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Imax (IMAX)

IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that takes people beyond the edge of seat to a world they've never imagined. Top filmmakers and studios are utilizing IMAX theaters to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.

Company profile

Ticker
IMAX
Exchange
Website
CEO
Richard Gelfond
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
3183 Films Ltd. • 12582 Productions Inc. • 1329507 Ontario Inc. • 2328764 Ontario Ltd. • 4507592 Canada Ltd. • 6822967 Canada Ltd. • 7096267 Canada Ltd. • 7103077 Canada Ltd. • 7109857 Canada Ltd. • 7214316 Canada Ltd. ...
IRS number
980140269

IMAX stock data

Analyst ratings and price targets

Last 3 months

Calendar

28 Jul 22
16 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 110.11M 110.11M 110.11M 110.11M 110.11M 110.11M
Cash burn (monthly) 17.4M 8.67M 372.67K (no burn) 503.33K (no burn)
Cash used (since last report) 27.32M 13.61M 585.2K n/a 790.39K n/a
Cash remaining 82.8M 96.5M 109.53M n/a 109.32M n/a
Runway (months of cash) 4.8 11.1 293.9 n/a 217.2 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Jun 22 Douglas Kevin Common Stock Grant Acquire A No No 0 7,348 0 3,968,458
10 Jun 22 Demirian Eric A common shares Payment of exercise Dispose F No No 16.26 3,934 63.97K 51,290
10 Jun 22 Demirian Eric A common shares Option exercise Acquire M No No 0 7,348 0 55,224
10 Jun 22 Demirian Eric A restricted share units common shares Option exercise Dispose M No No 0 7,348 0 0
10 Jun 22 Demirian Eric A restricted share units common shares Grant Acquire A No No 0 7,348 0 7,348
10 Jun 22 Steve Pamon common shares Option exercise Acquire M No No 0 7,348 0 12,933
10 Jun 22 Steve Pamon restricted share units common shares Option exercise Dispose M No No 0 7,348 0 0
10 Jun 22 Steve Pamon restricted share units common shares Grant Acquire A No No 0 7,348 0 7,348
10 Jun 22 Leebron David W common shares Option exercise Acquire M No No 0 7,348 0 108,501
10 Jun 22 Leebron David W restricted share units common shares Option exercise Dispose M No No 0 7,348 0 0
83.4% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 152 151 +0.7%
Opened positions 17 37 -54.1%
Closed positions 16 19 -15.8%
Increased positions 42 47 -10.6%
Reduced positions 57 40 +42.5%
13F shares Current Prev Q Change
Total value 881.01M 2.66B -66.8%
Total shares 46.78M 45.56M +2.7%
Total puts 992.1K 987.3K +0.5%
Total calls 2.88M 3.21M -10.4%
Total put/call ratio 0.3 0.3 +12.1%
Largest owners Shares Value Change
Douglas Kevin 3.84M $68.43M 0.0%
BLK Blackrock 2.76M $52.23M -2.3%
Nantahala Capital Management 2.67M $50.51M -4.6%
Alliancebernstein 2.5M $47.41M -10.0%
IVZ Invesco 2.22M $41.97M +2.2%
MCQEF Macquarie 2.13M $40.29M +349951.3%
Massachusetts Financial Services 1.95M $36.87M +2.0%
Renaissance Technologies 1.76M $33.4M -4.0%
BEN Franklin Resources 1.52M $28.77M -1.3%
Wellington Management 1.38M $26.16M +7.2%
Largest transactions Shares Bought/sold Change
MCQEF Macquarie 2.13M +2.13M +349951.3%
Millennium Management 1.33M +950.47K +251.9%
Norges Bank 0 -670.71K EXIT
Citadel Advisors 0 -561.56K EXIT
Royce & Associates 746.97K -381.5K -33.8%
Point72 Asset Management 334.42K +334.42K NEW
Alyeska Investment 0 -288.96K EXIT
Eagle Asset Management 280.7K +280.7K NEW
Alliancebernstein 2.5M -277.66K -10.0%
GS Goldman Sachs 959.82K +223.81K +30.4%

Financial report summary

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Risks
  • The success of the IMAX network is directly related to the availability and success of IMAX DMR films, and other films released to the IMAX network, as well as the continued purchase or lease of IMAX Theater Systems and other support by movie exhibitors, for which there can be no guarantee.
  • The Company faces cyber-security and similar risks, which could result in the disclosure, theft, or loss of confidential or other proprietary information, including intellectual property, damage to the Company’s brand and reputation, legal exposure and financial losses. The Company must also comply with a variety of data privacy regulations and failure to comply with such regulations may affect the Company’s financial performance.
  • The Company conducts business internationally, which exposes it to uncertainties and risks that could negatively affect its operations, sales, and future growth prospects.
  • The Company faces risks in connection with its significant presence in China and the continued expansion of its business there.
  • Consolidation among commercial exhibitors and studios reduces the breadth of the Company’s customer base, and could result in a narrower market for the Company’s products and reduced negotiating leverage. A deterioration in the Company’s relationship with key partners could materially and adversely affect the Company’s business, financial condition or results of operation. In addition, an adverse economic impact on a significant customer’s business operations could have a corresponding material adverse effect on the Company.
  • Failure to respond adequately or in a timely fashion to changes and advancements in digital technology could negatively affect the Company’s business.
  • The Company may not be able to adequately protect its intellectual property, and competitors could misappropriate its technology or brand, which could weaken its competitive position.
  • The Company may be subject to claims of infringement of third-party intellectual property rights that are costly to defend, result in the diversion of management’s time and efforts, require the payment of damages, limit the Company’s ability to use particular technologies in the future or prevent the Company from marketing its existing or future products and services.
  • The Company’s operating results and cash flow can vary substantially from period to period and could increase the volatility of its share price.
  • The Company’s theater system revenue can vary significantly from its cash flows under IMAX Theater System sales or lease agreements.
  • The Company’s inability to enter into renewals of new sales and lease agreements on favorable terms or at all would adversely affect its cash flows and operating results.
  • The Company’s revenues from existing customers are derived in part from financial reporting provided by its customers, which may be inaccurate or incomplete, resulting in lost or delayed revenues.
  • There is collection risk associated with payments to be received over the terms of the Company’s theater system agreements.
  • The Company may be subject to impairment losses on its film assets if such assets do not meet management’s estimates of total revenues.
  • The Company may be subject to impairment losses on its inventories if they become obsolete.
  • Because the Company is incorporated in Canada, it may be difficult for plaintiffs to enforce against the Company liabilities based solely upon United States federal securities laws.
  • The credit agreement governing the Company’s senior secured credit facility contains significant restrictions that limit its operating and financial flexibility.
  • The Company may be unable to raise the funds necessary to repurchase the Convertible Notes for cash following a fundamental change, or to pay the cash amounts due upon conversion, and the Company’s other indebtedness may limit its ability to repurchase the Convertible Notes or pay cash upon their conversion.
  • The loss of one or more of the Company’s key personnel, or its failure to attract and retain its employee population, could adversely affect its business.
  • Regulatory and market responses to climate change concerns may negatively impact our business and increase our operating costs.
  • The Company’s business and financial results could be adversely affected by weather conditions and natural disasters.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: Branch, camera, captured, celebration, Codification, consent, craft, dividend, double, Dragon, evidenced, Fest, Fleming, Fox, Game, Hansan, HSBC, IMAXTM, Lion, LiveTM, notice, optimistic, preceded, proposed, repeated, Shiva, shot, Sing, Star, Summer, sunset, Super, Venice, Water
Removed: appealed, calendar, environment, launched, outflow, Paramount, record, recover, reduced, ruled, ruling, worth