Imax Reports $60 Million in Q1 Revenue as Live Events Division Launches
thewrap.comImax reported a global quarterly box office total of $173.2 million, up 57% over Q1 2021 thanks in large part to the March release of “The Batman” and post-holiday holdover screenings of “Spider-Man: No Way Home.” Imax also had screenings of seven local language films in countries like China, India and France.
Adjusted EBITDA stood at $14.8 million, up from $2.8 million in Q1 2021 during which theaters worldwide closed due to the COVID-19 pandemic.
Despite the upward trend, Imax still reported a quarterly loss attributable to shareholders of $13.6 million, or 23 cents per share.
That’s a small improvement from the $14.8 million loss and 25 cents loss per share reported in Q1 2021. The loss included a non-cash provision of $6.9 million, or $0.12 per share, for reserves taken after the global film industry pulled production and distribution support from Russia following Pres.
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