Filing Flows › FuboTV (FUBO) › Q1 FY24
FuboTV (FUBO) Q1 FY24 earnings results (first quarter fiscal 2024)
10-K filed Mar 5, 2024
FuboTV (FUBO) reported revenue of $410M for the first quarter fiscal 2024 (Q1 FY24), +28% from a year earlier and +28% from the quarter before. Operating margin was -17.6%, net loss $70.5M (17.2% of revenue).
FuboTV, Q1 FY24: revenue $410M (+28% year over year), operating margin -17.6%, net loss $70.5M, operating cash flow −$2.1M. The chart follows the revenue to costs, profit and cash.
| Q1 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $410M | +28% | +28% |
| Operating profit | −$72.1M | — | — |
| Net earnings | −$70.5M | — | — |
| Operating cash flow | −$2.1M | — | — |
What changed
Revenue was $410.2M in Q1 FY24, up 28% year over year and up 28% from the previous quarter. Subscription was the largest line at 90% of revenue.
Operating costs exceeded revenue by $72.1M, an operating margin of -17.6%. Total costs grew 17% against revenue growth of 28%. The fastest-growing cost line was Sales & marketing (+21%). The quarter ended with a net loss of $70.5M, narrower than the previous quarter's $83.8M loss. Minority interests bore $437K of it: to shareholders the quarter was a loss of $70.1M.
Operating cash flow was −$2.1M. Non-cash charges added back $9.6M of depreciation and amortization and $11.8M of share-based compensation. Working capital and other items added $47.1M. Capital expenditures of $696K exceeded it, leaving free cash flow of −$2.8M.
Questions
What was FuboTV's revenue in the first quarter fiscal 2024?
FuboTV (FUBO) reported revenue of $410M for the first quarter fiscal 2024 (Q1 FY24), +28% from a year earlier and +28% from the quarter before.
Was FuboTV profitable in the first quarter fiscal 2024?
Operating loss was $72.1M (-17.6% of revenue) and net loss $70.5M.
Source: FuboTV 10-K on SEC EDGAR.