Filing Flows › Imax (IMAX) › Q3 2025
Imax (IMAX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 23, 2025
Imax (IMAX) reported revenue of $107M for the third quarter 2025 (Q3 2025), +17% from a year earlier and +16% from the quarter before. Operating margin was 27.2%, net earnings $20.7M (19.4% of revenue).
Imax, Q3 2025: revenue $107M (+17% year over year), operating margin 27.2%, net earnings $20.7M, operating cash flow $67.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $107M | +16% | +17% |
| Gross profit | $67.3M | +26% | +32% |
| Operating profit | $29.0M | +102% | +50% |
| Net earnings | $20.7M | +84% | +49% |
| Operating cash flow | $67.5M | +191% | +91% |
| Free cash flow | $64.8M | +210% | +90% |
What changed
Revenue was $106.7M in Q3 2025, up 17% year over year and up 16% from the previous quarter. Image enhancement and maintenance services was the largest line at 57% of revenue. Image enhancement and maintenance services added $14.1M year over year (up 30%), 93% of the total change. Technology sales declined 26%.
Gross margin was 63.1%, up 7.3 points from a year earlier. Operating profit was $29.0M, a 27.2% margin (up 6.0 points year over year). Of the extra revenue versus a year earlier, 63% reached operating profit, above the 21% margin then. Operating expenses grew 21% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+1662%). Net earnings were $20.7M, up 49% year over year. The effective tax rate was 18.7%.
Operating cash flow was $67.5M (up 91% year over year), 299% of net income including minority interests. Non-cash charges added back $15.6M of depreciation and amortization and $6.3M of share-based compensation. Working capital and other items added $23.0M. Capital expenditures of $2.7M left free cash flow of $64.8M.
Questions
What was Imax's revenue in the third quarter 2025?
Imax (IMAX) reported revenue of $107M for the third quarter 2025 (Q3 2025), +17% from a year earlier and +16% from the quarter before.
Was Imax profitable in the third quarter 2025?
Operating profit was $29.0M (27.2% of revenue) and net earnings $20.7M.
Source: Imax 10-Q on SEC EDGAR.