Falcon's Beyond (FBYD) - 2025 Q1 - Quarterly Results

Revenue Performance - Falcon's Beyond reported consolidated revenue of $1.4 million for Q4 2024 and$6.7 million for the full year 2024[1][2]. - Falcon's Creative Group (FCG) achieved Q4 revenue of $9.4 million, a 195$53.2 million, a 136% increase year-over-year[2][8]. - Producciones de Parques (PDP) generated Q4 revenue of $9.1 million and full year revenue of$45.7 million, with a net income of $0.3 million for Q4 2024 compared to a net loss of$6.8 million in Q4 2023[3][8]. - Total revenue for the year ended December 31, 2024, was $6,745,000, a decrease of 63.0$18,244,000 for the year ended December 31, 2023[30]. Net Income and Loss - Consolidated net loss for Falcon's Beyond decreased to $(11.9) million in Q4 2024 from$(416.6) million in Q4 2023, primarily due to a $345.4 million change in fair value of earnout liabilities[4][9]. - For the full year 2024, Falcon's Beyond's consolidated net income increased to$149.5 million from a net loss of $(430.9) million in 2023[9]. - Net loss attributable to common stockholders for the year ended December 31, 2024, was$22,057,000, compared to a net loss of $47,604,000 for the year ended December 31, 2023[30]. Cash Flow and Assets - Cash and cash equivalents increased to$825,000 as of December 31, 2024, from $672,000 as of December 31, 2023, representing a 22.7$4,134,000 as of December 31, 2024, compared to $2,429,000 as of December 31, 2023, marking a 70.3$12,552,000 for the year ended December 31, 2024, compared to $23,422,000 for the year ended December 31, 2023[32]. Liabilities and Expenses - Total liabilities decreased significantly to$81,328,000 as of December 31, 2024, from $552,353,000 as of December 31, 2023[28]. - Operating expenses for the year ended December 31, 2024, were$22,612,000, down from $75,402,000 for the year ended December 31, 2023, a reduction of 70.0$9,540,000 as of December 31, 2024, from $3,852,000 as of December 31, 2023[27]. Adjusted EBITDA - Adjusted EBITDA loss for Q4 2024 was$(12.0) million, an increase of $1.5 million compared to$(10.5) million loss in Q4 2023[5][10]. - Adjusted EBITDA for the year ended December 31, 2024, was $(20,040,000), an improvement from$(33,151,000) for the year ended December 31, 2023[34]. Strategic Initiatives - Falcon's Beyond aims to expand its global footprint and strengthen IP-driven experiences in fiscal 2025[14]. - The company plans to accelerate strategic partnerships as part of its long-term vision[14]. - FCG's contracted pipeline as of December 31, 2024, was valued at $36.4 million[8]. Shareholder Actions - The company declared a stock dividend of 0.2 shares per Class A Common Stock, distributed on December 17, 2024[13]. - The weighted average shares outstanding, basic, increased to 12,539,377 for the year ended December 31, 2024, compared to 8,514,245 for the year ended December 31, 2023[30].