Falcon's Beyond Global, Inc. reported a revenue of $14.9 million for the fiscal year ending December 31, 2025, compared to $6.7 million in 2024, representing an increase of $8.2 million. The company experienced a loss from operations of $13.4 million, a decrease of $2.5 million compared to the $15.9 million loss in the previous fiscal year. Net income for 2025 was $6.3 million, a significant change from the $149.5 million net income reported in 2024, primarily due to a $172.3 million gain from the change in fair value of earnout liabilities in 2024.
Strategic developments in 2025 included the acquisition of Oceaneering Entertainment Systems (OES) assets, integrated into the Falcon's Attractions segment, for $1.6 million in cash consideration. The company also completed the disposition of the Sol Tenerife Hotel through its joint venture PDP, generating $27 million in net proceeds. Conversely, the company terminated the Karnival joint venture and its licensing agreement with The Hershey Company. These actions reflect a strategic shift towards asset-efficient operations and growth in the FCG and FBB divisions.
Key operational indicators show that Falcon's Creative Group (FCG) had two major customers, Qiddiya Investment Company (QIC) and New Murabba Development Company (NMDC), accounting for 60% and 39% of FCG's revenue, respectively. Falcon's Attractions generated 28% of the company's revenue from product sales and services to a themed entertainment operator. The company's intellectual property portfolio includes 142 patents and 64 pending applications as of December 31, 2025, covering attraction systems and experiential technologies. Employee headcount stood at 243 full-time employees, with 209 based in Orlando and 34 in the Philippines.
The company's financial statements include a going concern note, indicating substantial doubt about its ability to continue as a going concern due to recurring net losses and negative cash flows. Management plans to address this by securing additional financing and implementing strategic and operational actions. The company also identified material weaknesses in its internal controls over financial reporting, which it is actively working to remediate. The company's Class A common stock had a market value of approximately $56.4 million as of June 30, 2025, with 48,949,742 shares outstanding as of March 30, 2026.
About Falcon's Beyond Global, Inc.
Falcon’s Beyond Global, Inc. is a leader in immersive storytelling, designing theme parks, developing engaging content, and bringing brands to life through innovative technology. Its core divisions create master plans, attractions, and experiential entertainment, while leveraging proprietary IP and strategic partnerships worldwide. The company focuses on location-based experiences, digital content, licensing, and merchandise, offering integrated, high-quality entertainment solutions across global markets.
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