IMAX Corporation announced that its chief executive officer, Richard Gelfond, will be on a temporary medical leave of absence to receive treatment for pneumonia. The company confirmed that Gelfond will not attend any public or private events during this period and that senior executives will continue to oversee day‑to‑day operations. No interim CEO has been named, and Gelfond’s return will depend on his medical progress.
The announcement comes after a record‑setting 2025 year for IMAX. Total revenue reached $410.21 million, up 16.47 % year‑over‑year, while earnings rose 33.83 % to $34.88 million. The company also posted a record global box office of $1.28 billion, a 40 % increase, and an adjusted EBITDA margin of 45.1 %. In the fourth quarter of 2025, revenue was $125.2 million, up 35.1 % YoY, and the adjusted EPS was $0.58, beating analyst expectations.
Segment data shows that Content Solutions revenue grew strongly, with gross margin expanding from 53 % in 2024 to 66 % in 2025, reflecting higher demand for IMAX’s proprietary content and licensing agreements. Technology Products and Services also saw revenue and margin increases, driven by continued adoption of IMAX’s projection and audio systems in new theaters and the expansion of its digital content delivery platform.
Board Chairman Darren Throop said, “We have a strong, deeply experienced senior executive team who are fully engaged, providing regular updates to the Board, and remain focused as always on the continued growth and success of IMAX. We are all wishing Rich well and a full and speedy recovery.” The company’s succession plan ensures operational continuity, with the executive team maintaining strategic momentum while Gelfond recovers.
Looking ahead, Gelfond will miss upcoming industry conferences such as CinemaCon in Las Vegas, but the company’s financial health remains solid, with liquid assets exceeding short‑term obligations and a moderate debt profile. IMAX’s next quarterly earnings call is expected in late April 2026, and the company is positioned to build on its record 2025 performance and pursue a projected $1.4 billion global box office for 2026.
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