FUBO earnings analysis
What we found in FUBO's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
FuboTV Inc. reported a revenue of $1.574 billion for Q1 2026, reflecting a substantial increase of 40% compared to $1.125 billion in Q1 2025. EPS was a loss of $0.07, significantly better than the expected loss of $0.16, reflecting improved operating conditions and effective cost management. The company anticipates reaching profitability soon, bolstered by a rising subscriber base and successful integration of Hulu Live.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Significant Revenue Growth
- Revenue increased by 40% to $1.574 billion compared to $1.125 billion in Q1 2025.
- Improvement in EPS
- Reported EPS of -$0.07 beat expectations of -$0.16, reflecting better profitability.
- Increased Advertising Revenue
- Advertising revenue reached $101.6 million, a new addition to revenue sources compared to zero in Q1 2025.
- Positive Operating Cash Flow
- Operating cash flow improved with a net cash provided of $394.6 million compared to $90.0 million in Q1 2025.
- Control Transfer from Hulu
- Hulu will transition to a more collaborative operational role with Fubo, enhancing future revenue potential.
- Debt Reduction Progress
- Successfully reduced debt through a senior unsecured term note arrangement with Disney valued at $145 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Net Loss Continues
- The company reported a net loss of $6.206 million compared to $40.914 million in Q1 2025, indicative of ongoing financial struggle.
- Reliance on Hulu Partnership
- Future revenue is heavily dependent on Hulu's marketing and strategic decisions, leading to potential vulnerabilities.
- Subscriber Growth Questions
- Total subscribers saw a slight drop from 5.9 million to 5.7 million in North America year-over-year.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.07
- Gross margin
- 7.6%
- Segment
- Fubo Services
- Segment
- Hulu Live Service
What they said about what is next.
Management anticipates achieving positive free cash flow by FY2027 and projecting Pro Forma Adjusted EBITDA for FY2026 of $80-$100 million.
The filing reads better than the one before it.
What came before.
- 10-Q · February 5, 2026
- FuboTV reported total revenue of $1,548,688,000 for the quarter ended December 31, 2025, up $442,696,000 (≈40.0%) versus the prior-year quarter, driven by the Hulu Live wholesale/related-party contribution. Operating…
- 10-K · March 3, 2025
- FuboTV continues to position itself as a leading sports-first streaming platform, capitalizing on the cord-cutting trend by offering a robust live TV service. While revenue shows slight declines in recent quarters,…
- 10-Q · November 1, 2024
- fuboTV reported Q3 revenue of $386.2M (up $65.3M or 20.3% YoY) driven by subscription revenue of $356.6M (+$66.95M YoY). The company narrowed operating loss to $(58.6)M (operating margin -15.2%) and reported basic and…
- 10-Q · August 6, 2024
- FuboTV reported Q2 total revenue of $390,965 (in thousands), up versus $312,735 in Q2 2023, driven by subscription revenue of $362,936 (in thousands). Operating loss narrowed to $(35,675) (in thousands) from $(52,515)…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing FUBO makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever