Record Per-Patron Metrics
Q4 delivered the highest quarterly box office per patron (BPP) in company history at $13.87, up 4.6% year-over-year, and a Q4 record for concession per patron (CPP) at $9.92, up 5.4% year-over-year.
Strong Premium Format Mix
Premium experiences accounted for 43% of Q4 box office (versus 41% in 2024). The top 5 films averaged 62% of their box office from premium formats, underpinning pricing and mix strength.
Cinema Media Growth and Engagement
Cinema Media revenue increased 12.5% year-over-year to $33.8 million in Q4. Cinema Media per patron rose 23.3% to a Q4 record of $3.33, aided by programmatic cinema and demand from categories like pharma and CPG.
Distribution & International Content Success
Cineplex Pictures and international titles performed strongly: Dhurandhar became the highest grossing Hindi-language film in North America with Cineplex delivering a 31% market share. International content represented >11% of Q4 box office (nearly double the North American average).
Location-Based Entertainment Revenue Expansion
LBE revenue grew 6.8% year-over-year to $35.9 million in Q4, driven by contributions from three new locations opened in late 2024, while same-store margins remained flat at 23.1% demonstrating operational discipline.
Balance Sheet & Cash Generation Boost
Completed sale of Cineplex Digital Media with initial cash proceeds of approximately $60 million and recognized a $3.3 million gain (discontinued operations). Company ended Q4 with $134 million in cash and no drawings on the $100 million credit facility.
Full Year Revenue and EBITDAaL Slightly Improved
Full year 2025 total revenues increased 0.8% to approximately $1.2 billion. Adjusted EBITDAaL rose to $91.6 million from $90.0 million in the prior year, reflecting overall operational discipline despite attendance headwinds.
CapEx Reduction and 2026 Guidance
Net capex for 2025 was $32.7 million (down from $65.9 million in 2024). Guidance for 2026 capex is approximately $50 million, reflecting a lower near-term investment profile and focus on maintenance and selective growth.
Programming Strength and 2026 Slate Visibility
Q4 strength driven by titles like Avatar: Fire and Ash, Zootopia 2, Wicked: For Good and Five Nights at Freddy's 2. Management expects a materially stronger 2026 slate (Super Mario Galaxy, Toy Story 5, Spider-Man, Avengers, Dune Part 3) and industry box office growth forecasts of ~8–15% for 2026.
Loyalty and Consumer Engagement Momentum
CineClub membership surpassed 225,000; members visit more often, choose premium formats at higher rates and spend more on concessions. Scene+ expansion to include Shell strengthens everyday utility of loyalty ecosystem.