Company Reports Consolidated Revenue of $6.6 Million for Q4 and $14.9 Million for the full year
Company's Unconsolidated Subsidiary, Falcon's Creative Group, generated Q4 revenue of $14.4 Million and $38.7 Million for the full year
Company's Unconsolidated Joint Venture, Producciones de Parques ("PDP"), generated Q4 revenue of $2.1 Million and full year revenue of $31.4 Million
ORLANDO, Fla.--(BUSINESS WIRE)--March 30, 2026--
Falcon's Beyond Global, Inc. (Nasdaq: FBYD) ("Falcon's Beyond", "Falcon's" or the "Company"), a visionary entertainment and technology enterprise through its divisions Falcon's Creative Group ("FCG"), Falcon's Beyond Destinations ("FBD"), and Falcon's Beyond Brands ("FBB") today reported its financial results for the fourth quarter 2025 and fiscal year ended December 31, 2025.
Fourth Quarter 2025 Financial Results
Revenue:
-- Falcon's Beyond reported fourth quarter revenue of $6.6 million from
attraction services and product sales generated from its Falcon's
Attractions business, and from shared services and management fees earned
from its FCG and PDP joint ventures.
Equity Method Investments:
-- FCG generated $14.4 million in revenue in the fourth quarter of 2025,
representing a $5.0 million, or 53.5% increase over the corresponding
period of 2024. FCG recorded operating income of $3.7 million and net
income of $3.9 million in the fourth quarter of 2025. After the Qiddiya
Investment Company's (QIC) preferred return and amortization of basis
difference, Falcon's Beyond's share of net income from FCG was $2.1
million. FCG had a contracted pipeline of $41.6 million as it closed out
2025.
-- PDP generated revenue of $2.1 million, loss from operations of $0.7
million and net loss of $0.2 million in the fourth quarter of 2025. The
PDP business is seasonal with the fourth and first quarters of the fiscal
year representing periods in which the Mallorca property closes for the
winter season. Falcon's Beyond's share of net loss from PDP was $0.1
million for the fourth quarter of 2025.
Net Loss:
-- Falcon's Beyond reported a consolidated net loss of $0.3 million in the
fourth quarter of 2025 compared with consolidated net loss of $11.9
million for the corresponding quarter of 2024. The reduction in loss was
primarily driven by operating profits contributed by newly formed
Falcon's Attractions segment in 2025 and an increase in profitability
from the FCG segment.
Adjusted EBITDA:
-- Falcon's Beyond generated Adjusted EBITDA(1) of $0.2 million compared
to $12.0 million Adjusted EBITDA loss for the corresponding 2024 period.
The increase in Adjusted EBITDA is primarily due to the improved
performance of the FCG segment, the addition of the Falcon's Attractions
segment in 2025, and a reduction in interest expense due to the capital
restructuring that occurred in the second half of 2025.
Full Year 2025 Results
Revenue:
-- Falcon's Beyond reported annual revenue of $14.9 million, a $8.2
million increase over the prior year reflecting revenues generated from
the newly formed Falcon's Attractions business.
Equity Method Investments:
-- FCG generated $38.7 million in revenue in 2025, representing a $14.5
million decrease over 2024, primarily driven by timing of projects. FCG
recorded an operating loss of $0.1 million and net loss of $0.8 million
in 2025. After the Qiddiya Investment Company's (QIC) preferred return
and amortization of basis difference, Falcon's Beyond's share of net loss
from FCG was $7.2 million.
-- PDP generated revenue of $31.4 million, income from operations of $7.5
million, a $60.0 million gain from sale of Tenerife, and net income of
$64.8 million in 2025. Falcon's Beyond's share of net income from PDP was
$27.1 million including a $5.3 million impairment in the carrying value
of PDP following the sale of Tenerife.
Net Income:
-- Falcon's Beyond reported consolidated net income of $6.3 million in
2025, primarily driven by the share of the gain on sale of PDP's Tenerife
property, partially offset by operating losses from the integration and
expansion of the Falcon's Attractions business, and non-recurring
impairment charges of our investments in Karnival and PDP as we seek to
liquidate these non-core assets and investments.
Adjusted EBITDA:
-- Falcon's Beyond's generated adjusted EBITDA(1) loss of $17.3 million in
2025 primarily driven by the Company's investment in the integration and
expansion of the Falcon's Attractions business and our share of net
losses from our FCG equity method investment.
_____________________________________________________________________________________
(1) Adjusted EBITDA is a non-GAAP financial measure. See "Use and Definition of
Non-GAAP Financial Measure" below for more information and a reconciliation to the
most directly comparable GAAP measure.
Other Business Highlights
-- Settlement agreement. In November 2025, the Company entered into a
settlement agreement and release with FAST Sponsor II, LLC ("FAST") over
actions related the settlement of two term loans. The Company paid an
upfront payment of $2.5 million and is required to pay a deferred
settlement payment of up to $7.0 million on or before January 31, 2027.
Upon payment of the deferred settlement payment, FAST will forfeit
360,000 Class A shares and 375,000 Class A unvested market price-based
earnout shares.
-- Stock price-based earnout target. In December 2025, the Company
achieved the first stock price-based earnout trigger set forth in Earnout
Escrow agreement dated October 6, 2023. As a result 15,000,000 of the
outstanding 40,000,000 of the outstanding earnout shares and units were
earned and released to the beneficial owners of the shares.
"In 2025, we successfully expanded our physical attractions business, strengthened our balance sheet, divested of non-core assets, and redirected capital resources toward our highest-growth divisions," said Cecil D. Magpuri, Chief Executive Officer of Falcon's Beyond.
"As we move into 2026, our priority is disciplined scalable growth while preserving the creative and engineering excellence that defines our brands. We are actively evaluating complementary investment opportunities that enhance our capabilities and broaden our presence in immersive, media rich destinations and attractions."
About Falcon's Beyond
Falcon's Beyond is a visionary entertainment and technology enterprise at the forefront of the global experience economy. We design, develop, engineer, deliver, and commercialize immersive physical and digital experiences for leading brands, developers, and destination operators worldwide, as well as for our own portfolio of entertainment and technology concepts. Our business is built on an integrated experience platform that brings together creative development, proprietary technologies, advanced engineering, intellectual property ("IP"), and operational execution to enable the repeatable creation, deployment, and scaling of entertainment experiences across multiple formats and locations globally. We operate through three complementary business divisions:
-- Falcon's Creative Group provides creative and advisory services
including destination strategy, master planning, experiential and
attraction design, digital media, interactive software, IP development,
and creative guardianship for entertainment and hospitality
destinations.
-- Falcon's Beyond Brands encompasses a broad portfolio of intellectual
property, proprietary technologies, and operating businesses that design,
engineer, commercialize, and deploy entertainment systems, products,
content, and experiences across physical and digital environments.
-- Falcon's Beyond Destinations develops, owns, operates, and expands
entertainment venues, hospitality experiences, and branded destination
concepts across a variety of location--based formats, utilizing
proprietary and third--party intellectual property.
FALCON'S BEYOND and its related trademarks are owned by Falcon's Beyond.
Falcon's is headquartered in Orlando, Fla. Learn more at falconsbeyond.com.
Falcon's Beyond may use its website as a distribution channel of material Company information. Financial and other important information regarding the Company is routinely accessed through and posted on our website at https://investors.falconsbeyond.com.
In addition, you may automatically receive email alerts and other information about Falcon's when you enroll your email address by visiting the Email Alerts section at https://investors.falconsbeyond.com.
Cautionary Note Regarding Forward-Looking Statements
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