FuboTV Earnings Call Transcripts
Fiscal Year 2026
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Q3 saw strong subscriber growth and engagement, driven by major live events and enhanced by the integration with Disney's ad technology. Revenue and profitability improved year-over-year, with positive free cash flow and significant EBITDA growth targeted for 2027–2028.
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The meeting saw all board nominees elected and all six proposals approved, including amendments to the equity plan and certificate of incorporation. No questions were submitted during the Q&A, and management highlighted ongoing strategic focus and risk factors.
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Record Q2 revenue and adjusted EBITDA were achieved, driven by the Hulu + Live TV combination, flexible content packaging, and early gains from Disney ad server migration. Fiscal 2026 adjusted EBITDA is guided at $80M–$100M, with a $300M target by 2028.
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Q1 2026 marked the first quarter post-Hulu Live acquisition, delivering $1.68B pro forma revenue and positive adjusted EBITDA. Integration with Disney's ad tech and ESPN partnerships are expected to drive further growth and efficiency.
Fiscal Year 2025
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Completed the Hulu + Live TV combination, creating a top-6 Pay TV provider with nearly six million subscribers. Achieved record Q3 subscriber growth, positive adjusted EBITDA, and improved margins, while focusing on programming efficiencies, ad tech, and global expansion.
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Q2 delivered first-ever positive adjusted EBITDA of $20.7M and beat revenue and subscriber expectations, while North American revenue and subscribers declined YoY. Management expects seasonal subscriber gains in H2, with profitability seasonality and merger approvals remaining key considerations.
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The meeting saw the election of all nominated directors, approval of auditor ratification, executive compensation, and an amendment to the executive incentive plan. No shareholder questions were submitted, and management emphasized ongoing strategic focus on content aggregation.
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Global streaming exceeded subscriber and revenue targets, with North America revenue up 3.5% year-over-year and profitability metrics improving. Net income was boosted by a $220 million litigation gain, while ad revenue declined due to dropped content partners.
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Hulu + Live TV and Fubo will merge, with Disney holding 70% and Fubo shareholders 30%. The combined company expects over 6.2 million subscribers, $6 billion in revenue, and immediate cash flow positivity. Synergies in content and advertising, plus new financing, will drive growth and competitiveness.
Fiscal Year 2024
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Revenue grew 19% year-over-year to nearly $1.6 billion in 2024, with subscriber and ARPU records set. The company achieved its first quarter of positive free cash flow and announced a major combination with Hulu + Live TV, while guiding for modest revenue growth and subscriber declines in Q1 2025 due to content changes.
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Q3 2024 delivered 21% North America revenue growth and a 9% rise in paid subscribers, with significant improvements in adjusted EBITDA and net loss. Guidance projects continued growth, while ongoing antitrust litigation and industry shifts remain key factors.
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The session highlighted a shift to direct and programmatic ad sales, leveraging premium sports content and innovative ad formats to drive engagement and premium pricing. Enhanced data partnerships and advanced targeting enable precise audience segmentation, while evolving market trends favor flexibility, transparency, and outcome-based measurement.
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Q2 2024 saw strong revenue and subscriber growth, improved profitability metrics, and robust ad performance, especially in North America. Strategic debt repurchases and the launch of Fubo Free supported financial flexibility, while guidance for 2024 was raised.
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The meeting covered board elections, approval of all seven shareholder proposals, and outlined a continued focus on delivering premium TV content through a single app. No shareholder questions were submitted during the Q&A.