NYSE$IMAX
IMAX Corp · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
IMAX reported strong Q1 2023 financial results, demonstrating the value of its global entertainment technology platform and content portfolio.
IMAX reported a strong start to 2023, with growth in system sales and global box office soaring to an all-time record in the first quarter. The company is confident in driving significant growth in global box office, system signings, installations, and adjusted EBITDA in 2023.
- Global entertainment technology platform drives strong year-over-year growth across all key metrics, including Revenue (+45%), Gross Margin (+58%) and Adjusted EBITDA (+84%).
- System sales climb to 63 signings year-to-date through April — significantly more than the Company delivered in all of 2022 (47)
- Strong global box office performance of $273 million highlighted by multiple IMAX records, including highest grossing Q1 ever and greatest Q1 global market share ever.
- Dramatic improvement in Q1 cash flow, with cash from operations of $21.2 million versus ($3.8) million use of cash in Q1 2022
Headline financials
Revenue & EPS history
IMAX · Revenue · Quarterly
$86.9M
Revenue by segment
IMAX · $83.8M total across 2 segments · Q1 2023
- Technology Products$51.7M—61.7%
- Content Solutions$32.1M—38.3%
Forward guidance
IMAX expects to drive significant growth in 2023 across global box office, system signings, installations, and adjusted EBITDA. The rapid acceleration of sales activity is a positive indicator for long-term growth.
Tailwinds
- Very strong summer slate of blockbuster movies.
- Robust sales activity for new and upgraded systems.
- Busiest period of the year for installations ahead.
- Substantial opportunity to drive further growth in business and results.
- Acceleration of sales activity is a very positive indicator for long-term growth.
Headwinds
- Risks related to the adverse impact of the COVID-19 pandemic.
- Risks associated with investments and operations in foreign jurisdictions and any future international expansion, including those related to economic, political and regulatory policies of local governments and laws and policies of the United States and Canada, as well as geopolitical conflicts, such as the conflict between Russia and Ukraine.
- Risks related to the Company’s growth and operations in China.
- The performance of IMAX DMR® films and other films released to the IMAX network.
- Conditions, changes and developments in the commercial exhibition industry
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+1.2%
Avg return
Earnings day
+1.3%
Avg return
5 days after
+1.6%
Avg return
30 days after
52%
34 / 65 earnings
Positive
+18.6%
Q3 2017
Best reaction
-22.4%
Q2 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.1% | -4.0% | +6.1% | |
| Q4 2025 | +14.7% | +12.8% | +0.1% | |
| Q3 2025 | +1.0% | +2.2% | +12.4% | |
| Q1 2025 | -3.3% | +1.2% | +11.9% | |
| Q4 2024 | -1.1% | -3.0% | -1.7% | |
| Q3 2024 | +15.7% | +15.2% | +25.3% | |
| Q2 2024 | +12.7% | +15.8% | +19.9% | |
| Q1 2024 | -2.9% | -9.3% | -4.3% | |
| Q4 2023 | +12.0% | +7.7% | +3.3% | |
| Q3 2023 | -0.3% | -0.4% | -9.1% | |
| Q2 2023 | +11.5% | +8.9% | +10.4% | |
| Q1 2023 | +8.0% | +4.6% | -11.3% | |
| Q4 2022 | +9.1% | +8.9% | +7.6% | |
| Q3 2022 | -5.9% | -2.4% | +24.8% | |
| Q2 2022 | -2.3% | -2.5% | -8.9% | |
| Q1 2022 | +4.9% | +9.4% | +15.3% | |
| Q4 2021 | +7.0% | +4.7% | -1.5% | |
| Q3 2021 | -8.9% | -4.7% | -17.0% | |
| Q2 2021 | -5.6% | -7.6% | -11.6% | |
| Q1 2021 | -7.0% | -4.5% | -2.6% | |
| Q4 2020 | +13.5% | +6.9% | -3.2% | |
| Q3 2020 | -2.2% | -1.2% | +31.3% | |
| Q2 2020 | -11.2% | -10.7% | +22.3% | |
| Q1 2020 | -7.8% | -7.8% | +0.2% | |
| Q4 2019 | +0.6% | -3.0% | -38.1% | |
| Q3 2019 | +3.1% | +3.3% | +2.5% | |
| Q2 2019 | +2.1% | +0.0% | -2.0% | |
| Q1 2019 | -3.4% | -2.5% | -11.7% | |
| Q4 2018 | +9.0% | +10.5% | +9.1% | |
| Q3 2018 | -4.9% | -5.8% | -10.1% | |
| Q2 2018 | -1.6% | -5.8% | +8.6% | |
| Q1 2018 | -2.6% | -1.9% | -9.9% | |
| Q4 2017 | -10.8% | -11.4% | -18.8% | |
| Q3 2017 | +18.6% | +15.5% | +17.9% | |
| Q2 2017 | -2.8% | -1.4% | -13.4% | |
| Q1 2017 | -0.9% | -3.3% | -15.8% | |
| Q4 2016 | +6.5% | +5.2% | +10.4% | |
| Q3 2016 | +2.6% | +1.1% | +13.3% | |
| Q2 2016 | +14.3% | +9.9% | -0.4% | |
| Q1 2016 | -1.3% | — | — | |
| Q4 2015 | -9.2% | — | — | |
| Q3 2015 | +0.8% | — | — | |
| Q2 2015 | -3.9% | — | — | |
| Q1 2015 | +0.8% | — | — | |
| Q4 2014 | +6.9% | — | — | |
| Q3 2014 | +3.2% | — | — | |
| Q2 2014 | +7.2% | — | — | |
| Q1 2014 | -8.0% | — | — | |
| Q4 2013 | +2.3% | — | — | |
| Q3 2013 | +4.5% | — | — | |
| Q2 2013 | +2.7% | — | — | |
| Q1 2013 | -5.3% | — | — | |
| Q4 2012 | +3.3% | — | — | |
| Q3 2012 | +3.1% | — | — | |
| Q2 2012 | -3.3% | — | — | |
| Q1 2012 | -2.8% | — | — | |
| Q4 2011 | -1.4% | — | — | |
| Q4 2009 | -1.4% | — | — | |
| Q3 2011 | +16.9% | — | — | |
| Q3 2010 | +16.9% | — | — | |
| Q2 2011 | -22.4% | — | — | |
| Q2 2010 | -22.4% | — | — | |
| Q4 2010 | +8.6% | — | — | |
| Q1 2011 | +8.6% | — | — | |
| Q1 2010 | -6.5% | — | — |
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