Falcon's Beyond Global, Inc. (NASDAQ: FBYD)

Falcon’s Beyond Global, Inc. is a visionary entertainment and technology enterprise at the forefront of the global experience economy. It designs, develops, engineers, delivers, and commercializes immersive physical and digital experiences for leading brands, developers, and destination operators worldwide, as well as for its own portfolio of entertainment and technology concepts. The company’s track record spans over 26 years supporting more than $144 billion worth of story‑driven development projects across 27 countries and it has received more than 56 prestigious industry awards for its creative and technical achievements. Falcon’s operates through an integrated experience platform that combines creative development, proprietary technologies, advanced engineering, intellectual property, and operational execution to enable the repeatable creation, deployment, and scaling of entertainment experiences across multiple formats and locations globally.

Revenue is generated primarily through three streams. Falcon’s Creative Group earns fees from professional services agreements tied to defined scopes of work and project milestones for destination strategy, master planning, attraction design, digital media, and creative guardianship. Falcon’s Attractions derives income from the design, engineering, manufacture, sale, installation, and after‑market support of proprietary ride systems and attraction hardware, leveraging decades of experience in attraction design and engineering. Falcon’s Beyond Destinations earns management fees, licensing fees, revenue‑sharing arrangements, and equity interests from the development and operation of location‑based entertainment venues and hospitality experiences. Additionally, the company generates revenue from shared services such as accounting, legal, human resources, and information technology provided to its affiliated entities.

The company operates through the following operating segments: Falcon’s Creative Group, Falcon’s Attractions, Falcon’s Beyond Destinations, Producciones de Parques S. L., and Destinations Operations.

• Falcon’s Creative Group: provides creative and advisory services including destination strategy, master planning, experiential and attraction design, digital media, interactive software, intellectual property development, and creative guardianship for entertainment and hospitality destinations, serving both third‑party clients and affiliated entities.

• Falcon’s Attractions: designs, engineers, manufactures, and sells proprietary and customized ride systems, attraction hardware, and related technologies for theme parks, location‑based entertainment venues, and destination developments worldwide; also offers engineering services, fabrication, integration, installation, and after‑market support.

• Falcon’s Beyond Destinations: develops, owns, operates, and expands entertainment venues, hospitality experiences, and branded destination concepts across various location‑based formats using proprietary and third‑party intellectual property; generates revenue via management fees, licensing fees, revenue‑sharing arrangements, and equity interests, focusing on asset‑efficient partnerships and joint ventures.

• Producciones de Parques S. L.: a joint venture that develops and operates hotel and theme park assets, having previously held interests in properties such as the Sol Tenerife Hotel before its disposition in 2025, primarily operating in Spain and other European markets.

• Destinations Operations: manages day‑to‑day operations of destination projects, providing operational oversight, guest services, and facility management for partnered venues to support speed‑to‑market and reduce capital intensity.

Within the experience economy, Falcon’s competes with independent themed‑entertainment design firms, ride‑system manufacturers, and destination operators. Its competitive advantages stem from an integrated platform that links creative intellectual property with proprietary technology and execution capabilities, a portfolio of over 140 issued patents and pending applications covering ride systems, immersive theaters, augmented reality, and gamification platforms, long‑term relationships with sovereign investors such as the Public Investment Fund and Qiddiya Investment Company, and the ability to offer end‑to‑end solutions from concept through operation while scaling concepts globally.

The company serves theme‑park operators, destination developers, hotel chains, leisure operators, museums, zoos, aquariums, cruise lines, media producers, and intellectual‑property holders, as well as its own portfolio. Notable customers include Qiddiya Investment Company and New Murabba Development Company, which together accounted for approximately 60% and 39% of Falcon’s Creative Group revenue in 2025, respectively. Additional clients consist of government‑backed developers, institutional investors, and private operators seeking immersive entertainment solutions.