NYSE$IMAX

IMAX Corp · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Global Box Office, Revenue, and Gross Margin reached strongest levels since 2019, with net loss significantly reduced.

IMAX Corporation reported strong Q3 2021 results, marking a turning point with increased global box office, revenue, and gross margin since 2019. The company saw a significant reduction in net loss and improvement in adjusted EBITDA, driven by pent-up consumer demand and a strong slate of blockbuster films.

  • IMAX achieved its highest grossing month of October and delivered September grosses above 2019 levels.
  • Global Box Office reached $142 million, a 100% year-over-year increase.
  • The company delivered its strongest Global Box Office, Revenue, and Gross Margin since 2019.
  • IMAX is well-positioned to benefit from the continued evolution of the theatrical marketplace.

Headline financials

Total Revenue

$56.6M

Previous: $37.3M+51.9%
EPS (adj)

-$0.08

Previous: -$0.75+89.3%
Capital Expenditures

-$2.35M

Previous: -$658K-257.6%
Free Cash Flow

-$10.7M

Previous: -$47.9M+77.6%
Net Income

-$8.38M

Previous: -$47.2M+82.3%
Operating Income

-$853K

Previous: -$27.4M+96.9%
Gross Profit

$27.5M

Previous: $3.83M+617.9%
Cash & Equivalents

$193M

Previous: $305M-36.8%
Total Assets

$871M

Previous: $1.01B-13.5%
Stock-Based Comp

$6.1M

No prior period

Revenue & EPS history

IMAX · Revenue · Quarterly

$56.6M

Q3 2021+51.9%vs Q3 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

IMAX · $100M total across 2 segments · Q3 2023

  • Technology Products
    $56.2M
  • Content Solutions
    $44.2M

Forward guidance

IMAX anticipates an accelerating pipeline of blockbusters for exclusive theatrical release, expecting to build consumer momentum worldwide through Q4 2021 and 2022.

Tailwinds

  • Continued rebound in domestic and international blockbuster moviegoing.
  • Solid operating momentum.
  • Strong market share.
  • Multiple tentpole films set to be released in the remainder of Q4 and 2022.
  • Well positioned to deliver and strengthen position as one of the world's premier entertainment experience.

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 Q3 2021

Historical avgQ3 2021

+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

Earnings price reactions
QuarterReport dateReaction (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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