Latest news with #FCG
Yahoo
2 days ago
- Science
- Yahoo
Safer, long-lasting lithium battery built with breakthrough method to boost EV efficiency
Scientists have developed a novel approach that can help create safer and long-lasting lithium-ion batteries. Combined with an automated reactor system, the mathematical x-framework allows unlimited customization of full concentration gradient (FCGs) with independent parameter control, leading to lithium-ion batteries (LIBs) with enhanced safety and stability."Unlike conventional methods, where adjusting one parameter affects the others, our approach allows independent and precise control over multiple descriptors, including average composition, slope, and curvature," said Hyun Deog Yoo, Associate Professor from the Department of Chemistry and the Institute for Future Earth at Pusan National University, Korea. Enhanced performance of lithium-ion batteries At a time when the demand for electric vehicles is on the rise, researchers are working to enhance the performance of lithium-ion batteries (LIBs).The performance and stability of LIBs largely depend on the cathode material, which can account for nearly 40–45% of the total battery cost. Among cutting-edge technologies, high-nickel cathodes stand out for their high energy density and cost efficiency. However, increasing the nickel content also intensifies side reactions, severely compromising interfacial robustness and mechanical integrity—factors that limit large-scale applications, according to researchers. Promising solution Scientists revealed that a promising solution is the use of full concentration gradient (FCG) or core–shell pointed out that traditionally, FCG cathodes are synthesized via a coprecipitation method involving two tanks of metal precursor first tank, rich in nickel (Ni), feeds directly into the reactor. The second tank, containing cobalt (Co) and manganese (Mn), is mixed into the first to reduce the Ni concentration over time. In conventional systems, the flow rate of this second tank is fixed, meaning only one specific gradient can be achieved for a given average composition, according to a press release. In the study, researchers revealed that they overcame this limitation by expressing the flow rate of the second tank as a time-dependent mathematical function. This innovation allows independent tuning of the average composition, slope, and curvature—enabling the generation of a virtually unlimited range of concentration gradients using just two tanks. Integrating approach with an automated reactor system By integrating this approach with an automated reactor system, the team successfully synthesized five FCG Ni0.8Co0.1Mn0.1(OH)2 precursors with finely tuned gradients, verified through two- and three-dimensional elemental mapping, according to the experiment. "For this purpose, we assembled an outstanding international research team, collaborating with laboratories at the University of Illinois Chicago, Argonne National Laboratory, and several institutes across Korea and the United States," said Dr. Yoo. "My lab focused on designing and synthesizing FCG cathodes, while most of the 2D and 3D imaging analyses were conducted by the groups of Prof. Jordi Cabana and Prof. Robert F. Klie. We feel truly privileged to have been part of such a remarkable collaboration." Solve the daily Crossword
Yahoo
21-05-2025
- Business
- Yahoo
Should You Invest in the First Trust Natural Gas ETF (FCG)?
The First Trust Natural Gas ETF (FCG) was launched on 05/08/2007, and is a passively managed exchange traded fund designed to offer broad exposure to the Energy - Natural Gas segment of the equity market. An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors. Investor-friendly, sector ETFs provide many options to gain low risk and diversified exposure to a broad group of companies in particular sectors. Energy - Natural Gas is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 16, placing it in bottom 0%. The fund is sponsored by First Trust Advisors. It has amassed assets over $336.35 million, making it one of the larger ETFs attempting to match the performance of the Energy - Natural Gas segment of the equity market. FCG seeks to match the performance of the ISE-REVERE Natural Gas Index before fees and expenses. The ISE-Revere Natural Gas Index is an equal-weighted index comprised of exchange-listed companies that derive a substantial portion of their revenues from the exploration and production of natural gas. Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same. Annual operating expenses for this ETF are 0.60%, making it on par with most peer products in the space. It has a 12-month trailing dividend yield of 3.54%. While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis. This ETF has heaviest allocation in the Energy sector--about 97.50% of the portfolio. Looking at individual holdings, Eqt Corporation (EQT) accounts for about 4.95% of total assets, followed by Conocophillips (COP) and Expand Energy Corporation (EXE). The top 10 holdings account for about 43.65% of total assets under management. The ETF has lost about -7.36% so far this year and is down about -15.47% in the last one year (as of 05/21/2025). In that past 52-week period, it has traded between $19.37 and $27.63. The ETF has a beta of 0.87 and standard deviation of 32.30% for the trailing three-year period, making it a high risk choice in the space. With about 42 holdings, it has more concentrated exposure than peers. First Trust Natural Gas ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, FCG is a reasonable option for those seeking exposure to the Energy ETFs area of the market. Investors might also want to consider some other ETF options in the space. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Trust Natural Gas ETF (FCG): ETF Research Reports ConocoPhillips (COP) : Free Stock Analysis Report EQT Corporation (EQT) : Free Stock Analysis Report Expand Energy Corporation (EXE) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
15-05-2025
- Business
- Yahoo
Falcon's Beyond Reports First Quarter 2025 Financial Results
Company Reports Consolidated Revenue of $1.7 Million Company's Unconsolidated Subsidiary, Falcon's Creative Group generated Q1 Revenue of $6.3 Million Company's Unconsolidated Joint Venture, Producciones de Parques, generated Q1 revenue of $7.2 Million ORLANDO, Fla., May 15, 2025--(BUSINESS WIRE)--Falcon's Beyond Global, Inc. (Nasdaq: FBYD) ("Falcon's Beyond", "Falcon's" or the "Company"), a visionary leader in innovative and immersive storytelling through its divisions Falcon's Creative Group ("FCG"), Falcon's Beyond Destinations ("FBD"), and Falcon's Beyond Brands ("FBB") today reported its financial results for the first quarter of fiscal year 2025 ended March 31, 2025. First Quarter 2025 Financial Results Revenue: Falcon's Beyond generated consolidated revenues of $1.7 million for the three months ended March 31, 2025, representing fees for corporate and shared services earned from its FCG division, management fees from its Producciones de Parques, S.L. ("PDP") 50:50 joint venture with Melia Hotels Int'l, and attraction maintenance service fees from its Falcon's Beyond Brands division. FCG recorded revenues of $6.3 million in the three months ended March 31, 2025, representing a decrease of $8.6 million, or 57.7%, over the corresponding period of 2024 primarily due to timing of projects. FCG recorded an operating loss of ($2.8) million and a net loss of ($3.0) million in the three months ended March 31, 2025, compared with an operating income of $1.6 million and net income of $1.8 million for the corresponding 2024 period. After the Qiddiya Investment Company (QIC) preferred return and amortization of basis difference, Falcon's Beyond's share of net loss from FCG was $(4.6) million in the three months ended March 31, 2025. PDP recognized revenues of $7.2 million in the three months ended March 31, 2025, a $0.2 million decrease over the corresponding period of 2024, primarily due to the impact of foreign currency translation of the results of the European joint venture. Income from operations increased $0.3 million to $1.6 million for the three months ended March 31, 2025, compared with operating income of $1.3 million for the corresponding period of 2025. Net income was flat at $1.0 million for the three months ended March 31, 2025, and March 31, 2024. Falcon's Beyond's share of income was $0.5 million from PDP for three months ended March 31, 2025. Net Income: Falcon's Beyond's consolidated net loss of $ (8.1) million for the three months ended March 31, 2025, decreased $122.1 million compared with the corresponding 2024 period, primarily driven by a $118.6 million quarter-over-quarter change in the fair value of earnout liabilities, $1.5 million of transaction expenses related to the Company's S-1 filings in 2025, a $5.2 million increase in share of losses from equity method investments, and a $1.1 million increase in interest expense, partially offset by a $2.7 million quarter-over-quarter change in fair value of warrant liabilities, $1.1 million increase in unrealized foreign currency transactional gains and $0.5 million decrease in other expenses. EBITDA: Falcon's Beyond's adjusted EBITDA(1) loss increased $3.6 million to $(8.1) million loss for the three months ended March 31, 2025, compared with $(4.5) million loss for the corresponding 2024 period. Adjusted EBITDA loss for the three months ended March 31, 2024, was primarily driven by a $5.2 million increase in in share of losses from equity method investments, partially offset by a $1.1 million increase in unrealized foreign currency transactional gains and $0.5 million decrease in other expenses. (1) Adjusted EBITDA is a non-GAAP financial measure. See "Use and Definition of Non-GAAP Financial Measure" below for more information and a reconciliation to the most directly comparable GAAP measure. Other Business Highlights Warrant Agreement Amendment and Exchange: This initiative simplified the Company's capital structure by providing Warrant holders conversion of their holdings into equity in Falcon's Beyond at a fixed exchange rate. The mandatory exchange of Warrants takes place on October 6, 2028 (the "Exchange Date") for shares of the Company's Class A common stock, par value $0.0001 per share ("Class A Common Stock") at an exchange ratio of 0.25 shares of Class A Common Stock per Warrant (the "Exchange Ratio"). The mandatory exchange was pursuant to an amendment which became effective on January 14, 2025, authorized by holders of more than 50% of the Warrants. After the effectiveness of the Warrant Agreement Amendment and until the Exchange Date, the warrants, as amended by the Warrant Agreement Amendment, will not be exercisable and the holders of the warrants will have no further rights except to receive shares of Class A Common Stock at the Exchange Ratio on the Exchange Date. Oceaneering Entertainment Systems ("OES") Transaction: On May 9, 2025, The Company acquired key assets of Oceaneering Entertainment System ("OES"), a division of Oceaneering International Inc. ("OII"). In the transaction, the Company purchased certain tangible assets, OES's portfolio of intellectual property, including patented technologies, proprietary engineering and manufacturing processes, and assumed the lease for a 106,000+ square-foot facility in Orlando, FL to be utilized by the Falcon's Beyond Brands division to bolster Falcon's research, development, manufacturing, and attraction integration services, in addition to hiring key members of OES' highly experienced team in February 2025. The Company has an option to acquire certain OES vehicle inventory exercisable on or before July 23, 2025. The transaction follows a letter of intent previously announced on November 19, 2024, with Falcon's, rather than Infinite Acquisitions Partners LLC, making the purchase. "At Falcon's Beyond, our mission is to push the boundaries of immersive storytelling across every dimension of the global experience economy, from media and IP development to destination attractions and consumer products. The acquisition of Oceaneering Entertainment Systems is an exciting step that enhances just one aspect of our broader strategy. With the addition of cutting-edge ride technologies, advanced manufacturing capabilities, and a world-class team, we're expanding our toolbox for innovation. But this is only part of the story. As we continue to diversify our offerings, deepen our IP portfolio, and forge new strategic partnerships, we remain focused on building an enduring platform that delivers exceptional value to our audiences and shareholders alike," said Simon Philips, President of Falcon's Beyond. About Falcon's Beyond Falcon's Beyond is a visionary innovator in immersive storytelling, sitting at the intersection of three potential high growth business opportunities: content, technology, and experiences. Falcon's Beyond propels intellectual property (IP) activations concurrently across physical and digital experiences through three core business units: Falcon's Creative Group creates master plans, designs attractions and experiential entertainment, and produces content, interactives, and software. Falcon's Beyond Destinations develops a diverse range of entertainment experiences using both Falcon's Beyond owned and third party licensed intellectual property, spanning location-based entertainment, dining, and retail. Falcon's Beyond Brands endeavors to bring brands and intellectual property to life through animation, movies, licensing and merchandising, gaming as well as ride and technology sales. Falcon's Beyond also invents immersive rides, attractions, and technologies for entertainment destinations around the world. FALCON'S BEYOND and its related trademarks are owned by Falcon's Beyond. Falcon's is headquartered in Orlando, Fla. Learn more at Falcon's Beyond may use its website as a distribution channel of material Company information. Financial and other important information regarding the Company is routinely accessed through and posted on our website at In addition, you may automatically receive email alerts and other information about Falcon's when you enroll your email address by visiting the Email Alerts section at Cautionary Note Regarding Forward-Looking Statements This press release contains statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, words such as "will," "would", "aim", enhances", "expanding", "diversify", "deepen", "forge", "building", "delivers", "exceptional" and similar expressions identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those expressed in or implied by the forward-looking statements, including (1) any failure to realize the anticipated benefits of the acquisition of OES, (2) risks related to legacy OES products and our ability to service such products, (3) the risk that the OES acquisition, integration of the OES personnel we hired, and efforts to grow Falcon's Attractions disrupts our other operations, (4) our ability to grow current and future potential customer relationships (5) our ability to sustain our growth, effectively manage our anticipated future growth, and implement our business strategies to achieve the results we anticipate, (6) our current liquidity resources raise substantial doubt about our ability to continue as a going concern (7) impairments of our intangible assets and equity method investment in our joint ventures, (8) our ability to raise additional capital, (9) the closure of Katmandu Park DR and the repositioning and rebranding of our FBD business, (6) the success of our growth plans in FCG, (10) our customer concentration in FCG, (11) the risk that contractual restrictions relating to the Strategic Investment may affect our ability to access the public markets and expand our business, (12) the risks of doing business internationally, including in the Kingdom of Saudi Arabia, (13) our indebtedness, (14) our dependence on strategic relationships with local partners in order to offer and market our products and services in certain jurisdictions, (15) our reliance on our senior management and key employees, and our ability to hire, train, retain, and motivate qualified personnel, (16) our reliance on our senior management and key employees, and our ability to hire, train, retain, and motivate qualified personnel, (17) cybersecurity-related risks, (18) our ability to protect our intellectual property, including the intellectual property purchased from OES, (19) our ability to remediate identified material weaknesses in our internal controls over financial reporting, (20) the concentration of share ownership and the significant influence of the Demerau Family and Cecil D. Magpuri, (21) the outcome of pending, threatened and future legal proceedings, (22) our continued compliance with Nasdaq continued listing standards, (23) risks related to our Up-C entity structure and the fact that we may be required to make substantial payments to certain unitholders under our Tax Receivable Agreement, and (24) the risks disclosed under the caption "Risk Factors" in the Company's most recent Annual Report on Form 10-K, and the Company's other filings with the Securities and Exchange Commission. The forward-looking statements herein speak only as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Use and Definition of Non-GAAP Financial Measure We prepare our consolidated financial statements in accordance with US GAAP. In addition to disclosing financial results prepared in accordance with US GAAP, we disclose information regarding Adjusted EBITDA which is a non-GAAP measure. We define Adjusted EBITDA as net income (loss), determined in accordance with US GAAP, for the period presented, before net interest and expense, income tax expense, depreciation and amortization, transaction expenses related to the business combination, credit loss expense related to the closure of the Sierra Parima Katmandu Park, share of equity method investee's impairment of fixed assets, impairment of equity method investments, change in fair value of warrant liabilities, change in fair value of earnout liabilities, intangible asset impairment loss, and gain on deconsolidation of FCG. We believe that Adjusted EBITDA is useful to investors as it eliminates the non-cash depreciation and amortization expense that results from our capital investments and intangible assets recognized in any business combination and improves comparability by eliminating the interest expense associated with our debt facilities, and eliminating the change in fair value of warrant and earnout liabilities, which may not be comparable with other companies based on our structure. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for analysis of our results as reported under US GAAP. Some of these limitations are (i) it does not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments, (ii) it does not reflect changes in, or cash requirements for, our working capital needs, (iii) it does not reflect interest expense, or the cash requirements necessary to service interest or principal payments, on our debt, (iv) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for such replacements, (v) it does not adjust for all non-cash income or expense items that are reflected in our statements of cash flows, and (vi) other companies in our industry may calculate these measures differently than we do, limiting their usefulness as comparative measures. BEYOND GLOBAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands of U.S. dollars, except share and per share data) As ofMarch 31,2025 As ofDecember 31,2024 Assets Current assets: Cash and cash equivalents $ 1,108 $ 825 Accounts receivable 628 1,716 Other current assets 834 1,593 Total current assets 2,656 4,134 Investments and advances to equity method investments 53,454 56,560 Property and equipment, net 110 24 Other non-current assets 500 513 Total assets $ 56,720 $ 61,231 Liabilities and stockholders' equity (deficit) Current liabilities: Accounts payable $ 9,519 $ 9,540 Accrued expenses and other current liabilities 32,195 25,870 Short term debt 8,471 8,471 Current portion of long-term debt 1,917 1,759 Total current liabilities 52,102 45,640 Long-term debt, net of current portion 30,565 30,977 Warrant liabilities — 4,711 Total liabilities 82,667 81,328 Commitments and contingencies – Note 10 Stockholders' equity (deficit) Deficit attributable to common stockholders (11,597 ) (8,965 ) Non-controlling interest (14,350 ) (11,132 ) Total deficit (25,947 ) (20,097 ) Total liabilities and equity $ 56,720 $ 61,231 FALCON'S BEYOND GLOBAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (in thousands of U.S. dollars, except share and per share data) Three months ended March 31,2025 March 31,2024 Revenue $ 1,708 $ 1,516 Operating expenses: Project design and build expense 106 — Selling, general and administrative expense 6,298 6,793 Transaction expenses 1,521 7 Credit loss expense — 12 Research and development expense 118 16 Depreciation and amortization expense 4 1 Total operating expenses 8,047 6,829 Loss from operations (6,339 ) (5,313 ) Share of (loss) gain from equity method investments (4,063 ) 1,154 Interest expense (1,332 ) (269 ) Interest income 3 3 Change in fair value of warrant liabilities 2,886 208 Change in fair value of earnout liabilities — 118,615 Foreign exchange transaction gain (loss) 752 (375 ) Net (loss) income before taxes $ (8,093 ) $ 114,023 Income tax benefit 1 1 Net (loss) income $ (8,092 ) $ 114,024 Net (loss) income attributable to noncontrolling interest (4,477 ) 96,855 Net (loss) income attributable to common stockholders (3,615 ) 17,169 Net (loss) income per share Net (loss) income per share, basic (0.10 ) 1.59 Net (loss) income per share, diluted (0.13 ) 1.27 Weighted average shares outstanding, basic 37,322,177 10,825,824 Weighted average shares outstanding, diluted 37,509,127 11,050,824 FALCON'S BEYOND GLOBAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands of U.S. dollars) Three months ended March 31,2025 March 31,2024 Cash flows from operating activities Net (loss) income $ (8,092 ) $ 114,024 Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: Depreciation and amortization 4 1 Foreign exchange transaction (gain) loss (752 ) 375 Share of loss (gain) from equity method investments 4,063 (1,154 ) Change in deferred tax assets — — Credit loss expense - 12 Change in fair value of earnouts - (118,615 ) Change in fair value of warrants (2,886 ) (208 ) Share based compensation expense 531 346 Loss on sale of equipment — 2 Changes in assets and liabilities: Accounts receivable 1,098 (1,133 ) Contract assets (86 ) — Deferred transaction costs 588 — Other current assets 172 73 Other non-current assets 13 (58 ) Accounts payable (30 ) 2,669 Accrued expenses and other current liabilities 6,322 (102 ) Net cash provided by (used in) operating activities 945 (3,768 ) Cash flows from investing activities Purchase of property and equipment (92 ) (4 ) Proceeds from sale of equipment 2 2 Investments and advances to unconsolidated joint ventures — (2,094 ) Net cash used in investing activities (90 ) (2,096 ) Cash flows from financing activities Proceeds from debt – related party — 7,221 Proceeds from debt – third party — 1,250 Repayment of debt – related party — (1,182 ) Repayment of debt – third party (393 ) (427 ) Proceeds from related party credit facilities 1,248 4,650 Repayment of related party credit facilities (1,257 ) (5,392 ) Proceeds from exercised warrants — 111 Proceeds from RSUs issued to affiliates 198 — Settlement of RSUs (397 ) — Net cash (used in) provided by financing activities (601 ) 6,231 Net increase in cash and cash equivalents 254 367 Foreign exchange impact on cash 29 11 Cash and cash equivalents – beginning of period 825 672 Cash and cash equivalents at end of period $ 1,108 $ 1,050 Reconciliation of Non-GAAP Financial Measure The following table sets forth reconciliations of net income (loss) under US GAAP to Adjusted EBITDA for the following periods: (Unaudited) Three months ended March 31,2025 March 31,2024 Net (loss) income $ (8,092 ) $ 114,024 Interest expense 1,332 269 Interest income (3 ) (3 ) Income tax benefit (1 ) (1 ) Depreciation and amortization expense 4 1 EBITDA (6,760 ) 114,290 Transaction expenses 1,521 7 Credit loss expense related to the closure of the Sierra Parima Katmandu Park — 12 Change in fair value of warrant liabilities (2,886 ) (208 ) Change in fair value of earnout liabilities — (118,615 ) Adjusted EBITDA $ (8,125 ) $ (4,514 ) View source version on Contacts Media Relations: Kathleen Prihoda, Falcon's Beyond: kprihoda@ Investor Relations: ir@
Business Wire
15-05-2025
- Business
- Business Wire
Falcon's Beyond Reports First Quarter 2025 Financial Results
ORLANDO, Fla.--(BUSINESS WIRE)--Falcon's Beyond Global, Inc. (Nasdaq: FBYD) ('Falcon's Beyond', 'Falcon's' or the 'Company'), a visionary leader in innovative and immersive storytelling through its divisions Falcon's Creative Group ('FCG'), Falcon's Beyond Destinations ('FBD'), and Falcon's Beyond Brands ('FBB') today reported its financial results for the first quarter of fiscal year 2025 ended March 31, 2025. First Quarter 2025 Financial Results Revenue: Falcon's Beyond generated consolidated revenues of $1.7 million for the three months ended March 31, 2025, representing fees for corporate and shared services earned from its FCG division, management fees from its Producciones de Parques, S.L. ('PDP') 50:50 joint venture with Melia Hotels Int'l, and attraction maintenance service fees from its Falcon's Beyond Brands division. FCG recorded revenues of $6.3 million in the three months ended March 31, 2025, representing a decrease of $8.6 million, or 57.7%, over the corresponding period of 2024 primarily due to timing of projects. FCG recorded an operating loss of ($2.8) million and a net loss of ($3.0) million in the three months ended March 31, 2025, compared with an operating income of $1.6 million and net income of $1.8 million for the corresponding 2024 period. After the Qiddiya Investment Company (QIC) preferred return and amortization of basis difference, Falcon's Beyond's share of net loss from FCG was $(4.6) million in the three months ended March 31, 2025. PDP recognized revenues of $7.2 million in the three months ended March 31, 2025, a $0.2 million decrease over the corresponding period of 2024, primarily due to the impact of foreign currency translation of the results of the European joint venture. Income from operations increased $0.3 million to $1.6 million for the three months ended March 31, 2025, compared with operating income of $1.3 million for the corresponding period of 2025. Net income was flat at $1.0 million for the three months ended March 31, 2025, and March 31, 2024. Falcon's Beyond's share of income was $0.5 million from PDP for three months ended March 31, 2025. Net Income: Falcon's Beyond's consolidated net loss of $ (8.1) million for the three months ended March 31, 2025, decreased $122.1 million compared with the corresponding 2024 period, primarily driven by a $118.6 million quarter-over-quarter change in the fair value of earnout liabilities, $1.5 million of transaction expenses related to the Company's S-1 filings in 2025, a $5.2 million increase in share of losses from equity method investments, and a $1.1 million increase in interest expense, partially offset by a $2.7 million quarter-over-quarter change in fair value of warrant liabilities, $1.1 million increase in unrealized foreign currency transactional gains and $0.5 million decrease in other expenses. EBITDA: Falcon's Beyond's adjusted EBITDA(1) loss increased $3.6 million to $(8.1) million loss for the three months ended March 31, 2025, compared with $(4.5) million loss for the corresponding 2024 period. Adjusted EBITDA loss for the three months ended March 31, 2024, was primarily driven by a $5.2 million increase in in share of losses from equity method investments, partially offset by a $1.1 million increase in unrealized foreign currency transactional gains and $0.5 million decrease in other expenses. (1) Adjusted EBITDA is a non-GAAP financial measure. See 'Use and Definition of Non-GAAP Financial Measure" below for more information and a reconciliation to the most directly comparable GAAP measure. Expand Other Business Highlights Warrant Agreement Amendment and Exchange: This initiative simplified the Company's capital structure by providing Warrant holders conversion of their holdings into equity in Falcon's Beyond at a fixed exchange rate. The mandatory exchange of Warrants takes place on October 6, 2028 (the 'Exchange Date') for shares of the Company's Class A common stock, par value $0.0001 per share ('Class A Common Stock') at an exchange ratio of 0.25 shares of Class A Common Stock per Warrant (the 'Exchange Ratio'). The mandatory exchange was pursuant to an amendment which became effective on January 14, 2025, authorized by holders of more than 50% of the Warrants. After the effectiveness of the Warrant Agreement Amendment and until the Exchange Date, the warrants, as amended by the Warrant Agreement Amendment, will not be exercisable and the holders of the warrants will have no further rights except to receive shares of Class A Common Stock at the Exchange Ratio on the Exchange Date. This initiative simplified the Company's capital structure by providing Warrant holders conversion of their holdings into equity in Falcon's Beyond at a fixed exchange rate. The mandatory exchange of Warrants takes place on October 6, 2028 (the 'Exchange Date') for shares of the Company's Class A common stock, par value $0.0001 per share ('Class A Common Stock') at an exchange ratio of 0.25 shares of Class A Common Stock per Warrant (the 'Exchange Ratio'). The mandatory exchange was pursuant to an amendment which became effective on January 14, 2025, authorized by holders of more than 50% of the Warrants. After the effectiveness of the Warrant Agreement Amendment and until the Exchange Date, the warrants, as amended by the Warrant Agreement Amendment, will not be exercisable and the holders of the warrants will have no further rights except to receive shares of Class A Common Stock at the Exchange Ratio on the Exchange Date. Oceaneering Entertainment Systems ("OES") Transaction: On May 9, 2025, The Company acquired key assets of Oceaneering Entertainment System ('OES'), a division of Oceaneering International Inc. ('OII'). In the transaction, the Company purchased certain tangible assets, OES's portfolio of intellectual property, including patented technologies, proprietary engineering and manufacturing processes, and assumed the lease for a 106,000+ square-foot facility in Orlando, FL to be utilized by the Falcon's Beyond Brands division to bolster Falcon's research, development, manufacturing, and attraction integration services, in addition to hiring key members of OES' highly experienced team in February 2025. The Company has an option to acquire certain OES vehicle inventory exercisable on or before July 23, 2025. The transaction follows a letter of intent previously announced on November 19, 2024, with Falcon's, rather than Infinite Acquisitions Partners LLC, making the purchase. 'At Falcon's Beyond, our mission is to push the boundaries of immersive storytelling across every dimension of the global experience economy, from media and IP development to destination attractions and consumer products. The acquisition of Oceaneering Entertainment Systems is an exciting step that enhances just one aspect of our broader strategy. With the addition of cutting-edge ride technologies, advanced manufacturing capabilities, and a world-class team, we're expanding our toolbox for innovation. But this is only part of the story. As we continue to diversify our offerings, deepen our IP portfolio, and forge new strategic partnerships, we remain focused on building an enduring platform that delivers exceptional value to our audiences and shareholders alike,' said Simon Philips, President of Falcon's Beyond. About Falcon's Beyond Falcon's Beyond is a visionary innovator in immersive storytelling, sitting at the intersection of three potential high growth business opportunities: content, technology, and experiences. Falcon's Beyond propels intellectual property (IP) activations concurrently across physical and digital experiences through three core business units: Falcon's Creative Group creates master plans, designs attractions and experiential entertainment, and produces content, interactives, and software. creates master plans, designs attractions and experiential entertainment, and produces content, interactives, and software. Falcon's Beyond Destinations develops a diverse range of entertainment experiences using both Falcon's Beyond owned and third party licensed intellectual property, spanning location-based entertainment, dining, and retail. develops a diverse range of entertainment experiences using both Falcon's Beyond owned and third party licensed intellectual property, spanning location-based entertainment, dining, and retail. Falcon's Beyond Brands endeavors to bring brands and intellectual property to life through animation, movies, licensing and merchandising, gaming as well as ride and technology sales. Falcon's Beyond also invents immersive rides, attractions, and technologies for entertainment destinations around the world. FALCON'S BEYOND and its related trademarks are owned by Falcon's Beyond. Falcon's is headquartered in Orlando, Fla. Learn more at Falcon's Beyond may use its website as a distribution channel of material Company information. Financial and other important information regarding the Company is routinely accessed through and posted on our website at In addition, you may automatically receive email alerts and other information about Falcon's when you enroll your email address by visiting the Email Alerts section at Cautionary Note Regarding Forward-Looking Statements This press release contains statements that are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, words such as 'will,' 'would', "aim", enhances', 'expanding', 'diversify', 'deepen', 'forge', 'building', 'delivers', 'exceptional' and similar expressions identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those expressed in or implied by the forward-looking statements, including (1) any failure to realize the anticipated benefits of the acquisition of OES, (2) risks related to legacy OES products and our ability to service such products, (3) the risk that the OES acquisition, integration of the OES personnel we hired, and efforts to grow Falcon's Attractions disrupts our other operations, (4) our ability to grow current and future potential customer relationships (5) our ability to sustain our growth, effectively manage our anticipated future growth, and implement our business strategies to achieve the results we anticipate, (6) our current liquidity resources raise substantial doubt about our ability to continue as a going concern (7) impairments of our intangible assets and equity method investment in our joint ventures, (8) our ability to raise additional capital, (9) the closure of Katmandu Park DR and the repositioning and rebranding of our FBD business, (6) the success of our growth plans in FCG, (10) our customer concentration in FCG, (11) the risk that contractual restrictions relating to the Strategic Investment may affect our ability to access the public markets and expand our business, (12) the risks of doing business internationally, including in the Kingdom of Saudi Arabia, (13) our indebtedness, (14) our dependence on strategic relationships with local partners in order to offer and market our products and services in certain jurisdictions, (15) our reliance on our senior management and key employees, and our ability to hire, train, retain, and motivate qualified personnel, (16) our reliance on our senior management and key employees, and our ability to hire, train, retain, and motivate qualified personnel, (17) cybersecurity-related risks, (18) our ability to protect our intellectual property, including the intellectual property purchased from OES, (19) our ability to remediate identified material weaknesses in our internal controls over financial reporting, (20) the concentration of share ownership and the significant influence of the Demerau Family and Cecil D. Magpuri, (21) the outcome of pending, threatened and future legal proceedings, (22) our continued compliance with Nasdaq continued listing standards, (23) risks related to our Up-C entity structure and the fact that we may be required to make substantial payments to certain unitholders under our Tax Receivable Agreement, and (24) the risks disclosed under the caption 'Risk Factors' in the Company's most recent Annual Report on Form 10-K, and the Company's other filings with the Securities and Exchange Commission. The forward-looking statements herein speak only as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Use and Definition of Non-GAAP Financial Measure We prepare our consolidated financial statements in accordance with US GAAP. In addition to disclosing financial results prepared in accordance with US GAAP, we disclose information regarding Adjusted EBITDA which is a non-GAAP measure. We define Adjusted EBITDA as net income (loss), determined in accordance with US GAAP, for the period presented, before net interest and expense, income tax expense, depreciation and amortization, transaction expenses related to the business combination, credit loss expense related to the closure of the Sierra Parima Katmandu Park, share of equity method investee's impairment of fixed assets, impairment of equity method investments, change in fair value of warrant liabilities, change in fair value of earnout liabilities, intangible asset impairment loss, and gain on deconsolidation of FCG. We believe that Adjusted EBITDA is useful to investors as it eliminates the non-cash depreciation and amortization expense that results from our capital investments and intangible assets recognized in any business combination and improves comparability by eliminating the interest expense associated with our debt facilities, and eliminating the change in fair value of warrant and earnout liabilities, which may not be comparable with other companies based on our structure. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for analysis of our results as reported under US GAAP. Some of these limitations are (i) it does not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments, (ii) it does not reflect changes in, or cash requirements for, our working capital needs, (iii) it does not reflect interest expense, or the cash requirements necessary to service interest or principal payments, on our debt, (iv) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for such replacements, (v) it does not adjust for all non-cash income or expense items that are reflected in our statements of cash flows, and (vi) other companies in our industry may calculate these measures differently than we do, limiting their usefulness as comparative measures. BEYOND GLOBAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands of U.S. dollars, except share and per share data) As of March 31, 2025 As of December 31, 2024 Assets Current assets: Cash and cash equivalents $ 1,108 $ 825 Accounts receivable 628 1,716 Other current assets 834 1,593 Total current assets 2,656 4,134 Investments and advances to equity method investments 53,454 56,560 Property and equipment, net 110 24 Other non-current assets 500 513 Total assets $ 56,720 $ 61,231 Liabilities and stockholders' equity (deficit) Current liabilities: Accounts payable $ 9,519 $ 9,540 Accrued expenses and other current liabilities 32,195 25,870 Short term debt 8,471 8,471 Current portion of long-term debt 1,917 1,759 Total current liabilities 52,102 45,640 Long-term debt, net of current portion 30,565 30,977 Warrant liabilities — 4,711 Total liabilities 82,667 81,328 Commitments and contingencies – Note 10 Stockholders' equity (deficit) Deficit attributable to common stockholders (11,597 ) (8,965 ) Non-controlling interest (14,350 ) (11,132 ) Total deficit (25,947 ) (20,097 ) Total liabilities and equity $ 56,720 $ 61,231 Expand FALCON'S BEYOND GLOBAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (in thousands of U.S. dollars, except share and per share data) Three months ended March 31, 2025 March 31, 2024 Revenue $ 1,708 $ 1,516 Operating expenses: Project design and build expense 106 — Selling, general and administrative expense 6,298 6,793 Transaction expenses 1,521 7 Credit loss expense — 12 Research and development expense 118 16 Depreciation and amortization expense 4 1 Total operating expenses 8,047 6,829 Loss from operations (6,339 ) (5,313 ) Share of (loss) gain from equity method investments (4,063 ) 1,154 Interest expense (1,332 ) (269 ) Interest income 3 3 Change in fair value of warrant liabilities 2,886 208 Change in fair value of earnout liabilities — 118,615 Foreign exchange transaction gain (loss) 752 (375 ) Net (loss) income before taxes $ (8,093 ) $ 114,023 Income tax benefit 1 1 Net (loss) income $ (8,092 ) $ 114,024 Net (loss) income attributable to noncontrolling interest (4,477 ) 96,855 Net (loss) income attributable to common stockholders (3,615 ) 17,169 Net (loss) income per share Net (loss) income per share, basic (0.10 ) 1.59 Net (loss) income per share, diluted (0.13 ) 1.27 Weighted average shares outstanding, basic 37,322,177 10,825,824 Weighted average shares outstanding, diluted 37,509,127 11,050,824 Expand FALCON'S BEYOND GLOBAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands of U.S. dollars) Three months ended March 31, 2025 March 31, 2024 Cash flows from operating activities Net (loss) income $ (8,092 ) $ 114,024 Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: Depreciation and amortization 4 1 Foreign exchange transaction (gain) loss (752 ) 375 Share of loss (gain) from equity method investments 4,063 (1,154 ) Change in deferred tax assets — — Credit loss expense - 12 Change in fair value of earnouts - (118,615 ) Change in fair value of warrants (2,886 ) (208 ) Share based compensation expense 531 346 Loss on sale of equipment — 2 Changes in assets and liabilities: Accounts receivable 1,098 (1,133 ) Contract assets (86 ) — Deferred transaction costs 588 — Other current assets 172 73 Other non-current assets 13 (58 ) Accounts payable (30 ) 2,669 Accrued expenses and other current liabilities 6,322 (102 ) Net cash provided by (used in) operating activities 945 (3,768 ) Cash flows from investing activities Purchase of property and equipment (92 ) (4 ) Proceeds from sale of equipment 2 2 Investments and advances to unconsolidated joint ventures — (2,094 ) Net cash used in investing activities (90 ) (2,096 ) Cash flows from financing activities Proceeds from debt – related party — 7,221 Proceeds from debt – third party — 1,250 Repayment of debt – related party — (1,182 ) Repayment of debt – third party (393 ) (427 ) Proceeds from related party credit facilities 1,248 4,650 Repayment of related party credit facilities (1,257 ) (5,392 ) Proceeds from exercised warrants — 111 Proceeds from RSUs issued to affiliates 198 — Settlement of RSUs (397 ) — Net cash (used in) provided by financing activities (601 ) 6,231 Net increase in cash and cash equivalents 254 367 Foreign exchange impact on cash 29 11 Cash and cash equivalents – beginning of period 825 672 Cash and cash equivalents at end of period $ 1,108 $ 1,050 Expand Reconciliation of Non-GAAP Financial Measure The following table sets forth reconciliations of net income (loss) under US GAAP to Adjusted EBITDA for the following periods: (Unaudited) Three months ended March 31, 2025 March 31, 2024 Net (loss) income $ (8,092 ) $ 114,024 Interest expense 1,332 269 Interest income (3 ) (3 ) Income tax benefit (1 ) (1 ) Depreciation and amortization expense 4 1 EBITDA (6,760 ) 114,290 Transaction expenses 1,521 7 Credit loss expense related to the closure of the Sierra Parima Katmandu Park — 12 Change in fair value of warrant liabilities (2,886 ) (208 ) Change in fair value of earnout liabilities — (118,615 ) Adjusted EBITDA $ (8,125 ) $ (4,514 ) Expand
Zawya
12-05-2025
- Business
- Zawya
Fakeeh Care Group reports net profit of SAR 67.4mln for 1Q-2025
Fakeeh Care continues to strengthen its strategic focus on case complexity and innovation, expanding its capabilities across the Group to deliver high-value healthcare services and advanced treatments. Jeddah, KSA: Dr Soliman Abdel Kader Fakeeh Hospital Company and its Subsidiaries ('Fakeeh Care Group', 'FCG', 'Fakeeh Care', the 'Company' or the 'Group'), a leading fully integrated academic healthcare provider listed on TASI (SYMBOL: 4017 and ISIN code SA562GSHUOH7), announces today its financial results for the first quarter ended 31 March 2025, reporting revenues of SAR 701.0 million, a 3.0% year-on-year increase from SAR 680.3 million in 1Q-2024 despite the prolonged impact of Ramadan and Eid Al Fitr holiday, which led to the loss of the equivalent of seven working days compared to 1Q-2024. Net Profit for the quarter reached SAR 67.4 million in 1Q-2025, up 11.0% y-o-y with net profit margin expanding by c.70 bps to 9.6%. Growth during the quarter was supported by an increase in patient volumes and a Group-wide improvement in business mix with enhanced average revenue per patient. The total number of patients served (including inpatient admissions and outpatient visits) reached approximately 432.2 thousand during 1Q-2025 (excluding free follow-up visits), up 0.9% y-o-y despite the loss of the equivalent of seven working days in 1Q-2025 compared to 1Q-2024. It is worth noting that when normalizing for the impact, total footfall and revenue would have each grown by c.9% versus the same quarter last year. Commenting on the Group's performance, FCG's President Dr. Mazen Soliman Fakeeh said: 'In the first quarter of 2025, Fakeeh Care Group delivered a solid performance marked by steady revenue growth despite the prolonged impact of Ramadan and Eid Al Fitr. Our continued focus on enhancing business mix and improving revenue per patient supported our growth trajectory, with total patient volumes remaining strong. This reflects the strength of our integrated healthcare platform, which is well-positioned to capture demand across the Kingdom. The operational ramp-up at our Riyadh Hospital and the commencement of operations at DSFH Madinah further emphasize our strategy to expand our reach and scale across the Kingdom.' During the quarter, Riyadh Hospital's continued operational ramp-up supported the Group's patient volumes with the facility serving a total of c.47 thousand patients in 1Q-2025, up 20% year-on-year in 1Q-2025 while gross revenue climbed by 35% year-on-year. The hospital is rolling out key service offerings throughout 2025, namely IVF, oncology, and mental health inpatients, further enhancing its patient base mix. DSFH Riyadh was honoured with a 5-star rating by the World's Best Hospitals platform in collaboration with Newsweek and Statista, based on an evaluation across five essential pillars—quality of healthcare services; efficiency and speed of service delivery; patient safety and overall experience; innovation in medical technologies and information systems; and an outstanding, attractive work environment for top talents—all of which the hospital met with top marks. Additionally, the Group's newest facility in Madinah has commenced operations in April 2025 with a plan to ramp-up capacity and utilization over the next 12 months as demand accelerates. DSFH Madinah will provide much‑needed access to comprehensive, top‑quality healthcare services for residents and visitors of the governorate and is expected to serve high complexity cases through its one-stop-shop centres of excellence, including a state-of-the-art Oncology Centre of Excellence – the only 360-degree oncology service offering in Madinah. Fakeeh Care Group is also strengthening its healthcare platform through key partnerships aimed at advancing innovation. The Group signed a strategic MoU with Fosun Pharma to introduce cutting-edge cell- and gene-therapy solutions—most notably CAR-T—as well as AI-powered digital pathology and remote diagnostics to the Kingdom, supporting Saudi Vision 2030 and positioning Saudi Arabia as a regional hub for healthcare innovation. Fakeeh Care also signed an MoU with global firm Sngular to explore a strategic partnership focused on healthcare AI, with plans to establish an AI and Data Analytics Centre of Excellence to further enhance medical services and patient experience—underpinning its collaboration with the Saudi Authority for Research, Development and Innovation (RDIA) to drive cutting-edge research, foster public-private innovation in line with Saudi Vision 2030, and accelerate the development and implementation of AI-driven solutions across the Kingdom's healthcare ecosystem. Finally, the Group was awarded the tender to provide 725 ambulatory teams to support the Kingdom's management of the 2025 Hajj season valued at SAR 80 million. This Saudi Red Crescent Authority award certifies the Group's excellence and capabilities in the ambulatory field and marks another important step in expanding the Group's leadership in emergency medical services and delivering critical healthcare support at a national scale, in addition to its ability to secure public tenders on the back of its holistic operational ecosystem. Dr. Mazen Soliman Fakeeh added: 'The investments we are making in innovation, infrastructure, and marketing are all designed to fortify Fakeeh's competitive position in the market. The Group's holistic ecosystem and well-integrated network that was developed over years of strategic building and structuring continues to set it up for success on the privatization front. We are deeply honoured for the privilege of being considered and winning the tender by the Red Crescent Authority to support the Kingdom's efforts in managing emergency services for the 2025 Haj season.' 'With a clear focus on our strategic priorities and a firm foundation, Fakeeh Care is well-positioned to continue advancing its leadership in Saudi Arabia's healthcare sector, and we remain committed to supporting the Kingdom with all our resources in its mission to transform the healthcare industry,' he concluded. A testament to the Group's leadership and commitment for innovation, Fakeeh Care clinched two prestigious accolades at the 3rd Council of Health Insurance Awards— the Digital Innovative Sustainability Award for Private Hospitals and the Golden-level Excellence in Delivering PROMs Strategy Award for Dr. Soliman Fakeeh Hospital in Jeddah. Further cementing our regional and global standing, Dr. Soliman Fakeeh Hospital in Jeddah earned a 5-star rating in the Global Hospital Rating by Newsweek and Statista—ranking it among the top three hospitals in the Middle East and North Africa. These awards reaffirm our relentless pursuit of excellence and patient-centred care across both our flagship institutions and the facilities we manage. Fakeeh Care Group's complete 1Q-2025 Earnings Release with management's analysis of the Company's performance is available for download on About Fakeeh Care Group Established in 1978 by the late Dr. Soliman Fakeeh, the Fakeeh Care Group stands as a pioneer in integrated healthcare services in Saudi Arabia. Our comprehensive healthcare offering includes our core healthcare services ranging from ambulatory care to secondary and tertiary care, supported by Emergency Medical Services and Fakeeh Home Healthcare. Additionally, our offerings are enhanced by our industry-leading academic healthcare programs. In 2022, after a period of significant growth in our home city of Jeddah, the Group embarked on a Kingdom-wide expansion strategy to bring our well proven hub-and-spoke model and medical support services to major cities across Saudi Arabia. In June 2024, Fakeeh Care Group successfully concluded its initial public offering (IPO) on the Tadawul. The IPO raised gross proceeds of SAR 2.9 billion (US$ 764 million) for the Company and the Selling Shareholders of which SAR 1.7 billion will be used to support and accelerate the Group's growth strategy. For further information, please contact: Fakeeh Care Group e-mail: investors@
