fuboTV (FUBO) Q1 2026 earnings summary

Executive summary

• Q1 2026 was the first quarter as a combined entity after the Hulu Live acquisition, validating the strategy for greater scale, broader distribution, and improved economics.

• Completed transformative business combination with Hulu + Live TV, resulting in a new ownership and reporting structure as of October 29, 2025.

• Focused on live TV streaming for sports, news, and entertainment, with operations in the US, Canada, France, and Spain.

• Announced reseller and marketing arrangement with ESPN to expand service reach, pending definitive agreements.

Financial highlights

• Q1 FY26 reported revenue was $1.549 billion, up 40% year-over-year; pro forma revenue was $1.683 billion, up 6% year-over-year.

• Gross profit was $112.0 million, with a gross margin of 7.2%, compared to $3.5 million and 0.3% in the prior year.

• Pro forma net loss was $46.4 million, improved from $130.4 million; reported net loss was $19.1 million, improved from $38.6 million.

• Pro forma adjusted EBITDA was $41.4 million, nearly doubling from $22 million year-over-year.

• Cash and equivalents stood at $458.6 million at quarter-end.

Outlook and guidance

• Growth is the primary focus for 2026, with emphasis on subscriber expansion, differentiated sports offerings, and improved monetization.

• No formal guidance or guardrails provided yet as integration and timing of key agreements are still being refined.

• Plans for a reverse stock split at a ratio between 1-for-8 and 1-for-12 to broaden investor base and align share count with company size.

• Management believes current liquidity is sufficient for at least the next twelve months.