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Dec 31, 2023
fuboTV Q4 2023 Earnings Report
FuboTV exceeded guidance across key financial and operational metrics, demonstrating growth in subscribers and revenue, and improvements in profitability.
Key Takeaways
FuboTV's Q4 2023 results showed a 12% year-over-year growth in subscribers and a 29% year-over-year revenue growth in North America. The company also saw improvements in profitability and cash usage.
Fubo posted 12% year-over-year growth in subscribers.
Revenue increased 29% year-over-year in North America.
Average revenue per user reached an all-time high of $86.65.
Free cash flow improved by $15 million compared to Q4 2022.
Revenue by Segment
Forward Guidance
Fubo projects subscriber and revenue growth for FY 2024, with a focus on profitability and strategic investments.
Positive Outlook
- FY 2024 subscriber guidance projects 1,665,000 to 1,685,000 subscribers, representing 4% year-over-year growth at the midpoint.
- FY 2024 revenue guidance projects $1,505 to $1,525 million, representing 13% year-over-year growth at the midpoint.
- Q1 2024 subscriber guidance projects 1,415,000 to 1,435,000 subscribers, representing 11% year-over-year growth at the midpoint.
- Q1 2024 revenue guidance projects $365 to $375 million, representing 17% year-over-year growth at the midpoint.
- The company believes that its balance sheet, which includes $251 million in cash, cash equivalents and restricted cash, provides it with liquidity to both continue to strategically support the business and reach positive cash flow in 2025.
Challenges Ahead
- FY 2024 subscriber guidance projects 390,000 to 410,000 subscribers for Rest of World, representing a -2% year-over-year decline at the midpoint.
- FY 2024 revenue guidance projects $31 to $35 million for Rest of World, representing 2% year-over-year growth at the midpoint.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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