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Sep 30, 2024
fuboTV Q3 2024 Earnings Report
Delivered strong results with continued top-line growth and bottom-line improvements.
Key Takeaways
FuboTV reported strong Q3 results with North America revenue growth of 21% and subscriber growth of 9% year-over-year. The company also saw improvement in profitability metrics, including a $29.8 million improvement in Net Loss and a $33.8 million improvement in Adjusted EBITDA.
Achieved North America revenue growth of 21% and subscriber growth of 9% year-over-year.
Improved Net Loss by $29.8 million and Adjusted EBITDA by $33.8 million year-over-year.
Net cash provided by operating activities improved by $27.4 million, and Free Cash Flow improved by $31.3 million year-over-year.
Upfront commitments for the 2024-2025 advertising season are up over 40% compared to the 2023-2024 season.
Revenue by Geographic Location
Forward Guidance
FuboTV's FY 2024 subscriber guidance projects 1,665,000 to 1,705,000 subscribers in North America and 345,000 to 355,000 subscribers for Rest of World. FY 2024 revenue guidance projects $1,580 million to $1,600 million in North America and $33 to $35 million for Rest of World.
Positive Outlook
- FY 2024 subscriber guidance projects 1,665,000 to 1,705,000 subscribers in North America, representing 4% year-over-year growth at the midpoint.
- FY 2024 revenue guidance projects $1,580 million to $1,600 million in North America, representing 19% year-over-year growth at the midpoint.
- 4Q 2024 revenue guidance projects $426 million to $446 million in North America, representing 9% year-over-year growth at the midpoint.
- FY 2024 revenue guidance projects $33 to $35 million for Rest of World, representing 4% year-over-year growth at the midpoint.
- Fubo sees constant disruption in the streaming industry as an opportunity to build a distinctive sports entertainment streaming platform.
Challenges Ahead
- FY 2024 subscriber guidance now projects 345,000 to 355,000 subscribers for Rest of World, representing a 14% year-over-year decline at the midpoint.
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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