Shares of IMAX (IMAX +11.88%) rose sharply on Thursday after the cinema technology pioneer's earnings crushed Wall Street's estimates.
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Blockbuster results
IMAX's revenue climbed 12% year over year to $103 million in the second quarter.
The entertainment tech provider is enjoying worldwide acclaim for its film cameras, immersive theater experiences, and the blockbusters they help create.
Christopher Nolan's The Odyssey has fans flocking to theaters. The first full-length movie filmed entirely with IMAX's cameras generated a record-breaking $52 million opening weekend.
CEO Rich Gelfond said the film is "emerging as a transformational event for IMAX, as the purest and most complete expression yet of the power of our global platform."
NYSE: IMAX
Key Data Points
The remarkable success of The Odyssey is likely to accelerate deployments of IMAX premium theater systems around the world. The company installed 38 systems during the second quarter -- its fasted Q2 pace in a decade -- bringing its total to 1,809 locations as of June 30. IMAX ended the quarter with a backlog of 421 systems.
Better still, IMAX is growing more profitable as it scales its installed base. The company's adjusted earnings surged 65% to $0.43 per share. That was well above Wall Street's projections, which had called for per-share profits of $0.27.
2026 is set to be a good year for moviegoers
The record-breaking box office performance of The Odyssey bodes well for IMAX's full-year sales and profits. The second half of 2026 will showcase a slate of potential blockbusters, including Dune: Part Three, which will also feature IMAX's camera and film technology.
"While The Odyssey is an extraordinary achievement, it doesn't sit in isolation," Gelfond said during a conference call with analysts. "It both accelerates and illuminates the historically strong momentum we've been building at IMAX and offers a preview of where this company is headed."
