fuboTV Inc. Files Q2 2024 10-Q Report

TL;DR

FuboTV's Q2 24 10-Q is in. Check financials.

AI Summary

FuboTV Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and operational status. Key financial data and business segments are presented, reflecting the company's ongoing operations in the streaming and sports entertainment sector.

Why It Matters

This filing provides investors and analysts with the latest financial and operational data for fuboTV Inc., crucial for understanding the company's performance and future prospects in the competitive streaming market.

Risk Assessment

Risk Level: medium — Quarterly reports can reveal significant financial shifts or operational challenges that impact a company's stock price.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 2024-08-06 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 12-31 — Fiscal Year End (Specifies the end date of the company's fiscal year.)

Key Players & Entities

• fuboTV Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240806 (date) — Filing date of the report
• 1290 AVENUE OF THE AMERICAS (address) — Company's business and mailing address
• FL (state) — State of incorporation

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share FUBO New York Stock Exchange

Filing Documents

• fubo-20240630.htm (10-Q) — 1839KB
• exhibit31x-articlesofamend.htm (EX-3.1 (X)) — 8KB
• exhibit101-2024inducementp.htm (EX-10.1) — 166KB
• exhibit102-rsuagreementsta.htm (EX-10.2) — 101KB
• exhibit103-rsuagreementkey.htm (EX-10.3) — 106KB
• exhibit104-stockoption.htm (EX-10.4) — 102KB
• fubo-20240630xexx311.htm (EX-31.1) — 10KB
• fubo-20240630xexx312.htm (EX-31.2) — 10KB
• fubo-20240630xexx321.htm (EX-32.1) — 7KB
• 0001628280-24-034986.txt ( ) — 9756KB
• fubo-20240630.xsd (EX-101.SCH) — 57KB
• fubo-20240630_cal.xml (EX-101.CAL) — 98KB
• fubo-20240630_def.xml (EX-101.DEF) — 324KB
• fubo-20240630_lab.xml (EX-101.LAB) — 774KB
• fubo-20240630_pre.xml (EX-101.PRE) — 549KB
• fubo-20240630_htm.xml (XML) — 1258KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of June 3 0 , 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended J une 3 0 , 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Changes in Shareholders' Equity for the Three and Six Months Ended June 3 0 , 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 3 0 , 2024 and 2023 (unaudited) 6 Notes to Condensed Consolidated Financial Statements (unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 46 Item 4.

Controls and Procedures

Controls and Procedures 46

- OTHER INFORMATION

PART II - OTHER INFORMATION 47 Item 1.

Legal Proceedings

Legal Proceedings 47 Item 1A.

Risk Factors

Risk Factors 50 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 83 Item 3. Defaults Upon Senior Securities 83 Item 4. Mine Safety Disclosures 83 Item 5. Other Information 83 Item 6. Exhibits 83

Signatures

Signatures 87 i Table of Contents BASIS OF PRESENTATION As used in this Quarterly Report on Form 10-Q ("Quarterly Report"), unless expressly indicated or the context otherwise requires, references to "fuboTV Inc.," "Fubo," "we," "us," "our," "the Company," and similar references refer to fuboTV Inc., a Florida corporation and its consolidated subsidiaries.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements, which are subject to a number of risks, uncertainties, and assumptions, generally relate to future events or our future financial or operating performance. In some cases, you can identify these statements by forward-looking words such as "believe," "may," "will," "estimate," "continue," "anticipate," "design," "intend," "expect," "could," "plan," "potential," "predict," "seek," "should," "would," "target," "project," "contemplate," or the negative version of these words and other comparable terminology that concern our expectations, strategy, plans, intentions, or projections. Forward-looking statements contained in this Quarterly Report include, but are not limited to, statements regarding our future results of operations and financial position, anticipated cash requirements, industry and business trends, stock-based compensation, revenue recognition, business strategy, plans and market growth, legal proceedings, including the potential impact of the launch of the Network JV (as defined herein), and our objectives for future operations, including related to investment in our technologies and data capabilities, subscriber acquisition strategies, impacts of the dissolution of our gaming business, and our international operations. We have based the forward-looking statements contained in this Quarterly Report primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations, prospects, business strategy and financial needs. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including those described in Part II, Item 1A, "Risk Fact

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements fuboTV Inc. Condensed Consolidated Balance Sheets (in thousands, except for share and per share information) June 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 155,189 $ 245,278 Accounts receivable, net 71,843 80,299 Prepaid sports rights 35,228 39,911 Prepaid and other current assets 18,232 20,804 Assets of discontinued operations 459 462 Total current assets 280,951 386,754 Property and equipment, net 5,788 4,835 Restricted cash 6,139 6,142 Intangible assets, net 147,053 158,448 Goodwill 618,955 622,818 Right-of-use assets 33,861 35,825 Other non-current assets 16,101 17,818 Total assets $ 1,108,848 $ 1,232,640 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 37,940 $ 74,311 Accrued expenses and other current liabilities 308,157 320,041 Notes payable 6,664 6,323 Deferred revenue 86,340 90,203 Long-term borrowings - current portion 1,286 1,612 Current portion of lease liabilities 5,452 5,247 Liabilities of discontinued operations 19,125 19,608 Total current liabilities 464,964 517,345 Convertible notes, net 352,738 391,748 Lease liabilities 35,243 38,087 Other long-term liabilities 1,672 1,635 Total liabilities 854,617 948,815 COMMITMENTS AND CONTINGENCIES (Note 13) Shareholders' equity: Common stock par value $ 0.0001 : 1,000,000,000 and 800,000,000 shares authorized at June 30, 2024 and December 31, 2023, respectively ; 329,336,621 and 299,215,160 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 33 30 Additional paid-in capital 2,194,966 2,136,870 Accumulated deficit ( 1,926,824 ) ( 1,845,542 ) Non-controlling interest ( 12,780 ) ( 11,751 ) Accumulated other comprehensive (loss) income ( 1,164 ) 4,218 Total shareholders' equity $ 254,231 $ 283,825 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,108,848 $ 1,232,640 The accompanying notes are an integral part of these unaudited co

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