Imax has reported a positive trend in its global box office performance during the first quarter, with Dune: Part Two contributing significantly to its success. The film has generated over $143 million in global box office revenue, accounting for 21 percent of its total gross. Despite an overall revenue decrease to $79.1 million from $86.9 million compared to the previous year, Imax saw a rise in net income to $3.3 million, up from $2.5 million in the same period last year.
The company's adjusted net profit per share for the quarter was 15 cents, slightly lower than the 16 cents per share reported in the year-ago period. Imax's Content Solutions revenue, derived from agreements with major studios and filmmakers, increased by 6 percent year-over-year to $34 million, driven by global box office growth.
On the other hand, Technology Products and Services revenues, which include sales, leases, and maintenance of Imax theater systems, declined by 16 percent to $43.1 million. The company's global box office earnings for the quarter reached $261 million, marking its third-highest-grossing first quarter ever.
Imax also saw success in local-language box office earnings, totaling $55 million, with Queen Rock Montreal achieving over $5.5 million and securing the biggest opening weekend for an Imax exclusive event release. Imax CEO Richard Gelfond highlighted the company's momentum, attributing it to the strategic expansion of the Imax value proposition.
Gelfond emphasized that Imax's technology is increasingly influencing content creation, in addition to content delivery. Major films like Oppenheimer, Dune – Part Two, and Godzilla x Kong, shot with Imax cameras for the Imax platform, have contributed to the company's global box office success. Gelfond stated that this trend makes Imax systems a 'must-have' for global exhibitors.
