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Dec 31, 2022
fuboTV Q4 2022 Earnings Report
FuboTV reported strong Q4 2022 results, marking an inflection point with over $1 billion in annual revenue and significant advertising growth.
Key Takeaways
FuboTV's Q4 2022 results showed strong performance, surpassing $1 billion in total annual revenue and $100 million in ad sales annual revenue for the first time. The company also achieved its lowest level of quarterly cash usage as a publicly-traded company and positive gross profit.
Fubo posted North American subscription revenue growth of 36% year-over-year.
North American advertising revenue grew 30% year-over-year.
ROW streaming business ended the quarter with 420,000 total paid subscribers and $7.2 million in total revenue.
Achieved a sequential improvement in cash usage and year-over-year improvement in Adjusted EBITDA (AEBITDA) Margin.
Revenue by Segment
Forward Guidance
Fubo provides guidance for Q1 2023 and full year 2023, emphasizing ARPU and unit economic expansion. Q1 2023 subscriber guidance projects 1,140,000-1,160,000 subscribers and revenue of $295-$300 million. Full-year guidance projects revenue of $1,195-$1,225 million and subscribers of 1,510,000-1,530,000.
Positive Outlook
- Q1 2023 subscriber guidance projects 1,140,000-1,160,000 subscribers.
- Q1 2023 revenue guidance projects revenue of $295-$300 million.
- Full-year guidance projects revenue of $1,195-$1,225 million.
- Full-year guidance projects subscribers of 1,510,000-1,530,000.
- Excluding the estimated impact of the 2022 World Cup, forecasting double-digit growth for 2023 of roughly ~10%.
Challenges Ahead
- Q1 has been softer than Q4, when viewed sequentially, on revenue and subscribers.
- Q1 2023 guidance reflects continued emphasis on ARPU and unit economic expansion, alongside the impact of seasonality.
- Q1 2023 reflects the strong benefit from the World Cup in Q4 2022.
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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