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Sep 30, 2022
fuboTV Q3 2022 Earnings Report
FuboTV's third quarter was marked by progress against its long-term plan of continued growth with improved profitability.
Key Takeaways
FuboTV posted North American subscription revenue growth of 42% year-over-year and North American ad revenue grew 21% year-over-year. The company closed the quarter with $307.4 million in cash, cash equivalents, restricted cash and short-term investments.
FuboTV remains committed to its goal of driving controlled growth and generating positive free cash flow in 2025.
The company decided to close the Fubo Gaming business and cease operation of its owned-and-operated Fubo Sportsbook in support of its profitability goals.
FuboTV posted North American subscription revenue growth of 42% year-over-year, and North American ad revenue grew 21% year-over-year.
The company achieved a sequential improvement in Operating Cash Flow and year-over-year improvement in Adjusted EBITDA (AEBITDA) Margin.
Forward Guidance
Q4 2022 guidance projects 1,355,000 - 1,375,000 subscribers and revenue of $277.5 - $282.5 million for North America Streaming. ROW Streaming is guiding to Q4 2022 revenue of $5.0 - $6.0 million and total year-end subscribers of 355,000 - 365,000.
Positive Outlook
- North America Streaming Q4 2022 guidance projects 1,355,000 - 1,375,000 subscribers, representing 22% year-over-year growth at the midpoint.
- North America Streaming Q4 2022 guidance projects revenue of $277.5 - $282.5 million, representing 22% year-over-year growth at the midpoint.
- Full-year North America Streaming revenue guidance updated to $949.7 - $954.7 million, representing 50% year-over-year growth at the midpoint.
- ROW Streaming Q4 2022 revenue guidance of $5.0 - $6.0 million.
- ROW Streaming total year-end subscribers guidance of 355,000 - 365,000.
Challenges Ahead
- Actual operating results may differ significantly from guidance due to the current macroeconomic environment.
- Risks related to FuboTV’s access to capital and fundraising prospects to fund its ongoing operations and support its planned growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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