Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 001-39590 fuboTV Inc. (Exact name of registrant as specified in its charter) | Florida | 26-4330545 | ...

Summary of fuboTV Inc. (NYSE:FUBO) 25th Annual Needham Growth Conference Transcript Company Overview - **Company**: fuboTV Inc. (NYSE:FUBO) - **Event**: 25th Annual Needham Growth Conference - **Date**: January 10, 2023 - **CEO**: David Gandler Key Points Industry Insights - **Macro Environment**: The company acknowledges the challenges posed by macroeconomic factors, which are affecting the entire industry [17][18] - **Advertising Market**: There is a noted concern regarding the advertising market, with expectations of a softening environment [17][18] Company Strategy and Technology - **Technology Focus**: fuboTV is excited about advancements in its technology platform, particularly in artificial intelligence, which is expected to enhance user engagement and retention [18][19] - **AI Capabilities**: The company is developing features that allow users to search for specific content within videos, improving the overall user experience [19][21] - **Customer Satisfaction**: fuboTV has won a JD Power award for customer satisfaction, indicating strong performance against competitors despite being one of the more expensive services [21][22] Financial Performance and Projections - **Subscriber Acquisition Cost**: The company aims to amortize subscriber acquisition costs by offering multiple products, similar to models used by companies like Uber [11] - **Cash Flow Concerns**: fuboTV is currently burning cash and is under pressure to demonstrate a path to positive cash flow [13][14] - **Pricing Strategy**: Recently, fuboTV raised prices by $5 and added regional sports networks for an additional $10.99, reflecting the need to improve financial metrics as a public company [14] Competitive Landscape - **Market Positioning**: fuboTV positions itself as a differentiated service in the sports streaming market, emphasizing the importance of local sports and regional sports networks (RSNs) [39][71] - **Response to Competitors**: The CEO expressed confidence in competing against larger companies like YouTube and Amazon, noting that fuboTV's focus on aggregation and customer engagement sets it apart [34][38] FAST Channels and Advertising - **Ad Revenue Potential**: The company is optimistic about the potential for advertising revenue through FAST (Free Ad-supported Streaming TV) channels, which are being integrated into their platform [41][54] - **Negotiation Leverage**: By bundling FAST channels, fuboTV believes it can enhance its negotiating power with content providers [51][54] Ryan Reynolds Partnership - **Marketing Strategy**: The partnership with Ryan Reynolds is seen as a strategic move to leverage his popularity and reach, particularly in the context of FAST channels [78][79] - **Brand Recognition**: The CEO believes that Reynolds' involvement will significantly enhance brand visibility and engagement [79] Challenges and Concerns - **Instant Gratification Culture**: The CEO highlighted the challenge of managing expectations from investors and employees who seek immediate results, which can be detrimental to long-term planning [15][16] - **Market Volatility**: The company is aware of the volatility in stock prices and the impact of economic conditions on its operations [10][14] Future Outlook - **Growth Opportunities**: fuboTV is focused on expanding its technology capabilities and enhancing user engagement to drive future growth [18][19] - **Market Adaptation**: The company is preparing for changes in the market landscape, particularly with the rise of FAST channels and evolving consumer preferences [56][57] Conclusion fuboTV Inc. is navigating a challenging macroeconomic environment while focusing on technological advancements and strategic partnerships to enhance its market position. The company is committed to improving customer engagement and retention through innovative features and is optimistic about future growth despite current financial pressures.

Summary of FuboTV Conference Call Company Overview - **Company**: FuboTV, Inc. (NYSE:FUBO) - **Event**: Citi's 2023 Communications, Media & Entertainment Conference Call - **Date**: January 4, 2023 - **Participants**: - David Gandler - Chief Executive Officer - John Janedis - Chief Financial Officer Key Points Industry Positioning and Competition - FuboTV is positioned as a leading sports platform with over **50,000 sporting events** available, differentiating itself through brand recognition, product differentiation, and customer satisfaction [3][4] - The company emphasizes its unique features such as **4K streaming**, **perpetual DVR**, and **Multiview**, which enhance user experience [3][4] - FuboTV has secured a deal with Sinclair, providing access to a significant number of local sports networks, further strengthening its competitive edge [4] Technology and Future Developments - FuboTV is focused on its proprietary technology stack and plans to release a **3.0 version** of its service, initially testing in France [7] - The company aims to address issues of content discovery and customer churn in the streaming space, positioning itself as a solution provider [7][8] Advertising Strategy - FuboTV is transitioning to a model that allows for **infinite ad inventory**, which is expected to increase advertising revenue per user (ARPU) to over **$15**, compared to traditional cable's **$8 to $10** range [14][15] - The company has invested heavily in its advertising technology and sales team, doubling the sales force to enhance direct sales capabilities [16][19] - FuboTV's advertising strategy includes leveraging programmatic advertising and self-serve platforms for local advertisers, which is anticipated to improve fill rates and overall CPMs [15][16][18] Macroeconomic Outlook - The management expressed cautious optimism regarding macroeconomic conditions, noting that their subscriber base, primarily sports enthusiasts, tends to hold steady during economic downturns [26][27] - The company has not observed significant cancellations, indicating resilience in its subscriber base despite broader economic concerns [27] Subscriber Growth and Pricing Power - FuboTV has seen a strong uptake in premium plans, with nearly **half of new subscribers** opting for higher-tier packages, indicating effective pricing power [46][49] - The company has successfully raised prices from **$6.99** in 2015 to upwards of **$65**, reflecting its ability to provide value through sports content [49] Gaming Aspirations - FuboTV initially aimed to expand into online gaming but has since retrenched due to changing macroeconomic conditions and a focus on profitability [35][36] - The company retains proprietary technology that may allow future partnerships in the gaming space, targeting sports-centric audiences [38] Financial Goals and Free Cash Flow - FuboTV aims to achieve **free cash flow breakeven** by 2025, with a focus on maintaining a sustainable cost structure [62][63] - The management is confident in their ability to meet long-term financial targets despite potential short-term volatility [61] Conclusion - FuboTV is strategically positioned in the competitive streaming landscape, leveraging its sports-centric model, advanced technology, and advertising capabilities to drive growth and profitability. The company remains focused on enhancing user experience and maintaining a strong subscriber base amidst economic uncertainties.

PART I - FINANCIAL INFORMATION [Item 1. Financial Statements](index=7&type=section&id=Item%201.%20Financial%20Statements) This section presents fuboTV Inc.'s unaudited condensed consolidated financial statements for Q3 and nine months ended September 30, 2022, highlighting revenue growth, widening net loss, and significant cash usage [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2022, total assets decreased to $1.27 billion, while total liabilities increased to $806.5 million, leading to a significant reduction in stockholders' equity Condensed Consolidated Balance Sheet Data (in thousands) | Account | Sep 30, 2022 (Unaudited) | Dec 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $201,221 | $374,294 | | Total current assets | $394,034 | $428,505 | | Goodwill | $607,223 | $630,269 | | **Total assets** | **$1,268,027** | **$1,369,778** | | **Liabilities & Equity** | | | | Total current liabilities | $355,498 | $337,297 | | Convertible notes, net of discount | $393,462 | $316,354 | | **Total liabilities** | **$806,481** | **$698,897** | | Accumulated deficit | ($1,406,107) | ($1,009,293) | | **Total stockholders' equity** | **$460,018** | **$670,881** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Q3 2022 total revenues grew 43.5% to $224.8 million, but operating expenses and a $35.5 million impairment charge led to a widened net loss of $152.6 million Q3 2022 vs Q3 2021 Performance (in thousands, except per share data) | Metric | Q3 2022 | Q3 2021 | Change (%) | | :--- | :--- | :--- | :--- | | Subscription Revenue | $201,911 | $138,119 | 46.2% | | Advertising Revenue | $22,714 | $18,570 | 22.3% | | **Total Revenues** | **$224,813** | **$156,690** | **43.5%** | | Subscriber related expenses | $214,466 | $143,370 | 49.6% | | Impairment of goodwill, etc. | $35,454 | $0 | N/A | | **Operating Loss** | **($150,329)** | **($103,258)** | **45.6%** | | **Net Loss Attributable to Common Stockholders** | **($152,648)** | **($105,851)** | **44.2%** | | **Net Loss Per Share (Basic & Diluted)** | **($0.82)** | **($0.74)** | **10.8%** | Nine Months Ended Sep 30, 2022 vs 2021 Performance (in thousands, except per share data) | Metric | Nine Months 2022 | Nine Months 2021 | Change (%) | | :--- | :--- | :--- | :--- | | Subscription Revenue | $621,022 | $359,601 | 72.7% | | Advertising Revenue | $67,886 | $47,642 | 42.5% | | **Total Revenues** | **$688,722** | **$407,294** | **69.1%** | | Subscriber related expenses | $679,027 | $377,177 | 80.0% | | Impairment of goodwill, etc. | $46,136 | $0 | N/A | | **Operating Loss** | **($398,095)** | **($249,406)** | **59.6%** | | **Net Loss Attributable to Common Stockholders** | **($409,496)** | **($270,876)** | **51.2%** | | **Net Loss Per Share (Basic & Diluted)** | **($2.32)** | **($2.02)** | **14.9%** | [Condensed Consolidated Statements of Cash Flows](index=15&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities more than doubled to $294.5 million for the nine months ended September 30, 2022, while financing activities decreased significantly Cash Flow Summary for Nine Months Ended Sep 30 (in thousands) | Cash Flow Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | ($294,464) | ($143,030) | | Net cash used in investing activities | ($110,827) | ($35,673) | | Net cash provided by financing activities | $233,237 | $441,014 | | **Net (decrease) increase in cash** | **($172,054)** | **$262,311** | - Financing activities in 2022 were primarily driven by **$229.0 million** in net proceeds from an At-the-Market (ATM) common stock offering. This contrasts with 2021, which saw **$389.4 million** from a convertible note issuance and **$70.0 million** from an ATM offering[40](index=40&type=chunk)[274](index=274&type=chunk)[275](index=275&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=17&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's business, the dissolution of Fubo Gaming, liquidity assessment, accounting standard adoption, Molotov acquisition, impairment charges, debt, and commitments - On October 17, 2022, the Company ceased operation of its Online Sportsbook in connection with the dissolution of its subsidiary, Fubo Gaming Inc[47](index=47&type=chunk)[196](index=196&type=chunk) - Management believes that current cash, cash equivalents, and short-term investments of **$307.4 million** (as of Sep 30, 2022) are sufficient to continue as a going concern for at least one year, despite incurring a net loss of **$409.8 million** for the nine months ended Sep 30, 2022[49](index=49&type=chunk)[52](index=52&type=chunk) - During Q3 2022, the Company recognized a non-cash impairment charge of **$35.5 million** on intangible assets, prepaid market access agreements, and property related to the Online Sportsbook. For the nine months ended Sep 30, 2022, total impairment charges for the wagering segment were **$46.1 million**, including a **$10.7 million** goodwill impairment[74](index=74&type=chunk)[111](index=111&type=chunk)[244](index=244&type=chunk) - During the nine months ended September 30, 2022, the Company raised net proceeds of approximately **$229.0 million** from the sale of **31.7 million** shares of common stock through its At-the-Market (ATM) sales agreements[51](index=51&type=chunk)[143](index=143&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=44&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses performance drivers, including subscriber growth, the Molotov acquisition, increased operating expenses, the dissolution of Fubo Gaming, and liquidity [Results of Operations](index=48&type=section&id=Results%20of%20Operations) Q3 2022 revenue increased by $68.1 million, primarily from subscription growth and the Molotov acquisition, while subscriber-related expenses and a $35.5 million impairment charge also rose significantly - Q3 2022 revenue increased by **$68.1 million** YoY, primarily due to a **$52.5 million** increase from a larger subscriber base, **$5.7 million** from add-on sales, and **$5.6 million** from the Molotov acquisition[229](index=229&type=chunk) - Subscriber related expenses for the nine months ended Sep 30, 2022, increased by **$301.9 million** YoY, mainly due to a **$288.3 million** rise in affiliate distribution rights from subscriber growth and higher affiliate agreement rates[232](index=232&type=chunk) - An impairment expense of **$35.5 million** was recognized in Q3 2022 related to the wagering segment as a result of the dissolution of Fubo Gaming[243](index=243&type=chunk) [Key Performance Metrics](index=52&type=section&id=Key%20Performance%20Metrics) As of September 30, 2022, North America paid subscribers reached 1.2 million with an ARPU of $71.52, while Rest of World had 0.4 million subscribers and an ARPU of $5.46 Key Performance Metrics as of September 30, 2022 | Metric | Q3 2022 | Q3 2021 | | :--- | :--- | :--- | | Paid Subscribers (North America) | 1.2 million | 0.9 million | | Paid Subscribers (Rest of World) | 0.4 million | N/A | | Monthly ARPU (North America) | $71.52 | $70.19 | | Monthly ARPU (Rest of World) | $5.46 | N/A | - Beginning in Q3 2022, ARPU is calculated using GAAP Subscription and Advertising revenue, whereas it was previously calculated using Platform Bookings, which adjusted for deferred revenue[253](index=253&type=chunk) [Liquidity and Capital Resources](index=53&type=section&id=Liquidity%20and%20Capital%20Resources) As of September 30, 2022, the company held $207.4 million in cash and equivalents plus $100.0 million in short-term investments, with management believing these are sufficient for the next twelve months - As of September 30, 2022, the company had cash, cash equivalents, and restricted cash of **$207.4 million** and short-term investments of **$100.0 million**[264](index=264&type=chunk) - The company sold **31.7 million** shares of common stock through its ATM programs in the first nine months of 2022, generating net proceeds of approximately **$229.0 million**[264](index=264&type=chunk) - The dissolution of Fubo Gaming is expected to reduce planned cash outlay, allowing the company to allocate additional funds to its streaming segment[265](index=265&type=chunk) - Management believes its existing cash and short-term investments are sufficient to fund operations for at least the next twelve months, supporting the going concern assumption[267](index=267&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=57&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces minimal market risk from interest rate fluctuations on its fixed-rate convertible notes and negligible foreign currency risk, as non-U.S. dollar revenues are only 2.6% of the total - The company's indebtedness, including **$402.5 million** of convertible notes, bears interest at a fixed rate, mitigating interest rate risk on liabilities[285](index=285&type=chunk) - Foreign currency risk is minimal, as revenues denominated in currencies other than the U.S. dollar represented only **2.6%** of the total for Q3 2022. A hypothetical **10%** change in the euro would not materially affect results[286](index=286&type=chunk) [Controls and Procedures](index=57&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2022, with no material changes to internal control over financial reporting during the quarter - The principal executive officer and principal financial officer concluded that as of September 30, 2022, the company's disclosure controls and procedures were effective[289](index=289&type=chunk) - No material changes to internal control over financial reporting were identified during the third quarter of 2022[290](index=290&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=59&type=section&id=Item%201.%20Legal%20Proceedings) The company is vigorously defending an ongoing consolidated class action lawsuit alleging federal securities law violations through false and misleading statements - A consolidated shareholder class action lawsuit (In re fuboTV Inc. Securities Litigation) is ongoing, alleging false and misleading statements regarding the company's financial health and prospects between March 2020 and January 2021[294](index=294&type=chunk)[297](index=297&type=chunk) - The company filed a motion to dismiss the class action complaint in September 2021 and believes the claims are without merit[298](index=298&type=chunk) [Risk Factors](index=60&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including a history of operating losses, need for additional capital, intense competition, reliance on content providers, and regulatory compliance challenges - **Financial Risks:** The company has a history of operating losses (**$409.8 million** net loss for the nine months ended Sep 30, 2022) and may require additional capital, which might not be available on acceptable terms[302](index=302&type=chunk)[303](index=303&type=chunk) - **Content & Competition Risks:** The business is highly dependent on licensing content, especially sports, on favorable terms. It faces intense competition from well-funded virtual MVPDs (e.g., YouTube TV, Hulu Live) and large technology companies[327](index=327&type=chunk)[363](index=363&type=chunk) - **Operational & Technology Risks:** The company relies on third-party partners for device availability (e.g., smart TVs) and critical infrastructure (Google Cloud Platform, Amazon Web Services), and any disruption could adversely impact the business[346](index=346&type=chunk)[348](index=348&type=chunk) - **Regulatory & Legal Risks:** The business is subject to complex regulations regarding data privacy (CCPA, GDPR), internet commerce, and potential liabilities from past gaming operations. It also faces ongoing securities class action litigation[422](index=422&type=chunk)[405](index=405&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=93&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities or use of proceeds were reported for the period covered by this report - None reported for the period[466](index=466&type=chunk) [Other Information](index=94&type=section&id=Item%205.%20Other%20Information) No other information is required to be reported under this item for the period - None reported for the period[469](index=469&type=chunk) [Exhibits](index=94&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the quarterly report, including corporate governance documents, agreements, and required CEO/CFO certifications - The exhibits include CEO and CFO certifications pursuant to Rule 13a-14(a)/15d-14(a) and 18 U.S.C. Section 1350, as well as the Inline XBRL documents[472](index=472&type=chunk)

fuboTV, Inc. (NYSE:FUBO) Q3 2022 Earnings Conference Call November 4, 2022 8:30 AM ET Company Participants Alison Sternberg - Senior Vice President of Investor Relations David Gandler - Chief Executive Officer, Director and Co-Founder John Janedis - Chief Financial Officer Conference Call Participants Laura Martin - Needham & Co. Shweta Khajuria - Evercore ISI Darren Aftahi - ROTH Capital Partners Clark Lampen - BTIG Nicholas Zangler - Stephens, Inc. Operator Hello, my name is Melissa and I will be your con ...

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q For the transition period from _____________ to _____________ Commission File Number: 001-39590 (Mark One) fuboTV Inc. x QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact Name of Registrant as Specified in Its Charter) For the quarterly period ended June 30, 2022 | Florida | 26-4330545 | | --- | --- | | (State or Other Jurisdiction of | (I.R.S. Employer | | Incorpora ...

fuboTV Inc. (NYSE:FUBO) Q2 2022 Earnings Conference Call August 4, 2022 5:30 PM ET Company Participants Alison Sternberg - Senior Vice President of Investor Relations David Gandler - Co-Founder and Chief Executive Officer John Janedis - Chief Financial Officer Conference Call Participants Clark Lampen - BTIG, LLC Laura Martin - Needham & Company, LLC Shweta Khajuria - Evercore ISI Dillon Heslin - ROTH Capital Partners Jed Kelly - Oppenheimer & Co. Inc. Nicholas Zangler - Stephens Inc. Operator Good day, and ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 001-39590 fuboTV Inc. | Large accelerated filer | ☒ | Accelerated filer | ☐ | | --- | --- | --- | --- | | ...