6 results
10-K
2023 FY
FBYD
Falcon`s Beyond Global Inc - Ordinary Shares
29 Apr 24
Annual report
8:33am
Year ended December 31, 2023 | Year ended December 31, 2022 | |||||||
Cash flows from operating activities | ||||||||
Net loss | $ | (430,930) | $ | (17,428) | ||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Depreciation and amortization | 1,576 | 737 | ||||||
Deferred loss on sales to equity method investments | — | (174) | ||||||
Foreign exchange transaction loss | (367) | 484 | ||||||
Share of (gain) loss from equity method investments | 52,452 | (1,513) | ||||||
Gain on deconsolidation of FCG | (27,402) | — | ||||||
Change in deferred tax assets | (26) | — | ||||||
Credit loss expense ($5,965 and $0 related party for the year ended December 31, 2023 and 2022, respectively) | 5,965 | — | ||||||
Intangible asset impairment | 2,377 | — | ||||||
Change in fair value of earnouts | 345,413 | — | ||||||
Change in fair value of warrants | 2,972 | — | ||||||
Share based compensation expense | 68 | — | ||||||
Loss on disposal of fixed assets | — | 9 | ||||||
Changes in assets and liabilities: | ||||||||
Accounts receivable, net ($(5,680) and $(392) related party for the year ended December 31, 2023 and 2022, respectively) | (3,830) | (986) | ||||||
Other current assets | (904) | (453) | ||||||
Inventories | — | 203 | ||||||
Contract assets ($1,680 and $(1,547) related party for the year ended December 31, 2023 and 2022, respectively) | 466 | (2,228) | ||||||
Capitalization of ride media content | (78) | (1,250) | ||||||
Deferred transaction costs | 1,842 | (1,842) | ||||||
Operating lease assets and liabilities | (23) | — | ||||||
Other non-current assets ($(1,310) and $0 related party for the year ended December 31, 2023 and 2022 respectively) | (1,006) | (126) | ||||||
Accounts payable ($1,284 related party for the year ended December 31, 2023) | 3,791 | 4,305 | ||||||
Accrued expenses and other current liabilities ($(434) and $604 related party for the year ended December 31, 2023 and 2022 respectively) | 18,850 | 2,296 | ||||||
Other long-term payables | 5,500 | (70) | ||||||
Contract liabilities ($235 and $(1,715) related party for the year ended December 31, 2023 and 2022, respectively) | (128) | (1,254) | ||||||
Net cash used in operating activities | (23,422) | (19,290) | ||||||
Cash flows from investing activities | ||||||||
Purchase of property and equipment | (308) | (320) | ||||||
Proceeds from sale of equipment | 4 | — | ||||||
Cash inflow on deconsolidation of FCG | 2,577 | — | ||||||
Investments and advances to equity method investments | (1,991) | (25,790) | ||||||
Principal payments on notes receivable | — | 349 | ||||||
Advances to related party | — | (500) | ||||||
Net cash provided by (used in) investing activities | 282 | (26,261) | ||||||
Cash flows from financing activities | ||||||||
Principal payment on finance lease obligation | (106) | (185) | ||||||
Proceeds from debt – related party | — | 7,250 | ||||||
Repayment of debt – related party | (3,310) | (138) | ||||||
Repayment of debt – third party | (1,709) | (1,455) | ||||||
Proceeds from related party credit facilities | 18,439 | 7,200 | ||||||
Repayment of related party credit facilities | (4,146) | — | ||||||
Proceeds from exercised warrants | 4,173 | — | ||||||
Equity contributions – issuance of Predecessor membership units | 1,791 | 38,209 | ||||||
Net cash provided by financing activities | 15,132 | 50,881 | ||||||
Net (decrease) increase in cash and cash equivalents | (8,008) | 5,330 | ||||||
Foreign exchange impact on cash | 314 | (55) | ||||||
Cash and cash equivalents – beginning of period | 8,366 | 3,091 | ||||||
Cash and cash equivalents at end of year | $ | 672 | $ | 8,366 | ||||
Supplemental disclosures: | ||||||||
Cash paid for interest | $ | 1,341 | $ | 606 | ||||
Non-cash activities: | ||||||||
Debt to equity conversion – principal (See Note 10) | 11,893 | 19,846 | ||||||
Debt to equity conversion – accrued interest (See Note 10) | 131 | 154 | ||||||
Warrants to equity conversion | 6,809 | — | ||||||
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities (all new operating lease assets and liabilities have been deconsolidated as of July 27, 2023) | 514 | — | ||||||
Finance lease right-of-use assets obtained in exchange for new finance lease liabilities (all new finance lease assets and liabilities have been deconsolidated as of July 27, 2023) | 35 |
10-K
2023 FY
FBYD
Falcon`s Beyond Global Inc - Ordinary Shares
29 Apr 24
Annual report
8:33am
FALCON’S BEYOND GLOBAL, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands of U.S. dollars)
As of December 31, 2023 | As of December 31, 2022 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 672 | $ | 8,366 | ||||
Accounts receivable, net ($632 and $489 related party as of December 31, 2023 and 2022, respectively) | 696 | 3,309 | ||||||
Contract assets ($0 and $1,680 related party as of December 31, 2023 and 2022, respectively) | — | 2,692 | ||||||
Inventories | — | 407 | ||||||
Deferred transaction costs | — | 1,842 | ||||||
Other current assets | 1,061 | 842 | ||||||
Total current assets | 2,429 | 17,458 | ||||||
Investments and advances to equity method investments | 60,643 | 71,979 | ||||||
Operating lease right-of-use assets ($0 and $709 related party as of December 31, 2023 and 2022, respectively) | — | 1,003 | ||||||
Finance lease right-of-use assets ($0 and $570 related party as of December 31, 2023 and 2022, respectively) | — | 582 | ||||||
Property and equipment, net | 23 | 802 | ||||||
Intangible assets, net | — | 8,304 | ||||||
Goodwill | — | 11,471 | ||||||
Other non-current assets | 264 | 671 | ||||||
Total assets | $ | 63,359 | $ | 112,270 | ||||
Liabilities and stockholders’ equity (deficit)/members’ equity | ||||||||
Current liabilities: | ||||||||
Accounts payable ($1,357 and $73 related party as of December 31, 2023 and 2022, respectively) | $ | 3,852 | $ | 4,626 | ||||
Accrued expenses and other current liabilities ($475 and $737 related party as of December 31, 2023 and 2022, respectively) | 20,840 | 3,990 | ||||||
Contract liabilities ($0 and $600 related party as of December 31, 2023 and 2022, respectively) | — | 1,296 | ||||||
Current portion of long-term debt ($4,878 and $5,607 related party as of December 31, 2023 and 2022, respectively) | 6,651 | 7,408 | ||||||
Earnout liabilities – current portion | 183,055 | — | ||||||
Total current liabilities | 214,398 | 17,320 | ||||||
Operating lease liability, net of current portion ($0 and $675 related party as of December 31, 2023 and 2022, respectively) | — | 849 | ||||||
Other long term payables | 5,500 | — | ||||||
Long-term debt, net of current portion ($18,897 and $20,124 related party as of December 31, 2023 and 2022, respectively) | 22,965 | 25,737 | ||||||
Earnout liabilities | 305,586 | — | ||||||
Warrant liabilities | 3,904 | — | ||||||
Total liabilities | 552,353 | 43,906 | ||||||
Commitments and contingencies – Note 15 | ||||||||
Stockholders’ equity (deficit)/Members’ equity | ||||||||
Members’ capital | — | 94,201 | ||||||
Class A common stock ($0.0001 par value, 500,000,000 shares authorized; 7,871,643 issued and outstanding at December 31, 2023 and no shares were issued and outstanding as of December 31, 2022) | 1 | — | ||||||
Class B common stock ($0.0001 par value, 150,000,000 shares authorized; 52,034,117 issued and outstanding at December 31, 2023 and no shares were issued and outstanding as of December 31, 2022) | 5 | — | ||||||
Additional paid-in capital | 11,699 | — | ||||||
Accumulated deficit | (68,594) | (24,147) | ||||||
Accumulated other comprehensive loss | (216) | (1,690) | ||||||
Total equity attributable to common stockholders/Members’ equity | (57,105) | 68,364 | ||||||
Non-controlling interest | (431,889) | — | ||||||
Total equity | (488,994) | 68,364 | ||||||
Total liabilities and equity | $ | 63,359 | $ | 112,270 |
10-K
fjv1 np3yr
29 Apr 24
Annual report
8:33am
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