Fubo beats Q1 NA guidance, raises FY2023 guidance; cash sufficient to reach 2025 profitability

FuboTV Inc.

2023-Q1 EPS reported -$0.37 revenue$324,374,000

NA Q1 revenue $316.5M (+34% YoY) beat midpoint guidance by $19M; subs 1.285M (+22% YoY) beat by 135K.
Net loss from continuing ops -$83.4M (-$0.37 EPS), improved from -$128.4M (-$0.81) YoY; AEBITDA -$58.9M.
FY2023 NA guidance raised to revenue $1,235-1,265M and subs 1,550-1,570K (8% YoY growth at midpoint).
Ended Q1 with $364.8M cash; company expects no further ATM draws and sufficient cash to reach positive cash flow in 2025.
NA ARPU grew 8% YoY to $76.79; ad revenue flat at $22.5M amid ad market pressure; expects acceleration in Q2.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FuboTV Inc. reported the three months ended March 31, 2023 results: revenue $324.4, net income $-83.4, EPS $0.37. Guidance initiated.

Period: the three months ended March 31, 2023
Revenue: $324.4
Net income: $-83.4
EPS: $0.37
Guidance: initiated
Result: reported results

Exact text from the filing

Summary Financials (millions) (GLOBAL) 1Q22 1Q23 1Q23 YoY % Revenue $ 242.3 $ 324.4 +34 % Total Operating Expenses $ 365.3 $ 405.8 +11 % Net Loss $ -128.4 $ -83.4 -35 %

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Source: SEC EDGAR

accession 0001493152-23-015509

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