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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 (NYSE: IMAX) and Disney/Marvel achieved significant records with the global debut of 'Deadpool & Wolverine', earning $36.5 million globally — the biggest IMAX opening since 2022.
This debut marks:
- Biggest IMAX July opening ever
- Biggest IMAX R-rated opening
- Biggest IMAX opening since 'Avatar: The Way of Water' (2022)
- Biggest Marvel IMAX opening since 'Spider-Man: No Way Home' (2021)
In North America, the film grossed $19.1 million, accounting for 9.3% of the domestic box office on just 1% of screens, with an impressive $46,000 per screen average. International markets like China contributed significantly, with $5 million in IMAX revenue, 21% of the nationwide total on less than 1% of screens.
The film opened on 1,642 IMAX screens in 83 markets and will continue its run into August, followed by other major releases such as 'Joker: Folie á Deux' and 'Venom: The Last Dance'.
IMAX reported solid Q2 2024 results, with revenue of $89 million, net income of $3.6 million, and EPS of 7 cents. The company saw significant growth in new system signings, up 89% to 87, and increased system installations by 20% to 24. IMAX raised its full-year 2024 installation guidance to 130-150 systems, up from 128 in 2023. Global box office reached $196 million for the quarter, boosted by a strong June. The company's cash from operations climbed to $35 million, a substantial increase from $5 million in Q2 2023. IMAX highlighted its strong position post-strikes and pandemic, with a robust film slate through 2026 and continued expansion in key markets like India, the Middle East, and Southeast Asia.
IMAX and muvi Cinemas, Saudi Arabia's largest exhibitor, have announced their first collaboration with an agreement for four new IMAX® with Laser systems in key commercial centers. The partnership includes two systems in Riyadh, one in Jeddah's Mall of Arabia, and the first-ever IMAX system in Dhahran. Three locations are set to open by the end of 2024, with the fourth following in 2025.
This expansion strengthens IMAX's presence in Saudi Arabia, a market that has shown significant growth and potential since 2019. The country consistently ranks among IMAX's top 20 globally, with recent releases like 'Oppenheimer' and 'Bad Boys: Ride or Die' achieving historic success. The new locations will feature IMAX with Laser technology, offering superior image quality and precision audio.
IMAX (NYSE: IMAX) has announced a conference call to discuss its second-quarter 2024 financial results. The call is scheduled for Thursday, July 25th at 8:30 a.m. Eastern Time. The webcast will be accessible at IMAX's investor relations website. Interested participants need to pre-register at the provided link to receive a dial-in number and unique PIN. To avoid delays, it is recommended to dial in ten minutes before the call starts. A replay of the call will be available on the company's investor relations website.
Wanda Film and IMAX have announced an expanded strategic partnership to enhance their footprint in China. The agreement entails upgrading 61 top-performing Wanda Film locations to IMAX® with Laser technology, renewing up to 37 existing IMAX locations, and potentially adding 25 new locations over the next three years. The collaboration also includes developing exclusive content and experiences in documentaries, music, gaming, and sports. This move strengthens IMAX's leading position in China, ensuring continued growth and innovation in the cinematic experience.
IMAX and French exhibition company MEGARAMA have announced an agreement to install three new IMAX with Laser systems in France. This deal will double IMAX's footprint with MEGARAMA and includes locations in the northern part of France (set to open in 2025) and two in the suburbs of Paris (scheduled for 2026). Currently, IMAX and MEGARAMA operate two locations in France, with four more planned sites in the backlog. The new locations will feature IMAX's advanced laser projection technology, enhancing the cinematic experience with better image quality and sound. This agreement follows a successful year for IMAX in France, highlighted by record box office earnings of over $23 million in 2023 and a strong Q1 in 2024 driven by the success of "Dune: Part Two".
IMAX (NYSE: IMAX) will participate in the 52nd Annual J.P. Morgan Global Technology, Media, and Communications Conference in Boston, MA. Rich Gelfond, CEO, will be the Executive present at the event. One-on-one investor meetings will also be held. A live webcast of the fireside chat will be available on the IMAX investor relations website.
IMAX (NYSE: IMAX) and SM Cinema have expanded their partnership by adding 10 state-of-the-art IMAX with Laser systems in the Philippines, more than doubling IMAX's footprint in the country. The deal includes three new locations and upgrades to seven existing systems, with three upgrades set to open in 2024 and the rest by 2026. This expansion signifies IMAX's growing presence in the global entertainment market and its business momentum. The collaboration underscores the success of the partnership between IMAX and SM Cinema, with the Philippines being one of IMAX's top performing markets in Southeast Asia.
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