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Dec 31, 2022
IMAX Q4 2022 Earnings Report
IMAX reported solid Q4 2022 financial results, demonstrating the value of its unique global entertainment technology platform and content portfolio.
Key Takeaways
IMAX Corporation reported a decrease in revenue for the fourth quarter of 2022, with a total revenue of $98.0 million compared to $108.6 million in the same period of 2021. Net income also decreased to $2.6 million from $10.1 million year-over-year. However, the company expects to return to pre-pandemic levels of performance in 2023, driven by the success of 'Avatar: The Way of Water' and the reopening of China.
IMAX expects return to pre-pandemic gross box office level of $1.1 billion in 2023 as year begins with strong reopening of China and record-breaking performance of “Avatar: The Way of Water” of approximately $250 million in global box office.
IMAX drives record-breaking Chinese New Year box office of $61.3 million in 2023, led by “The Wandering Earth 2” — now the highest grossing Chinese film of all time in IMAX
IMAX global entertainment technology platform drives full-year 2022 growth of more than 15% across Revenue, Gross Margin and Adjusted EBITDA
IMAX gross global box office increased 33% year over year to $850 million leading to record share of both global (3.3%) and domestic (4.8%) gross box office in 2022
Forward Guidance
IMAX expects return to pre-pandemic gross box office level of $1.1 billion in 2023 as year begins with strong reopening of China and record-breaking performance of “Avatar: The Way of Water” of approximately $250 million in global box office
Historical Earnings Impact
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Avg. Return Before/After Earnings
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