IMAX Corporation reported a notable increase in financial performance for the second quarter of 2025, with total revenues reaching $91.7 million, a 3% rise from $89.0 million in the same period last year. The company's net income attributable to common shareholders surged to $11.3 million, or $0.20 per diluted share, compared to $3.6 million, or $0.07 per diluted share, in the prior year. For the first half of 2025, revenues totaled $178.4 million, up 6% from $168.1 million in 2024, while net income attributable to common shareholders increased to $13.6 million, or $0.25 per diluted share, from $6.9 million, or $0.13 per diluted share.
The company experienced significant operational changes, including a 24% increase in box office revenue, which reached $579.2 million for the first half of 2025, driven by a strong film slate and the performance of local language films. IMAX's global network expanded to 1,821 systems across 89 countries, with 1,750 located in commercial multiplexes. The company also reported a backlog of 501 IMAX systems, indicating strong future growth potential. The number of installations increased, with 36 systems installed in the second quarter, compared to 24 in the same period last year.
Strategically, IMAX has focused on enhancing its technology offerings, including the introduction of IMAX Laser Systems, which provide superior image quality. The company is also leveraging artificial intelligence for various operational improvements. Additionally, IMAX announced a $100 million increase in its share repurchase program, bringing the total authorization to $500 million, with $250.7 million remaining available for repurchases as of June 30, 2025.
The company’s financial health is reflected in its cash and cash equivalents, which rose to $109.3 million from $100.6 million at the end of 2024. IMAX's total liabilities increased to $463.5 million, up from $452.2 million, primarily due to higher borrowings under its revolving credit facility. The company remains committed to maintaining a strong balance sheet while investing in growth opportunities, particularly in international markets where it sees significant potential for expansion.
Looking ahead, IMAX anticipates continued growth driven by a robust film slate and strategic initiatives aimed at enhancing operational efficiency. The company is optimistic about its ability to convert its backlog into revenue and cash flows, despite potential risks associated with global economic conditions and trade policies.
About IMAX CORP
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