Imax Corp Stock Price, News & Analysis

IMAX Corporation and Dolphin Entertainment have forged a multi-year agreement to co-finance and produce a series of feature-length documentaries. The inaugural project is The Blue Angels, developed by Bad Robot Productions and Zipper Bros Films, spotlighting the Navy and Marine Corps flight squadron during their training and performance seasons. The documentary promises unprecedented views inside the cockpit and formation of the F/A-18 Super Hornets. The Blue Angels is currently in production and is slated for release in IMAX theaters in 2023.

IMAX Corporation (NYSE: IMAX) will have its CEO, Rich Gelfond, present at the 50th Annual J.P. Morgan Global Technology, Media and Communications Conference on May 25, 2022, at 9:20 AM Eastern Time. Accompanied by CFO Natasha Fernandes and Head of Enterprise Transformation Heather Anthony, the team will engage in one-on-one investor meetings in Boston. A live webcast of the event will be accessible on IMAX's investor relations site at investors.imax.com.

IMAX Corporation achieved a remarkable $33 million global opening weekend for Disney/Marvel's Doctor Strange in the Multiverse of Madness, marking the largest May debut for IMAX. The film ranked as the fifth biggest global IMAX opening for a Marvel film, with 48 out of 68 international markets reaching the top ten all-time IMAX opening weekends. The North American box office brought in $18 million across 410 screens, while $15 million was earned in international markets. This outstanding performance hints at a strong summer blockbuster season ahead.

IMAX Corporation reported robust financial growth for Q1 2022, with total gross box office revenue of $173.2 million, a 57% increase year-over-year. The company captured a record 4.7% share of the domestic box office. Total revenue rose to $60.0 million from $38.8 million, while gross margin surged to $31.8 million. Adjusted EBITDA reached $14.8 million, a 429% increase. However, a net non-cash provision of $6.9 million was recorded due to uncertainty in Russia, contributing to an adjusted net loss of $8.2 million.

IMAX Corporation announced an expansion of its partnership with AEON Entertainment to install two new IMAX with Laser systems in suburban Tokyo and Osaka. This agreement aims to strengthen IMAX's growing presence in Japan, where it has increased its screen count from 13 to 39 in the last decade. Japan generated over $46 million in revenue for IMAX in 2021, ranking as its third highest market. The new systems, featuring advanced 4K laser projection technology, are part of IMAX's strategy to capitalize on local film successes, particularly Japanese anime, enhancing the cinematic experience for Japanese audiences.

IMAX Corporation and Major Cineplex have expanded their partnership with an agreement to introduce three new IMAX with Laser systems in Bangkok, Thailand. This development increases IMAX's total presence in Thailand to seven screens, targeting the growing Thai film market. Two upgrades are planned for existing popular locations, including ICON CINECONIC and Paragon Cineplex, while the third will be in a new Mega Cineplex at Mega Bangna Mall. The upgraded systems promise premier viewing experiences with advanced 4K laser projection technology.

IMAX Corporation has announced the promotion of Natasha Fernandes to Chief Financial Officer (CFO), effective May 1, 2022. A 15-year veteran of the company, Fernandes previously held the role of Deputy CFO. She succeeds Joseph Sparacio, who had served as CFO previously. Fernandes is credited with successfully managing IMAX's balance sheet during the pandemic and leading a $200 million convertible debt offering. IMAX anticipates her leadership will be vital as it expands globally and develops new technologies.

IMAX Corporation (NYSE:IMAX) will hold a quarterly conference call on April 28, 2022, at 4:30 p.m. ET to discuss its first-quarter 2022 financial results. This call will be accessible via webcast on the company's investor relations website and by telephone for US and Canada callers at (888) 220-8451. The conference ID is 6010313. A replay of the call will be available post-event. As of December 31, 2021, there are 1,683 IMAX theater systems operating globally.

IMAX Corporation reported a $22.3 million global box office debut for Warner Bros.' 'The Batman' across 725 screens in 76 markets, marking the highest March global opening for IMAX since 2019. North America contributed $15.5 million, accounting for 12% of the film's domestic earnings. The film's promotion included an exclusive fan event that garnered over $2 million in revenue. IMAX's strong performance signals a recovery in the theatrical market, with upcoming blockbusters expected to sustain momentum throughout 2022.