Falcon's Beyond Global (FBYD) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue was $7.289M, up 80% YoY from $4.054M; 9M revenue reached $18.283M vs. $8.311M.

• Q3 net loss narrowed to $7.663M from $10.412M; 9M net loss was $1.860M vs. $6.608M net income in 2025.

• 9M operating cash flow was positive $2.114M, but a $9.3M working capital deficit and ongoing funding needs leave substantial doubt about going concern.

• Q3 Adjusted EBITDA loss improved to $7.358M from $7.686M; 9M loss was $18.793M vs. $17.540M.

Financial highlights

• Q3 operating loss narrowed to $3.364M from $3.684M; 9M operating income was $2.863M vs. an $11.372M loss, including a reported $15.1M transaction credit from reversal of previously accrued Business Combination expenses.

• Q3 net loss attributable to common stockholders was $3.858M; loss per share was $0.09 vs. $0.13 YoY.

• 9M loss per share was $0.05 vs. $0.07 in 2025.

• Q3 share of loss from equity-method investments was $4.146M vs. $6.840M; 9M share of loss was $4.209M vs. a $14.944M gain.

Outlook and guidance

• Remaining performance obligations were $28.0M at September 30; 93% is expected to be recognized as revenue within 12 months.

• Contracted pipelines were $17.1M for Falcon’s Attractions, $10.9M for Falcon’s Beyond Creative and $13.0M for FCG; revenue timing may extend across multiple fiscal years.

• The VAI project is underway, combining creative design, engineering and attraction delivery capabilities.

• Capital expenditures and working capital needs are expected to increase materially; anticipated funding sources include cash, credit capacity, operating cash flow, investee distributions, financing and asset monetization.