Imax Corp Stock Price, News & Analysis

IMAX Corporation and ODEON Cinemas have expanded their partnership, set to upgrade six UK theatres to IMAX with Laser systems by 2025 and establish nine new locations across Europe, including Spain and Italy. This move aims to enhance the cinematic experience as audiences return in strong numbers post-pandemic. Notably, ODEON is IMAX's largest partner in Europe, currently operating 34 IMAX theatres. Rich Gelfond, IMAX CEO, emphasized the growing market share and the positive momentum from this agreement, reinforcing IMAX's commitment to innovative cinematic technology.

IMAX Corporation achieved a remarkable $25 million global opening for Jurassic World: Dominion, marking its third consecutive weekend with earnings over $25 million. The film garnered $12.3 million in North America and $6.3 million in China, representing the largest IMAX Hollywood debut in China since May 2021, despite capacity restrictions. IMAX has exceeded its total summer box office from 2021, with several upcoming releases designed for IMAX, including Lightyear and Thor: Love and Thunder.

IMAX Corporation (NYSE: IMAX) has announced that CEO Richard L. Gelfond will present at the Credit Suisse 24th Annual Communications Conference on June 14, 2022, at 4:35 PM ET. Investors can access a live webcast of this event on the IMAX investor relations website. As of March 31, 2022, IMAX operates 1,690 theater systems worldwide, reinforcing its status as a leading global technology platform for immersive entertainment experiences. The company continues to leverage its innovative technology to enhance audience engagement across various content formats.

IMAX achieved a remarkable milestone with a record-breaking $32.5 million global opening for Top Gun: Maverick, representing the best Memorial Day Weekend in its history. The film garnered $21 million specifically from IMAX theaters, comprising 14% of the North American box office. Tom Cruise's latest blockbuster clinched the highest IMAX opening for him to date, surpassing prior records over a decade. The film was shot using advanced IMAX technology, providing exclusive content for audiences.

IMAX Corporation and Dolphin Entertainment have forged a multi-year agreement to co-finance and produce a series of feature-length documentaries. The inaugural project is The Blue Angels, developed by Bad Robot Productions and Zipper Bros Films, spotlighting the Navy and Marine Corps flight squadron during their training and performance seasons. The documentary promises unprecedented views inside the cockpit and formation of the F/A-18 Super Hornets. The Blue Angels is currently in production and is slated for release in IMAX theaters in 2023.

IMAX Corporation (NYSE: IMAX) will have its CEO, Rich Gelfond, present at the 50th Annual J.P. Morgan Global Technology, Media and Communications Conference on May 25, 2022, at 9:20 AM Eastern Time. Accompanied by CFO Natasha Fernandes and Head of Enterprise Transformation Heather Anthony, the team will engage in one-on-one investor meetings in Boston. A live webcast of the event will be accessible on IMAX's investor relations site at investors.imax.com.

IMAX Corporation achieved a remarkable $33 million global opening weekend for Disney/Marvel's Doctor Strange in the Multiverse of Madness, marking the largest May debut for IMAX. The film ranked as the fifth biggest global IMAX opening for a Marvel film, with 48 out of 68 international markets reaching the top ten all-time IMAX opening weekends. The North American box office brought in $18 million across 410 screens, while $15 million was earned in international markets. This outstanding performance hints at a strong summer blockbuster season ahead.

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.