IMAX Corporation Reports Second Quarter 2026 Results

About this update from Imax Corporation

NEW YORK, July 23, 2026 --( BUSINESS WIRE )--IMAX Corporation (NYSE: IMAX) today reported strong financial results for the second quarter of 2026, demonstrating the value of its unique global entertainment platform and broad content portfolio. "As we enter the second half of 2026, Christopher Nolan's breathtaking The Odyssey — the first-ever full-length theatrical release filmed entirely with IMAX film cameras — is emerging as a transformational event for IMAX, as the purest and most complete expression yet of the power of our global platform," said Rich Gelfond, CEO of IMAX. "In its debut, The Odyssey achieved the biggest IMAX opening weekend of all time in like-for-like markets(1) and delivered the highest IMAX international market share in like-for-like markets of any major release in our history." " The Odyssey has the potential to impact our business in many ways that are clear — and many ways we can't yet predict, as its success on our platform reverberates across the creative community, and throughout the entertainment landscape. In the near-term, the film gives us excellent momentum as we enter the second half of the year, with a strong slate that culminates with Dune: Part Three , which was also shot with IMAX film cameras and will be presented in IMAX 70mm film." "We are very pleased with our strong results for the second quarter — in which we handily beat consensus estimates across key financial metrics — and look forward to building on our momentum to deliver global box office growth, network expansion worldwide, new opportunities for our brand and continued value for our shareholders." Second Quarter Financial Highlights Second Quarter Segment Results (1) Content Solutions Segment Technology Products and Services Segment Operating Cash Flow and Liquidity Net cash provided by operating activities for first half 2026 increased 19% year-over-year to $36 million, reflecting higher operating profits and improvements in working capital driven by higher collections. As of June 30, 2026, the Company's available liquidity was $551 million. The Company's liquidity included cash and cash equivalents of $160 million, $334 million in available borrowing capacity under the Company's revolving credit facility, and $57 million in available borrowing capacity under IMAX China's revolving facilities. Total debt, excluding deferred financing costs, was $292 million as of June 30, 2026. In 2025, the Company issued $250 million of 0.750% Convertible Senior Notes due 2030 ("2030 Convertible Notes"). In connection with the pricing of the 2030 Convertible Notes, the Company entered into privately negotiated capped call transactions with an initial cap price of $57.10 per share of the Company's common shares. Share Count and Capital Return The weighted average basic and diluted shares outstanding in the second quarter of 2026 were 55.0 million and 56.6 million, respectively, compared to 53.8 million and 55.2 million in the second quarter of 2025. During the second quarter of 2026, the Company repurchased 404,866 common shares at an average price of $33.91 per share, for a total of $13.7 million, excluding commission. During the second quarter of 2025, the Company did not have any repurchases of common shares. In June 2025, the Company's Board of Directors approved an extension of its share repurchase program through June 30, 2026 and an increase of approximately $100.0 million in the Company's share repurchase program. As of June 30, 2026, the Company's total share repurchase authority was $500.0 million with approximately $237.0 million available under the program. Supplemental Materials For more information about the Company's results, please refer to the IMAX Investor Relations website located at investors.imax.com . Investor Relations Website On a monthly basis, the Company posts quarter-to-date box office results on the IMAX Investor Relations website located at investors.imax.com. The Company expects to provide such updates within five business days of month-end, although the Company may change this timing without notice. The Company may post additional information on the Company's corporate and Investor Relations websites, which may be material to investors. Accordingly, investors, media and others interested in the Company should monitor the Company's website in addition to the Company's press releases, United States Securities and Exchange Commission (the "SEC") or in Canada, the System for Electronic Data Analysis and Retrieval ("SEDAR+") filings and public conference calls and webcasts, for additional information about the Company. References to our website address and domain names throughout this release are for informational purposes only, or to fulfill specific disclosure requirements of the SEC's rules or The New York Stock Exchange Listing Standards. These references are not intended to, and do not, incorporate the contents of our websites by reference into this release. Conference Call The Company will host a conference call today at 8:30 AM ET to discuss its second quarter 2026 financial results. This call is being webcast and can be accessed at investors.imax.com. To access the call via telephone, interested parties please pre-register at: https://register-conf.media-server.com/register/BI3274f7133629408aacb9aff84db92ce1 and you will be provided with a dial-in number and unique pin. To avoid delays, we encourage participants to dial into the conference call ten minutes ahead of the scheduled start time. A replay of the call will be available via webcast at investors.imax.com . About IMAX Corporation IMAX, an innovator in entertainment technology, combines proprietary software, architecture, and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX systems to connect with audiences in extraordinary ways, making IMAX's network among the most important and successful theatrical distribution platforms for major event films around the globe. IMAX's principal executive offices are located in Mississauga, Ontario, Canada and New York, New York. As of June 30, 2026, there were 1,876 IMAX systems (1,809 commercial multiplexes, 10 commercial destinations, 57 institutional locations) operating in 91 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code "1970". IMAX®, IMAX® 3D, Experience It In IMAX®, The IMAX Experience ®, DMR®, Filmed For IMAX®, IMAX Live®, and IMAX Enhanced® are trademarks and trade names of the Company or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. For more information, visit www.imax.com . You can also connect with IMAX on Instagram ( www.instagram.com/imax ), Facebook ( www.facebook.com/imax ), LinkedIn ( www.linkedin.com/company/imax ), X ( www.twitter.com/imax ), and YouTube ( www.youtube.com/imaxmovies ). Forward-Looking Statements This earnings release contains forward looking statements that are based on IMAX Corporation (the "Company") management's assumptions and existing information and involve certain risks and uncertainties which could affect our future results and cause those results or other outcomes to differ materially from future results expressed or implied by such forward looking statements. In some cases, you can identify these statements by forward-looking words such as "accelerate," "believe," "continue," "could," "expect," "future," "grow," "look forward to," "may," "potential," "momentum," "will" or the negative or other variations thereon or comparable terminology. These forward-looking statements include, but are not limited to statements regarding: the Company's business and technology strategies and measures to implement such strategies; the Company's competitive strengths, differentiation, goals, market opportunity and penetration, including opportunities in and expected growth from international markets, momentum and runway for expansion and growth of business, networks, operations and technology; capital allocation, including with respect to share repurchase programs; the Company's technological capabilities and the differentiation thereof; future releases of films and other content to the IMAX network, including the timing of such releases, the anticipated box office revenues, and other effects thereof; and plans and references to the future success of the Company and expectations regarding its future operating, financial and technological results, including its box office guidance for 2026. These forward-looking statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. However, whether actual results and developments will conform with the expectations and predictions of the Company is subject to a number of risks and uncertainties, including, but not limited to: risks associated with the Company's investments, operations, and future expansion in foreign jurisdictions, including the impact of economic, political and regulatory policies and laws of the United States, Canada, and China, tariffs and other trade regulations, and economic and trade tensions, trade wars, and geopolitical conflicts; risks related to the Company's growth and operations in China, including the impact of industry conditions to both the Company and its partners; the ability of the Company's exhibitor customers to fulfill their contractual payment obligations; risks related to the Company's ability to attract and retain its employee population or the loss of the Company's key personnel; the performance of IMAX remastered films and other films released to the IMAX network; conditions, changes and developments in the commercial exhibition industry; the Company's ability to enter into new IMAX theater system agreements and sales and lease agreements and the effects thereof; fluctuations in operating results and cash flow; currency fluctuations and foreign exchange controls; the potential impact of increased competition in the markets within which the Company operates, including competitive actions by other companies; the ability of the Company to respond to change and advancements in technology, including with respect to AI products and AI-generated content; the potential impacts of consolidation among commercial exhibitors and studios; success of brand extensions and new business initiatives; conditions and competition in the in-home (including streaming) and out-of-home entertainment industries; the Company's ability to identify and pursue new business opportunities (or lack thereof); cybersecurity and data privacy incidents; the Company's ability to protect its intellectual property and to avoid infringing, misappropriating, or violating the intellectual property rights of others; effects of environmental laws and regulations, including with respect to climate change; weather conditions and natural disasters that may disrupt or harm the Company's business; effects of the Company's indebtedness on its cash flow and business activities and the Company's ability to comply with its debt agreements; general economic, market or business conditions; sustained inflationary pressure; political, economic and social instability and the resulting disruptions to the Company's operations or supply chain; the Company's ability to convert system backlog into revenue and cash flows; accuracy of assumptions underlying goodwill impairment assessment and fair value measurements; changes in laws, regulations or accounting principles; any statements of belief and any statements of assumptions underlying any of the foregoing; other factors and risks outlined in the Company's periodic filings with the United States Securities and Exchange Commission (the "SEC") or in Canada, the System for Electronic Data Analysis and Retrieval ("SEDAR+"); and other factors, many of which are beyond the control of the Company. Consequently, all of the forward-looking statements made in this earnings release are qualified by these cautionary statements, and actual results or anticipated developments by the Company may not be realized, and even if substantially realized, may not have the expected consequences to, or effects on, the Company. These factors, other risks and uncertainties and financial details are discussed in the Company's most recent Annual Report on Form 10-K, as may be updated in filings the Company makes from time to time with the SEC, including the Company's Quarterly Reports on Form 10-Q. The forward-looking statements herein are made only as of the date hereof and the Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise. IMAX Network and Backlog

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