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Falcon's Beyond Global, Inc. (FBYD+1.68%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net income of $149.5 million for the year, compared to a net loss of $430.9 million in the previous year. This improvement is largely attributed to a gain of $172.3 million from changes in the fair value of earnout liabilities.
Revenue for the year was $6.7 million, down from $18.2 million in the prior year. The decrease was primarily due to the deconsolidation of Falcon's Creative Group (FCG) and lower digital media services revenue.
Operating expenses totaled $22.6 million, a decrease from $75.4 million in 2023. The decrease was mainly due to lower project design and build expenses following the deconsolidation of FCG.
The company reported a share of loss from equity method investments of $3.1 million, compared to $52.5 million in the previous year. This was primarily due to the absence of impairment charges related to Sierra Parima in 2024.
Falcon's Beyond Global, Inc. has a working capital deficiency of $31.3 million and acknowledges substantial doubt about its ability to continue as a going concern. The company plans to address this through additional financing and asset sales.
The filing also details the company's strategic investment in FCG by Qiddiya Investment Company, which resulted in the deconsolidation of FCG on July 27, 2023.
Falcon's Beyond Global, Inc. continues to focus on expanding its Falcon's Creative Group and Falcon's Beyond Brands divisions, leveraging its partnerships and intellectual property to drive future growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Falcon's Beyond Global, Inc. annual 10-K report dated April 3, 2025. To report an error, please email earnings@qz.com.