IMAX二季度收入和调整后EPS超预期，并称《The Odyssey》带动下半年票房动能

IMAX Corporation Reports Second Quarter 2026 Results
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Underscoring the power of its global platform, IMAX exceeds consensus expectations and posts strong year-over-year growth for the second quarter across key metrics:
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Revenue of
$103 million , up 12% year-over-year - Strong operating profitability with Net Income margin of 15.5% and Adjusted EBITDA(3) margin of 46.6%
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Net income per diluted share of
27 cents , up 35% year-over year and record Q2 Adjusted EPS(2,3) of43 cents , up 65% year-over-year -
Year-to-date Cash from Operating Activities of
$36 million , up 19% year-over-year
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Revenue of
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Amidst worldwide fan frenzy for IMAX, the Company delivers 20% of the global box office in record-breaking
$52 million (1) opening weekend of Christopher Nolan’s The Odyssey – the first full-length theatrical release ever shot entirely with IMAX film cameras -
Record-breaking box office holds indicate historic IMAX run ahead for The Odyssey, with the Company achieving its highest grossing Monday and Tuesday ever and approximately
$60 million in presales for future showtimes -
Network growth momentum continues, with highest Q2 installations (38) in a decade, and International excluding
China network expansion of 9% year-over-year -
The Odyssey kicks off a stellar second half 2026 slate culminating with Denis Villeneuve’s Dune: Part Three and including Spider-man: Brand New Day (
China ,Japan andSouth Korea ), Tom Cruise’s Digger, and the IMAX-exclusive theatrical release of Netflix’sCliff Booth project, along with multiple local language blockbusters
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260723454196/en/
“As we enter the second half of 2026, Christopher Nolan’s breathtaking The Odyssey — the first-ever full-length theatrical release filmed entirely with IMAX film cameras — is emerging as a transformational event for IMAX, as the purest and most complete expression yet of the power of our global platform,” said
“The Odyssey has the potential to impact our business in many ways that are clear — and many ways we can’t yet predict, as its success on our platform reverberates across the creative community, and throughout the entertainment landscape. In the near-term, the film gives us excellent momentum as we enter the second half of the year, with a strong slate that culminates with Dune: Part Three, which was also shot with IMAX film cameras and will be presented in IMAX 70mm film.”
“We are very pleased with our strong results for the second quarter — in which we handily beat consensus estimates across key financial metrics — and look forward to building on our momentum to deliver global box office growth, network expansion worldwide, new opportunities for our brand and continued value for our shareholders.”
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(1) |
IMAX global box office for The Odyssey does not include box office in South.Korea, Mainland China and |
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(2) |
Attributable to common shareholders. | |||
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(3) |
Non-GAAP Financial Measure. See the discussion at the end of this earnings release for a description of the non-GAAP financial measures used herein, as well as reconciliations to the most comparable GAAP amounts. |
Second Quarter Financial Highlights
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Three Months Ended (Unaudited) |
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Six Months Ended (Unaudited) |
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In millions of |
2026 |
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2025 |
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YoY %
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2026 |
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2025 |
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YoY %
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Total Revenue |
$ |
102.8 |
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|
$ |
91.7 |
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|
12 |
% |
|
$ |
184.2 |
|
|
$ |
178.4 |
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|
3 |
% |
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Gross Margin |
$ |
62.9 |
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$ |
53.6 |
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|
17 |
% |
|
$ |
108.7 |
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|
$ |
106.8 |
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2 |
% |
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Gross Margin (%) |
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61.2 |
% |
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|
58.5 |
% |
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270bps |
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|
59.0 |
% |
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|
59.9 |
% |
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(90bps) |
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Net Income |
$ |
15.9 |
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$ |
12.2 |
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|
30 |
% |
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$ |
22.0 |
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|
$ |
20.4 |
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|
8 |
% |
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Net Income Margin (%) |
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15.5 |
% |
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|
13.3 |
% |
|
220bps |
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|
11.9 |
% |
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|
11.4 |
% |
|
50bps |
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Net Income Attributable to Common Shareholders |
$ |
15.4 |
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$ |
11.3 |
|
|
36 |
% |
|
$ |
19.6 |
|
|
$ |
13.6 |
|
|
44 |
% |
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Net Income Per Share - Diluted(1) |
$ |
0.27 |
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$ |
0.20 |
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|
35 |
% |
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$ |
0.35 |
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$ |
0.25 |
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40 |
% |
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Total Adjusted EBITDA(2)(3) |
$ |
48.0 |
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$ |
39.1 |
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23 |
% |
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$ |
78.5 |
|
|
$ |
76.0 |
|
|
3 |
% |
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Total Adjusted EBITDA Margin (%)(2)(3) |
|
46.6 |
% |
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|
42.6 |
% |
|
400bps |
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|
42.6 |
% |
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|
42.6 |
% |
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—bps |
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Adjusted Net Income(1)(2) |
$ |
24.2 |
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$ |
14.6 |
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|
66 |
% |
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$ |
33.8 |
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|
$ |
21.8 |
|
|
55 |
% |
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Adjusted Earnings Per Share - Diluted(1)(2) |
$ |
0.43 |
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|
$ |
0.26 |
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|
65 |
% |
|
$ |
0.60 |
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$ |
0.40 |
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|
50 |
% |
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Weighted average shares outstanding (in millions): |
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Basic |
|
55.0 |
|
|
|
53.8 |
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|
2 |
% |
|
|
54.5 |
|
|
|
53.4 |
|
|
2 |
% |
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Diluted |
|
56.6 |
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|
|
55.2 |
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|
3 |
% |
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|
56.5 |
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|
|
55.1 |
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|
3 |
% |
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(1) |
Attributable to common shareholders. | |||
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(2) |
Non-GAAP Financial Measure. See the discussion at the end of this earnings release for a description of the non-GAAP financial measures used herein, as well as reconciliations to the most comparable GAAP amounts. | |||
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(3) |
Total Adjusted EBITDA is before adjustments for non-controlling interests. Total Adjusted EBITDA per Credit Facility attributable to common shareholders, excluding non-controlling interests, was |
Second Quarter Segment Results(1)
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Content Solutions |
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Technology Products and Services |
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Revenue |
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Gross Margin |
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Gross Margin % |
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Revenue |
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Gross Margin |
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Gross Margin % |
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2Q26 |
$ |
34.7 |
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|
$ |
21.9 |
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|
63 |
% |
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$ |
64.8 |
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|
$ |
39.0 |
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|
60 |
% |
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2Q25 |
|
34.0 |
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|
22.4 |
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|
66 |
% |
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|
55.6 |
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|
|
30.2 |
|
|
54 |
% |
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% change |
|
2 |
% |
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(2 |
%) |
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|
16 |
% |
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|
29 |
% |
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YTD26 |
$ |
66.1 |
|
|
$ |
40.2 |
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|
61 |
% |
|
$ |
113.1 |
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|
$ |
65.9 |
|
|
58 |
% |
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YTD25 |
|
68.2 |
|
|
|
46.0 |
|
|
67 |
% |
|
|
106.2 |
|
|
|
59.3 |
|
|
56 |
% |
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% change |
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(3 |
%) |
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|
(13 |
%) |
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|
|
|
7 |
% |
|
|
11 |
% |
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(1) |
Please refer to the Company’s Quarterly Report on Form 10-Q for the period ended |
Content Solutions Segment
-
Second quarter Content Solutions revenues and gross margin increased 2% to
$35 million and decreased 2% to$22 million year-over-year, respectively, reflecting IMAX’s diversified global model delivering a 63% gross margin. -
Second quarter global box office of
$285 million marked IMAX’s highest Q2 box office since 2019 and increased 1% year-over-year driven by strong 24% box office growth in International markets excluding Mainland China. Top grossing second quarter titles included Michael ($69 million ), The Mandalorian & Grogu ($42 million ), and The Super Mario Galaxy Movie ($39 million ).
Technology Products and Services Segment
-
Second quarter Technology Products and Services revenues and gross margin increased 16% to
$65 million and 29% to$39 million year-over-year, respectively, driven by higher systems sales, rental revenues and amendments and renewals of existing agreements. - During the second quarter of 2026, the Company installed 38 systems compared to 36 systems in the second quarter of 2025. Of the 2026 installs, 18 systems were under sales arrangements, compared to 13 in the prior year.
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Commercial network growth continued with the number of IMAX locations reaching 1,809 systems as of
June 30, 2026 compared to 1,750 systems as ofJune 30, 2025 which includes 9% expansion of the IMAX rest of world footprint. The Company ended Q2 2026 with a backlog of 421 IMAX systems.
Operating Cash Flow and Liquidity
Net cash provided by operating activities for first half 2026 increased 19% year-over-ye