fuboTV Inc. Q4 FY2025 earnings call

• The company closed its business combination with Hulu + Live TV, with pro forma 12-month revenue of $6.2 billion and 6.2 million subscribers in North America.
• Nearing completion of integrating fuboTV Inc.'s ad tech into the Disney ad server, expected to boost CPM and fill rates.
• Working with ESPN to include fuboTV Inc. Sports in ESPN's commerce flow, targeting sports-centric audience with lower customer acquisition costs.
• Record-high subscribers on fuboTV Inc.'s Latino product, with Hulu Live launching a Spanish language bundle.
• Focus on content cost efficiencies and market-based pricing as content agreements renew.
• Update on NBCUniversal renewal: discussions paused due to Versant spin-off, Comcast not reengaging currently, but subscriber impact has been modest.

In North America, reported revenue for fiscal Q1 2026 was $1.54 billion compared to $1.11 billion in the prior year period. On a pro forma basis, North America revenue was $1.68 billion compared to $1.58 billion in the prior year, representing 6% growth. The combined company ended the quarter with approximately 6.2 million North America subscribers compared to 6.3 million in the prior year. On a pro forma trailing twelve-month basis, adjusted EBITDA was $77.9 million, and for the quarter, pro forma adjusted EBITDA was $41.4 million, nearly doubling from the prior year's $22 million.

• Focus on growth through differentiated sports offerings, scale distribution partnerships, and improved monetization.
• Plan to evaluate content alignment for the 6 million-plus subscriber base.
• Intend to execute a reverse stock split of common stock by the end of fiscal Q2 2026 to make the stock more accessible to investors.

• Uncertainty with NBCUniversal renewal as Comcast is not reengaging currently, which could impact content availability.
• Dependence on sports rights and content agreements for subscriber retention and growth.
• Market and industry trends that could affect subscriber acquisition and retention.

Q: How does the merger increase investment ability for subscriber growth and impact of Disney YouTube TV blackout?

A: David notes the company's improved profitability and strong balance sheet, allowing more flexibility to invest in growth. John states the impact from YouTube TV going dark with Disney was immaterial to the overall platform.

Q: Advertising ramp period and seasonality of service offerings.

A: John says the ad inventory integration with Disney's ad server should see an impact soon. Patrick Scholl mentions Hulu Live is less seasonal than fuboTV Inc., and the Skinny Sports Service's seasonality is yet to be seen but not expected to have visible incremental seasonality in the near future.