IMAX stock reaches record high as ‘The Odyssey’ extends box-office run

IMAX stock and “The Odyssey” were back in focus Monday after shares of the large-format cinema company reached an all-time high. CNBC reported the stock rose nearly 6% intraday after IMAX recorded its third consecutive weekend with more than $50 million in global ticket sales. For investors, the move ties a current box-office hit to a broader debate over whether IMAX can turn audience demand into sustained growth in its theater network.

CNBC reported that IMAX had generated $221 million in worldwide box office from Christopher Nolan’s film as of Aug. 3, representing nearly one-quarter of the movie’s global total. The company’s shares were up 37% so far this year and 100% over the prior 12 months, CNBC said. Its intraday quote of $50.57, up 5.71% at 1:27 p.m. EDT, was not a closing price.

The movie’s initial IMAX performance was already unusually large. In its July 23 earnings release filed with the Securities and Exchange Commission, IMAX said it collected $52 million from “The Odyssey” during the opening weekend, or 20% of the film’s global box office. The figure excluded South Korea, mainland China and Japan, where the release was scheduled later.

That result arrived after the quarter covered by IMAX’s latest earnings report. The company’s second quarter ended June 30, before “The Odyssey” opened in July, so the film did not drive those reported quarterly results.

Why did IMAX stock rise after “The Odyssey”?

The immediate catalyst was continued ticket demand, but the evidence does not establish that one film alone caused the share-price increase. Investors were also looking at IMAX’s reported profits, installation activity and management’s outlook for the rest of 2026.

For the three months ended June 30, IMAX reported $102.8 million in revenue, up 12% from a year earlier, and net income of $15.9 million. Diluted earnings per share were 27 cents, while adjusted diluted EPS was 43 cents, up 65% year over year. The company identifies adjusted EPS and adjusted EBITDA as non-GAAP measures, meaning they are reported in addition to the standard accounting figures.

Chief Executive Rich Gelfond described the company’s momentum as a “flywheel” in an interview with CNBC. His stated rationale was that opening and installing more theaters produces greater recurring cash flow and a higher cash-conversion rate, supporting the business’s expansion. That is management’s view of how the model could reinforce itself, rather than a proven forecast.

There are measurable inputs behind that argument. IMAX installed 38 systems globally in the second quarter, its highest second-quarter total in a decade, according to its SEC-filed release. CNBC reported the company had 421 contracted screens in its backlog and was targeting 160 to 175 installations for 2026.

IMAX also said “The Odyssey” had produced its highest-grossing Monday and Tuesday and about $60 million in presales for later showtimes. CNBC reported that the company extended the movie’s run, including 70mm presentations, through mid-September. Whether that demand holds, and whether future releases support the installation plans, remain forward-looking questions.

This story draws on original reporting from CNBC.