The revenue miss on a tough China comp is largely discounted given the strong slate ahead (The Odyssey, Dune Part Three). The adjusted EPS beat and reaffirmed full-year guidance should support the stock near term. Watch for Q2 box office momentum from these tentpole releases as the key catalyst.
Price Chart
Executive Summary
IMAX reported Q1 2026 results with total revenue of $81.4M, down 6% YoY, and GAAP diluted EPS of $0.07, up 75% YoY. The headline revenue decline was driven by a tough comp against the record Chinese New Year box office in Q1 2025, but adjusted EPS of $0.17 beat the $0.15 consensus and the company reaffirmed its full-year 2026 guidance for $1.4B in global box office.
Key Financial Metrics
Key Facts
- Q1 2026 total revenue of $81.4M, down 6% YoY from $86.7M
- GAAP diluted EPS of $0.07, up 75% YoY from $0.04
- Adjusted diluted EPS of $0.17, up 31% YoY from $0.13
- Net income attributable to common shareholders of $4.2M, up 83% YoY from $2.3M
- Global box office of $260M, down 13% YoY due to China weakness
- Reaffirmed 2026 full-year guidance of $1.4B in global box office
- Content Solutions revenue down 8% YoY; Technology Products & Services revenue down 4% YoY
- Operating cash flow of $4M vs $7M in prior year period
- 42 system signings across 10 countries YTD, including largest Australia agreement
Financial Impact
Revenue declined 6% YoY to $81.4M, but adjusted EPS of $0.17 beat consensus of $0.15 by 13.3%
Risk Factors
- Greater China box office weakness may persist if local language titles shift further into 2026
- CEO medical leave introduces leadership uncertainty despite gradual return
- Gross margin contracted 510 bps YoY to 56.3%, signaling cost pressure
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-028907 |
| Document: imax-20260430.htm | 0001628280-26-028907 |
| Document: 0001628280-26-028907-index-headers.html | 0001628280-26-028907 |
| Document: 0001628280-26-028907-index.html | 0001628280-26-028907 |
| Document: 0001628280-26-028907.txt | 0001628280-26-028907 |
| 8-K Data (Synthetic) | 0001628280-26-028907 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 5w ago | Insider Cluster | $52.76 $55.16 | ▼ −4.55% | ▼ −4.32% | $52.52 (+0.45%) |
Aug 21, 2026 6w ago | Insider Cluster | $52.74 $54.04 | ▲ +2.46% | ▲ +2.99% | $52.52 (−0.42%) |
Apr 30, 2026 22w ago | 8-K | $36.51 $40.49 | ▲ +10.90% | ▲ +5.62% | $52.52 (+43.85%) |
Apr 17, 2026 24w ago | 8-K | $35.95 $34.25 | ▼ −4.73% | ▼ −8.93% | $52.52 (+46.09%) |
Mar 10, 2026 29w ago | Insider Cluster | $39.71 $38.20 | ▲ +3.80% | ▲ +3.65% | $52.52 (−32.26%) |
Feb 25, 2026 31w ago | 8-K | $41.77 $37.75 | ▼ −9.62% | ▼ −3.22% | $52.52 (+25.74%) |
US Market Status
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