IMAX revenue jumps 64% as The Odyssey breaks records

IMAX has reported the strongest quarterly financial results in its history, with revenue climbing 64% to AU$258 million as Christopher Nolan’s The Odyssey propelled the company to record global box office takings.

The cinema technology company generated US$712 million in global box office during the three months to September 30, 2026, up 94% year-on-year. It accounted for 6.7% of the industry’s worldwide quarterly takings from less than 1% of screens.

The result is strengthening IMAX’s pitch to exhibitors, with agreements signed for more than 100 systems so far this year. Of those, 65% are for new locations.

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The Odyssey drives record takings

The Odyssey contributed AU$794 million to IMAX’s third-quarter box office, followed by Spider-Man: Brand New Day with AU$85 million.

Nolan’s film has since surpassed AU$811 million at the worldwide IMAX box office, becoming the company’s highest-grossing release. IMAX screenings accounted for more than 30% of the film’s global box office.

IMAX Corporation CEO Rich Gelfond said the performance demonstrated the commercial potential of films made for the format.

“Christopher Nolan’s The Odyssey is a historic cinematic achievement crafted entirely with IMAX technology, and its record-breaking success marks a new era of opportunity for our company. The record margins we generated in the quarter demonstrate the unique strength of our model, and the growing value of scarce events and experiences in an increasingly A.I.-driven world underscore a powerful opportunity for our business, as we look ahead to a remarkably strong slate over the next several years.”

Profit rises, with a tax benefit in the mix

IMAX reported net income of AU$172 million and a net income margin of 67%. Gross margin increased 88% to AU$185 million.

Total adjusted EBITDA, a non-GAAP measure reported before adjustments for non-controlling interests, rose 133% to AU$178 million, representing a 69% margin.

The earnings result also included a AU$54 million benefit attributable to common shareholders from releasing a valuation allowance against certain Canadian deferred tax assets.

Revenue from Content Solutions increased 110% to AU$138 million, reflecting the record box office performance. Technology Products and Services revenue rose 28% to AU$113 million, supported by higher rental revenue tied to box office takings, alongside amendments and renewals of existing agreements.

Exhibitor demand builds

IMAX’s commercial network reached 1,820 systems as of September 30, up from 1,759 a year earlier. The company finished the quarter with a backlog of 409 systems.

It installed 32 systems during the quarter, compared with 38 in the corresponding period last year.

“Our momentum is fueling sales activity with exhibitors around the world, with our team delivering more than 100 signings for IMAX systems worldwide year-to-date - including 65% new locations and strong growth across priority Rest of World markets.”

The company pointed to strong advance sales for December’s Dune: Part Three, alongside the Chinese release of Avengers: Doomsday, as upcoming drivers.

Its 2027 slate includes Wandering Earth 3, Star Wars: Starfighter, Man of Tomorrow and Avengers: Secret Wars. The original Star Wars will also make its IMAX debut, including its first presentation in IMAX 70mm film.

The next test is whether that slate can sustain audience demand as IMAX converts its growing order book into more operating screens.