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Revenue | 6 Months Ended
--- | ---
Jun. 30, 2024
Revenue [Abstract] |
Revenue |
| 3. | Revenue
As of July 27, 2023, FCG was deconsolidated and accounted for as an equity method investment in the Company’s unaudited condensed consolidated financial statements. The unaudited condensed consolidated statements of operations and comprehensive income (loss) therefore does not include activity related to FCG after deconsolidation during the six months ended June 30, 2024, and includes six months of activity related to FCG prior to deconsolidation during the six months ended June 30, 2023. Prior to deconsolidation, FCG’s operations generated a majority of the Company’s consolidated revenue and contract asset and liability balances. See total revenues of Falcon’s Creative Group, LLC under Note 4 – Investments and advances to equity method investments. Disaggregated components of revenue for the Company for the three and six months ended June 30, 2024 and 2023, respectively, are as follows:
|  | For the three months ended June 30 |  |  | For the six months ended June 30 |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Services transferred over time: |  |  |  |  |  |  |  |  |  |  |  |
Design and project management services |  | $ | — |  |  | $ | 3,568 |  |  | $ | — |  |  | $ | 9,484 |
Media production services |  |  | — |  |  |  | 1,505 |  |  |  | — |  |  |  | 1,578 |
Attraction hardware and turnkey sales |  |  | — |  |  |  | 139 |  |  |  | — |  |  |  | 2,013 |
Other |  |  | 1,798 |  |  |  | 110 |  |  |  | 3,314 |  |  |  | 110 |
Total revenue from services transferred over time |  | $ | 1,798 |  |  | $ | 5,322 |  |  | $ | 3,314 |  |  | $ | 13,185 |
Services transferred at a point in time: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Digital media licenses |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,331 |
Total revenue from services transferred at a point in time |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1.331 |
Total revenue |  | $ | 1,798 |  |  | $ | 5,322 |  |  | $ | 3,314 |  |  | $ | 14,516 |
In March 2023, the Company licensed the right to use Ride Media Content to Sierra Parima. See Note 7– Related party transactions for further discussion. After the deconsolidation of FCG, the Company recognizes related party revenue for corporate shared service support provided to FCG. Total related party revenues from services provided to our equity method investments were $1.8 million and $0.7 million for the three months ended June 30, 2024 and 2023, respectively and $3.3 million and $4.2 million for the six months ended June 30, 2024 and 2023, respectively. Of the total related party revenues from services provided to our equity method investments, the Company recognized $3.2 million and $1.7 million revenue related to services provided to FCG for the three and six months ended June 30, 2024, respectively. The following table presents the components of Accounts receivable, net:
|  | As of |
|  | June 30, 2024 |  |  | December 31, 2023 |
Related party |  | $ | 34 |  |  | $ | 632 |
Other |  |  | — |  |  |  | 64 |
Total |  | $ | 34 |  |  | $ | 696 |
Revenue recognized for the six months ended June 30, 2023 that was included in the contract liability balance as of December 31, 2022 was $1.2 million. This revenue was related to FCG, and therefore there was no revenue recognized for the six months ended June 30, 2024 that was included in the contract liability balance as of December 31, 2023 after FCG deconsolidation. Geographic information The Company has contracts with customers located in the United States, Caribbean, Saudi Arabia, Hong Kong, and Spain. The following table presents revenues based on the geographic location of the Company’s customer contracts:
|  | For the three months ended June 30 |  |  | For the six months ended June 30 |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Saudi Arabia |  | $ | — |  |  | $ | 4,540 |  |  | $ | — |  |  | $ | 10,161 |
Caribbean |  |  | — |  |  |  | 246 |  |  |  | — |  |  |  | 3,603 |
USA |  |  | 1,697 |  |  |  | 42 |  |  |  | 3,215 |  |  |  | 116 |
Hong Kong |  |  | — |  |  |  | 393 |  |  |  | — |  |  |  | 519 |
Other |  |  | 101 |  |  |  | 101 |  |  |  | 99 |  |  |  | 117 |
Total revenue |  | $ | 1,798 |  |  | $ | 5,322 |  |  | $ | 3,314 |  |  | $ | 14,516 |
Destinations Operations The Company had $0.1 million Destinations Operations revenue during the three and six months ended June 30, 2024. Destinations Operations revenue was $0.3 million for the three and six months ended June 30, 2023, respectively.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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