Core Insights - IMAX Corporation reported second-quarter 2025 adjusted earnings of 26 cents per share, exceeding the Zacks Consensus Estimate by 36.84% and reflecting a year-over-year increase of 44.4% [2][10] - Total revenues reached $91.7 million, surpassing the Zacks Consensus Estimate by 0.62% and showing a 3.1% year-over-year growth [2][10] Revenue Breakdown - Image Enhancement & Maintenance Services and Technology Sales saw declines of 2.6% and 7.7% year over year, totaling $50.8 million and $18.8 million, respectively [3] - Technology Rentals and Finance Income increased significantly by 36.1% and 24.4%, reaching $19.1 million and $2.8 million, respectively [3] - Content Solutions revenues decreased by 0.7% year over year to $33.9 million [3] - Technology Products and Services revenues rose by 9.3% year over year to $55.6 million [4] Box Office Performance - The second-quarter box office, including booking fees in China, totaled $281 million, marking a 40.5% year-over-year increase, driven by a record number of films released in IMAX format [6] Operating Metrics - Gross margin expanded by 910 basis points to 58.5%, with adjusted EBITDA increasing by 36.6% year over year [10][11] - Selling, general & administrative expenses decreased by 6% year over year to $35.3 million, while research & development expenses fell by 24.1% to $1.54 million [12] Network Growth - IMAX installed 36 systems in Q2 2025, compared to 24 systems in Q2 2024, bringing the total to 1,821 IMAX Systems operating in 89 countries and territories [8] - The company estimates a worldwide commercial multiplex addressable market of 3,619 locations, with a current market penetration of 48% [9] Financial Position - As of June 30, 2025, IMAX had available liquidity of $416 million, including $109 million in cash and cash equivalents [14] - Total debt, excluding deferred financing costs, was $280 million [14] Future Guidance - IMAX anticipates a record box office of over $1.2 billion in 2025, with an adjusted EBITDA margin exceeding 40% and plans to install 150 to 160 systems [17]