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IMAX Corporation (NYSE: IMAX) stands as a premier global technology platform for entertainment and events. Renowned for its immersive cinematic experiences, IMAX combines proprietary software, specialized auditorium architecture, and patented technology to deliver unparalleled visual and sound quality. The company's innovative approach enables it to be a leader in multiple facets: as a technology innovator, a Hollywood collaborator, and a global enterprise.
IMAX partners with top filmmakers and studios to enhance blockbuster movies and documentaries, ensuring that every film shown in its theaters offers a unique, awe-inspiring experience. The company's state-of-the-art systems are operational in over 1,772 theaters across 90 countries, making it a dominant force in the global cinema landscape.
Recent achievements highlight the company's robust performance and innovation. For instance, IMAX recorded a stellar 22% of the global box office for 'Dune: Part Two' in its second weekend, marking the biggest global weekend market share in the company's history. Furthermore, IMAX has expanded its footprint by partnering with Major Cineplex in Thailand and Miraj Cinemas in India, adding numerous state-of-the-art IMAX with Laser systems.
Financially, IMAX remains solid with significant liquidity and a strategic share-repurchase program aimed at enhancing shareholder value. As of March 31, 2024, the company reported available liquidity of $367.0 million and continues to invest in technology and global expansion.
IMAX's commitment to innovation extends beyond just films. It is also a pioneer in live events, gaming, and virtual reality experiences. Additionally, the company maintains a strong presence on social media and regularly engages with its audience through platforms like Instagram, Facebook, LinkedIn, X (formerly Twitter), and YouTube.
Headquartered in New York, Toronto, and Los Angeles, IMAX also operates offices in London, Dublin, Tokyo, and Shanghai. The company continues to drive forward with plans for further global expansion and technological advancements, solidifying its position as a leader in the entertainment industry.
IMAX China (HKSE:1970) will hold a conference call on July 27, 2021, at 8:00 p.m. ET to discuss its first-half 2021 financial results. Interested parties can access the call via telephone by calling the appropriate number for their region. A replay will be available after the call via webcast or telephone. IMAX China focuses on expanding IMAX's presence in Greater China and has established a significant operational footprint with 1,652 theater systems across 84 countries as of March 31, 2021.
IMAX achieved a significant milestone by scoring a $5.5 million domestic opening for Universal's "F9," marking its largest pandemic-era weekend at the box office. The film debuted on 378 IMAX screens, garnering 7.8% of the total domestic box office. Globally, "F9" has earned $30 million since its international rollout began. CEO Rich Gelfond praised Universal's release strategy, claiming it revitalizes the Hollywood slate. Looking ahead, IMAX plans to screen Disney's "Black Widow" on July 9 with strong pre-sales.
IMAX Corporation announced a 12-month extension to its share-repurchase program, now valid until June 30, 2022. The program allows for the repurchase of up to $200 million in common shares, with $89.4 million remaining. Since its inception on July 1, 2017, the program has seen approximately 6 million shares repurchased for about $110.6 million, resulting in a 9% reduction of shares outstanding. Despite the extension, IMAX has no current plans for further buybacks due to the operating environment.
On June 10, 2021, IMAX Corporation announced that its CEO, Richard L. Gelfond, will present at the Credit Suisse 23rd Annual Communications Conference on June 15, 2021, at 2:55 p.m. EST. The event will be webcast live and accessible via investors.imax.com. The presentation will be archived for 90 days.
IMAX Corporation (NYSE: IMAX) has announced the election of Darren Throop, founder of Entertainment One, as the Chairman of its Board. Also, Steve Pamon, former COO of Parkwood Entertainment, has been elected to the Board. These decisions were made during the Annual and Special Meeting of Shareholders. Throop's extensive background in global content and business scaling is expected to guide IMAX's growth strategy, while Pamon's experience in entertainment and technology will support the company’s new opportunities. Both appointments are effective immediately.
IMAX (NYSE: IMAX) reported a robust domestic opening weekend of $5.3 million for 'A Quiet Place Part II' across 361 screens, marking its largest opening since the pandemic began. This accounted for 9% of the film's box office despite IMAX only operating on less than 3% of total screens. Social distancing measures limited capacity to 40% in major U.S. markets like New York and California. Globally, the film earned $6.1 million, with IMAX generating $9.5 million worldwide, boosted by Universal's 'F9'. CEO Rich Gelfond emphasized this as a significant momentum shift for the box office.
IMAX recorded a significant $14 million from the international launch of Universal's "F9" across 800 screens in various regions, marking the biggest Hollywood opening since December 2019. China led with $12.4 million, representing 9.2% of "F9"'s gross on just 1% of screens. This sets a new performance benchmark for IMAX in the franchise. CEO Rich Gelfond highlighted a resurgence in moviegoing, indicating strong pent-up demand. The film's success is expected to enhance box office recovery globally.
IMAX Corporation (NYSE: IMAX) announced CEO Richard L. Gelfond will present at the J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on May 26, 2021, at 5:55 p.m. EST. The conference will be webcast live, accessible at investors.imax.com, and archived for 90 days. IMAX is a leader in entertainment technology, operating 1,652 theater systems across 84 countries. The company is known for its innovative cinematic experiences and collaborations with top filmmakers.
IMAX Corporation (NYSE: IMAX) announced that CEO Richard L. Gelfond will present at the 16th Annual Needham Virtual Technology and Media Conference on May 18, 2021, at 12:45 p.m. ET. The conference will be accessible via a live webcast at investors.imax.com. The presentation will be archived for 90 days.
IMAX Corporation (NYSE: IMAX) reported Q1 2021 financial results, highlighting a revenue increase to $38.8 million, a gross margin of $17.3 million, and positive EBITDA driven by a rebound in global box office, totaling $110 million. The company noted a significant recovery in Asia and encouraging trends in North America, with a record high for local language films in Japan. Despite a net loss of $14.8 million, IMAX strengthened its balance sheet with $230 million in convertible notes and $267.8 million in cash. Patrick McClymont will leave as CFO, with Joseph Sparacio as interim head.
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