IMAX Corp (NYSE:IMAX) reported record third quarter financial results, with strong growth across revenue, profitability, and global box office performance.
Revenue of $106.7 million was up 17% year-over-year and topped the Wall Street consensus estimate of $105 million.
Adjusted earnings per share (EPS) jumped 34% to $0.47 from $0.35, beating the consensus $0.38.
Adjusted EBITDA rose 34% to $51.8 million, representing a margin of nearly 49%.
IMAX CEO Rich Gelfond said the company “strategically programmed our network to deliver our best third quarter in history and emphatically demonstrated our differentiation.”
He noted that while the domestic box office declined 11% over the period, IMAX’s box office in the same market grew 29%, and global box office revenue rose 50% to $368 million, the company’s highest-ever third quarter.
IMAX said installations are pacing toward the high end of its full-year guidance of 150 to 160 systems, with 142 new signings year-to-date, exceeding the full-year total for 2024.
The company also noted that it remains on track to achieve a global box office of $1.2 billion for 2025 with a “highly promising slate” in Q4, including Avatar: Fire and Ash, Wicked: For Good, Zootopia 2, The Running Man, and Predator: Badlands.
Analysts at Wedbush welcomed IMAX’s “outstanding” Q3 results, noting that both box office share gains and a higher mix of sales-type installations contributed to the earnings beat.
They see the company continuing to benefit from an uptick in volume and quality of filmed-for-IMAX titles in 2026, a global box office not solely reliant on Hollywood, and its global footprint expansion.
“Driven by these factors, IMAX is poised to surpass peak EBITDA margins over the next year,” the analysts wrote.
“The 2025 – 2026 global film slate underscores IMAX’s growing prominence in Hollywood and worldwide as an essential partner for major theatrical releases across genres, languages, and geographies.”
The firm repeated its ‘Outperform’ rating and $39 price target on IMAX, which is currently trading at about $32.