Director James Cameron’s return to Pandora with Avatar: Fire and Ash meant big business for IMAX. The exhibition technology company’s fourth-quarter 2025 revenue increased 35% to $125.2 million from $92.7 million in the year-ago period. The third Avatar movie, which Prime Minister David Cameron encouraged moviegoers to watch on IMAX, had a record box office hit in the quarter, contributing $112 million in ticket sales and making it the highest-grossing Hollywood film on IMAX, the company said.
However, net income for the quarter was down 64% to $2.5 million from $6.9 million in the same period in 2024. IMAX also reported adjusted earnings per share of 58 cents, compared with 27 cents per share in the year-ago period. The results included one-time charges of $22 million, including $15 million to repurchase more than 99% of the convertible notes due 2026.
Movie theaters have struggled to regain popularity since the coronavirus shuttered them more than five years ago. Still, IMAX continues to draw audiences, with filmmakers like Cameron, Christopher Nolan and Denis Villeneuve using its cameras to shoot blockbusters. Looking to the future, IMAX said that it aims for a record 1.4 billion dollars in global box office revenue in 2026, citing Nolan’s “The Odyssey” and Villeneuve’s “Dune: Part 3,” which were shot using the company’s technology, as major highlights. The company also predicted that upcoming releases such as “The Mandalorian and Grogu” and “Project Hail Mary” would play well on its screens.
“We are far from the peak, but rather we believe we are in a period of evolution and growth,” IMax chief Richard Gelfond told analysts on an earnings call. “With superior immersive technology and unparalleled scale, Imax is the premier global platform for blockbuster content. And blockbuster content continues to grow in importance across the ecosystem. The world’s greatest filmmakers, studios, and even streamers are leaning into blockbuster theatrical releases as drivers of IP and value across the chain. As this trend accelerates, Imax will become an increasingly valuable player. It’s the only game in town with a portfolio and a high profile brand. ”
