Form 8-K

8-K — FuboTV Inc.

Accession: 0001493152-26-021406

Filed: 2026-05-06

Period: 2026-05-06

CIK: 0001484769

SIC: 7812 (SERVICES-MOTION PICTURE & VIDEO TAPE PRODUCTION)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — form8-k.htm (Primary)

EX-99.1 (ex99-1.htm)

EX-99.2 (ex99-2.htm)

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0001484769

2026-05-06

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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)

the Securities Exchange Act of 1934

Date

of report (Date of earliest event reported): May 6, 2026

FuboTV

Inc.

(Exact

name of registrant as specified in its charter)

Delaware

001-39590

26-4330545

(State

or other jurisdiction

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 ☐

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.

May 6, 2026, FuboTV Inc. announced its financial results for the quarter ended March 31, 2026. 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 May 6, 2026.

99.2

Press Release of FuboTV Inc., May 6, 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:

May

6, 2026

By:

/s/

David Gandler

David

Gandler

Chief

Executive Officer

EX-99.1

Filename: ex99-1.htm · Sequence: 2

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.

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.

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.

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.”

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

Fiscal 2026 Highlights

facilitate comparability between periods, the following presents Fubo’s Q2 fiscal 2026 results compared to Fubo’s results

for the corresponding three month period ended March 31, 2025 (“Q2 fiscal 2025”) on an as-reported basis and pro forma basis,

which gives effect to the Company’s business combination with Hulu + Live TV as if it had been completed at the beginning of the

first period presented.

● Revenue

of $1.574 billion, compared to $1.125 billion in Q2 fiscal 2025

○ Up

1% year-over-year compared to Q2 fiscal 2025 Pro Forma Revenue of $1.564 billion

● Total

North America Subscribers of 5.7 million, compared to 5.9 million in Q2 fiscal 2025

● Net

Loss of $6.2 million, compared to a Net Loss of $40.9 million in Q2 fiscal 2025

○ Compared

to Q2 fiscal 2025 Pro Forma Net Income of $120.6 million4

● Adjusted

EBITDA1 of $37.7 million, compared to Pro Forma Adjusted EBITDA1

of $1.4 million in Q2 fiscal 2025

● Cash

Position: Fubo ended the quarter with $244.0 million in cash, cash equivalents and restricted

cash on hand

● Earnings

Per Share (“EPS”) loss of $0.07

ended the quarter with 29,435,597 shares of Class A common stock issued and outstanding and 78,992,518 shares of Class B common stock

(vote only) issued and outstanding.

Summary Financials (millions)

Global

Fiscal Quarter

2Q25

3Q25

4Q25

1Q26

2Q26

Quarter Ending

3/29/2025

6/28/2025

9/27/2025

12/31/2025

3/31/2026

Revenue

$ 1,125.5

$ 1,073.8

$ 1,107.7

$ 1,548.7

$ 1,573.9

Pro Forma Revenue

$ 1,564.3

$ 1,483.8

$ 1,501.7

$ 1,683.1

Net Income (Loss)

$ (40.9 )

$ (38.0 )

$ (38.8 )

$ (19.1 )

$ (6.2 )

Pro Forma Net Income (Loss)

$ 120.6

$ (72.0 )

$ (96.3 )

$ (46.4 )

Pro Forma Adjusted EBITDA / Adjusted EBITDA5

$ 1.4

$ 31.0

$ 4.1

$ 41.4

$ 37.7

North America (NA)

Fiscal Quarter

2Q25

3Q25

4Q25

1Q26

2Q26

Quarter Ending

3/29/2025

6/28/2025

9/27/2025

12/31/2025

3/31/2026

Revenue

$ 1,125.5

$ 1,073.8

$ 1,107.7

$ 1,542.9

$ 1,565.6

Pro Forma Revenue

$ 1,556.0

$ 1,475.1

$ 1,493.2

$ 1,674.5

Total Subscribers

5.9

5.6

6.0

6.2

5.7

4 Q2 fiscal 2025 Pro Forma Net Income was positively impacted

by a $220 million net gain related to the settlement of litigation.

5 Adjusted EBITDA for all periods prior to Q2 fiscal 2026

is presented on a pro forma basis.

Rest of World (ROW)

Fiscal Quarter

2Q25

3Q25

4Q25

1Q26

2Q26

Quarter Ending

3/29/2025

6/28/2025

9/27/2025

12/31/2025

3/31/2026

Revenue

$ -

$ 5.8

$ 8.3

Pro Forma Revenue

$ 8.3

$ 8.6

Total Subscribers

0.354

0.349

0.342

0.335

0.328

Guidance

and Long-Term Financial Targets

● Fiscal

2026 Pro Forma Adjusted EBITDA2 guidance of $80-$100 million

● Fiscal

2028 Adjusted EBITDA2 target of at least $300 million

● Positive

Free Cash Flow2 expected in Fiscal 2027 and Fiscal 2028 under current operating

plan

● Fiscal

2026 ending cash, cash equivalents and restricted cash is expected to be at least $200 million

North

America Advertising

Advertising

revenue was $101.6 million for the quarter, compared to pro forma advertising revenue of $101.6 million in the comparable prior-year

period.

The

ongoing migration of Fubo into the Disney Ad Server has resulted in improved monetization. Additionally, Disney plans to include Fubo

in its annual Upfront with advertisers, which kicks off next week in New York City.

Fubo

Platform Product and Technology Update

Our

recent product and technology efforts have focused on enhancing the core experience and expanding our mobile reach of the Fubo platform.

Core

Experience

continue to prioritize quality, design, and video engineering. Providing best-in-class video ensures sports fans enjoy an immersive experience,

while design consistency modernizes and polishes the broader user journey. In recent months, we completed the following:

● 1080p60

Video: Increased quality for MLB.TV channels.

● Interface

Decluttering: Redesigned mobile and CTV playback controls by moving titles to the top and

increasing scrubber size to reduce visual noise.

● Content

Surfacing: Replaced traditional banners with a new “Featured on Fubo” promo carousel

to promote content more dynamically, a key upgrade ahead of our four exclusive UEFA World

Cup Qualifiers and major combat sports events.

Internally,

we are leveraging AI tools to improve velocity, enhance engineering capabilities, and tighten the collaboration between Product, Design,

and Engineering.

Mobile

Utility and Short-Form Innovation

redesigned and optimized our mobile experience to transition the app from a passive viewing tool into an active utility. This drives

daily engagement through short-form content and personalized alerts. Key features now live include:

● Live

Video in Carousels: Featuring live video immediately upon app launch allows for quicker discovery

and transforms the home screen into a primary destination.

● Advanced

Team Channels: We have enhanced our existing Team Channels (bite-sized game coverage and

news) by offering league-based filters and more key sports moments.

● AI-Driven

Vertical Mode: Leveraging proprietary AI models, the app now automatically zooms into critical

areas of the video to provide a modern, portrait-mode experience.

Content

and Distribution

MLB

Retention

Just

in time for the 2026 season, we executed three major agreements that solidify Fubo as the essential platform for local baseball fans:

● BravesVision:

We reached a multi-year agreement to carry BravesVision across a six-state territory, delivering

over 140 live games and exclusive original programming to “Braves Country.”

● Spectrum

SportsNet LA: We launched our streaming partnership with SportsNet LA, the exclusive home

of the Los Angeles Dodgers, providing subscribers in the SportsNet LA footprint with more

than 140 regular-season games and Emmy Award-winning original content.

● SportsNet

NY (“SNY”): We reached an agreement to carry SNY, a win for fans of the New York

Mets.

This

means that Fubo continues to occupy a leading position in local sports programming with home team coverage across 99% of the country.

Additionally, our Hulu + Live TV service added Marquee Sports Network in the Chicago DMA, offering customers important local content.

Hulu

+ Live TV Español

January, Hulu + Live TV expanded its live television offerings with a dedicated Spanish-language plan featuring a lineup of entertainment,

news and sports programming. The Español plan is priced competitively at $29.99/month and includes access to both the Disney+

and Hulu streaming libraries (with ads). This new offering is designed to give Spanish-speaking audiences more choice, flexibility, and

access to premium programming.

Fubo

Sports Network

continue to expand the reach of our owned-and-operated content. In February, we launched Fubo Sports Network on the Hulu + Live TV service.

This brings our flagship FAST channel and its nearly 500 annual live events to millions of additional viewers, growing our brand presence

and creating higher-yield inventory for our advertising partners.

Conclusion

fiscal 2026 marked a period of rapid innovation as we accelerated our product roadmap and solidified our content position. Through our

product and technology enhancements, we are transforming the viewing experience into an interactive utility for fans. We remain committed

to driving long-term shareholder value as we build the future of live television.

Sincerely,

David

Gandler, co-founder and CEO

Fiscal 2026 Earnings Live Conference Call

Fubo

CEO, David Gandler, and CFO, John Janedis, will host a live conference call today at 10:00 a.m. ET to deliver brief remarks on the quarter

followed by a question-and-answer session. The live webcast will be available on the Events & Presentations page of Fubo’s

Investor Relations website. An archived replay of the webcast will be available on our website shortly after the conclusion of the

call. Participants should join the call at least 10 minutes prior to ensure that they are connected prior to the event.

Information

encourage you to read our full set of financial statements and SEC filings and to sign up for email alerts on the investor relations

section of our website at ir.fubo.tv.

Additional

information is available at www.sec.gov under FuboTV Inc.’s filings, as well as https://ir.fubo.tv.

Fubo

intends to use its website as a disclosure channel and investors are encouraged to refer to it, as well as press releases and SEC filings.

The Company encourages reading the full set of financial statements and related disclosures in its Quarterly Report on Form 10-Q for

the quarterly period ended March 31, 2026 that will be filed with the SEC.

About

FuboTV Inc.

FuboTV Inc. (NYSE: FUBO) is a consumer-first live TV streaming company with the mission of delivering premium sports, news and entertainment

programming through a best-in-class user experience that offers greater choice, flexibility and value. The sixth largest Pay TV company

in the U.S. (UBS estimates) and ranked among Fast Company’s Most Innovative Companies (2026) and the Financial Times’

The Americas’ Fastest-Growing Companies (2026, 2025), FuboTV Inc. owns Hulu + Live TV (entertainment), Fubo (sports) and Molotov

(entertainment and sports), which stream in markets around the globe. FuboTV Inc. is an affiliate of The Walt Disney Company.

Learn

more at https://fubo.tv

Forward-Looking

Statements

This

letter contains forward-looking statements of FuboTV Inc. (the “Company” or “Fubo”) that involve substantial

risks and uncertainties. All statements contained in this letter that do not relate to matters of historical fact are forward-looking

statements within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding our business strategy

and plans, our financial results and our expected future financial results, including our financial outlook and/or guidance and long-term

targets, which include Adjusted EBITDA, Pro Forma Adjusted EBITDA, Free Cash Flow and ending cash, cash equivalents and restricted cash,

our offerings and the benefits of any expanded product offerings and technical innovations, including the use of AI tools and the benefits

therefrom, our partnerships and other arrangements, our sports programming and packaging, distribution and consumer preferences, the

benefits of our business combination with Hulu + Live TV (the “Business Combination”), progression on synergy opportunities

and anticipated related benefits, and benefits of our ad tech migration to Disney and related upcoming presentations. The words “could,”

“will,” “plan,” “intend,” “anticipate,” “approximate,” “expect,”

“potential,” “believe” or the negative of these terms or other similar expressions are intended to identify forward-looking

statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially

from the plans, intentions and expectations disclosed in the forward-looking statements that Fubo makes due to a number of important

factors, including but not limited to the following: our ability to achieve or maintain profitability; risks related to our access to

capital and fundraising prospects to fund our financial operations and support our planned business growth; risks related to the integration

of the Hulu + Live TV business; risks related to our organizational structure following completion of the Business Combination; our revenue

and gross profit are subject to seasonality; our operating results may fluctuate; our ability to effectively manage our growth; risks

related to the Business Combination; the long-term nature of our content commitments; our ability to renew our long-term content contracts

on sufficiently favorable terms; our ability to attract and retain subscribers; risks related to our commercial arrangements with Hulu;

obligations imposed on us through our agreements with certain distribution partners; our ability to license streaming content or other

rights on acceptable terms; the restrictions imposed by content providers on our distribution and marketing of our products and services;

our reliance on third party platforms to operate certain aspects of our business; risks related to the difficulty in measuring key metrics

related to our business; risks related to preparing and forecasting our financial results; risks related to the highly competitive nature

of our industry; risks related to our technology, as well as cybersecurity and data privacy-related risks; risks related to our conversion

to a Delaware corporation and our status as a “controlled company”; risks related to ongoing or future legal proceedings;

and other risks, including the effects of industry, market, economic, political or regulatory conditions, future exchange and interest

rates, and changes in tax and other laws, regulations, rates and policies. Further risks that could cause actual results to differ materially

from those matters expressed in or implied by such forward-looking statements are discussed in our Quarterly Report on Form 10-Q for

the quarterly period ended December 31, 2025 filed with the Securities and Exchange Commission (“SEC”), our Quarterly Report

on Form 10-Q for the quarterly period ended March 31, 2026, to be filed with the SEC, and our other periodic filings with the SEC. We

encourage you to read such risks in detail. The forward-looking statements in this letter represent Fubo’s views as of the date

of this letter. Fubo anticipates that subsequent events and developments will cause its views to change. However, while it may elect

to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. You should,

therefore, not rely on these forward-looking statements as representing Fubo’s views as of any date subsequent to the date of this

letter.

(FuboTV

Inc. As-Reported Financial Statements begin on the following pages)

FuboTV

Inc.

Condensed

Consolidated Statements of Operations and Comprehensive Loss

(in

thousands, except share and per share amounts)

For the Three Months Ended

March 31,

March 29,

2026

2025

Unaudited

Revenues

Subscription

$ 347,015

$ -

Related party

1,121,449

1,122,670

Advertising

101,568

Other

3,835

2,806

Total revenues

1,573,867

1,125,476

Operating expenses

Subscriber related expenses

946,705

511,760

Subscriber related expenses - related party

499,006

610,909

Broadcasting and transmission

9,289

Sales and marketing

58,084

1,988

Technology and development

20,774

General and administrative

13,077

41,733

Depreciation and amortization

36,010

Total operating expenses

1,582,945

1,166,390

Operating loss

(9,078 )

(40,914 )

Other income (expense)

Interest expense, net

(2,814 )

Amortization of debt premium, net

4,702

Other income

1,327

Total other income (expense)

3,215

Loss from before income taxes

(5,863 )

(40,914 )

Income tax provision

(343 )

Net loss

(6,206 )

(40,914 )

Less: Net loss attributable to non-controlling interest

4,105

Net loss attributable to common shareholders

$ (2,101 )

$ (40,914 )

Other comprehensive income (loss)

Foreign currency translation adjustment

(18 )

Comprehensive loss attributable to common shareholders

$ (2,119 )

$ (40,914 )

Net loss per share - basic and diluted

$ (0.07 )

$ -

Weighted average shares outstanding:

Basic and diluted

30,715,279

Stock-based compensation was allocated as follows:

Subscriber related expenses

Sales and marketing

2,338

Technology and development

2,580

General and administrative

5,203

Total stock-based compensation

10,187

FuboTV

Inc.

Condensed

Consolidated Balance Sheets

(in

thousands)

March 31,

September 27,

2026

2025

Unaudited

ASSETS

Current assets

Cash and cash equivalents

$ 237,813

$ -

Accounts receivable, net

87,660

6,655

Accounts receivable, net - related party

521,742

Prepaid and other current assets

55,300

Total current assets

902,515

6,655

Property and equipment, net

5,886

Restricted cash

6,146

Intangible assets, net

402,670

Goodwill

2,614,161

1,296,000

Right-of-use assets

32,995

Other non-current assets

16,345

Total assets

$ 3,980,718

$ 1,302,655

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY

Current liabilities

Accounts payable

$ 48,540

$ -

Accrued expenses and other current liabilities

565,876

370,933

Related party current liabilities

221,796

16,396

Deferred revenue

68,485

Long-term borrowings - current portion

459

Current portion of lease liabilities

2,884

Total current liabilities

908,040

387,329

Convertible notes, net

229,627

Notes payable - related party

145,000

Deferred tax liabilities

1,403

Lease liabilities

30,262

Other long-term liabilities

11,405

Total liabilities

1,325,737

387,329

COMMITMENTS AND CONTINGENCIES (Note 13)

Redeemable non-controlling interest

1,843,003

Shareholders’ equity:

Preferred Stock par value $0.0001: 50,000,000 shares and 0 shares authorized at March 31, 2026 and September 27, 2025, respectively; 0 shares issued and outstanding at March 31, 2026 and September 27, 2025, respectively

Class A Common Stock par value $0.0001: 5,000,000,000 and 0 shares authorized at March 31, 2026 and September 27, 2025, respectively; 29,435,597 and 0 shares issued and outstanding at March 31, 2026 and September 27, 2025, respectively

Class B Common Stock par value $0.0001: 2,000,000,000 and 0 shares authorized at March 31, 2026 and September 27, 2025, respectively; 78,992,518 and 0 shares issued and outstanding at March 31, 2026 and September 27, 2025, respectively

Additional paid-in capital

820,224

915,326

Accumulated deficit

(8,077 )

Accumulated other comprehensive loss

(180 )

Total shareholders’ equity

$ 811,978

$ 915,326

TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY

$ 3,980,718

$ 1,302,655

FuboTV

Inc.

Condensed

Consolidated Statements of Cash Flows

(in

thousands)

For the Six Months Ended

March 31,

March 29,

2026

2025

Unaudited

Cash flows from operating activities

Net loss

$ (25,270 )

$ (79,501 )

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

Depreciation and amortization

60,240

Stock-based compensation

22,882

Amortization of debt premium, net

(7,764 )

Deferred income tax provision

192

Amortization of right-of-use assets

1,306

Changes in operating assets and liabilities of business:

Accounts receivable, net

(525,032 )

740

Prepaid expenses and other assets

(14,320 )

Accounts payable

3,364

Accrued expenses and other liabilities

104,264

(11,282 )

Deferred revenue

(31,090 )

Lease liabilities

(1,155 )

Net cash used in operating activities

(412,383 )

(90,043 )

Cash flows from investing activities

Acquisition of Fubo, net of cash acquired

268,057

Purchases of property and equipment

(599 )

Capitalization of internal use software

(5,745 )

Net cash provided by investing activities

261,713

Cash flows from financing activities

Proceeds from the issuance of common stock

Pre-combination net contributions from Disney

394,499

90,043

Proceeds from note payable - related party

145,000

Repayment of convertible notes

(144,765 )

Proceeds from exercise of stock options

Payment for cancellation of fractional shares

(2 )

Repayments of notes payable and long-term borrowings

(237 )

Net cash provided by financing activities

394,629

90,043

Net increase in cash, cash equivalents and restricted cash

243,959

Cash, cash equivalents and restricted cash at beginning of period

Cash, cash equivalents and restricted cash at end of period

$ 243,959

$ -

Supplemental disclosure of cash flows information:

Interest paid

9,847

Income taxes paid

462

Non-cash financing and investing activities:

Redeemable non-controlling interest

1,843,003

Unpaid property and equipment included accounts payable

278

Basis

of Presentation

October 29, 2025 (the “Closing Date”), FuboTV Inc. (the “Company” or “Fubo”), The Walt Disney Company

(“Disney”) and Hulu, LLC (“Hulu”) consummated the transactions contemplated by the Business Combination Agreement,

dated as of January 6, 2025, by and among Fubo, Disney and Hulu, pursuant to which the parties combined Fubo’s existing business

with Disney’s Hulu + Live TV business (the “Hulu Live Business” and, such transactions, collectively, the “Business

Combination”).

The

Company has accounted for the Business Combination as a reverse acquisition of the Company using the acquisition method of accounting

in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”), with the Hulu Live Business

treated as the accounting acquirer. Accordingly, commencing with the fiscal quarter ended December 31, 2025, the historical combined

carve-out financial statements of the Hulu Live Business are presented as the historical financial statements of the Company. Prior to

the Business Combination, the Hulu Live Business operated as part of Hulu, which is controlled and consolidated by Disney, and, therefore,

its historical financial statements were prepared on a carve-out basis from Disney and Hulu, including allocations of certain corporate

costs, shared services, and assets and liabilities that were not historically operated or financed on a standalone basis. As a result,

the historical results of the Hulu Live Business are not necessarily comparable to the results of the Company following the Business

Combination.

facilitate comparability between periods, we have also included supplemental unaudited pro forma condensed combined financial information,

including Pro Forma Revenue and Pro Forma Net Income (Loss), giving effect to the Business Combination as if it had been consummated

at the beginning of the first period presented. The unaudited pro forma condensed combined financial information has been prepared in

accordance with U.S. GAAP and Article 11 of Regulation S-X. The unaudited pro forma condensed combined financial information is based

on the historical combined carve-out financial statements of the Hulu Live Business and the historical consolidated financial statements

of Fubo, as adjusted to give effect to the Business Combination and related transactions. This information is provided for illustrative

purposes only and is not necessarily indicative of what the actual results of operations and financial position would have been had the

Business Combination and related transactions taken place on the dates indicated, nor are they indicative of the future consolidated

results of operations or financial position of the combined company.

Prior

to the closing of the Business Combination, the Hulu Live Business’s fiscal year ended on the Saturday closest to September 30,

and the Company’s historical fiscal year end was December 31. Effective as of the Closing Date, the Company changed its fiscal

year end to September 30, with its first full fiscal year following the Closing Date to end on September 30, 2026.

Key

Performance Metrics and Non-GAAP Financial Measures

Total

Subscribers

Total

Subscribers represent the total number of subscribers to our live TV streaming services, including Fubo and Hulu + Live TV, who have

completed registration, have activated a payment method (reflecting one paying subscriber per plan), and from whom payment was collected

during the month ending the relevant period. Subscribers participating in free or trial offerings are excluded from this metric. We believe

the number of total paid subscribers is a useful metric for gauging the size of our user base following the business combination with

Hulu + Live TV. For comparative purposes, Total Subscribers for periods ended prior to the Closing Date gives effect to the Business

Combination as if it had been completed at the beginning of such period.

Adjusted

EBITDA and Pro Forma Adjusted EBITDA

Adjusted

EBITDA and Pro Forma Adjusted EBITDA are non-GAAP financial measures defined as Net Income (Loss) and Pro Forma Net income (Loss), respectively,

in each case adjusted for depreciation and amortization, impairment of other assets, stock-based compensation, certain litigation and

transaction expenses, other (income) expense, income tax provision (benefit), and certain corporate allocation expenses. Certain litigation

expenses consist of legal expenses and related fees and costs for specific proceedings that we have determined arise outside of the ordinary

course of business and do not consider representative of our underlying operating performance, based on the several considerations which

we assess regularly, including: (1) the frequency of similar cases that have been brought to date, or are expected to be brought in the

future; (2) matter-specific facts and circumstances, such as the unique nature or complexity of the case and/or remedy(ies) sought, including

the size of any monetary damages sought; (3) the counterparty involved; and (4) the extent to which management considers these amounts

for purposes of operating decision-making and in assessing operating performance. Certain transaction expenses consist of professional

advisor costs related to the business combination with Hulu + Live TV. Certain corporate allocation expenses consist of expenses related

to allocations of Hulu and Disney’s corporate executive functions and other services previously provided by Hulu and Disney to

the Hulu Live Business. As many of these corporate functions are redundant to those already existing at Fubo, Fubo expects to incur limited

additional costs to operate as a combined public company that are not based on the commercial arrangements effective as of the Closing

Date.

Adjusted

EBITDA Margin and Pro Forma Adjusted EBITDA Margin

Adjusted

EBITDA Margin and Pro Forma Adjusted EBITDA Margin are non-GAAP financial measures defined as Adjusted EBITDA divided by Revenue and

Pro Forma Adjusted EBITDA divided by Pro Forma Revenue, respectively.

Free

Cash Flow

Free

Cash Flow is a non-GAAP measure defined as Net cash provided by (used in) operating activities, reduced by capital expenditures (consisting

of purchases of property and equipment), capitalization of internal use software, purchases of intangible assets and gain on settlement

of litigation, net. We believe Free Cash Flow is an important liquidity measure of the cash that is available for operational expenses,

investments in our business, strategic acquisitions, and for certain other activities such as repaying debt obligations and stock repurchases.

Free Cash Flow is a key financial indicator used by management. Free Cash Flow is useful to investors as a liquidity measure because

it measures our ability to generate or use cash. The use of Free Cash Flow as an analytical tool has limitations due to the fact that

it does not represent the residual cash flow available for discretionary expenditures. Because of these limitations, Free Cash Flow should

be considered along with other operating and financial performance measures presented in accordance with GAAP.

Reconciliation

of Key Performance Metrics and Non-GAAP Financial Measures

Certain measures used in this letter, including Adjusted EBITDA, Pro Forma Adjusted EBITDA, Adjusted EBITDA Margin, Pro Forma Adjusted

EBITDA Margin and Free Cash Flow, are non-GAAP financial measures. We believe these are useful financial measures for investors as they

are supplemental measures used by management in evaluating our core operating performance. Our non-GAAP financial measures have limitations

as analytical tools, and you should not consider them in isolation or as a substitute for an analysis of our results under GAAP. There

are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. First, these

non-GAAP financial measures are not a substitute for GAAP financial measures. Second, these non-GAAP financial measures may not provide

information directly comparable to measures provided by other companies in our industry, as those other companies may calculate their

non-GAAP financial measures differently.

The

following tables include reconciliations of the historical non-GAAP financial measures used in this letter to their most directly comparable

GAAP financial measures.

FuboTV

Inc.

Reconciliation

of Net Income (Loss) and Pro Forma Net Income (Loss) to Non-GAAP Adjusted EBITDA and Pro Forma Non-GAAP Adjusted EBITDA

(in

thousands)

Three Months Ended

March 31, 2026

December 31, 2025

September 27, 2025

June 28, 2025

March 29, 2025

As-Reported

Pro Forma

Reconciliation of Net Income (Loss) to Adjusted EBITDA

Net income (loss)

$ (6,206 )

$ (46,388 )

$ (96,253 )

$ (71,970 )

$ 120,576

Depreciation and amortization

36,010

27,367

46,579

46,580

46,570

Stock-based compensation

10,187

18,240

14,068

12,832

3,075

Certain litigation and transaction expenses(1)

628

36,793

7,664

8,271

10,629

Other (income) expense

(3,215 )

(8,808 )

(528 )

(564 )

(220,996 )

Income tax provision (benefit)

343

367

(3,410 )

(63 )

4,433

Certain corporate allocation expenses(2)

13,825

35,936

35,923

37,120

Adjusted EBITDA

37,747

41,396

4,056

31,009

1,407

Adjusted EBITDA

37,747

41,396

4,056

31,009

1,407

Divide:

Revenue

1,573,867

1,683,120

1,501,733

1,483,785

1,564,316

Adjusted EBITDA Margin

2.4 %

2.5 %

0.3 %

2.1 %

0.1 %

(1) Certain

litigation expenses consist of legal expenses and related fees for specific proceedings that

we have determined arise outside of the ordinary course of business and do not consider representative

of our underlying operating performance. For the periods presented, the adjustment included

expenses attributable to antitrust and data privacy litigation. Certain transaction expenses

consist of professional advisor costs related to the business combination with Hulu + Live

TV.

(2) Certain

corporate allocation expenses consist of expenses related to allocations of Hulu and Disney’s

corporate executive functions and other services previously provided by Hulu and Disney to

the Hulu Live Business. As many of these corporate functions are redundant to those already

existing at Fubo, Fubo expects to incur limited additional costs to operate as a combined

public company that are not based on the commercial arrangements effective as of the Closing

Date.

# #

Contacts

Investor

Contacts:

Ameet

Padte, Fubo

ameet@fubo.tv

Media

Contacts:

Jennifer

L. Press, Fubo

jpress@fubo.tv

Bianca

Illion, Fubo

billion@fubo.tv

EX-99.2

Filename: ex99-2.htm · Sequence: 3

Exhibit

99.2

FOR

IMMEDIATE RELEASE

FUBO

CLOSED Q2 FISCAL 2026 WITH RECORD GLOBAL REVENUE, REAFFIRMS FISCAL YEAR 2026 GUIDANCE AND LONG-TERM FINANCIAL TARGETS

Live

TV Streaming Company Advances Cross-Selling Integrations with Disney to Drive Subscriber Growth

NEW

YORK – MAY 6, 2026 – FuboTV Inc. (NYSE: FUBO) today announced its financial results for its second quarter fiscal 2026

ended March 31, 2026.

Fiscal 2026 Highlights1

Global Results

● Revenue

of $1.574 billion, compared to Q2 fiscal 2025 revenue of $1.125 billion. This represents

a 1% year-over-year (“YoY”) increase versus Q2 fiscal 2025 Pro Forma Revenue

of $1.564 billion.

● Total

North America Subscribers of 5.7 million, compared to 5.9 million in Q2 fiscal 2025.

● Net

Loss of $6.2 million, compared to $40.9 million Net Loss in Q2 fiscal 2025 (or Q2 fiscal

2025 Pro Forma Net Income of $120.6 million).2

1 To facilitate comparability between periods, the following

presents Fubo’s Q2 fiscal 2026 results compared to Fubo’s results for the corresponding three month period ended March 31,

2025 (“Q2 fiscal 2025”) on an as-reported basis and pro forma basis, which gives effect to the Company’s business combination

with Hulu + Live TV as if it had been completed at the beginning of the first period presented.

2 Q2 fiscal 2025 Pro Forma Net Income was positively impacted

by a $220 million net gain related to the settlement of litigation.

● Adjusted

EBITDA3 of $37.7 million, compared to Q2 fiscal 2025 Pro Forma Adjusted

EBITDA3 of $1.4 million.

● Cash

Position: Fubo ended the quarter with $244 million in cash, cash equivalents and restricted

cash on hand.

● Earnings

Per Share (“EPS”) Loss of $0.07.

North

America (“NA”) Results

● Revenue

of $1.566 billion, compared to Q2 fiscal 2025 Revenue of $1.125 billion. This represents

a 1% YoY increase versus Q2 fiscal 2025 Pro Forma Revenue of $1.556 billion.

● Total

NA Paid Subscribers of 5.7 million, compared to 5.9 million in Q2 fiscal 2025.

Rest

of World (“ROW”) Results

● Revenue

of $8.3 million, compared to Q2 fiscal 2025 Revenue of $0 million. This is flat versus Q2

fiscal 2025 Pro Forma Revenue of $8.3 million.

● Total

ROW Paid Subscribers of 328,000, compared to 354,000 in Q2 fiscal 2025.

News

Announced Today

Fubo-Disney

Cross-Selling and Product Integrations

Unlocking

the synergies of the Fubo and Hulu + Live TV business combination, Fubo today announced progress towards the following integrated experiences:

● Hulu

Live’s content packages are now available in Fubo’s aggregated eCommerce flow,

giving customers the option to subscribe to the programming plan that’s right for them.

Customers will be able to choose from multiple sports and entertainment streaming options

at different price points (Fubo Sports, Fubo Pro, Hulu + Live TV, Fubo Latino, and Hulu +

Live TV Español) all through the Fubo website.

●

ESPN.com’s “Where to Watch” pages will soon

link directly to Fubo, offering easy click access for sports fans looking to stream their favorite teams and live games.

● The

Fubo Sports service is expected to be available in ESPN’s ecommerce flow in the first

half of 2027, through a previously announced reseller and marketing arrangement to expand

the reach and distribution of the Fubo services. Fubo Sports includes ESPN Unlimited as well

as FOX and CBS programming among other sports networks.

3 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 press release. See

“Basis of Presentation” and “Key Performance Metrics and Non-GAAP Financial Measures” for more information.

Assistant

Fubo

continues to personalize its sports-first streaming experience with the implementation of AI-driven product features. The Company is

developing an AI Assistant that will enable customers to search their DVR’d content for sports on the Fubo platform through casual

conversation (rather than voice commands). The Company plans to initially launch the AI Assistant on Roku, Apple TV and mobile this fall.

Fubo also plans to extend this feature to news and entertainment programming.

Guidance

and Long-Term Financial Targets

● Fubo

is reaffirming its Fiscal 2026 Pro Forma Adjusted EBITDA4 guidance range

of $80 million to $100 million.

● Fubo

is reaffirming its Fiscal 2028 Adjusted EBITDA4 target of at least $300

million.

● Positive

Free Cash Flow4 remains expected in Fiscal 2027 and Fiscal 2028 under

Fubo’s current operating plan.

● Fiscal

2026 ending cash, cash equivalents and restricted cash is expected to be at least $200 million.

Message

from Fubo Co-founder and CEO David Gandler

“Fubo’s

second quarter Fiscal Year 2026 results, including record revenue of $1.6 billion, demonstrate the growing strength and scale of our

business. We are also pleased to reiterate our confidence in our Fiscal 2026 guidance and our Fiscal 2028 Adjusted EBITDA target of at

least $300 million. Looking ahead, we are making progress on multiple new integrations with Disney, leveraging the content portfolios

of Fubo and Hulu + Live TV, which are expected to drive sustained subscriber, revenue and Adjusted EBITDA growth while delivering on

the consumer promise of our business combination.”

Shareholder

Letter

Complete

Q2 fiscal 2026 results are detailed in Fubo’s shareholder letter available on the Company’s Investor Relations

website and included as an exhibit in the Current Report on Form 8-K furnished with the SEC on May 6, 2026.

4 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.”

Live

Webcast

Gandler

and CFO John Janedis will host a live conference call today at 10 a.m. ET to deliver brief remarks on the quarter followed by a question-and-answer

session. The live webcast will be available on the Events & Presentations page of Fubo’s Investor Relations website.

An archived replay of the webcast will be available on our website shortly after the conclusion of the call. Participants should join

the call at least 10 minutes before to ensure that they are connected prior to the event.

About

FuboTV Inc.

FuboTV

Inc. (NYSE: FUBO) is a consumer-first live TV streaming company with the mission of delivering premium sports, news and entertainment