Imax Corp - IMAX STOCK NEWS

IMAX Corporation reported robust financial growth for Q1 2022, with total gross box office revenue of $173.2 million, a 57% increase year-over-year. The company captured a record 4.7% share of the domestic box office. Total revenue rose to $60.0 million from $38.8 million, while gross margin surged to $31.8 million. Adjusted EBITDA reached $14.8 million, a 429% increase. However, a net non-cash provision of $6.9 million was recorded due to uncertainty in Russia, contributing to an adjusted net loss of $8.2 million.

IMAX Corporation announced an expansion of its partnership with AEON Entertainment to install two new IMAX with Laser systems in suburban Tokyo and Osaka. This agreement aims to strengthen IMAX's growing presence in Japan, where it has increased its screen count from 13 to 39 in the last decade. Japan generated over $46 million in revenue for IMAX in 2021, ranking as its third highest market. The new systems, featuring advanced 4K laser projection technology, are part of IMAX's strategy to capitalize on local film successes, particularly Japanese anime, enhancing the cinematic experience for Japanese audiences.

IMAX Corporation and Major Cineplex have expanded their partnership with an agreement to introduce three new IMAX with Laser systems in Bangkok, Thailand. This development increases IMAX's total presence in Thailand to seven screens, targeting the growing Thai film market. Two upgrades are planned for existing popular locations, including ICON CINECONIC and Paragon Cineplex, while the third will be in a new Mega Cineplex at Mega Bangna Mall. The upgraded systems promise premier viewing experiences with advanced 4K laser projection technology.

IMAX Corporation has announced the promotion of Natasha Fernandes to Chief Financial Officer (CFO), effective May 1, 2022. A 15-year veteran of the company, Fernandes previously held the role of Deputy CFO. She succeeds Joseph Sparacio, who had served as CFO previously. Fernandes is credited with successfully managing IMAX's balance sheet during the pandemic and leading a $200 million convertible debt offering. IMAX anticipates her leadership will be vital as it expands globally and develops new technologies.

IMAX Corporation (NYSE:IMAX) will hold a quarterly conference call on April 28, 2022, at 4:30 p.m. ET to discuss its first-quarter 2022 financial results. This call will be accessible via webcast on the company's investor relations website and by telephone for US and Canada callers at (888) 220-8451. The conference ID is 6010313. A replay of the call will be available post-event. As of December 31, 2021, there are 1,683 IMAX theater systems operating globally.

IMAX Corporation reported a $22.3 million global box office debut for Warner Bros.' 'The Batman' across 725 screens in 76 markets, marking the highest March global opening for IMAX since 2019. North America contributed $15.5 million, accounting for 12% of the film's domestic earnings. The film's promotion included an exclusive fan event that garnered over $2 million in revenue. IMAX's strong performance signals a recovery in the theatrical market, with upcoming blockbusters expected to sustain momentum throughout 2022.

IMAX Corporation (NYSE: IMAX) reported strong financial results for Q4 and full-year 2021, highlighting a substantial recovery post-pandemic. Q4 revenue surged by 94% to $108.6 million, with net income of $10.1 million, significantly up from a loss in the previous year. Adjusted EBITDA rose to $44 million, marking a 340% increase. For the full year, net loss shrank from $143.8 million to $22.3 million. IMAX's technology network revenue also saw impressive growth, and the company repurchased shares, demonstrating confidence in its financial health as it anticipates a robust 2022 film slate.

IMAX Corporation (NYSE:IMAX) will host a quarterly conference call on February 23 at 5:00 p.m. ET to discuss its fourth-quarter and full-year 2021 financial results. This call will be available via webcast on the company's investor relations page. Participants can join by telephone by dialing the US number (888) 220-8474 or the international number (647) 484-0475, using conference ID 6273867. IMAX operates 1,664 theater systems globally, serving as a vital platform for major event films.

IMAX Corporation (NYSE: IMAX) achieved a strong box office performance, grossing $23.5 million during the 2022 Chinese New Year holiday. The film "The Battle at Lake Changjin 2" led with $23.3 million from IMAX screens, marking the third-best six-day opening for the holiday. This was the fifth consecutive year IMAX surpassed $20 million during this event. IMAX captured nearly 6% of the film's total gross on only 1% of the screens, showcasing the brand's appeal in China and reaffirming its dominance in immersive cinema experiences.