Core Points - IMAX Corporation will participate in the 9th Annual Wells Fargo TMT Summit on November 18, featuring a fireside chat with CFO Natasha Fernandes [1] - A live webcast of the fireside chat will be available on the IMAX investor relations website [2] Company Overview - IMAX is an innovator in entertainment technology, utilizing proprietary software, architecture, and equipment to enhance cinematic experiences [3] - As of September 30, 2025, IMAX operates 1,829 systems across 89 countries, including 1,759 commercial multiplexes and 60 institutional locations [4]

Core Insights - IMAX Corporation and Cinemark Holdings Inc. have entered into an agreement to enhance the Cinemark network with new IMAX systems [1] Group 1: Agreement Details - The agreement includes the installation of four new IMAX with Laser systems in the United States [1] - Cinemark will also explore the addition of one more IMAX location in South America [1] - Twelve existing systems will be upgraded to IMAX with Laser technology [1]

Financial Data and Key Metrics Changes - AMC's revenue in Q4 2024 increased by 18% year-over-year, reaching a post-pandemic record of $1.3 billion [9][26] - Adjusted EBITDA for Q4 2024 was $164.8 million, more than triple the adjusted EBITDA reported for Q4 2023, reflecting a 240% increase [10][30] - The company generated over $200 million in cash from operating activities and $114 million in free cash flow in Q4 2024, marking the highest quarterly cash flow post-pandemic [11][31] Business Line Data and Key Metrics Changes - Attendance reached over 62 million guests in Q4 2024, a 20% increase compared to Q4 2023, setting a post-pandemic record [12][25] - Food and beverage revenue per patron reached an all-time fourth quarter record of $7.15, while admissions revenue per patron was $11.56, the second highest for Q4 [25][26] - For the full year 2024, AMC achieved all-time records for admissions revenue per patron, food and beverage revenue per patron, and total revenue per patron [13] Market Data and Key Metrics Changes - The domestic industry box office increased from $3.6 billion in the first half of 2024 to $5.1 billion in the second half, indicating a significant recovery in the market [15][16] - The overall box office for 2024 was flat compared to 2023, primarily due to the impact of strikes in the first half of the year [20][121] Company Strategy and Development Direction - AMC's "GO Plan" aims to leverage strengths and accelerate recovery by enhancing guest experiences and increasing attendance [41][42] - The company plans to invest in premium experiences, including upgrading IMAX auditoriums and adding more Dolby Cinema screens [43][44] - AMC is focused on strengthening its balance sheet while pursuing growth initiatives to enhance financial returns [56][68] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2025, projecting a potential increase in the number of wide-release films by approximately 17% compared to 2024 [19] - The company believes that the box office will grow significantly in 2025 and 2026, with expectations of $0.5 billion to $1 billion growth compared to 2024 [22][124] - Management acknowledged the challenges faced by the industry, including a 40% decline in attendance compared to pre-pandemic levels, but highlighted improvements in profit per patron [61][63] Other Important Information - AMC successfully sold approximately $65 million in movie-themed merchandise in 2024, with a profit margin around 50% [88] - The company has expanded its popcorn sales significantly, doubling sales in 2024 compared to 2023 and increasing distribution to 11,000 retail stores [102][105] Q&A Session Summary Question: Regarding the AMC GO Plan and CapEx - Management indicated that CapEx will remain around $200 million until access to growth capital is secured, with future increases flagged in advance [73][75] Question: Thoughts on streaming and theatrical releases - Management noted that some streaming services are embracing theatrical releases, which could benefit both industries, and highlighted ongoing discussions with major studios about release windows [78][114] Question: Update on merchandise and collectible items - Management reported strong sales in movie-themed merchandise and plans to increase inventory to meet demand [88][93] Question: Opportunities for negotiating longer windows for theatrical releases - Management expressed hope for longer release windows, believing it would benefit both theaters and studios financially [109][115] Question: When might the industry reach a steady state closer to pre-pandemic levels? - Management projected that the box office will grow significantly in 2025 and 2026, with expectations of blockbuster films driving attendance [124]