Imax unveiled its first quarter financial results on Thursday, with overall revenues and net income slipping after the film technologies company posted record 2025 global box office last year with Chinese title Ne Zha 2 and a stronger worldwide theater network expansion.
Overall revenue for the three months to March 31, 2026 at the cinema technologies company came to $81.4 million, down from a year-earlier $86.7 million, due to decreased revenue in China. Imax posted net income at $6.1 million, against $8.2 million in the same period of 2025.
The adjusted net income per share in Q1 was 17 cents, compared to 13 cents in the same year-ago period. Imax continues to navigate a post-pandemic box office rebound for the Hollywood studios, the company’s main movie suppliers, by offering in-demand premium screen for major exhibitors and movies shot with proprietary Imax cameras.
Technology Products and Services revenues, or the proceeds from the sale, lease and maintenance of Imax’s theater systems network, fell 4 percent to $48.3 million, against a year-earlier $50.6 million. During the latest quarter, Imax installed 19 theater systems, compared to 21 theater systems, in the same period of last year.
Content Solutions revenues — or business from agreements with the major studios and filmmakers — landed at $31.4 million, a drop of 8 percent from a year-earlier $34.2 million. That was caused in part by lower box office revenue in China after a record Chinese New Year in 2025.
Imax CFO Natasha Fernandes, during an after market analyst call, forecast box office in China in 2026 would be “more evenly spread throughout the year,” compared to last year when the Chinese title Ne Zha 2 dominated the first quarter period. She added upcoming Hollywood titles like Christopher Nolan’s Odyssey and Dune 3 are expected to perform well in China alongside local language titles in a more balanced release slate this year.
Top Imax releases during the first quarter included Avatar: Fire and Ash, Project Hail Mary, Pegasus 3 and Scream 7. The first quarter global box office fell by 13 percent year-on-year to $260 million.
Imax has forecast a record $1.4 billion in global box office and 160 to 175 theater system installations for full-year 2026. During the analyst call, Imax CEO Richard Gelfond gave a health update after taking a temporary medical leave to undergo treatment for pneumonia.
“I’m happy to share that I’m making excellent progress, and I’m gradually resuming oversight of the business and am involved in all key strategic decisions,” Gelfond said before handing the call over to CFO Fernandes.
The Imax finance chief was asked about any impact so far from the U.S./Israel conflict with Iran on the film technologies business, which has around 35 giant screens in the Middle East region. “We haven’t experienced anything significant that will impact our plans for the year,” Fernandes reported.
She was also asked to comment on Walt Disney unveiling Infinity Vision, a new certification for premium large format (PLF) theaters, starting with the September re-release of Marvel Studios’ Avengers: Endgame, followed by the December release of Marvel Studios’ Avengers: Doomsday, while Imax locked up Dune 3 for an exclusive three week run in a major holiday showdown.
“From our view, we feel it’s a marketing play to try and offset the fact that they don’t have an Imax platform or brand for Avengers: Doomsday,” Fernandes argued. She added Marvel fans are “among the savvy and most discerning moviegoers out there. And there’s a reason why we’re the undisputed leader in premium cinema worldwide.”
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