James Cameron’s otherworldly blockbuster “Avatar: Fire and Ash” and the Ryan Gosling-led space epic “Project Hail Mary” resulted in big business for Imax. But those visually striking tentpoles weren’t enough to boost the company’s profits and revenues, both of which were down during the first quarter of 2026.
Imax logged $81 million for the three-month period ending in March, down 6.5% from the $86.7 million reported int he same quarter a year ago. The big-screen company reported a net income of $6.2 million, down 26% from the $8.2 million delivered in Q1 in 2025. Meanwhile, adjusted earnings-per-share rose to 17 cents, up from the per-share loss of 13 cents in the same year-ago period. These earnings were enough to beat Wall Street expectations; analysts on average expected $79.9 million in Q1 revenue and adjusted earnings of 15 cents per share.
Imax’s worldwide tally stood at $260 million, down 13% year-over-year. Though a strong result, ticket sales couldn’t compare to the same point in 2025 when China’s “Ne Zha 2” was smashing box office records with $2.2 billion globally; Imax contributed $164 million of that haul. This quarter’s top-earning titles were last December’s “Avatar: Fire and Ash” and “Project Hail Mary,” as well as China’s comedy “Pegasus 3” and Paramount’s slasher sequel “Scream 7.” Amazon MGM’s “Project Hail Mary,” which was filmed with Imax cameras, has been particularly successful with $92 million worldwide, representing 18% of the film’s total box office tally.
“The breakout success of ‘Project Hail Mary’ — a Filmed For Imax release that more than doubled our initial box office projections — demonstrates what a well-crafted blockbuster can achieve when it leans fully into the Imax platform,” said Imax’s chief financial officer Natasha Fernandes. “We have several tentpoles this year from the most successful filmmakers in Hollywood that will do just that.”
Imax has been key in the box office’s post-COVID recovery; audiences have been gravitating toward the biggest and brightest screens to distinguish from the at-home experience of watching a movie. Fernandes mentioned anticipated titles such as Christopher Nolan’s “The Odyssey,” Denis Villeneuve’s “Dune: Part III,” the “Star Wars” spinoff “Mandalorian and Grogu” and Greta Gerwig’s “Narnia,” all of which will utilize the company’s technology. With an assist from those and others, Imax expects to deliver a record $1.4 billion in 2026.
Meanwhile Imax’s CEO Rich Gelfond shared a health update, noting that he’s gradually resuming leadership duties as he transitions from a temporary medical leave of absense.
“My recovery from pneumonia is progressing well. I have been discharged from the hospital and will continue to focus on my health in the coming weeks,” Gelfond said in a statement. “As I transition back from medical leave, I am gradually re-engaging in the business and involved in all strategic decisions at Imax. The management team is doing an outstanding job and will continue with their day-to-day responsibilities.”
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