vs
Side-by-side financial comparison of C3.ai, Inc. (AI) and IMAX CORP (IMAX). Click either name above to swap in a different company.
IMAX CORP is the larger business by last-quarter revenue ($125.2M vs $75.1M, roughly 1.7× C3.ai, Inc.). IMAX CORP runs the higher net margin — 0.5% vs -139.3%, a 139.8% gap on every dollar of revenue. On growth, IMAX CORP posted the faster year-over-year revenue change (35.1% vs -20.3%). IMAX CORP produced more free cash flow last quarter ($28.0M vs $-46.9M). Over the past eight quarters, IMAX CORP's revenue compounded faster (25.8% CAGR vs -2.1%).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
IMAX Corporation is a Canadian production theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post-production and distribution to IMAX-affiliated theatres worldwide. Founded in Montreal in 1967, it has headquarters in the Toronto area, and operations in New York City and Los Angeles.
AI vs IMAX — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $125.2M |
| Net Profit | $-104.7M | $637.0K |
| Gross Margin | 40.4% | 57.6% |
| Operating Margin | -149.2% | 19.3% |
| Net Margin | -139.3% | 0.5% |
| Revenue YoY | -20.3% | 35.1% |
| Net Profit YoY | -58.7% | -88.0% |
| EPS (diluted) | $-0.75 | $0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.1M | $125.2M | ||
| Q3 25 | $70.3M | $106.7M | ||
| Q2 25 | $108.7M | $91.7M | ||
| Q1 25 | $98.8M | $86.7M | ||
| Q4 24 | $94.3M | $92.7M | ||
| Q3 24 | $87.2M | $91.5M | ||
| Q2 24 | $86.6M | $89.0M | ||
| Q1 24 | $78.4M | $79.1M |
| Q4 25 | $-104.7M | $637.0K | ||
| Q3 25 | $-116.8M | $20.7M | ||
| Q2 25 | $-79.7M | $11.3M | ||
| Q1 25 | $-80.2M | $2.3M | ||
| Q4 24 | $-66.0M | $5.3M | ||
| Q3 24 | $-62.8M | $13.9M | ||
| Q2 24 | $-72.9M | $3.6M | ||
| Q1 24 | $-72.6M | $3.3M |
| Q4 25 | 40.4% | 57.6% | ||
| Q3 25 | 37.6% | 63.1% | ||
| Q2 25 | 62.1% | 58.5% | ||
| Q1 25 | 59.1% | 61.4% | ||
| Q4 24 | 61.3% | 52.2% | ||
| Q3 24 | 59.8% | 55.8% | ||
| Q2 24 | 59.6% | 49.4% | ||
| Q1 24 | 57.8% | 59.3% |
| Q4 25 | -149.2% | 19.3% | ||
| Q3 25 | -177.7% | 27.2% | ||
| Q2 25 | -81.8% | 15.6% | ||
| Q1 25 | -88.7% | 19.3% | ||
| Q4 24 | -79.8% | 10.3% | ||
| Q3 24 | -83.2% | 21.2% | ||
| Q2 24 | -95.1% | 3.2% | ||
| Q1 24 | -105.3% | 15.3% |
| Q4 25 | -139.3% | 0.5% | ||
| Q3 25 | -166.2% | 19.4% | ||
| Q2 25 | -73.3% | 12.3% | ||
| Q1 25 | -81.2% | 2.7% | ||
| Q4 24 | -69.9% | 5.7% | ||
| Q3 24 | -72.0% | 15.2% | ||
| Q2 24 | -84.2% | 4.0% | ||
| Q1 24 | -92.6% | 4.1% |
| Q4 25 | $-0.75 | $0.02 | ||
| Q3 25 | $-0.86 | $0.37 | ||
| Q2 25 | $-0.60 | $0.20 | ||
| Q1 25 | $-0.62 | $0.04 | ||
| Q4 24 | $-0.52 | $0.09 | ||
| Q3 24 | $-0.50 | $0.26 | ||
| Q2 24 | $-0.59 | $0.07 | ||
| Q1 24 | $-0.60 | $0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $675.0M | $151.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $771.9M | $337.9M |
| Total Assets | $961.3M | $894.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $151.2M | ||
| Q3 25 | $711.9M | $143.1M | ||
| Q2 25 | $742.7M | $109.3M | ||
| Q1 25 | $724.3M | $97.1M | ||
| Q4 24 | $730.4M | $100.6M | ||
| Q3 24 | $762.5M | $104.5M | ||
| Q2 24 | $750.4M | $91.6M | ||
| Q1 24 | $723.3M | $81.0M |
| Q4 25 | $771.9M | $337.9M | ||
| Q3 25 | $798.8M | $349.5M | ||
| Q2 25 | $838.3M | $320.4M | ||
| Q1 25 | $860.2M | $299.5M | ||
| Q4 24 | $859.0M | $299.5M | ||
| Q3 24 | $874.9M | $289.4M | ||
| Q2 24 | $873.4M | $267.2M | ||
| Q1 24 | $898.0M | $258.8M |
| Q4 25 | $961.3M | $894.0M | ||
| Q3 25 | $968.7M | $889.6M | ||
| Q2 25 | $1.0B | $868.6M | ||
| Q1 25 | $1.1B | $848.3M | ||
| Q4 24 | $1.0B | $830.4M | ||
| Q3 24 | $1.1B | $847.6M | ||
| Q2 24 | $1.0B | $827.4M | ||
| Q1 24 | $1.1B | $824.1M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-46.5M | $29.4M |
| Free Cash FlowOCF − Capex | $-46.9M | $28.0M |
| FCF MarginFCF / Revenue | -62.4% | 22.3% |
| Capex IntensityCapex / Revenue | 0.5% | 1.1% |
| Cash ConversionOCF / Net Profit | — | 46.11× |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $118.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $29.4M | ||
| Q3 25 | $-33.5M | $67.5M | ||
| Q2 25 | $11.3M | $23.2M | ||
| Q1 25 | $-22.0M | $7.0M | ||
| Q4 24 | $-38.7M | $11.5M | ||
| Q3 24 | $8.0M | $35.3M | ||
| Q2 24 | $21.3M | $35.0M | ||
| Q1 24 | $-39.1M | $-11.0M |
| Q4 25 | $-46.9M | $28.0M | ||
| Q3 25 | $-34.3M | $64.8M | ||
| Q2 25 | $10.3M | $20.9M | ||
| Q1 25 | $-22.4M | $5.3M | ||
| Q4 24 | $-39.5M | $6.9M | ||
| Q3 24 | $7.1M | $34.2M | ||
| Q2 24 | $18.8M | $33.5M | ||
| Q1 24 | $-45.1M | $-12.1M |
| Q4 25 | -62.4% | 22.3% | ||
| Q3 25 | -48.8% | 60.7% | ||
| Q2 25 | 9.5% | 22.8% | ||
| Q1 25 | -22.7% | 6.1% | ||
| Q4 24 | -41.9% | 7.4% | ||
| Q3 24 | 8.2% | 37.3% | ||
| Q2 24 | 21.7% | 37.6% | ||
| Q1 24 | -57.6% | -15.3% |
| Q4 25 | 0.5% | 1.1% | ||
| Q3 25 | 1.1% | 2.6% | ||
| Q2 25 | 0.9% | 2.6% | ||
| Q1 25 | 0.4% | 1.9% | ||
| Q4 24 | 0.9% | 5.0% | ||
| Q3 24 | 1.1% | 1.2% | ||
| Q2 24 | 2.9% | 1.8% | ||
| Q1 24 | 7.8% | 1.4% |
| Q4 25 | — | 46.11× | ||
| Q3 25 | — | 3.27× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 2.99× | ||
| Q4 24 | — | 2.16× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | — | 9.78× | ||
| Q1 24 | — | -3.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
