Cineplex Reports Record Second Quarter 2026 Revenues With 20.4% Growth in Adjusted EBITDAaL

TORONTO, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Today, Cineplex Inc. (“Cineplex” or the “Company”) released its financial results for the three and six months ended June 30, 2026. Unless otherwise specified, all amounts contained in this news release are in Canadian dollars.

Q2 2026 Highlights:

• Reported the highest second quarter total revenues¹ in the Company’s history of $383.7 million, an increase of 9.8% over the prior year
• Welcomed 12.7 million guests, an increase of 9.3% over the prior year
• Recorded box office revenues of $176.2 million, the highest second quarter total since 2019
• Achieved all-time quarterly record theatre food service revenues of $132.5 million, an increase of 11.7% over the prior year
• Set all-time quarterly records for Box Office Per Patron at $13.91 and Concession Per Patron at $10.26
• Recognized $20.2 million in cinema media revenue, an increase of 4.4% over the prior year
• Generated $40.8 million in Adjusted EBITDAaL compared to $33.9 million in the prior year, representing an increase of 20.4%
• Reported net income from continuing operations of $7.8 million, an improvement from $0.1 million in the prior year
• Delivered $23.8 million of adjusted free cash flow, a 41.2% increase over the prior year
• Opened Cineplex’s 17th Location-Based Entertainment venue, Playdium Vaughan
  
  

“Our second quarter results mark an important milestone in Cineplex's growth trajectory, with our highest second quarter revenues of all time and a 20.4% year-over-year increase in Adjusted EBITDAaL,” said Ellis Jacob, President & CEO. “These record results reflect a more consistent and diverse film slate, the enduring appeal of shared entertainment experiences, and our team’s ability to capitalize on those opportunities. From younger moviegoers embracing breakout original films to families and long-time fans returning for major theatrical events, we saw strong engagement across demographics throughout the quarter. Audiences were not only coming to see great content at our theatres but were also choosing to fully immerse themselves in the moviegoing experience, contributing to record box office per patron and concession per patron results.

We also continued to showcase the versatility of our theatre network through our partnership with TSN, bringing select FIFA World Cup matches to the big screen and offering fans a unique viewing experience. Cineplex was a North American leader in presenting FIFA matches in theatres, demonstrating our ability to leverage our theatre network to deliver premium live entertainment experiences at scale.

Beyond the strong performance of our exhibition business, our Media business delivered year-over-year growth, continuing to demonstrate the value of cinema as a premium, high-attention environment for advertisers. As brands look for meaningful ways to connect with the Gen Z audience, the theatre experience offers a stronger advertising response and longer-term brand memory that is difficult to find elsewhere.

During the quarter, we also opened a new Playdium location in Vaughan, featuring an updated venue concept, which has delivered encouraging results in its early days of operation.

Over the past several years, we have remained focused on strengthening our financial position and that progress is becoming increasingly evident. The strength of our business today reflects that progress. During the opening weekend of Spider-Man: Brand New Day, supported by the continued success of The Odyssey, Cineplex achieved the highest weekend box office revenue and highest theatre food service revenue in its history, while also delivering record-breaking results across its industry-leading premium formats, including AVX, 4DX, ScreenX and VIP. Both films have now surpassed $1 billion at the global box office, and demand for The Odyssey remains exceptionally strong, with Cineplex’s eight 70mm IMAX screens continuing to sell out showtimes. These achievements underscore the enduring appeal of moviegoing as a shared experience and the power of compelling theatrical content to bring audiences together. Combined with a robust content pipeline through 2027 and improving industry fundamentals, we believe Cineplex is well positioned to deliver sustainable growth and long-term shareholder value creation. With growing EBITDAaL, improving free cash flow generation and meaningful deleveraging, Cineplex is entering its next phase from a position of strength.”

Second Quarter Financial Results

Financial highlights		Second Quarter								Year to Date
(in thousands of dollars, except theatre attendance in thousands of patrons and per share and per patron amounts)		2026			2025			Change (i)		2026			2025			Change (i)
					(iii)								(iv)
Total revenues		$	383,724		$	349,337		9.8	%	$	674,707		$	601,060		12.3	%
Theatre attendance			12,666			11,583		9.3	%		22,508			19,975		12.7	%
Net income (loss) from continuing operations		$	7,802		$	143		NM		$	(14,587	)	$	(34,987	)	-58.3	%
Net income (loss) from discontinued operations, including gain on disposition		$	—		$	(2,341	)	-100.0	%	$	—		$	(3,826	)	-100.0	%
Net income (loss)		$	7,802		$	(2,198	)	NM		$	(14,587	)	$	(38,813	)	-62.4	%
Cash provided by continuing operating activities		$	74,430		$	47,418		57.0	%	$	59,668		$	18,711		218.9	%
Box office revenues per patron (“BPP”) (ii)		$	13.91		$	13.68		1.7	%	$	13.49		$	13.04		3.5	%
Concession revenues per patron (“CPP”) (ii)		$	10.26		$	10.04		2.2	%	$	9.95		$	9.66		3.0	%
Adjusted EBITDA (ii)		$	81,808		$	74,621		9.6	%	$	126,526		$	104,530		21.0	%
Adjusted EBITDAaL (ii)		$	40,799		$	33,894		20.4	%	$	44,923		$	23,176		93.8	%
Adjusted EBITDAaL from discontinued operations (ii)		$	—		$	(464	)	-100.0	%	$	—		$	(558	)	-100.0	%
Adjusted EBITDAaL including discontinued operations (ii)		$	40,799		$	33,430		22.0	%	$	44,923		$	22,618		98.6	%
Adjusted EBITDAaL margin from continuing operations (ii)			10.6	%		9.7	%	0.9	%		6.7	%		3.9	%	2.8	%
Adjusted free cash flow (ii)		$	23,833		$	16,881		41.2	%	$	14,988		$	(8,724	)	NM
Adjusted free cash flow per share (ii)		$	0.378		$	0.266		42.1	%	$	0.238		$	(0.138	)	NM
Earnings (loss) per share from continuing operations - basic		$	0.12		$	—		NM		$	(0.23	)	$	(0.55	)	-58.2	%
Earnings (loss) per share from discontinued operations - basic		$	—		$	(0.03	)	-100.0	%	$	—		$	(0.06	)	-100.0	%
Earnings (loss) per share - basic		$	0.12		$	(0.03	)	NM		$	(0.23	)	$	(0.61	)	-62.3	%
Earnings (loss) per share from continuing operations - diluted		$	0.12		$	—		NM		$	(0.23	)	$	(0.55	)	-58.2	%
Earnings (loss) per share from discontinued operations - diluted		$	—		$	(0.03	)	-100.0	%	$	—		$	(0.06	)	-100.0	%
Earnings (loss) per share - diluted		$	0.12		$	(0.03	)	NM		$	(0.23	)	$	(0.61	)	-62.3	%
(i) Period over period change calculated based on thousands of dollars except percentage and per share values. Changes in percentage amounts are calculated as 2026 value less 2025 value.
(ii) Adjusted EBITDA, adjusted EBITDAaL, adjusted EBITDAaL margin, adjusted free cash flow per common share of Cineplex, BPP and CPP are measures that do not have a standardized meaning under generally accepted accounting principles (“GAAP”).  These measures as well as other Non-GAAP other financial measures reported by Cineplex are defined in the 'Non-GAAP and Other Financial Measures' section at the end of this news release.
(iii)  The results of discontinued operations have been excluded from prior period figures as applicable per IFRS 5 to conform to the current period presentation. All amounts are from continuing operations unless otherwise noted.

Second Quarter and July Box Office Results

The following table compares 2026 monthly box office revenues to 2025 monthly box office revenues:

Month	2025 Box office (i)		2026 Box office (i)		2026 as a percentage of 2025
April	$51,375		$60,012		117%
May	$55,331		$60,450		109%
June	$51,770		$55,753		108%
Q2 Total	$158,475		$176,215		111%
July	$72,722		$72,601		100%
(i) Amounts are in thousands of dollars.

July box office is in line with the prior year despite a strong comparison period. Strong performances from The Odyssey and the record-breaking opening of Spider-Man: Brand New Day, which contributed only one day of results to the month, helped offset comparisons against a July 2025 slate that benefited from full-month runs of Jurassic World Rebirth and F1: The Movie, as well as the record-breaking opening of Superman.

KEY DEVELOPMENTS IN THE SECOND QUARTER OF 2026

The following describes certain key business initiatives undertaken and results achieved during 2026 in each of Cineplex’s core business areas:

FILM ENTERTAINMENT AND CONTENT

Theatre Exhibition

• Reported second quarter box office revenues of $176.2 million, an increase of $17.7 million or 11.2% from $158.5 million in the prior year period. The increase was due to a 9.3% increase in attendance compared to the prior year period.
• Reported an all-time quarterly record BPP of $13.91 in the second quarter, an increase of $0.23 or 1.7% compared to the prior year period of $13.68.
• Closed one location as part of Cineplex’s portfolio optimization and rationalization strategy.
  
  

Theatre Food Service and Other

• Reported second quarter theatre food service revenues of $130.0 million, an increase of $13.7 million or 11.8% compared to the prior year period, primarily due to an increase in attendance.
• Reported an all-time quarterly record CPP of $10.26 in the second quarter, an increase of $0.22 or 2.2% compared to the prior year period, primarily due to strategic pricing initiatives, as well as an increase in purchase incidence.
• Cineplex launched its partnership with Too Good To Go, enabling guests to purchase select offerings of concession items at reduced prices, while helping to minimize food waste across Canada.
  
  

Alternative Programming and Distribution

• Cineplex Pictures (Cineplex’s distribution business) distributed Michael, which became the highest grossing film of all-time distributed by Cineplex Pictures, as well as The Furious, Power Ballad, and Mobile Suit Gundam Hathaway: The Sorcery of Nymph Circe during the second quarter.
• Continued its leadership position in alternative programming, with strong performing international films including Dhurandhar The Revenge (Hindi), Rabb Da Radio 3 (Punjabi) for which Cineplex represented over 80% of the North American box office, and Bhooth Bangla (Hindi).
• Event Cinema programming featured a variety of successful initiatives, highlighted by concert events such as three live viewings of the BTS WORLD TOUR, the finale of the viral web-series The Amazing Digital Circus - The Last Act, and The Metropolitan Opera performances, including Eugene Onegin.
• Cineplex, in partnership with TSN, screened select FIFA World Cup 2026 matches live in participating theatres between June 11, 2026, and July 19, 2026.
  
  

CINEMA MEDIA

• Reported second quarter cinema media revenues of $20.2 million, an increase of $0.9 million or 4.4% from the prior year period.
  
  

LOCATION-BASED ENTERTAINMENT

• Reported second quarter revenues of $32.0 million, a decrease of $1.2 million or 3.7% compared to the prior year period.
• Reported second quarter adjusted store level EBITDAaL of $3.9 million, a decrease of $1.9 million or 32.8% compared to the prior year period.
• Opened Playdium Vaughan, in Vaughan, Ontario, on June 17, 2026.
  
  

LOYALTY

• Membership in the Scene+ loyalty program was over 15 million members as at June 30, 2026.
• Scene+ launched a nationwide partnership with Shell Canada on May 26, 2026, giving members even more everyday ways to earn and redeem points.
  
  

CORPORATE

• Heidi Messer and Ron Wilson were elected to the Board of Directors at Cineplex’s Annual and Special Meeting of Shareholders held on June 3, 2026, following Jordan Banks’ and Robert Bruce’s retirement from the Board of Directors.
  
  

NON-GAAP AND OTHER FINANCIAL MEASURES

National Instrument 52-112, Non-GAAP and Other Financial Measures Disclosure (“NI 52-112”) imposes obligations regarding disclosure of non-GAAP financial measures, non-GAAP ratios, and other financial measures. Cineplex reports on certain non-GAAP measures, non-GAAP ratios, supplementary financial measures and total segment measures that are used by management to evaluate Cineplex’s performance. The following measures included in this news release do not have a standardized meaning under GAAP and may not be comparable to similar measures provided by other issuers. Cineplex includes these measures because management believes that they assist investors in assessing financial performance. These non-GAAP and other financial measures are used throughout this news release and are defined below.

NON-GAAP FINANCIAL MEASURES

A non-GAAP financial measure is defined in NI 52-112 as a financial measure disclosed that (a) depicts the historical or expected future financial performance, financial position or cash flow of an entity, (b) with respect to its composition, excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in the primary financial statements of the entity, (c) is not disclosed in the financial statements of the entity, and (d) is not a ratio, fraction, percentage or similar representation.

NON-GAAP RATIOS

A non-GAAP ratio is defined in NI 52-112 as a financial measure disclosed that (a) is in the form of a ratio, fraction, percentage or similar representation, (b) has a non-GAAP financial measure as one or more of its components, and (c) is not disclosed in the financial statements.

Below are non-GAAP financial measures or non-GAAP ratios for continuing operations that are reported by Cineplex.

EBITDA, ADJUSTED EBITDA AND ADJUSTED EBITDAaL

Management defines EBITDA as earnings before interest income and expense, income taxes and depreciation and amortization expense. Adjusted EBITDA excludes the change in fair value of financial instrument, loss (gain) on disposal of assets, foreign exchange, and impairment, depreciation, amortization, interest and taxes of Cineplex’s other joint ventures and associates, and other items that do not in management’s view represent a factor relevant to the ongoing performance of the business such as the Competition Tribunal’s administrative monetary penalty. Adjusted EBITDAaL modifies adjusted EBITDA to deduct current period cash rent paid or payable related to lease obligations.

Subsequent to the adoption of IFRS 16, Leases, by Cineplex effective January 1, 2019, the calculation of EBITDA no longer includes a charge for amounts paid or payable with respect to leased property and equipment. Given the majority of Cineplex’s businesses are carried on in leased premises, Cineplex introduced the measure of adjusted EBITDAaL which includes a deduction for cash rent paid/payable related to lease obligations. Cineplex’s management believes that adjusted EBITDAaL is an important supplemental measure of Cineplex’s profitability at an operational level and provides analysts and investors with comparability in evaluating and valuing Cineplex’s performance period over period. EBITDA, adjusted for various unusual items, is also used to define certain financial covenants in Cineplex’s 2024 Credit Facility. Management calculates adjusted EBITDAaL margin by dividing adjusted EBITDAaL by total revenues.

EBITDA, adjusted EBITDA and adjusted EBITDAaL are non-GAAP measures generally used as an indicator of financial performance and they should not be seen as a measure of liquidity or a substitute for comparable metrics prepared in accordance with GAAP. Cineplex’s EBITDA, adjusted EBITDA and adjusted EBITDAaL may differ from similar calculations as reported by other entities and accordingly may not be comparable to EBITDA, adjusted EBITDA or adjusted EBITDAaL reported by other entities.

Adjusted Store Level EBITDAaL Metrics
Cineplex reviews and reports adjusted EBITDAaL at the location level for LBE which is calculated as total LBE revenues from all locations less total LBE operating expenses, which excludes pre-opening costs and overhead relating to the management of LBE.

Adjusted Store Level EBITDAaL Margin
Calculated as adjusted store level EBITDAaL divided by total revenues for LBE for the period.

SUPPLEMENTARY FINANCIAL MEASURES

Supplementary financial measures are financial measures that are not (a) presented in the financial statements and (b) are, or are intended to be, disclosed periodically to depict the historical or expected future financial performance, financial position or cash flow, that is not a non-GAAP financial measure or a non-GAAP ratio as defined in the instrument. Below are supplementary financial measures that Cineplex uses to depict its financial performance, financial position or cash flows.

Earnings (loss) per Share Metrics
Cineplex has presented basic and diluted earnings (loss) per share net of this item to provide a more comparable loss per share metric between the current periods and prior year periods. In the non-GAAP and other financial measures, earnings is defined as net income or net loss attributable to Cineplex excluding the change in fair value of financial instruments.

Per Patron Revenue Metrics
Cineplex reviews per patron metrics as they relate to box office revenue, theatre food service revenue and cinema media revenue such as BPP, CPP, BPP excluding premium priced product, concession margin per patron, and CMPP, as these are key measures used by investors to value and assess Cineplex’s performance, and are widely used in the theatre exhibition industry. Cineplex’s management defines these metrics as follows:

Theatre attendance: Theatre attendance is calculated as the total number of paying patrons that frequent Cineplex’s theatres during the period.

BPP: Calculated as total box office revenues divided by total paid theatre attendance for the period.

BPP excluding premium priced product: Calculated as total box office revenues for the period, less box office revenues from 3D, 4DX, UltraAVX, VIP, ScreenX, DBOX, and IMAX product; divided by total paid theatre attendance for the period, less paid theatre attendance for 3D, 4DX, UltraAVX, VIP, ScreenX, DBOX, and IMAX product.

CPP: Calculated as total theatre food service revenues divided by total paid theatre attendance for the period.

CMPP: Calculated as total cinema media revenues divided by total paid theatre attendance for the period.

Premium priced product: Defined as 3D, 4DX, UltraAVX, IMAX, ScreenX, DBOX, and VIP film product.

Theatre concession margin per patron: Calculated as total theatre food service revenues less total theatre food service cost, divided by theatre attendance for the period.

Same Theatre Analysis
Cineplex reviews and reports same theatre metrics relating to box office revenues, theatre food service revenues, theatre rent expense and theatre payroll expense, as these measures are widely used in the theatre exhibition industry as well as other retail industries.

Same theatre metrics are calculated by removing the results for all theatres that have been opened, acquired, closed or otherwise disposed of subsequent to the start of the prior year comparative period. For the three months ended June 30, 2026 and 2025, the impact of two locations that were closed or otherwise disposed of in 2025, and two locations that were closed or otherwise disposed of in 2026 have been excluded, resulting in 152 theatres being included in the same theatre metrics.

Same LBE Analysis
Cineplex reviews and reports same store LBE metrics relating to food service revenues, amusement revenues, media and other revenues, as these measures are widely used by comparable businesses in the industry.

Same store LBE metrics are calculated by removing the results for all LBE venues that have been opened, acquired, closed or otherwise disposed of subsequent to the start of the prior year comparative period. For the three months ended June 30, 2026 and 2025, no locations were disposed of in 2026 or 2025, and one location was opened in 2026, resulting in 16 LBE venues being included in the same store metrics.

Cost of sales percentages
Cineplex reviews and reports cost of sales percentages for its two largest revenue sources; box office revenues and food service revenues, as these measures are widely used in the theatre exhibition industry. These measures are reported as film cost percentage and concession cost percentage, respectively, and are calculated as follows:

Film cost percentage: Calculated as total film cost expense divided by total box office revenues for the period.

Theatre concession cost percentage: Calculated as total theatre food service costs divided by total theatre food service revenues for the period.

LBE food cost percentage: Calculated as total LBE food costs divided by total LBE food service revenues for the period.

Certain information included in this news release contains forward-looking statements within the meaning of applicable securities laws. These forward-looking statements include, among others, statements with respect to Cineplex’s objectives and goals, and the strategies to achieve those objectives and goals, as well as statements with respect to Cineplex’s beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words “may”, “will”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “plan”, “anticipate”, “estimate”, “expect”, “intend”, “forecast”, “objective” and “continue” (or the negative thereof), and words and expressions of similar import, are intended to identify forward-looking statements. 

By their very nature, forward-looking statements involve inherent risks and uncertainties, including those described in Cineplex’s Annual Information Form (“AIF”), Cineplex’s management’s discussion and analysis for the year ended December 31, 2025 (“Annual MD&A”) and in this news release, which is incorporated herein by reference and available on SEDAR+ (www.sedarplus.ca). These risks and uncertainties, both general and specific, give rise to the possibility that predictions, forecasts, projections and other forward-looking statements will not be achieved. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Cineplex cautions readers not to place undue reliance on these statements as a number of important factors, many of which are beyond Cineplex’s control, could cause actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, Cineplex’s expectations with respect to liquidity and capital expenditures, including its ability to meet its ongoing capital, operating and other obligations, and anticipated needs for, and sources of, funds; Cineplex’s ability to execute cost-cutting and revenue enhancement initiatives in response to adverse economic conditions; competition from alternative forms of entertainment and content delivery via streaming and other formats; any acquisition of a motion picture distributor which may reduce the amount onscreen content; any reduction in the length of theatrical release windows; the impacts of any pandemic, epidemic, natural disaster, governmental restrictions, strikes or the inability to procure materials and supplies; information concerning future purchases of Common Shares under Cineplex’s normal course issuer bid; the outcome of the litigation with respect to Cineplex’s online booking fee (described in further detail in the Annual MD&A); and risks generally encountered in the relevant industry, competition, customer, legal, taxation and accounting matters.

The foregoing list of factors that may affect future results is not exhaustive. When reviewing Cineplex’s forward-looking statements, readers should carefully consider the foregoing factors and other uncertainties and potential events. Additional information about factors that may cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the “Risks and Uncertainties” section of Cineplex’s Annual MD&A.

Cineplex does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable Canadian securities law. Additionally, Cineplex undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Cineplex, its financial or operating results or its securities. All forward-looking statements in this news release are made as of the date hereof and are qualified by these cautionary statements. Additional information, including Cineplex’s AIF and Annual MD&A, can be found on SEDAR+ at www.sedarplus.ca.

You are cordially invited to participate in a conference call with the management of Cineplex (TSX: CGX) to review our second quarter results. Ellis Jacob, President and Chief Executive Officer and Gord Nelson, Chief Financial Officer, will host the call scheduled for:

Cineplex Inc. Q2 2026 Earnings Webcast:

Date:	Tuesday, August 11, 2026
Time:	10:00 a.m. Eastern Daylight Time
Audio Webcast:	Audience URL https://edge.media-server.com/mmc/p/bz7749rd
	An archive of the webcast will be available at https://corp.cineplex.com/investors after the event

Please note, analysts who cover the Company should use the dial-in option to participate in the live question period. Click on the call link HERE and register for your unique PIN.

All attendees should join the event 5-10 minutes prior to the scheduled start time. Media are welcome to join in listen-only mode.

About Cineplex

Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. Cineplex offers a unique escape from the everyday to millions of guests through its circuit of 169 movie theatres and location-based entertainment venues. In addition to being Canada’s largest and most innovative film exhibitor, the company operates Canada’s favourite destination for ‘Eats & Entertainment’ (The Rec Room), complexes specially designed for teens and families (Playdium), and an entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion). It also operates successful businesses in cinema media (Cineplex Media), alternative programming (Cineplex Events) and motion picture distribution (Cineplex Pictures). Providing even more value for its guests, Cineplex is a partner in Scene+, Canada’s largest entertainment and lifestyle loyalty program.

Proudly recognized as having one of the country's Most Admired Corporate Cultures, Cineplex employs over 10,000 people in its offices and venues across Canada. To learn more, visit Cineplex.com.

For further information:

Investor Relations contact:
Mahsa Rejali
Vice President, Corporate Development & Investor Relations
InvestorRelations@Cineplex.com

Media Relations contact:
Michelle Saba, CPIR
Vice President, Communications
PressRoom@Cineplex.com                                  

_________________________
¹ _{From continuing operations}