IMAX earnings: third quarter 2026

IMAX had a record third quarter of 2026. Sales rose 64% to $174.6 million, carried by record box office of $712 million on its screens, much of it from one film, The Odyssey. Profit from running the business more than doubled, and a one-off tax gain lifted net income further. Cash came in more slowly than profit. The pipeline of cinema systems waiting to be installed shrank, and the company gave no figures for what it expects next. ¹

Against what analysts expected

IMAX earned $1.96 per share as reported, and $2.21 on its own adjusted measure. Analysts on average, according to Nasdaq's earnings calendar, expected $0.97, which sits closer to the reported figure. Set against that figure, IMAX earned about 102% more than expected, though a one-off tax gain lifted the reported figure. ¹²

The strong points

• Sales hit a record $174.6 million, up 64% from a year ago, and the share of each dollar left after direct costs rose sharply. ¹
• Leaving aside a one-off tax gain, profit before tax still more than doubled, to $73.8 million. ¹
• Free cash flow, the cash left after running and investing in the business, reached $100.3 million over the first nine months, up from $62.9 million. ¹

The weak points

• The pipeline of cinema systems waiting to be installed fell to 409, from 478 a year earlier. ¹
• Cash from running the business over nine months was only about 88% of profit, as customers owed more and more money went into films and inventory. ¹

What the company expects

• IMAX gave no figures for next quarter or for the year, only management's word that it is excited about the year ahead. ¹
• IMAX expects a strong run of films in 2027, opening with Dune: Part Three and the China release of Avengers: Doomsday. ¹

Our verdict on the quarter

A strong report. A record quarter with sales up 64% and profit far above what analysts expected, even leaving aside a one-off tax gain; it stops short of the top grade because the company gave no forecast figures and its pipeline of systems to install shrank.

The results as published

• The results release itself
• The filing it came with (SEC)
• The previous results, for what it forecast then

Our full analysis of IMAX: https://marketmedals.com/companies/imax.html

Notes

1. IMAX's results release, 5 November 2026: sec.gov. ↩
2. Nasdaq's earnings calendar, 5 November 2026. ↩