Falcons Beyond Global Inc
FBYDBuild a strategy around FBYD
Falcons Beyond Global Inc AI Insights
Informational only. Not investment advice.Snapshot
- Working capital of -27M with current liabilities (38.9M) exceeding current assets (11.9M) by 3.3x signals severe near-term liquidity stress[Working Capital]
- FCF of -24.2M TTM burning through 5.7x total equity (9.2M) annually - cash runway critically short at 4.3M[Free Cash Flow TTM]
- P/S of 46.6x vs industry median 0.28x (166x premium) on 9.7M revenue with -183% operating margin[P/S Ratio]
Watch Triggers
- Cash and Equivalents: Falls below 2M or no financing announced — At current burn, 2M = ~3 months runway; triggers going concern risk
- Total Revenue TTM: Quarterly revenue below 2M (deceleration from 96% growth) — Growth thesis collapses if revenue momentum stalls while burning cash
- Current Liabilities: Increases above 45M without corresponding cash raise — Already 4.3x current assets; further increase signals vendor/creditor stress
Bull Case
Gross margin of 79.9% TTM demonstrates strong unit economics if scale achieved; revenue grew 96% YoY to 9.7M
Minimal capex (-135K TTM) means losses are operational, not structural - path to profitability via OpEx cuts theoretically exists
Bear Case
Operating margin -183% TTM with 25.5M OpEx on 9.7M revenue; would need 2.6x revenue at current costs just to break even
Debt/equity 2.02x with interest expense (3.9M TTM) consuming 40% of revenue; refinancing risk acute given losses
Bull vs Bear Balance
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Forward Thesis
Capital raise or restructuring required within 12 months to avoid insolvency
- Cash of 4.3M vs quarterly burn rate ~6M
- Current debt of 10.1M exceeds cash 2.4x
- Negative working capital of -27M
Valuation Context
Caveats
FBYD Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$1.99B | — | ||
$2.01B | — | ||
91 | — | ||
$18.56M | +167.6% | — | |
$0.18 | — | ||
-80.0% | +141.6% | — | |
54.6% | +37.2% | — | |
$-28.37M | — | ||
611% | — | ||
Beta 5Y (Monthly) | unknown | — |
FBYD Dividend History
FBYD Stock Splits
FBYD SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/14/26 | 03/31/26 | 10-Q | |
03/30/26 | 12/31/25 | 10-K | |
11/14/25 | 09/30/25 | 10-Q | |
08/14/25 | 06/30/25 | 10-Q | |
05/15/25 | 03/31/25 | 10-Q | |
04/03/25 | 12/31/24 | Unknown | |
11/14/24 | 09/30/24 | 10-Q | |
08/13/24 | 06/30/24 | 10-Q | |
05/16/24 | 03/31/24 | 10-Q | |
04/29/24 | 12/31/23 | 10-K | |
11/14/24 | 09/30/23 | 10-Q | |
09/15/23 | 06/30/23 | 424B3 | |
08/14/23 | 03/31/23 | S-4/A | |
09/15/23 | 12/31/22 | 424B3 | |
02/14/23 | 09/30/22 | S-4 | |
09/15/23 | 06/30/22 | 424B3 | |
08/14/23 | 03/31/22 | S-4/A | |
09/15/23 | 12/31/21 | 424B3 |