Imax saw revenue and operating earnings surge last quarter with numbers meeting and exceeding forecasts as the big screen exhibitor posted its best ever $1.28 billion global box office haul in 2025 and anticipates the number will grow to $1.4 billion this year.
The stock popped 4% in after hours trading.
Fourth quarter gross box office increased 62% year-over-year to $336.2 million, setting a new fourth quarter record anchored by Avatar: Fire and Ash. The James Cameron juggernaut released Dec. 19 contributed $112 million in the calendar year box office to become Imax’s top grossing Hollywood title in 2025.
Technology Products and Services saw revenue rise 32% year-over-year to $84.6 million.
For the three months ended in December, revenue rose 35% to $125.2 million. Adjusted ebitda (earnings before interest, taxes, depreciation and amortization) also jumped 53% to $57.1 million.
But net profit sank 64% to $2.4 million on a few hefty one-time charges including $15 million to repurchase outstanding convertible debt and $7 million to restructure and reposition SSIMWAVE, a Canadian streaming tech company Imax acquired in 2022.
Net cash provided by operating activities for 2025 increased 79% year-over-year to $127 million. At year end, available liquidity was $545 million.
CEO Rich Gelfond called 2025 a transformational year for the company that firmly established it as a premier global platform for entertainment and events and “exceeded virtually every target for box office and financial performance for the year.”
“Our slate for 2026 is arguably the strongest we’ve ever seen, with a record of at least 12 Filmed For IMAX releases worldwide; a highly anticipated offering of family films in a time where we’re growing market share with family audiences; and more international blockbusters than ever.” Upcoming Imax-centric tentpoles include Christopher Nolan’s The Odyssey, Denis Villeneuve’s Dune: Part Three, Jon Favreau’s The Mandalorian and Grogu and Greta Gerwig’s Narnia.
The Imax network is expanding globally in under-penetrated markets including Japan, Australia, Germany, and France, he said, boosting its total addressable market to nearly 4,500 zones worldwide, which is double the current number of systems in operation and backlog combined.
“The world’s greatest filmmakers, Hollywood studios, international studios, even streamers are leaning into blockbuster theatrical releases as drivers of IP and value throughout the chain. We look forward to capitalizing on our position to further serve our global audience, drive strong financial results, and deliver positive returns for our shareholders,” he said.
