IMAX China (1970) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was $81.4 million, down 6% year-over-year, with gross margin at $45.8 million, a 14% decrease, mainly due to lower box office in Greater China despite growth in other markets.

• Net income attributable to common shareholders was $4.2 million ($0.07 per diluted share), up from $2.3 million ($0.04 per diluted share) in Q1 2025; adjusted net income was $9.6 million ($0.17 per diluted share).

• Global box office for Q1 2026 reached $260 million, with 34 content releases; local language films contributed $62 million, or 24% of global box office.

• The IMAX network expanded to 1,865 systems in 91 countries, up from 1,810 systems in 89 countries year-over-year.

• CEO Richard Gelfond was on temporary medical leave during the quarter, with Robert D. Lister serving as interim principal executive officer.

Financial highlights

• Content Solutions segment revenue was $31.4 million (down 8% year-over-year), with gross margin of $18.3 million (down 22%).

• Technology Products and Services segment revenue was $48.3 million (down 4%), with gross margin of $26.9 million (down 8%).

• Adjusted EBITDA attributable to common shareholders was $26.8 million for Q1 2026.

• Cash and cash equivalents at quarter-end were $146.0 million, with $326.0 million available under the main credit facility.

• Effective tax rate for Q1 2026 was 28.5%, compared to 47.2% in Q1 2025.

Outlook and guidance

• Management expects sufficient capital and liquidity to fund anticipated operating needs and capital requirements for the next twelve months.

• Future results may be affected by the timing and performance of major film releases, mix of content, and macroeconomic conditions.

• The company continues to focus on expanding its international network and local language content strategy.