fuboTV Inc. reported third-quarter fiscal 2026 results reflecting its second full quarter as a combined entity with Hulu + Live TV. The company highlighted subscriber gains driven by major live sports events, early improvements in advertising monetization, and an increased full-year adjusted EBITDA outlook. North American subscribers reached 5.75 million, representing a 2% increase year over year, while rest-of-world subscribers rose 2% to 356,000.
Management attributed subscriber growth to programming around the NBA Finals and the 2026 World Cup. The company carried World Cup content in English through Fox and in Spanish through Telemundo and Universo following a renewed NBCUniversal partnership. While management expects some subscriber attrition following the tournament, it characterized World Cup-acquired customers as higher quality, with referrals from ESPN’s “Where to Watch” feature demonstrating strong conversion and retention rates.
Advertising performance showed significant improvement following the migration of inventory to Disney Ad Server, which occurred in June. The company reported double-digit year-over-year gains in CPMs and fill rates on the Fubo platform. June represented the strongest month for advertising growth in at least several years, with CPMs rising year over year across news, sports and entertainment. Management identified advertising as a potential growth driver for the fourth quarter and beyond, with the technical integration tracking ahead of plan.
The company raised its fiscal 2026 pro forma adjusted EBITDA outlook to a range of $90 million to $100 million, while maintaining targets for at least $300 million in adjusted EBITDA in fiscal 2028 and positive free cash flow in fiscal 2027 and 2028. fuboTV ended the quarter with $236.4 million in cash and equivalents and expects to finish the year with more than $200 million in cash. The company plans to maintain Fubo and Hulu + Live TV as distinct products, with management noting they appeal to different customer demographics. Additionally, co-founder and Chief Operating Officer Alberto Horihuela will transition to a senior adviser role toward year-end.
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