fuboTV(FUBO) - 2025 Q2 - Quarterly Results

Preliminary Q2 2025 Financial Results Executive Summary & Highlights Fubo announced preliminary Q2 2025 results, expecting to surpass its revenue and subscriber guidance for its global streaming business, anticipating its first-ever quarter of positive Adjusted EBITDA and a significant year-over-year improvement in net loss, alongside a strong cash position - Fubo's global streaming business is expected to exceed its Q2 2025 revenue and subscriber guidance[2] - The company expects its first quarter of positive Adjusted EBITDA, marking a significant milestone[3] - The full earnings release and conference call are scheduled for August 8, 2025[2][6] Regional Performance Breakdown Both the North America and Rest of World (ROW) segments are projected to exceed their prior guidance for revenue and paid subscribers in Q2 2025, with North America revenue expected to surpass $365 million and ROW revenue expected to exceed $8.5 million Q2 2025 Preliminary Results vs. Guidance | Region | Metric | Expected Result | Prior Guidance (Midpoint) | | :--- | :--- | :--- | :--- | | North America | Total Revenue | > $365 million | $345 million | | | Paid Subscribers | > 1.350 million | 1.240 million | | Rest of World (ROW) | Total Revenue | > $8.5 million | $7 million | | | Paid Subscribers | > 340,000 | 330,000 | Consolidated Financial Performance Fubo projects a significant improvement in profitability for Q2 2025, with an expected net loss of approximately $8 million (an $18 million YoY improvement) and positive Adjusted EBITDA of at least $20 million (a $30 million YoY improvement), alongside a strong cash position of at least $285 million Q2 2025 Preliminary Consolidated Financials & YoY Improvement | Metric | Q2 2025 (Expected) | YoY Improvement | | :--- | :--- | :--- | | Net Loss | ~$8 million | ~$18 million | | Adjusted EBITDA | ≥ $20 million | ≥ $30 million | | Cash & Equivalents | ≥ $285 million | N/A | Future Outlook & Guidance Due to the pending business combination with Hulu + Live TV, Fubo is pausing all future subscriber and revenue guidance and has withdrawn its previously stated 2025 profitability target to maintain operational flexibility during this period - Fubo is pausing the provision of future guidance for subscribers and revenue while the proposed business combination with Hulu + Live TV is pending[4] - The company is withdrawing its previously communicated 2025 profitability target to retain flexibility[4] Non-GAAP Financial Measures & Reconciliations Definition of Key Metrics The company defines "Paid Subscribers" as users who have completed registration and provided a payment method, excluding those on a free trial, and "Adjusted EBITDA" as a non-GAAP measure calculated by adjusting Net Loss from continuing operations for items like depreciation, stock-based compensation, and certain litigation/transaction expenses - Paid Subscribers are defined as total users who have completed registration and activated a payment method, from which payment has been collected, excluding free trial users[12] - Adjusted EBITDA is a non-GAAP measure defined as Net income (loss) from continuing operations, adjusted for items including depreciation, amortization, stock-based compensation, and certain litigation and transaction expenses[13] Reconciliation of Net Loss to Adjusted EBITDA Fubo provided a reconciliation of its preliminary Q2 2025 Net Loss to Adjusted EBITDA, expecting a preliminary Adjusted EBITDA of approximately $20.7 million, a significant turnaround from the negative $11.0 million reported in Q2 2024, driven by a lower net loss and adjustments for various expenses Reconciliation of Preliminary Net Income (Loss) to Non-GAAP Preliminary Adjusted EBITDA (in thousands) | | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | Preliminary Net income (loss) from continuing operations | $ (8,026) | $ (25,833) | | Depreciation and amortization | 10,138 | 9,519 | | Stock-based compensation | 8,253 | 10,308 | | Certain litigation and transaction expenses | 8,271 | 4,856 | | Other (income) expense | 1,875 | (9,941) | | Income tax provision | 152 | 99 | | Preliminary Adjusted EBITDA | $ 20,663 | $ (10,992) | - Adjustments for "Certain litigation and transaction expenses" are attributed to antitrust/data privacy litigation and professional advisor costs related to the pending business combination with Hulu + Live TV[17] Additional Information & Disclosures Conference Call Information Fubo will host a conference call on Friday, August 8, 2025, at 8:30 a.m. ET to discuss the full second-quarter results, with dial-in details and information for accessing the live webcast provided - A conference call to review full Q2 2025 results is scheduled for August 8, 2025, at 8:30 a.m. ET, with dial-in and webcast details provided[6][7] About Fubo Fubo is a sports-first live TV streaming platform operating in the U.S., Canada, Spain, and France (via Molotov), aiming to be a cable TV replacement in the U.S. by offering over 400 live networks and being the only vMVPD with every English-language Nielsen-rated sports channel - Fubo operates its streaming service in the U.S., Canada, and Spain, and also operates Molotov in France[8] - In the U.S., Fubo is positioned as a sports-first cable TV replacement, notable for being the first vMVPD to launch features like 4K streaming and MultiView[9] Basis of Presentation The financial information presented is on a "continuing operations" basis, excluding the results from the company's former wagering segment (Fubo Gaming and Fubo Sportsbook), which are now classified as discontinued operations - The financial results presented are for continuing operations and exclude the former wagering reportable segment (Fubo Sportsbook), which is now treated as a discontinued operation[11] Forward-Looking Statements & Disclosures The press release contains forward-looking statements regarding preliminary financial results and business strategy, which are subject to substantial risks and uncertainties, and includes a financial disclosure advisory stating that the reported numbers are preliminary and may change upon completion of quarter-end financial closing procedures - The release contains forward-looking statements involving risks and uncertainties, and the company disclaims any obligation to update them[18] - All financial data is preliminary and subject to change as final quarter-end accounting procedures are completed[19]