Three months ended June 30, 2026

Falcon’s

Falcon's Beyond Destinations

Falcon's Beyond Brands

Creative
Group

Destinations Operations

PDP

Falcon's Attractions

Other

Segment Total

Revenue external customers:

Services

$

12,508

$

147

$

—

$

1,983

$

—

$

14,638

Product sales

—

—

—

1,616

—

1,616

Total revenue

12,508

147

—

3,599

—

16,254

Reconciliation of revenue

Revenue corporate unallocated

1,872

Revenue FCG

(12,508

)

Total consolidated revenue

5,618

Project design and build expense

(6,928

)

—

—

(1,050

)

—

Cost of product sales

—

—

—

(1,029

)

—

Selling, general and administrative

(4,551

)

(300

)

—

(2,579

)

(141

)

Share of gain (loss) from equity method investments, excluding gain on excess distributions over investment of Karnival

—

—

189

—

—

Segment income (loss) from operations

$

1,029

$

(153

)

$

189

$

(1,059

)

$

(141

)

$

(135

)

Three months ended June 30, 2025

Falcon’s

Falcon's Beyond Destinations

Falcon's Beyond Brands

Creative
Group

Destinations Operations

PDP

Falcon's Attractions

Other

Segment Total

Revenue external customers:

Services

$

12,319

$

146

$

—

$

645

$

—

$

13,110

Product sales

—

—

—

157

—

157

Total revenue

12,319

146

—

802

—

13,267

Reconciliation of revenue

Revenue corporate unallocated

1,601

Revenue FCG

(12,319

)

Total consolidated revenue

2,549

Project design and build expense

(7,376

)

—

—

(348

)

—

Cost of product sales

—

—

—

(83

)

—

Selling, general and administrative

(2,166

)

(333

)

—

(1,836

)

(269

)

Research and development expense

(2

)

(88

)

—

—

—

Share of gain (loss) from equity method investments, excluding gain on Tenerife Sale and impairment of PDP

—

20

714

—

—

Segment income (loss) from operations

$

2,775

$

(255

)

$

714

$

(1,465

)

$

(269

)

$

1,500

Six months ended June 30, 2026

Falcon’s

Falcon's Beyond Destinations

Falcon's Beyond Brands

Creative
Group

Destinations Operations

PDP

Falcon's Attractions

Other

Segment Total

Revenue external customers:

Services

$

25,533

$

147

$

—

$

3,721

$

—

$

29,401

Product sales

—

—

—

3,318

—

3,318

Total revenue

25,533

147

—

7,039

—

32,719

Reconciliation of revenue

Revenue corporate unallocated

3,808

Revenue FCG

(25,533

)

Total consolidated revenue

10,994

Project design and build expense

(15,554

)

—

—

(1,994

)

(1

)

Cost of product sales

—

—

—

(2,158

)

—

Selling, general and administrative

(8,200

)

(567

)

—

(5,108

)

(302

)

Share of gain (loss) from equity method investments, excluding gain on excess distributions over investment of Karnival

—

25

(234

)

—

—

Segment income (loss) from operations

$

1,779

$

(395

)

$

(234

)

$

(2,221

)

$

(303

)

$

(1,374

)

Six months ended June 30, 2025

Falcon’s

Falcon's Beyond Destinations

Falcon's Beyond Brands

Creative
Group

Destinations Operations

PDP

Falcon's Attractions

Other

Segment Total

Revenue external customers:

Services

$

18,590

$

146

$

—

$

731

$

—

$

19,467

Product sales

—

—

—

157

—

157

Total revenue

18,590

146

—

888

—

19,624

Reconciliation of revenue

Revenue corporate unallocated

3,223

Revenue FCG

(18,590

)

Total consolidated revenue

4,257

Project design and build expense

(12,770

)

—

—

(454

)

—

Cost of product sales

—

—

—

(83

)

—

Selling, general and administrative

(5,534

)

(614

)

—

(3,089

)

(422

)

Research and development expense

(2

)

(206

)

—

—

—

Share of gain (loss) from equity method investments, excluding gain on Tenerife Sale and impairment of PDP

—

54

1,188

—

—

Segment income (loss) from operations

$

284

$

(620

)

$

1,188

$

(2,738

)

$

(422

)

$

(2,308

)

Three months ended

Six months ended

June 30,
2026

June 30,
2025

June 30,
2026

June 30,
2025

Segment income (loss) from operations

$

(135

)

$

1,500

$

(1,374

)

$

(2,308

)

Unallocated corporate overhead

(2,779

)

(2,599

)

(5,622

)

(5,586

)

Elimination FCG segment income (loss) from operations

(1,029

)

(2,775

)

(1,779

)

(284

)

Share of income (loss) from FCG

(1,237

)

688

(1,055

)

(3,883

)

Transaction credit

4,000

3,299

15,057

1,778

Depreciation and amortization expense

(130

)

(40

)

(264

)

(44

)

Share of equity method investee's gain on Tenerife Sale

—

29,755

—

29,755

Impairment of PDP

—

(5,332

)

—

(5,332

)

Gain on excess distributions over investment of Karnival

1,201

—

1,201

—

Interest expense

(218

)

(841

)

(392

)

(2,174

)

Interest income

7

2

13

5

Change in fair value of warrant liabilities

—

—

—

2,886

Foreign exchange transaction gain (loss)

2

1,455

18

2,207

Net income (loss) before taxes

$

(318

)

$

25,112

$

5,803

$

17,020