4 unchanged sentences
The Company faces risks in connection with its significant presence in China and the continued expansion of its business there.
−Removed: Greater China is the Company’s largest market by revenue, with approximately 26% of overall revenues generated from its Greater China operations for the six months ended June 30, 2024.
−Removed: As of June 30, 2024, the Company had 803 IMAX Systems operating in Greater China with an additional 263 systems in backlog, which represent 52% of the Company’s current backlog.
+Added: Greater China is the Company’s largest market by revenue, with approximately 25% of overall revenues generated from its Greater China operations for the nine months ended September 30, 2024.
+Added: As of September 30, 2024, the Company had 808 IMAX Systems operating in Greater China with an additional 254 systems in backlog, which represent 54% of the Company’s current backlog.
Of the IMAX Systems currently scheduled to be installed in Greater China, 80% are under joint revenue sharing arrangements, which further increases the Company’s ongoing exposure to box office performance in this market.
15 unchanged sentences
The Company may not convert all of its backlog into revenue and cash flows.
−Removed: As of June 30, 2024, the Company’s backlog included 504 IMAX Systems, consisting of 177 IMAX Systems under sales or lease arrangements and 327 IMAX Systems under joint revenue sharing arrangements.
+Added: As of September 30, 2024, the Company’s backlog included 472 IMAX Systems, consisting of 170 IMAX Systems under sales or lease arrangements and 302 IMAX Systems under joint revenue sharing arrangements.
The Company lists signed contracts for IMAX Systems for which revenue has not been recognized as backlog prior to the time of revenue recognition.
12 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.