Latest news with #RichGelfond
Business Wire
07-08-2025
- Business
- Business Wire
Apple Cinemas and IMAX Expand Partnership with Agreement for Five New and Upgraded IMAX with Laser Locations Across U.S.
NEW YORK--(BUSINESS WIRE)--Apple Cinemas and IMAX ® Corporation (NYSE: IMAX) today announced an agreement for five IMAX with Laser systems in the United States — doubling the current IMAX footprint in Apple Cinemas locations. Under the agreement, IMAX will return to Philadelphia for the first time since 2020 in Apple Cinemas forthcoming Riverview Plaza – a renovation to the city's highest-grossing multiplex before it closed in 2020 that will reopen as the largest cinema in the Center City downtown area. The new IMAX location in Philadelphia is scheduled to open in 2026. The agreement will also include an additional new IMAX system in a location to be identified, as well as IMAX with Laser upgrades to three existing IMAX locations with Apple Cinemas in Maine, New Hampshire and California. The San Francisco, CA location—a favorite among local moviegoers and the site of an existing IMAX location that closed in 2023—reopened under Apple Cinemas' ownership earlier this year. All three IMAX locations in the agreement are set for upgrade before the end of 2027. 'Our expanded partnership with IMAX marks a bold leap forward in delivering next generation moviegoing,' said Siva Shan, Co-Founder of Apple Cinemas. 'White Plains set a new standard for immersive cinema, and with our marquee launch at Riverview Plaza in Philadelphia, we're raising it even higher. This isn't just growth — it's a reimagining of how audiences connect with movies in iconic cities across the country.' 'IMAX's strong performance at the box office continues to drive demand and create opportunity with exhibitors in North America – particularly strong, well-run regional theater owners like Apple Cinemas,' said Rich Gelfond, CEO of IMAX. 'A number of our locations in Suburban Philadelphia are among our best performing in the country, so we're excited to return to the city itself in a prime location with a great partner in Apple Cinemas.' Apple Cinemas White Plains in New York, which underwent an IMAX with Laser upgrade last year, is already delivering next-level cinematic experiences and has been met with strong audience response. This announcement is the latest in a banner year for IMAX, which has already signed deals for 130 new or upgraded systems so far this year, on par with the 130 signed in all of 2024. This momentum is evident in the reinvigorated North American market, where IMAX has signed agreements with nine new Domestic exhibitor partners in the last two years. The strong results this year have been powered by a knockout slate of films, with major Filmed for IMAX titles 'Tron: Ares' and 'Mortal Kombat 2,' and high-profile titles like 'Zootopia 2,' 'Wicked: For Good' and 'Avatar: Fire and Ash,' still to come. The agreement doubles IMAX's footprint with Apple Cinemas this year – at the start of 2025, the duo operated three locations across the US, and, inclusive of this deal, will soon operate six locations across six different states. The new and upgraded Apple Cinemas locations will be powered by IMAX with Laser, IMAX's most advanced theater technology. Designed from the ground up for the most immersive experience, IMAX with Laser offers crystal-clear, lifelike images and precision audio, powered by a ground-breaking 4K laser projection system, a new optical engine, and custom-designed lenses. This proprietary technology delivers brighter images with higher resolution, deeper contrast, and the widest range of colors exclusively for IMAX systems. 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 is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of June 30, 2025, there were 1,821 IMAX systems (1,750 commercial multiplexes, 11 commercial destinations, 60 institutional) operating in 89 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™, IMAX Enhanced ® and IMAX StreamSmart™ are trademarks and trade names of IMAX Corporation or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. For more information, visit You may also connect with IMAX on Instagram ( Facebook ( LinkedIn ( X ( and YouTube (
Yahoo
24-07-2025
- Business
- Yahoo
IMAX (NYSE:IMAX) Beats Q2 Sales Targets
Premium cinema technology company IMAX (NYSE:IMAX) reported revenue ahead of Wall Street's expectations in Q2 CY2025, with sales up 3.1% year on year to $91.68 million. Its non-GAAP profit of $0.26 per share was 15.1% above analysts' consensus estimates. Is now the time to buy IMAX? Find out in our full research report. IMAX (IMAX) Q2 CY2025 Highlights: Revenue: $91.68 million vs analyst estimates of $90.79 million (3.1% year-on-year growth, 1% beat) Adjusted EPS: $0.26 vs analyst estimates of $0.23 (15.1% beat) Adjusted EBITDA: $39.06 million vs analyst estimates of $33.4 million (42.6% margin, 16.9% beat) Operating Margin: 15.6%, up from 3.2% in the same quarter last year Free Cash Flow Margin: 36.9%, up from 29.8% in the same quarter last year Market Capitalization: $1.56 billion 'IMAX delivered outstanding financial results in the Second Quarter as the key drivers of our business worked in concert, with strong network growth worldwide, record box office in North America, and impressive market share gains driven by more releases filmed with our technology than ever,' said Rich Gelfond, CEO of IMAX. Company Overview Originally developed for World Expo '67 in Montreal as an innovative projection system, IMAX (NYSE:IMAX) provides proprietary large-format cinema technology and systems that deliver immersive movie experiences with enhanced image quality and sound. Revenue Growth A company's long-term sales performance is one signal of its overall quality. Even a bad business can shine for one or two quarters, but a top-tier one grows for years. With $362.5 million in revenue over the past 12 months, IMAX is a small player in the business services space, which sometimes brings disadvantages compared to larger competitors benefiting from economies of scale and numerous distribution channels. On the bright side, it can grow faster because it has more room to expand. As you can see below, IMAX grew its sales at a solid 7.3% compounded annual growth rate over the last five years. This shows it had high demand, a useful starting point for our analysis. We at StockStory place the most emphasis on long-term growth, but within business services, a half-decade historical view may miss recent innovations or disruptive industry trends. IMAX's recent performance shows its demand has slowed as its annualized revenue growth of 1.5% over the last two years was below its five-year trend. This quarter, IMAX reported modest year-on-year revenue growth of 3.1% but beat Wall Street's estimates by 1%. Looking ahead, sell-side analysts expect revenue to grow 13.1% over the next 12 months, an improvement versus the last two years. This projection is healthy and implies its newer products and services will catalyze better top-line performance. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Operating Margin Operating margin is an important measure of profitability as it shows the portion of revenue left after accounting for all core expenses – everything from the cost of goods sold to advertising and wages. It's also useful for comparing profitability across companies with different levels of debt and tax rates because it excludes interest and taxes. IMAX was profitable over the last five years but held back by its large cost base. Its average operating margin of 5.8% was weak for a business services business. On the plus side, IMAX's operating margin rose by 47 percentage points over the last five years, as its sales growth gave it immense operating leverage. This quarter, IMAX generated an operating margin profit margin of 15.6%, up 12.4 percentage points year on year. This increase was a welcome development and shows it was more efficient. Earnings Per Share Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. IMAX's full-year EPS flipped from negative to positive over the last five years. This is a good sign and shows it's at an inflection point. Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business. IMAX's EPS grew at an astounding 34.3% compounded annual growth rate over the last two years, higher than its 1.5% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded. We can take a deeper look into IMAX's earnings quality to better understand the drivers of its performance. IMAX's operating margin has expanded by 1.1 percentage points over the last two years. This was the most relevant factor (aside from the revenue impact) behind its higher earnings; interest expenses and taxes can also affect EPS but don't tell us as much about a company's fundamentals. In Q2, IMAX reported EPS at $0.26, up from $0.18 in the same quarter last year. This print easily cleared analysts' estimates, and shareholders should be content with the results. Over the next 12 months, Wall Street expects IMAX's full-year EPS of $1.01 to grow 27.3%. Key Takeaways from IMAX's Q2 Results We were impressed by how significantly IMAX blew past analysts' EPS expectations this quarter. We were also happy its revenue narrowly outperformed Wall Street's estimates. Zooming out, we think this was a good print with some key areas of upside. The stock traded up 1.4% to $29.45 immediately following the results. Sure, IMAX had a solid quarter, but if we look at the bigger picture, is this stock a buy? When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
16-07-2025
- Business
- Business Wire
HOYTS Cinemas and IMAX Relaunch Partnership with Up to Five New IMAX With Laser Locations Across Australia
SYDNEY & NEW YORK--(BUSINESS WIRE)--IMAX Corporation (NYSE: IMAX) and HOYTS Cinemas, one of Australia's leading cinema chains, today announced a new agreement for up to five state-of-the-art IMAX® with Laser systems throughout Australia. The deal reignites the partnership between the two companies, which have not operated an IMAX location together since 2019. The first new IMAX location is slated to open in Melbourne later in 2025, in advance of the release of 'Avatar: Fire and Ash'. Up to an additional four locations will be identified for future expansion. 'As the pioneer of IMAX screens in multiplex cinema in Australia, HOYTS is delighted to partner with IMAX again. Our foundation site at Melbourne Central will be open for 'Avatar: Fire and Ash,' with more sites to be announced shortly,' said Damien Keogh, CEO and President of HOYTS Group. 'Every one of our cinemas has touch points that elevate them from a usual experience: from the quality of our recliners, through to state-of-the-art technical enhancements. The opportunity to see things on IMAX is really going to enhance HOYTS' reputation as the premier destination for film experiences.' 'Australia continues to be a priority for IMAX, and this agreement with HOYTS Cinemas to expand and diversify our footprint is just the latest sign of our strong momentum in this thriving moviegoing market,' said Rich Gelfond, CEO of IMAX. 'HOYTS is an exceptional, well-established exhibitor in Australia and New Zealand, and we're looking forward to getting back in business with the company to further satisfy surging demand for the IMAX Experience.' IMAX has seen unprecedented growth in Australia, driven by strong box office performance and exceptional moviegoer demand. The company's footprint in Australia has grown from just one location in 2022 to four currently in operation and another ten set to open in the next several years. Australia currently ranks as the tenth market overall for IMAX box office — a stellar result from just four locations in the country and ranking behind powerhouse IMAX markets like the U.S., China, Japan and the UK. Last year, IMAX notched its highest grossing year since 2015 in Australia, and the country was the top market overall by per-screen-average (PSA) for IMAX, with an average of nearly $4.5 million per screen. The deal comes as IMAX continues a hot streak of Filmed for IMAX titles – in Australia, IMAX delivered nearly 6% of last weekend's debut of 'Superman,' despite only having four locations in the country. Earlier this summer, 'Mission: Impossible – The Final Reckoning' was among the top opening weekends ever for IMAX in Australia, delivering over $400K in box office. Overall, IMAX indexing in Australia has grown dramatically, going from 2.6% of the overall box office in 2024 to 4.4% in 2025 to date, with several Filmed for IMAX titles to go including next week's debut of Disney/Marvel's 'The Fantastic Four: First Steps.' The new HOYTS IMAX locations will be equipped with IMAX with Laser, IMAX's most advanced cinema experience. Developed from the ground up for maximum immersion, IMAX with Laser delivers crystal-clear 4K images, precision audio, and state-of-the-art projection technology, setting a new standard for moviegoing. The system features a groundbreaking optical engine, custom-designed lenses, and proprietary IMAX technology that delivers brighter images, deeper contrast, and the widest range of colors exclusively to IMAX screens. About HOYTS Since opening the doors of its first cinema in 1909, HOYTS has gone on to become one of the world's leading entertainment companies, with more than 500 screens and over 60,000 seats across the network. Today, HOYTS is the largest single-brand movie exhibitor in Australia and New Zealand. 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 is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of March 31, 2025, there were 1,810 IMAX systems (1,738 commercial multiplexes, 11 commercial destinations, 61 institutional) operating in 89 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 IMAX Corporation or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. For more information, visit You may also connect with IMAX on Instagram ( Facebook ( LinkedIn ( X ( and YouTube (
Yahoo
16-07-2025
- Entertainment
- Yahoo
‘The Odyssey': Tickets For Christopher Nolan's Homer Epic On Sale This Week
In one of the worst kept secrets since Woody Allen played Michael's Pub, Imax 70MM showtime tickets to Christopher Nolan's The Oydssey are expected to go on sale Thursday, a whole year before the Universal movie opens. Sources at Imax, Universal and other circuits are mum about this, as if Matt Damon's Odysseus character will slay them for making a peep. More from Deadline Everything We Know About Christopher Nolan's Next Film – 'The Odyssey': Release Date, Cast And More 'The Odyssey' Is First Film Shot Entirely With Imax Film Cameras: How CEO Rich Gelfond Met Christopher Nolan's Challenge Tom Holland Says Working On Christopher Nolan's 'The Odyssey' Was "The Job Of A Lifetime" This is a first that a studio would put a movie's tickets on sale a year in advance. Typically advance ticket sales dates are strategic, i.e., there's generally a two-month lead for a highly anticipated movie like a Star Wars: Force Awakens, and a short lead for movies that are expected to tank, or be semi-controversial, ala Disney's Snow White (11 days before its March 21 release). The thinking behind this is there's a rabid appetite out there for the movie from Nolan's 70MM fans and these showtimes will sell out. Remember, with Nolan's multi-Oscar winner Oppenheimer, people were going to see that movie at midnight and 6 a.m. showtimes in Imax and 70MM given sellouts at normal primetimes. Nolan's Oppenheimer grossed $191 million at the global box office in Imax, repping 20% of its $975M global haul. Meanwhile, 30 Imax 70MM locations grossed $28.8M worldwide. Nolan is shooting The Odyssey entirely with Imax film cameras (not digital). He's been a champ of the large format exhibitor since 2008's The Dark Knight for action scenes, as well as 2010's Inception, 2014's Interstellar and 2020's Tenet. I hear that Odyssey tickets will be on sale for a limited time. This is Nolan's feature take of the classic Homer Greek epic poem about the Ithaca king's journey home following the Trojan War. Tom Holland plays Odysseus' son Telemachus. The movie also stars Anne Hathaway, Zendaya, Lupita Nyong'o, Robert Pattinson, Charlize Theron and Jon Bernthal. Best of Deadline Everything We Know About Amazon's 'Verity' Movie So Far 'Street Fighter' Cast: Who's Who In The Live-Action Arcade Film Adaption 2025-26 Awards Season Calendar: Dates For Emmys, Oscars, Grammys & More
Business Wire
15-07-2025
- Business
- Business Wire
IMAX Announces Renewal and Expansion of Credit Facility to $375 Million
NEW YORK--(BUSINESS WIRE)--IMAX Corporation (NYSE: IMAX) today announced it has renewed and expanded its senior secured revolving credit facility, increasing the Company's borrowing capacity from $300 million to $375 million with an uncommitted accordion feature allowing the Company to further expand its borrowing capacity to $515 million or greater. The new facility, which matures in 2030, was arranged in partnership with a syndicate of seven lenders, with Wells Fargo Securities, LLC as the sole lead arranger. The renewed facility replaces the Company's prior credit agreement and includes a reduction in borrowing costs, reflecting improved market conditions and the Company's strong financial position. The facility is designed to provide IMAX with increased financial flexibility to support ongoing operational needs, network expansion, the refinancing of existing debt and other general corporate purposes. "The renewal of our credit facility reflects the strong, continued confidence in IMAX's business model, strategic position, and long-term growth trajectory," said Rich Gelfond, CEO of IMAX. "As we expand our network and content portfolio, this facility provides us with additional flexibility in executing our priorities and optimizing our capital structure. The enhanced scale and efficiency of the facility, combined with recurring cash generated by our global network, positions the Company to further capitalize on our momentum to deliver value for shareholders." 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 is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of March 31, 2025, there were 1,810 IMAX systems (1,738 commercial multiplexes, 11 commercial destinations, 61 institutional) operating in 89 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 IMAX Corporation or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. For more information, visit You may also connect with IMAX on Instagram ( Facebook ( LinkedIn ( X ( and YouTube (
