IMAX · IMAX CORP Q2 FY2026 earnings call record财报电话会记录

“All this comes on top of a quarter in which we delivered strong results, beating consensus across virtually every metric, including revenue of $103 million, up 12% year-over-year, adjusted EPS of $0.43, up 65% year-over-year, and adjusted EBITDA of $48 million at an almost 47% margin.”

“The level of fan frenzy around The Odyssey in IMAX speaks volumes.”

“Selling out screenings around the clock, 10:00 P.M., 2:00 A.M., 7:00 A.M., that level of consumer loyalty is difficult to build.”

“The double-digit growth in revenue supported strong profit incrementality, resulting in an adjusted EBITDA margin of 46.6%, up 400 basis points year-over-year, and a record Q2 adjusted EPS of $0.43, up 65% year-over-year.”

“Overall, we delivered revenues of $103 million, 12% growth over the prior year's second quarter of $92 million, and achieved a Q2 gross margin of $63 million, which grew 17% year-over-year.”

“This resulted in a 61% margin, which reflects a 270-basis-point improvement, driven by a higher number of IMAX system installations and renewals in the quarter.”

“However, our multiple drivers of revenue, combined with operating leverage, resulted in an adjusted EBITDA margin comfortably above our full-year guidance of mid-40s margin and strong EPS growth of 65% year-over-year.”

“On the profit side, content solutions delivered gross profit of $22 million, which was roughly flat year-over-year with a healthy gross margin of 63%.”

“Looking at installations, we saw strong demand by exhibitors to open IMAX locations and install 38 systems in the second quarter, compared to 36 in the year prior.”

“As of June 30th, we held $160 million in cash and $292 million in debt, with a net leverage of 0.7x.”

“Rich, it would be great if you could update on China and just the moviegoing trends in the first half and more recently, how do you see performance as being impacted by film quality or consumer trends and just kind of your near-term outlook on The Odyssey and Spider-Man.”

“Natasha, curious if you could just update us on your latest thinking around EBITDA to free cash flow conversion for the year, if any of that outlook is changing or is remaining similar.”