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IMAX (IMAX) investor relations material
IMAX Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record Q3 2025 revenue of $106.7 million, up 17% year-over-year, and record global box office of $368 million, up 50% year-over-year, driven by a diversified content slate and strong local language performance, especially in China and Japan.
Net income grew 48% to $22.6 million, with adjusted net income of $26.2 million and adjusted EBITDA margin of 48.6%.
Cash from operations set a new quarterly record at $67.5 million, with available liquidity of $544 million as of September 30, 2025.
System signings surged to 142 year-to-date, surpassing the prior year, and installations are pacing at the high end of 150–160 guidance.
Expanded global network to 1,759 locations across 89 countries, maintaining over 50% share of global premium cinema locations.
Financial highlights
Q3 2025 revenue was $106.7 million (+17% YoY); gross margin increased 32% to $67.3 million (63.1% margin, up 740bps); net income attributable to common shareholders was $20.7 million (+49% YoY); diluted EPS was $0.37; adjusted EPS was $0.47.
Adjusted EBITDA for Q3 2025 was $51.8 million (48.6% margin), up from $38.7 million (42.3%) in Q3 2024.
Free cash flow for the nine months ended September 30, 2025 was $62.9 million, more than double the prior year.
Cash and cash equivalents at September 30, 2025 were $143.1 million; available liquidity was $544 million.
Net debt/TTM Adjusted EBITDA improved to 0.71x as of September 30, 2025.
Outlook and guidance
On track to meet or exceed all full-year guidance, including $1.2 billion in global box office and high-end system installation targets.
Q4 expected to see incremental marketing spend for major tentpole releases, with box office benefits extending into 2026.
Over 14 Filmed for IMAX titles are scheduled for release in 2025, with at least 15 planned for 2026.
The company forecasts sufficient liquidity to fund operations and capital requirements for the next twelve months.
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