Falcon's Beyond Global (FBYD) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 was $5.6 million, up 120% year-over-year, driven by growth in the Attractions segment, product sales, and management fees.

• Net income for the quarter was a loss of $0.3 million, compared to net income of $25.1 million in Q2 2025, which included significant one-time gains from equity investments and asset sales.

• The company reversed $4.0 million in previously accrued transaction expenses related to the Business Combination, resulting in a transaction credit that improved operating results.

• Falcon's Attractions ended Q2 with a contracted pipeline of $28.4 million, reflecting strong business momentum.

• Unconsolidated subsidiaries contributed: Falcon's Creative Group (FCG) with $12.5 million in revenue and Producciones de Parques (PDP) with $6.5 million, both showing stable or slight growth.

Financial highlights

• Total revenue for the six months ended June 30, 2026 was $11.0 million, up from $4.3 million in the prior year period.

• Adjusted EBITDA for Q2 2026 was a loss of $5.2 million, excluding a $4.0 million reversal of accrued transaction expenses and a gain from partial liquidation of the Karnival JV.

• Cash and cash equivalents as of June 30, 2026 were $3.1 million, with total indebtedness of $16.5 million and a working capital deficit of $8.4 million.

• Q2 revenue breakdown: $4.0 million from services and $1.6 million from product sales.

• Total assets stood at $63.6 million, with total liabilities at $33.7 million and equity at $29.9 million as of June 30, 2026.

Outlook and guidance

• Management expects continued revenue growth from the Attractions segment, supported by a contracted pipeline of $28.4 million as of June 30, 2026.

• The company is actively pursuing additional financing and strategic alternatives to address liquidity needs and refinance short-term debt.

• Substantial doubt remains about the company's ability to continue as a going concern over the next twelve months without additional capital.