IMAX Delivers 'Transformational' 2025 with Record Results

Company sets new highs for box office, revenue, profitability, and cash flow

Mar. 3, 2026 at 7:07am

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IMAX (NYSE:IMAX) executives told investors the company delivered a 'transformational' 2025, setting multiple records across box office, revenue, profitability, and cash flow, while positioning the business for what management described as a particularly strong film slate and continued network expansion in 2026 and beyond.

Why it matters

IMAX's strong financial performance and growth in 2025 demonstrate the company's ability to capitalize on the resurgence of the movie theater industry following the pandemic. The company's diversified content strategy, including a focus on local-language films, as well as its continued network expansion, position IMAX for continued success in the coming years.

The details

IMAX reported record 2025 results, including $1.28 billion in global box office (up 40% year-over-year), $410 million in total revenue (up 16%), $185 million in adjusted EBITDA (up 33%), and $1.45 in adjusted EPS (up $0.50). The company also saw gross margin expansion, with fourth-quarter gross margin at 58% (up 540 basis points) and full-year gross margin at 60% (up 600 basis points). IMAX's content strategy produced different drivers each quarter, ranging from local-language strength early in the year to a mix of genres and alternative programming, before finishing with large Hollywood tentpoles in the fourth quarter.

  • IMAX finished 2025 with a record $1.28 billion in global box office, up 40% year over year.
  • Fourth-quarter revenue increased 35% year over year, while fourth-quarter IMAX box office totaled $336 million, up 16% from the prior fourth-quarter record.

The players

Rich Gelfond

CEO of IMAX Corporation.

Natasha Fernandes

CFO of IMAX Corporation.

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What they’re saying

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— Robert Jenkins, San Francisco resident

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee

What’s next

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The takeaway

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