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Jun 30, 2022
fuboTV Q2 2022 Earnings Report
FuboTV's Q2 2022 earnings demonstrated strong revenue growth, with a focus on achieving profitability and positive free cash flow by 2025.
Key Takeaways
FuboTV reported strong revenue growth in Q2 2022, driven by North American subscription revenue growth of 70% year-over-year and ad revenue growth of 32% year-over-year. The company is focusing on reducing cash burn and improving unit economics, while exploring strategic options for its interactive wagering business.
North American subscription revenue grew 70% year-over-year.
Ad revenue increased by 32% year-over-year.
The company is undergoing a strategic review of its interactive wagering business.
FuboTV is targeting positive free cash flow in 2025.
Revenue by Segment
Forward Guidance
FuboTV provided guidance for Q3 2022 and updated full-year 2022 guidance for North America and ROW streaming, reflecting subscriber and revenue expectations.
Positive Outlook
- Q3 2022 North America subscribers are projected to be 1,135,000 - 1,155,000, representing 22% year-over-year growth at the midpoint.
- Q3 2022 North America revenue is projected to be $200 - $205 million, representing 29% year-over-year growth at the midpoint.
- Full-year North America revenue is guided to $910 - $930 million, representing 45% year-over-year growth at the midpoint.
- Full-year North America subscribers are guided to 1,330,000 - 1,350,000, representing 19% year-over-year growth at the midpoint.
- Full-year ROW subscribers are guided to 340,000 - 360,000.
Challenges Ahead
- Full-year revenue guidance was revised down from $1,020 - $1,030 million to $910 - $930 million.
- Full-year subscriber guidance was revised down from 1,465,000 - 1,475,000 to 1,330,000 - 1,350,000.
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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