Financial Data and Key Metrics - Total revenue for Q3 2023 increased 43% YoY to $320.9 million, driven by 43% growth in North America and 45% growth in Rest of World [16] - North America ad revenue grew 34% YoY to $30.3 million, reflecting strong performance in direct sales and programmatic business [12][17] - Net loss improved by $21 million YoY to $84.4 million, with net loss margin improving to -26.3% from -47% in Q3 2022 [18] - Adjusted EBITDA loss improved to $61.5 million from $83 million in Q3 2022, with adjusted EBITDA margin improving to -19.2% from -36.9% [44] - Gross margin reached 6%, an 884 basis point improvement YoY, marking the fourth consecutive quarter of positive gross margin [43] - Free cash flow improved by $40 million, and the company ended the quarter with $266 million in cash, cash equivalents, and restricted cash [19] Business Line Performance - North America delivered $313 million in total revenue, up 43% YoY, with a record 1.477 million paid subscribers, up 20% YoY [12] - Rest of World revenue grew 45% YoY, with 411,000 subscribers, representing 15% YoY growth [42] - North America ARPU reached an all-time high of $83.51, while Rest of World ARPU was $6.98 [42] - Subscriber-related expenses (SRE) decreased to 89% of revenue, a 619 basis point improvement YoY [37] Market Performance - The company raised its 2023 North America guidance to $1.319 billion to $1.324 billion in total revenue, representing 34% YoY growth at the midpoint, and 1.584 million to 1.599 million paid subscribers, representing 10% YoY growth at the midpoint [6][20] - For Rest of World, full-year 2023 guidance projects 388,000 to 393,000 subscribers, representing a 7% YoY decline at the midpoint, and revenue of $32 million to $33 million, representing 33% YoY growth at the midpoint [46] Strategy and Industry Competition - The company aims to be a "super aggregator," focusing on sports-first content and personalized streaming experiences, leveraging technology like MultiView and 4K streaming [7][14] - The industry is shifting towards "The Great Rebundling," with Fubo positioning itself as a leader in aggregation, offering diverse content packages at multiple price points [13][38] - The company is focused on direct ad sales and programmatic guaranteed, with direct sales increasing to 20% of total ad revenue in Q3 2023, up from a third of that in Q3 2022 [55] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, citing strong operational and go-to-market initiatives [21] - The company is making progress towards its 2025 positive cash flow goal, with significant improvements in cash usage and cost discipline [37] - Management highlighted the impact of the Charter-Disney dispute, which accelerated the shift towards aggregation and benefited Fubo's market position [57] Other Important Information - The company added FAST channels, which have contributed significantly to advertising revenue, with over 100 hours of viewership on the platform [31] - The company is focused on improving profitability by driving revenue over subscriber growth, with a conservative approach to marketing in Q4 to maintain efficiency [74] Q&A Session Summary Question: Advertiser sentiment and ad revenue trends [23] - Advertiser sentiment remains cautious due to geopolitical uncertainties, but the company has not seen significant cancellations [25] - Strong ad revenue growth was driven by retail, e-commerce, auto, home and garden, and pharma, while food and beverage, insurance, and tech were weaker [48] - October ad revenue trends were lighter than Q3, with Q4 expected to be closer to Q2 growth rates [50] Question: Impact of Charter-Disney dispute on subscriber growth [60] - The dispute had a limited impact on subscriber growth due to its short duration, but it helped increase brand awareness and market share [71] - The company expects continued growth in subscribers and engagement, with viewing hours per subscriber up significantly YoY [90] Question: Operating leverage and sustainability [56] - The company has demonstrated operating leverage, with sales and marketing expenses growing at a slower rate than revenue [69] - The company expects continued operating leverage on an annual basis, driven by lower-cost channels and efficient marketing strategies [69] Question: FAST channels and content strategy [75] - FAST channels have been successful in driving advertising revenue and viewership, with the company limiting the number of channels to under 150 to maintain quality [76] - The company has removed some entertainment content but has seen FAST channels compensate for the loss in viewership [77] Question: Progress towards profitability [84] - The company has made significant progress towards profitability, with adjusted EBITDA improving by nearly $100 million YoY and incremental EBITDA margin at 22% [85] - Contribution profit has expanded for six consecutive quarters, and the company is on track to achieve its 2025 positive cash flow goal [97] Question: Distribution relationships and competition [91] - The company expects stronger relationships with distributors and content partners, leveraging its technology platform and execution capabilities [82] - The company remains confident in its position despite competition from tech giants like Amazon and Apple, citing strong relationships and a robust sports content portfolio [99]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 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) | Flor ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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 | ...

fuboTV Inc. (NYSE:FUBO) Q2 2023 Earnings Conference Call August 4, 2023 8:30 AM ET Company Participants Alison Sternberg - Investor Relations David Gandler - Co-Founder and Chief Executive Officer John Janedis - Chief Financial Officer Conference Call Participants Laura Martin - Needham Darren Aftahi - ROTH MKM Nick Zangler - Stephens Operator Thank you for standing by, and welcome to the Fubo Q2 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the spe ...

Revenue Performance - Total revenues for the three months ended March 31, 2023, were $324.4 million, an increase of $82.1 million (33.9%) compared to $242.3 million for the same period in 2022[187]. - Subscription revenue increased by $81.7 million, driven by a $59.2 million increase in the subscriber base and a $22.5 million increase from subscription package prices and attachments sold[187]. - Advertising revenue decreased by $0.4 million, primarily due to a decrease in the number of impressions sold, partially offset by an increase in Cost Per Thousands (CPMs)[187]. Subscriber Metrics - As of March 31, 2023, the company had 1.3 million paid subscribers in North America, an increase from 1.1 million in the same period of 2022, and 0.4 million paid subscribers in the Rest of World, up from 0.3 million[199]. - The Average Revenue Per User (ARPU) for North America was $76.79 for the three months ended March 31, 2023, compared to $71.43 in the same period of 2022, representing an increase of 4.0%[202]. Expenses and Losses - Subscriber related expenses rose to $301.4 million, an increase of $55.7 million (22.7%) compared to $245.7 million in the prior year, mainly due to higher affiliate distribution rights and other distribution costs[188]. - General and administrative expenses decreased significantly to $14.7 million, down $12.0 million (45.0%) from $26.7 million in the same quarter of 2022[192]. - The operating loss for the three months ended March 31, 2023, was $81.5 million, an improvement from a loss of $122.9 million in the same period of 2022[184]. - Net loss from continuing operations was $83.4 million, compared to a net loss of $128.4 million for the same period in 2022[184]. Discontinued Operations - The company ceased operations of its Fubo Sportsbook on October 17, 2022, with results reported as discontinued operations[161]. - The loss from discontinued operations was $0.3 million for the three months ended March 31, 2023, significantly lower than the $12.5 million loss reported in the same period of 2022, related to the terminated wagering business[196]. Financial Position - Net cash used in operating activities for the three months ended March 31, 2023, was $77.0 million, an improvement from $119.2 million in the same period of 2022[215]. - As of March 31, 2023, the company had cash, cash equivalents, and restricted cash totaling $364.8 million[227]. - The company had outstanding indebtedness of $410.1 million as of March 31, 2023, which included $402.5 million of convertible notes[227]. - The company raised approximately $106.1 million in net proceeds from the sale of common stock during the three months ended March 31, 2023, under the ATM Program[210]. Future Outlook - The company expects to continue as a going concern for at least the next twelve months based on existing cash and cash equivalents[213]. - The company continues to focus on growing its paid subscriber base, optimizing content portfolio, and increasing monetization strategies[162]. - The company does not anticipate any material impact on long-term development timelines or liquidity due to macroeconomic factors, although ongoing assessments are being conducted[214]. Accounting and Financial Reporting - The company has not made any material changes to its critical accounting policies and estimates from those disclosed in the previous annual report[224]. - The preparation of financial statements requires estimates and assumptions that affect reported amounts of assets, liabilities, revenues, and expenses[223]. - There were no off-balance sheet arrangements as of March 31, 2023[222]. Currency and Interest Rate Impact - Revenues denominated in currencies other than the U.S. dollar accounted for approximately 2.4% of the consolidated amount for the three months ended March 31, 2023[228]. - A hypothetical 10% change in interest rates would not have resulted in a material impact on the company's consolidated financial statements as of March 31, 2023[227]. - A hypothetical 10% weakening of the euro relative to the U.S. dollar would not materially affect the company's revenue and operating income as of March 31, 2023[228]. - The company does not enter into investments for trading or speculative purposes and has not used any derivative financial instruments to manage interest rate risk exposure[227].

fubo Q Home J My Profile Sports My Stuff Shows Movies Guide Popular Shows fubo abc (abc) 1Q23 EARNINGS May 5, 2023 Genres All Movies Action Comedy Drama - ■ ■ = :: Talking: Shows for you l © 2 DISCLAIMER Forward-Looking Statements This presentation contains forward-looking statements of FuboTV Inc. ("Fubo") that involve substantial risks and uncertainties. All statements contained in this presentation that do not relate to matters of historical fact are forward-looking statements within the meaning of The P ...

4 NORTH AMERICA ADVERTISING Advertising Revenue ($ millions) $25.9 4Q21 4Q22 30% $33.6 fubo 94% 93% 8% 6% 19% 18% 5% 5% 10%5% 4% 3% 18% 7% 4Q21 4Q22 Depreciation and amortization General and administrative Technology and development Sales and marketing Broadcasting and transmission Subscriber related expenses Discontinued operations fubo 4Q22 and 4Q21 Operating Expenses are as-reported. 6 NET LOSS & ADJUSTED EBITDA: CONTINUING OPERATIONS $0.0 0.0% -5.0% ($40.0) -10.0% -15.0% -20.0% -25.0% ($120.0) -30.0% -3 ...

Financial Performance - The company incurred a net loss of $561.9 million for the year ended December 31, 2022[73]. - The company has federal net operating loss carryforwards of approximately $1,207.3 million as of December 31, 2022[78]. - The company recorded a non-cash goodwill impairment charge of $10.7 million for the wagering segment during the quarter ended June 30, 2022, due to sustained decreases in stock price and market capitalization[124]. - The company recognized a non-cash impairment charge of $76.7 million related to Fubo Sportsbook, representing substantially all of its long-lived assets[126]. - The company is currently delinquent in filing annual tax returns, which may result in penalties and adversely affect operating results[163]. - Changes in tax laws, including the introduction of a 15% corporate minimum tax, could increase the company's overall tax liability and impact its financial condition[167]. Debt and Capital Structure - As of December 31, 2022, the company had $410.2 million of outstanding indebtedness, including $402.5 million of convertible notes[80]. - The conditional conversion feature of the 2026 Convertible Notes may adversely affect the company's liquidity if triggered[219]. - The accounting method for convertible debt securities could materially affect the company's reported financial results, particularly diluted earnings per share[220]. - The provisions in the indenture for the 2026 Convertible Notes may deter favorable business combinations, impacting strategic opportunities[221]. - Future sales of capital stock may dilute existing shareholders' ownership[227]. - The company may issue additional shares of capital stock in the future, which could result in substantial dilution[227]. Revenue and Growth Challenges - The company anticipates that seasonal variations in subscriber behavior will continue to significantly affect its revenue, particularly during the third and fourth quarters[76]. - The company expects future operating expenses to increase as it expands operations, which may lead to further operating losses if revenue does not grow at a greater rate[73]. - The company has experienced rapid growth in both subscriber numbers and revenue over the past few years, but maintaining this growth rate is expected to become increasingly difficult[88]. - The company faces risks from increased competition in TV streaming, which could lead to pricing pressure and reduced revenue[131]. - Future growth is dependent on the acceptance and growth of OTT advertising, which is currently highly competitive[133]. - Consumer spending declines during recessionary periods could hinder subscriber retention and acquisition, negatively impacting revenue[183]. Regulatory and Compliance Risks - Compliance with various data protection and privacy laws, such as the GDPR and CCPA, may impact the company's business operations and costs[65]. - The company may face significant liabilities and penalties if it fails to comply with government regulations affecting its business[64]. - The company anticipates ongoing regulatory inquiries and investigations, which may incur substantial costs and require changes to business practices[153]. - Non-compliance with gaming regulations could expose the company to substantial fines and negative publicity, impacting its financial condition and results[152]. - The company is subject to evolving internet regulations, which may increase operating expenses and require alterations to its business model[158]. Competition and Market Position - The company operates in a highly competitive industry, competing for advertising revenue with both internet streaming platforms and traditional media[99]. - The competitive landscape for TV streaming includes major players like AT&T, Comcast, and Hulu, which have significant financial resources to subsidize their services[129]. - The company emphasizes the importance of building a strong brand to attract and retain subscribers, as competition in the streaming market is intense[110]. - The company must continuously provide compelling content choices to attract and retain subscribers, as competition increases[95]. - The company is making efforts to expand its content offerings beyond live sports, but faces challenges in overcoming its reputation as primarily a sports streaming service[135]. Operational and Technological Risks - The company relies on Google Cloud Platform and Amazon Web Services for its operations, and any disruption in these services could adversely impact its business[113]. - The complexity of agreements with content providers imposes significant compliance burdens, which could negatively impact financial performance if not managed properly[107]. - The company relies on proprietary and third-party technology for content delivery, and any failures in these systems could negatively impact operations[146]. - The company may face challenges in obtaining necessary third-party technology licenses, which could impair the development of platform enhancements[216]. International Expansion - The company is expanding its international operations, adapting to varied content offerings and differing legal and regulatory environments[87]. - The company generates the majority of its revenue in the U.S. and has limited experience in international markets, which poses risks to its expansion plans[175]. - International operations involve significant risks, including differing legal requirements, slower adoption of streaming services, and political or social unrest[177]. Cybersecurity and Data Privacy - The company experienced a cyber-attack on December 14, 2022, resulting in a temporary service outage, highlighting vulnerabilities in its cybersecurity measures[201]. - The adequacy of the company's insurance coverage for data security liabilities remains uncertain, posing a risk to its financial condition[204]. - The company faces risks related to unauthorized access to its systems, which could lead to data breaches and significant reputational damage[203]. Strategic and Operational Management - The company must effectively manage its growth to avoid straining its operational and financial infrastructure, which is critical for maintaining profitability[86]. - The company has experienced significant growth in employee numbers and operational scope, necessitating improvements in managerial and financial systems[117]. - The company regularly reviews key metrics such as average revenue per user and number of subscribers to evaluate growth trends and performance[119]. - Ongoing litigation could incur unforeseen expenses and distract management, potentially harming business operations and financial position[172].

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.