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Imax cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$84.2M in Q3 2026 · $146M over twelve months

Operating cash flow$86.1M
Capital spending−$1.9M
Free cash flow+$84.2M
Cash / net income0.7×

Analysis

In Q3 2026, Imax generated $86.1M of operating cash flow and spent $1.9M on capital projects, leaving free cash flow of $84.2M. That is $19.4M more than in Q3 2025 ($64.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $151M; the largest uses were other financing ($40.1M), net borrowing (+) / repaid (−) ($29.0M), other investing ($23.4M); besides operations, cash came from shares issued ($29.3M); the cash balance rose by $64.8M.

Operating cash flow was $86.1M against net income of $117M — 0.7× profit, less cash than reported earnings, worth checking against working capital. The largest differences: deferred taxes −$47.4M, depreciation & amortization +$26.8M, receivables −$24.7M.

Free cash flow

Imax: free cash flow by quarterImax: free cash flow by quarter$6.9MQ4 2024$5.3MQ1 2025$20.9MQ2 2025$64.8MQ3 2025$28.0MQ4 2025$1.9MQ1 2026$32.0MQ2 2026$84.2MQ3 2026
Operating cash flow less capital spending.
Imax: operating cash flow against capital spendingImax: operating cash flow against capital spendingOperating cash flowCapital spending$11.5M$4.6MQ4 2024$7.0M$1.6MQ1 2025$23.2M$2.4MQ2 2025$67.5M$2.7MQ3 2025$29.4M$1.4MQ4 2025$4.0M$2.1MQ1 2026$32.0M$21KQ2 2026$86.1M$1.9MQ3 2026
Latest (Q3 2026): Operating cash flow $86.1M, Capital spending $1.9M.

Capital allocation, year by year

Imax: where the cash came from (up) and went (down), by fiscal yearImax: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $6.1MFY2021: Net borrowing −$80.3MFY2021: Shares issued $883KFY2021: Capital spending −$3.6MFY2021: Buybacks −$13.9M$6.9MFY2021FY2022: Operating cash flow $17.3MFY2022: Net borrowing $33.3MFY2022: Capital spending −$8.4MFY2022: Acquisitions −$15.9M$50.6MFY2022FY2023: Operating cash flow $58.6MFY2023: Net borrowing −$14.0MFY2023: Capital spending −$6.5M$58.6MFY2023FY2024: Operating cash flow $70.8MFY2024: Net borrowing $12.5MFY2024: Shares issued $5.3MFY2024: Capital spending −$8.4M$88.6MFY2024FY2025: Operating cash flow $127MFY2025: Net borrowing $243MFY2025: Shares issued $4.0MFY2025: Capital spending −$8.2M$374MFY2025
Over these 5 years operating cash flow totalled $280M; the largest uses were net borrowing ($94.3M) and capital spending ($35.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$208M
Debtnone
Net cash$208M

Imax funds itself: free cash flow was $146M over the last twelve months, with $208M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Imax: sources (+) and uses (−) of cash, Q3 2026Imax: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$86.1MCash drawn (+) / kept (−)−$48.0MNet borrowing (+) / repaid (−)−$41.0MShares issued$11.4MOther investing−$6.8MCapital spending−$1.9MExchange rates$420KOther financing−$160K
Imax: sources (+) and uses (−) of cash, TTM to Q3 2026Imax: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$151MCash drawn (+) / kept (−)−$64.8MOther financing−$40.1MShares issued$29.3MNet borrowing (+) / repaid (−)−$29.0MOther investing−$23.4MTaxes on employees’ shares−$17.9MCapital spending−$5.5MExchange rates−$19K

From profit to cash

Imax: net income to operating cash flow, Q3 2026Imax: net income to operating cash flow, Q3 2026Net income$117MDepreciation & amortization$26.8MStock-based pay$9.8MDeferred taxes−$47.4MImpairments$6.8MGains on investments−$38KReceivables−$24.7MPayables$1.1MDeferred revenue$3.8MContract assets$5.7MPrepaid and other assets$3.3MOther liabilities$137KOther operating capital$9.7MOperating cash flow$86.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$86.1M−$1.9M−$41.0M$11.4M−$48.0M$84.2M
Q2 2026$32.0M−$21K−$8.0M$11.5M−$13.9M$32.0M
Q1 2026$4.0M−$2.1M$12.0M$3.8M$5.2M$1.9M
Q4 2025$29.4M−$1.4M−$16.0M$2.6M−$8.1M$28.0M
Q3 2025$67.5M−$2.7M−$19.0M$346K−$33.9M$64.8M
Q2 2025$23.2M−$2.4M−$2.0M$100K−$12.2M$20.9M
Q1 2025$7.0M−$1.6M$13.0M$948K$3.5M$5.3M
Q4 2024$11.5M−$4.6M−$10.0M$5.2M$3.9M$6.9M

Imax: income statement and cash flow

Imax, Q3 2026: revenue $175M (+64% year over year), operating margin 42.9%. The chart follows the revenue to costs, profit and cash.

Imax: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.