitious 2026 guidance, particularly the $1.4 billion box office target
- Dependence on blockbuster film releases to drive box office performance
- Competition from alternative home entertainment formats
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-011693 |
| Document: imax-20260225.htm | 0001628280-26-011693 |
| Document: 0001628280-26-011693-index-headers.html | 0001628280-26-011693 |
| Document: 0001628280-26-011693-index.html | 0001628280-26-011693 |
| Document: 0001628280-26-011693.txt | 0001628280-26-011693 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Apr 30, 2026
5w ago
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8-K
| $36.51 $40.49 | ▲ +10.90% | ▲ +5.62% | $40.11 (+9.86%) |
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Apr 17, 2026
7w ago
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8-K
| $35.95 $34.25 | ▼ −4.73% | ▼ −8.93% | $40.11 (+11.57%) |
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Mar 10, 2026
13w ago
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Insider Cluster
| $39.71 $38.20 | ▲ +3.80% | ▲ +3.65% | $40.11 (−1.01%) |
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Feb 25, 2026
14w ago
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8-K
| $41.77 $37.75 | ▼ −9.62% | ▼ −3.22% | $40.11 (−3.97%) |
US Market Status
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