Thanks to a mix of superhero films in the U.S. and new franchise offerings abroad, Imax set a new company box office record of $368 million in the third quarter and posted revenue of $106.7 million.
That equates to earnings of $0.47 per share, slightly below Wall Street consensus projections of $110 million in revenue but a beat on the projection of 30 cents per share. In the year-earlier period, revenue came in at $91.5 million, or 35 cents per share.
“Imax is moving into a new position — building to something bigger — and our performance for the quarter and year to date demonstrate we’re breaking out and delivering at a higher level,” said Rich Gelfond, CEO of Imax. “We strategically programmed our network to deliver our best third quarter in history and emphatically demonstrated our differentiation. While Domestic box office declined 11%, Imax box office grew significantly over the same period – up 29% in the domestic market and 50% globally.”
At the box office, Imax grossed $368 million in the period, the highest ever recorded for a third quarter. While superhero films like “Superman” and “The Fantastic Four: First Steps” helped drive Imax revenue in the U.S., the biggest contributors were Warner Bros./Apple’s “F1” — Imax’s highest grossing Hollywood release to date — and Sony/Crunchyroll/Toho’s “Demon Slayer: Infinity Castle,” with both films grossing more than $60 million each from global Imax screenings.
The numbers for both films show how audience tastes in blockbusters, particularly in Asia, are rapidly changing, making Imax’s ongoing focus on expanding its local language offerings all the more crucial. So far this year, Imax’s annual box office total from local language films stands at a record $343 million, 40% ahead of the company record for that category.
To that end, Imax has also continued its installation of new auditoriums, pacing towards the high end of its 2025 guidance with the addition of 150 to 160 new theaters to its global network in the third quarter with signings for 142 more auditoriums. The company also reports it is on pace to meet its projections for an annual record $1.2 billion global box office total in 2025.
Imax stock has risen 36% over the past six months and jumped 3% in after-hours trading on Wednesday to $32.95/share.