IMAX (IMAX) Q3 2026 earnings summary

Executive summary

• Record Q3 revenue of $174.6M, adjusted EBITDA of $120.9M and adjusted EPS of $2.21; global box office reached a record $712.1M.

• The Odyssey generated $538M in IMAX box office and became the highest-grossing release in network history.

• Premium demand and exhibitor interest supported 105 system signings YTD and a 409-system backlog reported through September.

Financial highlights

• Q3 revenue rose 64% YoY to $174.6M; gross profit was $126.3M, up 88%, with a 72.3% gross margin versus 63.1%.

• Adjusted EBITDA increased to $120.9M from $51.8M; adjusted EPS was $2.21 versus $0.47.

• Net income attributable to common shareholders was $113.8M versus $20.7M; diluted EPS was $1.96 versus $0.37.

• 9M revenue rose 26% to $358.8M; adjusted net income was $161.7M and adjusted EPS was $2.84 versus $0.87.

• 9M operating cash flow was $122.1M and free cash flow was $100.3M, versus $97.7M and $62.9M, respectively.

Outlook and guidance

• FY26 global box office is expected to exceed $1.4B; adjusted EBITDA margin guidance rose to ~50% from the mid-40% range.

• FY26 installation guidance remains 160–175 systems; installations were weighted to Q4 and depend on exhibitor schedules.

• 2026–2028 targets include high-single- to low-double-digit revenue CAGR, adjusted EBITDA margin above 50% by 2028, adjusted EPS growth at twice revenue growth, and ~50% free cash flow conversion by 2026.

• The 2027 slate was more than 65% full, with at least 12 Filmed for IMAX releases expected and four IMAX 70mm releases planned.

• 2027 box office guidance is expected early next year after assessing slate, carryover titles and the Chinese New Year schedule.