fuboTV Inc. Q1 FY2026 earnings call

• The company completed the Hulu Live combination in late October. Nearing completion of Stage 1 integration plan, migrating Fubo's ad tech into Disney ad server, expected to uplift CPM and fill rates. Stage 2 focused on consumer, Fubo Sports has strong market traction and working with ESPN to include it in ESPN's commerce flow. Focused on Spanish-speaking audience, delivered record high subscribers on Fubo's Latino product and Hulu Live launched Spanish language bundle. Stage 3 focuses on content cost efficiencies and portfolio discipline as distribution agreements renew.

In North America, reported revenue 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 growth of 6%. The combined company ended the quarter with approximately 6.2 million North America subscribers. Adjusted EBITDA on a trailing 12-month pro forma basis was $77.9 million.

• Currently, no guardrails or specific guidance provided yet. Factors like timing of ESPN partnership and NBC programming renewal impact subs and ad revenue, need more time to refine.

• Comcast ceased renewal discussions with Fubo despite prior alignment, subscriber impact was modest but a risk. Content distribution agreements renewal may face market-based pricing challenges.

Q: David Joyce on Disney shelf filing and guidance.

A: John Janedis said 2-year lockup remains, shelf filing routine, no guardrails yet; David Gandler said reverse split for corporate hygiene and attracting investment