FUBO

EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

May 6, 2026

Fellow Shareholders:

The second quarter of the 2026 fiscal year marked an important milestone as the first full quarter of our combined Fubo and Hulu + Live TV business following the successful close of the transaction. We are excited to share the progress we have made in content portfolio expansion, product depth, and distribution and growth, underlying our strong financial performance in the quarter.

We delivered North America revenue of $1.57 billion and total subscribers of 5.7 million. From a profitability standpoint, we delivered a Net Loss of $6.2 million and Adjusted EBITDA1 of $37.7 million for the quarter, compared to Pro Forma Net Loss of $40.9 million and Pro Forma Adjusted EBITDA1 of $1.4 million in the prior year period, reflecting operating leverage in the business.

These results reinforce our confidence in our recently announced guidance and long-term financial targets, including our Fiscal 2026 Pro Forma Adjusted EBITDA2 outlook of $80 million to $100 million and Adjusted EBITDA2 reaching at least $300 million by Fiscal 2028. We remain on track to deliver positive Free Cash Flow2 in Fiscal 2027, supported by a liquidity position that we expect will fully fund our current operating plan.

At our core, Fubo is committed to delivering the right product for every consumer along the demand curve at compelling price points. Following the business combination, we are making progress on our plans to launch multiple new integrations, leveraging the content portfolios of Fubo and Hulu + Live TV. Our flexible portfolio now spans a range of offerings designed to meet diverse viewer preferences, including Fubo Sports, Fubo Pro, Hulu + Live TV, Fubo Latino, and Hulu + Live TV Español. Now, for the first time, all of these services will be marketed within a single, streamlined experience at fubo.tv/welcome, making it easier for consumers to discover and choose the product that best meets their needs.

1 Adjusted EBITDA and Pro Forma Adjusted EBITDA are non-GAAP financial measures. For a reconciliation of these measures to the most directly comparable U.S. GAAP financial measures, Net Income (Loss) and Pro Forma Net Income (Loss) (prepared in accordance with Article 11 of Regulation S-X), respectively, for historical periods, please refer to the “Reconciliation of Key Performance Metrics and Non-GAAP Financial Measures” section of this letter. See “Basis of Presentation” and “Key Performance Metrics and Non-GAAP Financial Measures” for more information.

2 Free Cash Flow is a non-GAAP financial measure. The Company is not providing a reconciliation of forward-looking Pro Forma Adjusted EBITDA, Adjusted EBITDA or Free Cash Flow to the most directly comparable U.S. GAAP measures, Pro Forma Net income (Loss) (prepared in accordance with Article 11 of Regulation S-X), Net Income (Loss) and net cash provided by (used in) operating activities, respectively, because the Company does not currently have sufficient information to accurately estimate all of the variables and individual adjustments for such reconciliation. As such, the Company cannot estimate on a forward-looking basis without unreasonable effort the impact these variables and individual adjustments will have on its reported results. See also “Basis of Presentation” and “Key Performance Metrics and Non-GAAP Financial Measures.”

1

3

In the near term, we are focused on expanding the reach of Fubo via ESPN.com’s “Where to Watch” pages, which is expected to launch soon. In addition, our previously announced integration of Fubo Sports into the ESPN commerce flow is targeted to launch in the first half of 2027. We believe these initiatives position our product in front of a large and highly engaged audience of sports fans, and we expect they will drive sustained subscriber, revenue and margin growth alongside other synergistic initiatives currently underway.

During the quarter, we also successfully retained essential local sports rights for the MLB season, which maintains the Fubo service’s position as a premier destination for sports fans, and accelerated product and technical innovation to deliver features designed to enhance engagement, improve discovery, and further differentiate the Fubo platform from its competitors.

Our business is performing well, and we believe we are just beginning to realize the full potential of the Fubo and Hulu + Live TV business combination. We are excited about the opportunities ahead and look forward to keeping you updated on our progress.

3 Additional taxes and fees may apply. Prices subject to change. Fubo Sports ($45.99 for the first month, then $55.99 per month); FuboTV Pro ($48.99 for the first month, then $73.99 per month); Fubo Latino ($9.99 per month for the first two months, then $14.99 per month). Current pricing available at fubo.tv/welcome

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Q2 Fiscal 2026 Highlights

To facilitate comparability between periods, the following presents Fubo’s Q2

EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

FUBO

RELEASES ADJUSTED EBITDA OUTLOOK AND LONG-TERM FINANCIAL TARGETS

Co-Founder

& CEO David Gandler Issues Shareholder Letter

NEW YORK – APRIL 6, 2026 – FuboTV Inc. (NYSE: FUBO) today announced Adjusted EBITDA outlook for Fiscal 2026 and 2028 and affirmed its cash forecast.

Guidance and Long-Term Financial Targets

● Fiscal 2026 Pro Forma Adjusted EBITDA1 guidance of $80-$100 million

● Fiscal 2028 Adjusted EBITDA1 target of at least $300 million

● Positive Free Cash Flow1 expected in Fiscal 2027 and Fiscal 2028 under current operating plan

In conjunction with today’s announcement, Fubo Co-Founder and CEO David Gandler issued the below letter to shareholders:

Dear Fellow Shareholders,

FuboTV Inc. is in the strongest financial position in our history based on our current outlook. We expect to deliver between $80 and $100 million in Pro Forma Adjusted EBITDA in Fiscal 2026, and are targeting at least $300 million in Adjusted EBITDA in Fiscal 2028. We also believe we will be Free Cash Flow positive starting Fiscal 2027, if not sooner, and are projecting to end this fiscal year (YE September 2026) with at least $200 million in cash and cash equivalents.

1 Pro Forma Adjusted EBITDA, Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures. For a reconciliation of these measures to the most directly comparable U.S. GAAP financial measures, Pro Forma Net income (Loss) (prepared in accordance with Article 11 of Regulation S-X), Net Income (Loss) from Continuing Operations and net cash provided by (used in) operating activities, respectively, for historical periods, please refer to the “Reconciliation of Key Performance Metrics and Non-GAAP Financial Measures” section of this press release. The Company is not providing a reconciliation of forward-looking Pro Forma Adjusted EBITDA, Adjusted EBITDA or Free Cash Flow to the most directly comparable U.S. GAAP measures because the Company does not currently have sufficient information to accurately estimate all of the variables and individual adjustments for such reconciliation. As such, the Company cannot estimate on a forward-looking basis without unreasonable effort the impact these variables and individual adjustments will have on its reported results. See also “Basis of Presentation” and “Key Performance Metrics and Non-GAAP Financial Measures.”

● Generated Pro Forma Net Loss of $(178) million and Pro Forma Adjusted EBITDA of $59 million in Fiscal 2025.

● Projecting to grow Adjusted EBITDA at a compounded annual growth rate (CAGR) of more than 80% based on the midpoint of our Fiscal 2026 Pro Forma Adjusted EBITDA guidance range ($90 million) and our Fiscal 2028 Adjusted EBITDA target (at least $300 million).

●

Projecting to end this fiscal year (YE September 2026) with at least $200 million in cash and cash equivalents, compared to Fubo pre-combination2 cash and cash equivalents balance of $274 million as of September 30, 2025. Note that over the 2026 fiscal year-to-date we made approximately ~$50 million in payments associated with litigation and transaction-related expenses that are not representative of Fubo’s underlying cash generation.

● Expect Fubo will be Free Cash Flow positive starting Fiscal 2027, and we do not anticipate needing additional outside financing through Fiscal 2028 based on our current operating plan.

● Based on our current operating plan, we have enough cash to fund our business - including debt obligations - and invest in our growth. We expect to be in a net cash position (cash and cash equivalents exceeding all debt) in Fiscal 2028.

● Methodically managed our debt levels while extending our maturities. Today, we have approximately $323 million in debt obligations, with no maturities until 2029. As of March, our 2029 bonds are trading close to par, which we believe reflects credit investor confidence.

Our financial stability, which we do not believe is reflected in our stock price, has continued to improve. Importantly, this is a trajectory that we expect to continue.

I am confident in the future of our business. Our financial position provides us with the flexibility to invest, to compete and to serve our customers at a higher level than at any point in our history.

The Drivers Behind Our Outlook

We believe that our share price has not yet reflected the operational progress we have made nor the intrinsic value of the combined business. I hope today’s updates help to close that gap. Fubo has a track record of disciplined execution. Prior to the combination, we improved Net Loss and Adjusted EBITDA by approximately $100 million annually for three consecutive years.

As we look ahead, we are applying that same disciplined approach to how we balance growth and profitability for the combined company. While subscriber growth remains a key long-term driver of value, we are focused on pursuing that growth in an efficient and profitable manner. In the near term, this means pri

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): February 3, 2026

FUBOTV

INC.

(Exact name of registrant as specified in its charter)

Delaware

001-39590

26-4330545

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS

Employer

Identification Number)

1290 Avenue of the Americas

New York, NY 10104

(Address of principal executive offices) (Zip Code)

(212) 672-0055

(Registrant’s telephone number, including area code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A Common Stock, par value $0.0001 per share

FUBO

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On February 3, 2026, FuboTV Inc. announced its financial results for the quarter ended December 31, 2025 . The full text of the shareholder letter and press release issued in connection with the announcement are attached as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K.

The information in this Item 2.02, including the information contained in Exhibits 99.1 and 99.2 of this Current Report on Form 8-K, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibits relating to Item 2.02 shall be deemed to be furnished, and not filed:

Exhibit No.

Description

99.1

Letter to Shareholders, dated February 3, 2026.

99.2

Press Release of FuboTV Inc., February 3, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FUBOTV

INC.

Date: February 3, 2026 By: /s/ David Gandler

David Gandler

Chief Executive Officer