Welcome to our dedicated page for Imax news (Ticker: IMAX), a resource for investors and traders seeking the latest updates and insights on Imax stock.
IMAX Corporation (NYSE: IMAX) delivers groundbreaking immersive entertainment through its premium theater systems and cinematic technology innovations. This dedicated news hub provides investors and industry professionals with authoritative updates on corporate developments shaping the future of experiential entertainment.
Access real-time announcements including quarterly earnings disclosures, strategic partnership agreements, and advancements in proprietary laser projection systems. Our curated collection features official press releases about theater network expansions, film remastering breakthroughs, and executive leadership updates directly from IMAX’s corporate communications team.
Key content categories include financial performance reports, technology patent announcements, global exhibition partnerships, and content production collaborations. Bookmark this page for reliable updates on IMAX’s initiatives in premium theatrical experiences and its evolving role in the entertainment ecosystem.
IMAX Corporation has appointed Michele Golden as its Global Chief People Officer, effective September 13, 2022. Golden, with over 20 years of experience in human resources at major media companies, will lead IMAX's human resources, recruiting, talent management, and diversity initiatives. Previously, she served as Chief HR Officer for HBO Max at WarnerMedia. IMAX aims to strengthen its global teams and culture as it seeks growth in entertainment technology under the leadership of Golden, who will report to CEO Rich Gelfond.
IMAX Corporation announced a $200 million increase in its share-repurchase program, raising the total repurchase authority to $400 million. Since the program's inception on July 1, 2017, approximately 10.0 million shares have been repurchased for an aggregate price of $175.0 million, achieving a 15% reduction in shares outstanding. The repurchase authorization allows for $225.0 million in future purchases until June 30, 2023. IMAX has received an exemption from the Ontario Securities Commission to facilitate these repurchases under specific conditions.
IMAX Corporation has appointed Jennifer Horsley as the new Senior Vice President of Investor Relations. With over 20 years of experience, primarily from her tenure at Xerox and her recent role at Taboola, Horsley will spearhead IMAX's investor relations strategy. Reporting to Natasha Fernandes, the CFO, she aims to strengthen IMAX's presence in the investment community. The company seeks to leverage its unique business model and a strong film slate to drive growth.
IMAX Corporation (NYSE: IMAX) announced its participation in two upcoming conferences. The first is the Bank of America 2022 Media, Communications & Entertainment Conference on September 7, 2022, featuring CFO Natasha Fernandes. The second event is the Goldman Sachs Communacopia + Technology Conference on September 14, 2022, with CEO Rich Gelfond. Both events will be webcast live on the IMAX investor relations website, enhancing accessibility for stakeholders.
IMAX Corporation (NYSE: IMAX) and Stage Access have announced two film experiences featuring Grammy-winning soprano Renée Fleming. Cities That Sing - Paris will premiere on September 18, 2022, followed by Cities That Sing - Venice on October 30, 2022, in select IMAX theaters worldwide. Both films capture iconic performances and cultural explorations, showcasing renowned opera locations through IMAX's immersive technology. Tickets for the Paris premiere will be available starting August 30, while Venice ticket sales will be announced later.
IMAX Corporation and Cineworld announced an expansion of their partnership, adding five new IMAX with Laser systems to bring the total to 52 locations upgraded or opened by 2026. Notable sites include Cineworld Leicester Square in London and Regal Irvine Spectrum in California. This collaboration aims to enhance the moviegoing experience post-COVID, capitalizing on the success of blockbuster films. IMAX's advanced 4K laser projection technology will be featured in these theaters, promoting higher image quality and customer satisfaction.
IMAX reported substantial growth in Q2 2022, with a total global box office of $247.7 million, up 128.1% year-over-year. Revenues increased to $74 million from $51 million, and gross margins improved to $44 million. Net loss decreased to ($2.9 million), or ($0.05) per share, significantly better than the ($9.2 million) loss a year ago. IMAX expects to release 15 local language titles in Q3. The China network is now 91% operational, a rise from 65% in April, showcasing a recovery in box office performance.
IMAX Corporation will host a conference call on July 28, 2022, at 4:45 p.m. Eastern Time to discuss its second-quarter 2022 financial results. Interested participants can join by dialing the specified numbers or accessing the webcast via IMAX's investor relations page. The conference code for the call is 7250150. As of March 31, 2022, IMAX operates 1,690 theater systems globally. The company is recognized for its advancements in entertainment technology, enhancing audiences' experiences with major films worldwide.
IMAX Corporation reported robust earnings with a $23 million worldwide opening for Disney/Marvel's Thor: Love and Thunder, including $13.8 million from North America. This constituted a notable 10% of the overall domestic box office. The film achieved the largest domestic IMAX opening weekend for the Thor franchise and marked a top ten all-time IMAX opening weekend globally, excluding China. Internationally, IMAX generated $9.2 million across 65 countries, showcasing the brand's strong market position.
IMAX Corporation announced a 12-month extension of its share-repurchase program, which now runs until June 30, 2023. The program allows for the repurchase of up to $200 million of common shares, with $26.2 million remaining available. Since the program's initiation in July 2017, IMAX has repurchased about 10 million shares, representing a 15% net reduction. This extension is supported by an exemption under Canadian securities law that allows purchases beyond the typical limits, thus enhancing shareholder value and potentially influencing stock price positively.