Fubo is under threat from a potential new entrant into the sports streaming market.Fool.com contributor Parkev Tatevosian evaluates the latest results for Fubo (FUBO 1.50%) and determines if the stock is a buy. *Stock prices used were the afternoon prices of May 2, 2024. The video was published on May 4, 2024. ...

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, 2024 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 ...

Financial Data and Key Metrics - Fubo achieved $394 million in total revenue for Q1 2024, up 24% year-over-year [19] - Paid subscribers reached 1,511,000, an 18% year-over-year increase [19] - North American ad revenue grew to $27.2 million, a 21% year-over-year increase [19] - Adjusted EBITDA margin improved to minus 10%, a 796 basis points improvement compared to Q1 2023 [20] - Free cash flow and adjusted EBITDA improved for the fifth consecutive quarter [20] - Global revenue grew by 24% to $402.3 million, driven by 24% growth in North America and 7% growth in Rest of World [31] - Adjusted EBITDA loss improved to $41.1 million from $58.9 million in Q1 2023 [33] - Net loss improved to $56.3 million, a 32% reduction year-over-year [48] Business Line Data and Key Metrics - North American ARPU improved to $84.54 from $76.79 in the prior-year period [27] - Rest of World ARPU improved to $7 from $6.57 [27] - Advertising revenue totaled $27.5 million, a 21% increase year-over-year [32] - FAST channels accounted for 9% of total viewing hours, with hours per subscriber far exceeding overall subscriber growth [80][81] Market Data and Key Metrics - Fubo achieved the lowest subscriber acquisition cost (SAC) to ARPU ratio in its history, well below the target range of 1 to 1.5 times [21] - March 2024 marked the lowest churn rate for any March on record for the company [21] - The company expects 1.275 million to 1.295 million North American subscribers in Q2 2024, representing 10% year-over-year growth [41] - Full-year 2024 North American revenue guidance is $1.525 billion to $1.545 billion, representing 15% year-over-year growth [41] Company Strategy and Industry Competition - Fubo is focused on tech innovation, particularly in AI-driven playlists and personalized DVR experiences [4][83] - The company is committed to achieving profitability by 2025, with a focus on cost-cutting and operational efficiency [67][102] - Fubo is engaged in litigation against The Walt Disney Company, Fox Corp, and Warner Bros Discovery, alleging anti-competitive practices [6][7] - The company is introducing a free tier and expanding its FAST channel offerings to drive engagement and monetization [79][87] Management Commentary on Operating Environment and Future Outlook - Management highlighted the challenges posed by above-market content licensing costs, which accounted for 90% of total revenue in Q1 [6] - The company is encouraged by the progress in its antitrust lawsuit and the support from competitors like DIRECTV and Dish [7][25] - Fubo expects continued ARPU expansion and improved unit economics, with revenue growth outpacing subscriber growth [41] - The company is focused on maintaining discipline in subscriber acquisition costs while investing in advertising and monetization capabilities [42][56] Other Important Information - Fubo has received strong support from Capitol Hill, with Congressmen expressing concerns over the JV's control of 80% of broadcast sports content [23][25] - The company has signed agreements with Comscore and TransUnion to enhance cross-platform measurement and data capabilities for advertisers [60] - Fubo's Molotov service in France has grown revenue from $7 million in 2020 to over $30 million, with a gross margin profile just below 40% [91][92] Q&A Session Summary Question: What is driving the lower churn and SAC? - The marketing team has improved efficiency, spending at the right time and moving budgets effectively, leading to the lowest SAC in company history [42][43] Question: What is driving the strong advertising performance? - New sales leadership and improved programmatic capabilities have driven advertising growth, with Q1 ad revenue up 21% year-over-year [43][56] Question: Will Fubo increase customer acquisition spending given the tailwind in advertising? - The company remains disciplined, focusing on achieving profitability by 2025, and will not significantly increase customer acquisition spending despite efficient SAC [67] Question: What is the outlook for the free tier and FAST channels? - FAST channels now account for 9% of viewing hours, and the free tier is expected to drive engagement and monetization when launched later this year [79][80][87] Question: How will the termination of the Warner Bros Discovery contract impact pricing? - Fubo plans to maintain current pricing, with savings flowing to the bottom line rather than altering pricing strategy [98] Question: What measures are being taken to ensure sustainable long-term growth? - Fubo is focused on cost-cutting, content strategy, technology development, and expanding reach and distribution, including the launch of a free tier [95][102]

We continue to believe in the merits of our lawsuit, and thank those who have publicly supported us, such as DIRECTV and DISH. We remain steadfast in our fight to level the playing field of the sports streaming industry since, as alleged in our court filings, we believe the launch of the joint venture (a collaboration to introduce a sports-only streaming service) controlled by these parties could cause irreparable harm to Fubo and to consumers. A win for Fubo is a big win for consumers, and we are encourage ...

NEW YORK--(BUSINESS WIRE)--FuboTV Inc. (d/b/a/ Fubo) (NYSE: FUBO), and Mid-Atlantic Sports Network (MASN) announced today a carriage agreement that will expand streaming coverage of the Baltimore Orioles and Washington Nationals to the leading sports-first live TV streaming platform. Ahead of Major League Baseball Opening Day (March 28, 2024), MASN will be available to Fubo subscribers across a seven-state region, from Harrisburg, Pa., to Charlotte, N.C. Fubo will stream MASN’s coverage of every availabl ...

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, 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 ________ | Large accelerated filer | o | Accelerated filer | x | | --- | --- | --- | --- | | Non-accelerated filer | o | Smaller repo ...

fuboTV Inc. (FUBO) reported $410.18 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 28.5%. EPS of -$0.17 for the same period compares to -$0.48 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $397.37 million, representing a surprise of +3.22%. The company delivered an EPS surprise of +32.00%, with the consensus EPS estimate being -$0.25.While investors closely watch year-over-year changes in headline numbers -- revenue and earning ...

FuboTV Inc. (FUBO) came out with a quarterly loss of $0.17 per share versus the Zacks Consensus Estimate of a loss of $0.25. This compares to loss of $0.48 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 32%. A quarter ago, it was expected that this company would post a loss of $0.25 per share when it actually produced a loss of $0.22, delivering a surprise of 12%.Over the last four quarters, the company has surpassed consensu ...

NEW YORK--(BUSINESS WIRE)--FuboTV Inc. (d/b/a/ Fubo) (NYSE: FUBO), the leading sports-first live TV streaming platform, today announced its financial results for the fourth quarter and full year ended December 31, 2023. The Company exceeded guidance across key financial and operating metrics in North America, posting double digit year-over-year (YoY) revenue and subscriber growth during the fourth quarter. Fubo ended the quarter with 1.618 million paid subscribers, up 12% YoY, and $402 million in total r ...

Financial Performance - In Q4 2023, Fubo achieved a 12% year-over-year growth in subscribers, reaching 1.618 million, and a 29% year-over-year revenue growth in North America, totaling $402 million[3][9]. - Fubo's total revenue for Q4 2023 was $410.2 million, reflecting a 28% increase compared to Q4 2022[8]. - Total revenues for Q4 2023 reached $410.2 million, a 28.5% increase from $319.3 million in Q4 2022[33]. - Subscription revenue increased to $370.1 million, up 30% from $284.9 million year-over-year[33]. - Total Revenue for the full year 2023 was $1,368,225,000, compared to $1,008,696,000 in 2022, marking a 36% increase[58]. - Fubo's North America ad revenue for Q4 2023 was $38.6 million, a 15% increase year-over-year, contributing to a total of $114 million for FY 2023, up 14%[14]. Profitability and Losses - The net loss for Q4 2023 was $71 million, an improvement of 26% from a net loss of $95.9 million in Q4 2022[9]. - The net loss attributable to common shareholders for the year 2023 was $287.5 million, compared to a loss of $561.5 million in 2022, representing a 48.9% improvement[33]. - The company reported a comprehensive loss of $282.6 million for the year 2023, down from $562.2 million in 2022[33]. - The adjusted net loss from continuing operations for the full year ended December 31, 2023, was $203,807,000, compared to $332,488,000 in 2022, indicating a 39% year-over-year improvement[62]. - For the three months ended December 31, 2023, fuboTV reported a net loss attributable to common shareholders of $70,090,000, a significant improvement from a net loss of $151,981,000 for the same period in 2022, representing a 54% reduction in losses[61]. Cash Flow and Liquidity - The company ended Q4 2023 with $251 million in cash, cash equivalents, and restricted cash, ensuring sufficient liquidity for ongoing operations[12][22]. - Cash and cash equivalents decreased to $245.3 million as of December 31, 2023, from $337.1 million a year earlier[35]. - Free Cash Flow for Q4 2023 was $(5,853,000), compared to $(20,555,000) in Q4 2022, showing a significant decrease in cash outflow[59]. Subscriber Metrics - The average revenue per user (ARPU) in North America increased by 15% year-over-year to an all-time high of $86.65[3][9]. - The subscriber guidance for FY 2024 is set at 1,665,000 to 1,685,000, indicating a 4% year-over-year growth at the midpoint[18]. - North America Monthly Average Revenue per User (NA ARPU) for the full year 2023 was $82.25, up from $72.74 in 2022, indicating a 13% increase[54]. Strategic Initiatives - Fubo plans to continue investing in technology and content expansion, including the integration of AI features into its platform[4][17]. - The company aims to achieve cash flow positivity by 2025, focusing on growth and profitability[31]. - The company plans to continue investing in technology advancements and content partnerships to enhance user experience and market position[31]. - The company continues to focus on improving operational efficiency and reducing losses as part of its strategic initiatives[61]. Shareholder Information - The weighted average shares outstanding increased to 294.7 million in Q4 2023 from 200.1 million in Q4 2022[34]. - The weighted average shares outstanding for the three months ended December 31, 2023, increased to 294,737,521 from 200,129,461 in the prior year, reflecting a 47% increase[61]. Adjusted Metrics - Adjusted EBITDA improved by $25 million year-over-year to a loss of $50.7 million, marking a 33% improvement[8][11]. - Adjusted EBITDA for Q4 2023 was $(50,691,000), an improvement from $(75,431,000) in Q4 2022, reflecting a reduction in losses[57]. - Adjusted Net Loss for the full year 2023 was $(201,639,000), an improvement from $(323,834,000) in 2022[58]. - The adjusted EPS from continuing operations for the three months ended December 31, 2023, was $(0.17), an improvement from $(0.39) in the same quarter of the previous year[61]. Other Financial Metrics - The net loss from discontinued operations for the full year 2023 was $5,185,000, a significant improvement from a loss of $136,874,000 in 2022[62]. - Stock-based compensation for the full year 2023 was $51,215,000, slightly lower than $52,454,000 in 2022[62]. - The amortization of intangibles for the full year 2023 was $35,043,000, compared to $35,484,000 in 2022, showing a minor decrease[62].