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fuboTV(FUBO) - 2023 Q4 - Annual Results
2024-02-29 16:00
Exhibit 99.1 March 1, 2024 Fellow Shareholders: We continue to execute on our long-term strategy to provide an aggregated and curated sports-centric entertainment offering to our customers. We believe that a sports-first, live streaming experience should benefit all market participants, and we strive to be champions of the consumer on this front. Our mission has always been to serve the consumer by aggregating the best in TV, including premium sports, news and entertainment content, through a single app wit ...
fuboTV Inc. (FUBO) Presents at 26th Annual Needham Growth Conference (Transcript)
2024-01-17 19:11
fuboTV Inc. (NYSE:FUBO) 26th Annual Needham Growth Conference January 17, 2024 10:15 AM ET Company Participants David Gandler - Chief Executive Officer Conference Call Participants Laura Martin - Needham & Company Laura Martin [Call Starts Abruptly] …David Gandler. David was appointed Chief Executive Officer of Fubo in April of 2014. Prior to joining Fubo, David served as the Vice President of Ad Sales at DramaFever, a video streaming service acquired in 2016 by Warner Brothers. He's also held positions at ...
fuboTV(FUBO) - 2023 Q3 - Earnings Call Transcript
2023-11-03 14:55
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]
fuboTV(FUBO) - 2023 Q3 - Quarterly Report
2023-11-02 16:00
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 ...
fuboTV(FUBO) - 2023 Q2 - Quarterly Report
2023-08-06 16:00
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(FUBO) - 2023 Q2 - Earnings Call Transcript
2023-08-04 14:53
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 ...
fuboTV Inc. (FUBO) J.P. Morgan 51st Annual Global Technology, Media and Communications Conference (Transcript)
2023-05-24 19:10
fuboTV Inc. (NYSE:FUBO) J.P. Morgan 51st Annual Global Technology, Media and Communications Conference May 24, 2023 1:20 PM ET Company Participants David Gandler - Founder & CEO Conference Call Participants Philip Cusick - J.P. Morgan Operator Hi. Thanks for joining us. Welcome to the 51st Annual J.P. Morgan TMC Conference. My name is Phil Cusick. I follow the communications and media space, and I'm pleased to welcome David Gandler, CEO and Founder of fuboTV. David, thanks for joining us. David Gandler Than ...
fuboTV(FUBO) - 2023 Q1 - Quarterly Report
2023-05-07 16:00
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 March 31, 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) 1290 Avenu ...
fuboTV(FUBO) - 2023 Q1 - Earnings Call Transcript
2023-05-05 14:45
fuboTV Inc. (NYSE:FUBO) Q1 2023 Earnings Conference Call May 5, 2023 8:30 AM ET Company Participants Alison Sternberg - SVP, IR David Gandler - Co-Founder and CEO John Janedis - CFO Conference Call Participants Laura Martin - Needham Shweta Khajuria - Evercore ISI Darren Aftahi - ROTH MKM Operator Good morning. My name is Chris and I will be your conference operator today. At this time, I'd like to welcome everyone to the Fubo Q1 2023 Earnings Call. All lines have been placed on mute to prevent any backgrou ...
fuboTV(FUBO) - 2023 Q1 - Earnings Call Presentation
2023-05-05 12:16
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 ...