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IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events in the United States, Canada, Greater China, rest of Asia, Western Europe, Latin America, and internationally. It operates through Content Solutions; and Technology Products and Services segments. The company offers IMAX film remastering, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced, which provides end-to-end technology across streaming content and entertainment devices at home; AI-driven video quality solutions for media and entertainment companies; and streaming technology software products. It also provides preventative and emergency maintenance services, and quality monitoring to the IMAX network; film post-production services; and IMAX film and digital cameras for content creators. In addition, the company engages in the distribution of format documentary films to institutional theaters, as well as live performances and interactive events with artists and creators; after-market sales of IMAX System parts and 3D glasses; sale or lease of IMAX theater systems; provision of management services to theaters; and rental of company's proprietary 2D and 3D large-format film cameras. The company markets its theater systems through a direct sales force and marketing staff to science and natural history museums, zoos, aquariums, and other educational and cultural centers, as well as theme parks, private home theaters, tourist destination sites, fairs, and expositions. It offers its services under the IMAX, IMAX 3D, Experience It In IMAX, The IMAX Experience, DMR, Filmed For IMAX, IMAX Live, IMAX Enhanced, and IMAX StreamSmart. IMAX Corporation was founded in 1967 and is headquartered in Mississauga, Canada.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $410M | $133M | $35M | $85M | 8.2% | 16.5% | 33.8% |
| 2024 | $352M | $111M | $26M | $30M | 6.9% | -6.0% | 2.9% |
| 2023 | $375M | $113M | $25M | $26M | 7.3% | 24.6% | - |
| 2022 | $301M | $53M | $-23M | $-15M | -6.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 300.81 | 374.84 | 352.21 | 410.21 |
| Cost Of Revenue | 144.45 | 160.50 | 162.01 | 164.02 |
| Gross Profit | 156.35 | 214.34 | 190.20 | 246.19 |
| Operating Expense | 156.72 | 160.85 | 142.59 | 152.48 |
| Operating Income | -0.36 | 53.49 | 47.61 | 93.71 |
| EBITDA | 52.77 | 112.96 | 111.28 | 133.10 |
| EBIT | -3.89 | 52.94 | 45.78 | 70.66 |
| Pretax Income | -9.77 | 46.12 | 37.70 | 63.29 |
| Tax Provision | 10.11 | 13.05 | 5 | 17.77 |
| Net Income | -22.80 | 25.34 | 26.06 | 34.88 |
| Net Income Common Stockholders | -22.80 | 25.34 | 26.06 | 34.88 |
| Total Expenses | 301.17 | 321.35 | 304.60 | 316.50 |
| Interest Expense | 5.88 | 6.82 | 8.08 | 7.36 |
| Interest Income | 1.43 | 2.49 | 2.18 | 2.80 |
| Research And Development | 5.30 | 10.11 | 5.10 | 5.82 |
| Selling General And Administration | 138.04 | 144.41 | 132.70 | 138.46 |
| Normalized EBITDA | 57.17 | 115.58 | 114.91 | 158.71 |
| Normalized Income | -19.32 | 27.22 | 29.20 | 53.29 |
| Basic EPS | -0.40 | 0.47 | 0.49 | 0 |
| Diluted EPS | -0.40 | 0.46 | 0.48 | 0 |
| Tax Effect Of Unusual Items | -0.92 | -0.74 | -0.48 | -7.20 |
| Tax Rate For Calcs | 0.21 | 0.28 | 0.13 | 0.28 |
| Total Unusual Items | -4.40 | -2.62 | -3.62 | -25.61 |
| Total Unusual Items Excluding Goodwill | -4.40 | -2.62 | -3.62 | -25.61 |
| Net Income From Continuing Operation Net Minority Interest | -22.80 | 25.34 | 26.06 | 34.88 |
| Reconciled Depreciation | 56.66 | 60.02 | 65.50 | 62.45 |
| Reconciled Cost Of Revenue | 92.62 | 105.05 | 102.26 | 109.09 |
| Net Interest Income | -4.45 | -4.33 | -5.90 | -4.56 |
| Net Income From Continuing And Discontinued Operation | -22.80 | 25.34 | 26.06 | 34.88 |
| Total Operating Income As Reported | -4.83 | 50.40 | 43.86 | 84.23 |
| Diluted Average Shares | 56.67 | 55.15 | 53.86 | 0 |
| Basic Average Shares | 56.67 | 54.31 | 52.65 | 0 |
| Diluted NI Availto Com Stockholders | -22.80 | 25.34 | 26.06 | 34.88 |
| Minority Interests | -2.92 | -7.73 | -6.64 | -10.65 |
| Net Income Including Noncontrolling Interests | -19.88 | 33.07 | 32.70 | 45.53 |
| Net Income Continuous Operations | -19.88 | 33.07 | 32.70 | 45.53 |
| Earnings From Equity Interest Net Of Tax | 0 | 0 | 0 | 0 |
| Other Income Expense | -4.96 | -3.04 | -4.01 | -25.85 |
| Other Non Operating Income Expenses | -0.56 | -0.41 | -0.39 | -0.24 |
| Special Income Charges | -4.47 | -3.09 | -3.75 | -24.74 |
| Other Special Charges | 0 | 0 | 0 | 15.26 |
| Write Off | 4.47 | 0.14 | 0 | 0 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 7 |
| Restructuring And Mergern Acquisition | 0 | 2.95 | 3.75 | 2.48 |
| Gain On Sale Of Security | 0.07 | 0.47 | 0.13 | -0.87 |
| Net Non Operating Interest Income Expense | -4.45 | -4.33 | -5.90 | -4.56 |
| Interest Expense Non Operating | 5.88 | 6.82 | 8.08 | 7.36 |
| Interest Income Non Operating | 1.43 | 2.49 | 2.18 | 2.80 |
| Other Operating Expenses | 0.56 | 0 | 0 | 0 |
| Provision For Doubtful Accounts | 8.55 | 1.76 | -0.97 | 0.70 |
| Depreciation Amortization Depletion Income Statement | 4.83 | 4.58 | 5.76 | 7.52 |
| Depreciation And Amortization In Income Statement | 4.83 | 4.58 | 5.76 | 7.52 |
| Amortization | 4.83 | 4.58 | 5.76 | 7.52 |
| Amortization Of Intangibles Income Statement | 4.83 | 4.58 | 5.76 | 7.52 |
| General And Administrative Expense | 138.60 | 144.41 | 0 | 0 |
| Other Gand A | 138.04 | 144.41 | 0 | 0 |
| Salaries And Wages | 0.56 | 0.41 | 0 | 0 |
| Operating Revenue | 300.81 | 374.84 | 352.21 | 410.21 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| IMAX Corporationthis co. | IMAX | $2.0B | 59.11↑ premium | 5.94 | 8.2% | 16.52 |
| Ziff Davis, Inc. | ZD | $1.9B | 37.19 | 1.00 | 2.7% | 6.02 |
| Magnite, Inc. | MGNI | $1.9B | 13.60 | 2.00 | 15.7% | 14.07 |
| Yelp Inc. | YELP | $1.8B | 11.02 | 2.26 | 20.5% | 5.77 |
| Stagwell Inc. | STGW | $1.7B | 83.63 | 2.23 |
| 3.6% |
| 10.02 |
| WEBTOON Entertainment Inc. | WBTN | $1.7B | - | 1.37 | -28.2% | -37.50 |
| Liberty Latin America Ltd. | LILAK | $1.6B | - | 2.92 | -57.5% | 9.02 |
| Liberty Latin America Ltd. | LILA | $1.6B | - | 2.85 | -57.5% | 8.98 |
| Rumble Inc. | RUM | $1.4B | - | 8.22 | -29.8% | -20.63 |
| Peer Median | - | 25.39 | 2.24 | -12.7% | 7.50 | |