FuboTV Inc. FUBO
With a global mission to aggregate the best in TV, including premium sports, news and entertainment content, through a single app, Fubo aims to transcend the industry's current TV model.
We are a sports-first, Pay TV replacement product offering subscribers access to tens of thousands of live sporting events annually, alongside leading news and entertainment content, both live and on demand. Fubo's platform is designed to empower customers to seamlessly access content through streaming devices and on Smart TVs, mobile phones, tablets, and computers.
Live TV streaming has disrupted the traditional Pay TV model (linear video delivered via cable or satellite providers for a paid subscription), which we refer to as "Pay TV." This disruption has shifted billions of dollars in subscription and advertising revenue to over-the-top ("OTT") streaming platforms, as evidenced by the accelerating rate of Pay TV cord-cutting in the United States. We believe there remains a significant opportunity for us to capitalize on the cord-cutting movement.
Valuation FY2024 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.62B | $1.37B | $1.01B | $638.4M | $217.7M | $4.3M | — | $41.0K | $24.0K | $964.0K |
| Cost of revenue | — | — | — | — | — | — | — | $8.0K | $6.0K | $792.0K |
| Gross profit | — | — | — | — | — | — | — | $33.0K | $18.0K | $172.0K |
| R&D | $80.0M | $67.7M | $69.3M | $55.4M | $30.2M | — | — | — | $161.0K | — |
| SG&A | $75.1M | $64.3M | $81.2M | $89.0M | $77.6M | $13.3M | $6.7M | $1.2M | $276.0K | $247.0K |
| Total operating expenses | $1.82B | $1.66B | $1.42B | $966.6M | $697.6M | $43.2M | $15.0M | $1.2M | $1.2M | $3.2M |
| Operating income | -$196.0M | -$289.4M | -$411.9M | -$328.3M | -$479.9M | -$38.9M | -$15.0M | -$1.1M | -$1.2M | -$3.0M |
| Interest expense | $20.9M | $13.7M | $14.2M | — | — | — | $2.7M | $911.0K | $168.0K | $340.0K |
| Pre-tax income | -$177.1M | -$294.0M | -$426.7M | -$354.5M | -$609.1M | -$43.4M | -$15.2M | $10.5M | — | — |
| Income tax | $659.0K | $879.0K | $1.7M | $2.7M | $9.7M | $5.3M | $2.1M | — | — | — |
| Net income | -$176.1M | -$287.9M | -$561.9M | -$383.0M | -$599.4M | -$34.4M | -$10.6M | $10.5M | -$10.1M | -$7.6M |
| EPS, basic | -0.54 | -1.04 | -3.08 | -2.78 | -12.82 | — | -2.37 | 7.12 | -359.42 | — |
| EPS, diluted | -0.54 | -1.04 | -3.08 | -2.78 | -12.82 | -1.57 | -2.37 | 0.74 | -359.42 | -1,237.87 |
| Shares, diluted (wtd. avg.) | $319.7M | $276.3M | $182.5M | $137.5M | $44.5M | — | $4.5M | $2.2M | $28.0K | — |
Balance sheet
| Fiscal year | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $161.4M | $245.3M | $337.1M | $371.0M | $134.9M | $7.6M | $31.0K | $77.0K | $77.0K | $48.0K |
| Receivables | $71.1M | $80.3M | $44.0M | $34.3M | $17.5M | $8.9M | — | — | $10.0K | — |
| Inventory | — | — | — | — | — | $49.0K | — | — | — | — |
| Total current assets | $274.0M | $386.8M | $436.9M | $428.5M | $156.7M | $18.0M | $31.0K | $77.0K | $115.0K | $61.0K |
| Property, plant and equipment | $6.1M | $4.8M | $5.0M | $5.1M | $1.8M | $335.0K | $14.0K | $6.0K | — | $2.0K |
| Goodwill | $615.4M | $622.8M | $618.5M | $619.6M | $478.4M | $227.8M | $150.0M | — | — | — |
| Other intangibles | $133.7M | $158.4M | $171.8M | $203.6M | $216.4M | $116.6M | $136.1M | — | — | — |
| Total assets | $1.08B | $1.23B | $1.28B | $1.37B | $859.3M | $368.2M | $286.1M | $86.0K | $115.0K | $313.0K |
| Accounts payable | $67.8M | $74.3M | $67.0M | $55.8M | $31.2M | $36.4M | $2.5M | $112.0K | $49.0K | $22.0K |
| Total current liabilities | $515.3M | $517.3M | $438.8M | $337.3M | $227.3M | $67.4M | $18.6M | $3.2M | $14.6M | $5.7M |
| Long-term debt | — | — | — | — | — | $44.0M | — | — | — | — |
| Total liabilities | $896.6M | $948.8M | $874.4M | $698.9M | $236.4M | $145.0M | $53.6M | $3.2M | — | — |
| Retained earnings | -$2.02B | -$1.85B | -$1.56B | -$1.01B | -$626.5M | -$56.1M | -$21.8M | -$11.2M | -$21.6M | -$11.6M |
| Total equity | $180.8M | $283.8M | $401.7M | $670.9M | $622.9M | $222.7M | $232.6M | -$3.1M | -$14.4M | -$5.4M |
Cash flow
| Fiscal year | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$79.5M | -$177.6M | -$316.7M | -$195.9M | -$149.0M | $1.7M | -$3.2M | -$612.0K | -$603.0K | -$915.0K |
| Depreciation and amortisation | $1.4M | $1.5M | $1.2M | $700.0K | $400.0K | $100.0K | $8.0K | $0 | $2.0K | $1.0K |
| Stock-based compensation | $42.5M | $51.2M | $52.5M | $53.1M | $50.7M | $1.1M | — | — | $319.0K | $1.9M |
| Capital expenditure | $2.7M | $1.1M | $1.1M | $3.4M | $166.0K | $175.0K | — | $6.0K | — | — |
| Investing cash flow | -$15.8M | -$25.4M | -$12.4M | -$76.2M | -$1.5M | $1.5M | — | -$6.0K | $180.0K | -$250.0K |
| Financing cash flow | $11.5M | $111.2M | $296.3M | $512.0M | $279.1M | $4.4M | $3.1M | $618.0K | $452.0K | $1.1M |
| Buybacks | — | — | — | $8.5M | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-043532.
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