| Net Income Per Share |
The weighted average shares of common stock outstanding used to determine the Company’s Net income per share reflects the following:
|
|
|
|
|
|
|
|
|
|
|
Year ended |
|
(amounts in thousands, except number of shares and amount per share) |
|
December 31,
2025 |
|
|
December 31,
2024 |
|
Numerator: |
|
|
|
|
|
|
Net income |
|
$ |
6,312 |
|
|
$ |
149,481 |
|
Net income attributable to noncontrolling interests |
|
|
2,921 |
|
|
|
127,424 |
|
Series B Preferred Stock dividends |
|
|
(1,040 |
) |
|
|
— |
|
|
|
|
|
|
|
|
Net income available to Class A common stockholders |
|
|
2,351 |
|
|
|
22,057 |
|
Adjustment for dilutive RSUs |
|
|
— |
|
|
|
2 |
|
Adjustment for dilutive warrants |
|
|
(1,230 |
) |
|
|
— |
|
Adjustment for dilutive earnout units at Falcon’s Beyond Global, LLC |
|
|
— |
|
|
|
(4,100 |
) |
Dilutive net income attributable to Class A common stockholders |
|
$ |
1,121 |
|
|
$ |
17,959 |
|
Denominator: |
|
|
|
|
|
|
Weighted average Class A common stock outstanding - basic |
|
|
39,209,147 |
|
|
|
12,539,377 |
|
Adjustment for dilutive RSUs |
|
|
— |
|
|
|
1,353 |
|
Adjustment for dilutive warrants |
|
|
46,738 |
|
|
|
— |
|
Adjustment for dilutive Class A earnout shares |
|
|
— |
|
|
|
185,446 |
|
Weighted average Class A common stock outstanding – diluted |
|
|
39,255,885 |
|
|
|
12,726,176 |
|
|
|
|
|
|
|
|
Net income per Class A common share - basic: |
|
|
0.06 |
|
|
|
1.76 |
|
Net income per Class A common share – diluted: |
|
|
0.03 |
|
|
|
1.41 |
|
The following securities were not included in the computation because the effect would be anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period:
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|
|
|
|
|
|
|
|
|
|
Year ended |
|
|
|
December 31,
2025 |
|
|
December 31,
2024 |
|
Class A earnout shares |
|
|
625,000 |
|
|
|
1,000,000 |
|
Class B earnout shares |
|
|
24,375,000 |
|
|
|
39,000,000 |
|
Series B Preferred Stock shares |
|
|
6,715,721 |
|
|
|
— |
|
Warrants to purchase common stock |
|
|
— |
|
|
|
5,177,089 |
|
RSUs |
|
|
626,250 |
|
|
|
965,165 |
|
Class A shares subject to forfeiture under the deferred settlement agreement |
|
|
360,000 |
|
|
|
— |
|
375,000 of the unvested Class A earnout shares are subject to forfeiture under the deferred settlement agreement.
|