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Mar 31, 2022
fuboTV Q1 2022 Earnings Report
fuboTV experienced growth in subscribers and revenue, with North American subscriber growth of 81% year-over-year and ad revenue growth of 81% year-over-year.
Key Takeaways
fuboTV achieved strong growth in subscribers and revenue, with North American subscriber growth of 81% year-over-year. The company strengthened its balance sheet, ending the quarter with $456.0 million in cash and is targeting positive cash flow and Adjusted EBITDA in 2025.
North American subscribers increased 81% year-over-year to 1,056,245.
Total revenue increased 98% year-over-year to $236.7 million in North America.
Advertising revenue increased 81% year-over-year to $22.8 million in North America.
Ended the quarter with $456 million in cash.
Revenue by Segment
Forward Guidance
For Q2 2022, fuboTV projects 965,000-975,000 subscribers and revenue of $220-$225 million for North America Streaming. For the full year, the company is updating its previous guidance, including revenue of $1,020-$1,030 million and total year-end subscribers of 1,465,000-1,485,000. For ROW Streaming, fuboTV is guiding to Q2 2022 revenue of $5-$6 million and subscribers of 300,000-310,000. On a full-year basis, the company is increasing its previous guidance to projected revenue of $20-$25 million and total year-end subscribers of 300,000-310,000.
Positive Outlook
- Confident in long-term trajectory of driving growth
- Advancing towards goal of turning cash flow and AEBITDA positive in 2025
- Expect to see operating leverage and AEBITDA margin expansion going forward
- Strategies to drive operating leverage in the business
- Expand unit economics through disciplined growth plan
Challenges Ahead
- Q2 2022 guidance projects a sequential decline
- This guidance does not include any projected revenues from online sports wagering
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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