Fubo and ESPN announced plans to establish a resale and marketing agreement aimed at expanding the reach and distribution of Fubo’s services.
FuboTV reported its financial results for the first quarter of fiscal year 2026, ended December 31, 2025, highlighting strong revenue growth following the completion of its business combination with Hulu + Live TV, owned by The Walt Disney Company.
The company reported North America revenue of $1.543 billion, compared with $1.106 billion in the same period last year. On a pro forma basis, which reflects the impact of the Hulu + Live TV integration as if it had been completed at the beginning of the comparable period, North America revenue reached $1.675 billion, compared with $1.579 billion a year earlier.
At the same time, Fubo and ESPN announced plans to enter into a resale and marketing agreement to expand the reach and distribution of Fubo’s services.
Under the agreement, Fubo Sports — which already includes ESPN Unlimited, along with content from FOX and CBS — will be available for purchase within ESPN’s commercial ecosystem. In addition, ESPN will promote Fubo’s services across various digital platforms. The agreement remains subject to negotiation of definitive contracts.
“2025 marked a transformational year for Fubo as we completed a historic business combination with Hulu + Live TV,” said David Gandler, Co-Founder and CEO of Fubo. “Our goal is to enhance consumer choice and expand programming flexibility by leveraging the combined strengths of both platforms. We remain focused on delivering value and options across both Fubo and Hulu + Live TV.”
Key Financial Highlights
Globally, Fubo reported revenue of $1.549 billion, representing year-over-year growth of 40%. On a pro forma basis, revenue reached $1.683 billion, an increase of 6% compared with the prior year.
Net loss was $19.1 million, compared with a loss of $38.6 million in the same quarter last year. On a pro forma basis, net loss was $46.4 million, compared with $130.4 million a year earlier.
Pro forma adjusted EBITDA was positive at $41.4 million, exceeding the $22 million reported in the same period last year. The company ended the quarter with a cash position of $458.6 million, including cash, cash equivalents, and restricted cash. Loss per share (EPS) was $0.02.
In North America, Fubo ended the quarter with 6.2 million subscribers, slightly down from 6.3 million a year earlier. Outside North America, the company reported revenue of $5.8 million and a total of 335,000 subscribers, compared with 362,000 in the same period last year.
Over the last twelve months, Fubo achieved reported revenue of $4.9 billion and pro forma revenue of $6.2 billion. Pro forma net loss for the period was $94 million, while pro forma adjusted EBITDA totaled $77.9 million.
Reverse Stock Split Announcement
The company also announced it will conduct a reverse stock split of its Class A and Class B common shares at a ratio between one-for-eight and one-for-twelve, to be determined by its board of directors. The action has already been approved by the board and by shareholders representing a majority of the voting power.
The objective of this decision is to make the stock more accessible to a broader base of investors and to align the number of shares outstanding with the company’s current size and scale. Fubo plans to file the corresponding information statement with the SEC and expects the shares to begin trading on a split-adjusted basis during the current quarter.
Full results for the first quarter of fiscal year 2026 are available in the shareholder letter published on the company’s Investor Relations website and in the Form 8-K filed with the SEC on February 3, 2026.
Finally, David Gandler and CFO John Janedis will host an investor conference call to discuss the quarterly results, followed by a question-and-answer session, which will be available live and on demand via Fubo’s website.
