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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
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].
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 ...
fuboTV(FUBO) - 2022 Q4 - Earnings Call Transcript
2023-02-27 18:23
fuboTV Inc. (NYSE:FUBO) Q4 2022 Earnings Conference Call February 27, 2023 8:30 AM ET Company Participants Alison Sternberg - Senior Vice President, Investor Relations David Gandler - Co-Founder and Chief Executive Officer John Janedis - Chief Financial Officer Conference Call Participants Shweta Khajuria - Evercore ISI Laura Martin - Needham & Company Clark Lampen - BTIG Phil Cusick - JPMorgan Dillon Heslin - ROTH Capital Partners Nick Zangler - Stephens Jim Goss - Barrington Research Operator Good morning ...
fuboTV(FUBO) - 2022 Q4 - Earnings Call Presentation
2023-02-27 18:22
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 ...
fuboTV(FUBO) - 2022 Q4 - Annual Report
2023-02-26 16:00
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, 2022 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 | 26-4330545 | ...
fuboTV Inc. (FUBO) Management Presents at 25th Annual Needham Growth Conference (Transcript)
2023-01-11 03:56
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.