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