IMAX Corporation reported second-quarter revenue of USD $103 million, up 12% year-over-year, with adjusted EBITDA increasing 23% to USD $48 million and adjusted earnings reaching a Q2 record of USD $0.43 per share. Global IMAX box office totaled USD $285 million, its best second quarter since 2019, led by “Michael” with USD $69 million, “The Mandalorian & Grogu” with USD $42 million and “The Super Mario Galaxy Movie” with USD $39 million. It was a strong quarter on its own merits—and one that ended before Christopher Nolan even entered the building.

The hardware business was equally healthy. IMAX installed 38 systems during the quarter, its strongest Q2 installation total in a decade, expanding its commercial network to 1,809 locations with another 421 systems in backlog. Net cash from operating activities rose 19% to USD $36 million, while the company repurchased USD $13.7 million of its shares. The installation pace may be the more important signal for exhibitors: cinema operators were committing capital to the format before any “Odyssey” halo effect appeared on the horizon.

That halo arrived firmly in Q3. “The Odyssey,” the first feature filmed entirely using IMAX film cameras, opened to a record USD $52 million worldwide in IMAX and accounted for 20% of the film’s global debut. Its 41 IMAX 70mm locations generated USD $6.3 million, averaging a blistering USD $153,000 per screen. With additional international markets still to open and “Dune: Part Three” ahead later this year, IMAX has moved from reporting a solid quarter to contemplating what could be an exceptional second half.