Falcon’s Beyond Global (NASDAQ:FBYD), a prominent player in immersive storytelling and entertainment through its Creative Group (FCG), Destinations (FBD), and Brands (FBB) divisions, today released its financial results for the fourth quarter and the full fiscal year ended December 31, 2024.
The company reported a dramatic turnaround in annual performance, posting a consolidated net income of $149.5 million for the full year 2024.
This represents a massive improvement of $580.4 million compared to the consolidated net loss of $(430.9) million recorded for the fiscal year 2023.
Full-year consolidated revenues for 2024 came in at $6.7 million, generated from corporate and shared services fees from its FCG division and management fees from its Producciones de Parques (PDP) joint venture with Melia Hotels.
In the fourth quarter of 2024, Falcon’s Beyond generated consolidated revenues of $1.4 million from the aforementioned fee sources.
A key highlight for the quarter was the performance of the Falcon’s Creative Group (FCG) division, which recorded revenues of $9.4 million.
This marked a substantial increase of $4.6 million, or 195%, compared to the same period in 2023.
Furthermore, the company significantly narrowed its consolidated net loss in the fourth quarter.
The net loss for Q4 2024 was $11.9 million, a considerable improvement compared to the net loss of $416.6 million reported in Q4 2023.
Falcon's Beyond attributed this $404.7 million positive change primarily to a $345.4 million favourable year-over-year change in the fair value of earnout liabilities, a $15.7 million decrease in operating losses, a $42.7 million decrease in losses from equity method investments, and a $3.8 million positive change in the fair value of warrant liabilities.