FuboTV Inc. Provides Business Update and Financial Outlook

FuboTV Inc. has issued a press release and shareholder letter detailing its business and financial outlook. The company projects Pro Forma Adjusted EBITDA between $80-$100 million for Fiscal Year 2026 and anticipates reaching at least $300 million in Adjusted EBITDA by Fiscal Year 2028. FuboTV expects to achieve positive Free Cash Flow starting in Fiscal Year 2027 and projects ending Fiscal Year 2026 with at least $200 million in cash and cash equivalents. The company also addressed its recent reverse stock split, stating it is a strategic move to improve market perception and attract institutional investors, and not an indicator of plans for dilutive equity offerings. FuboTV is focusing on margin expansion and sustainable cash flow, which may lead to periods of flat or modestly declining subscriber levels in the near term. The company highlighted contractual drivers, including escalating wholesale fees from its agreement with Hulu, and potential for lower content costs as a basis for its financial projections. FuboTV also confirmed its content strategy, including its relationship with NBCUniversal through Hulu + Live TV, and initiatives to optimize its services and unit economics.