Sep 13, 2023 / 06:50PM GMT
Jessica Jean Reif Ehrlich Cohen - BofA Securities, Research Division - MD in Equity Research
All right. We'll get started with Rich Gelfond, the CEO of IMAX Corporation. And it's really great to have you back with us.
Questions and Answers:
Jessica Jean Reif Ehrlich Cohen - BofA Securities, Research Division - MD in Equity ResearchSo Rich, you've managed your business extremely well throughout all the turbulence since 2020, and it's been a hells ride. What does the market not understand about IMAX?
Richard Lewis Gelfond - IMAX Corporation - CEO & Director
A lot, but I'll make it brief. Because we show movies around the world in theaters, the market somehow thinks we're an exhibitor, but we have less in common with exhibition than almost any industry. I know IMAX has a very strong balance sheet, no net debt. IMAX licenses technology to theaters. We also license movies from studios, and our model is based on license revenue almost completely.
We're almost like a technology software company because