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## FuboTV Inc. Reports Strong Financial Results for Q4 and Full Year 2023

**NEW YORK, March 01, 2024**–(BUSINESS WIRE)–FuboTV Inc. (d/b/a/ Fubo) (NYSE: FUBO), the leading sports-first live TV streaming platform, today announced its financial results for the fourth quarter and full year ended December 31, 2023. The Company exceeded guidance across key financial and operating metrics in North America, posting double digit year-over-year (YoY) revenue and subscriber growth during the fourth quarter. Fubo ended the quarter with 1.618 million paid subscribers, up 12% YoY, and $402 million in total revenue, up 29% YoY. Ad revenue in the quarter also increased double digits, closing at $38.6 million, up 15% YoY. Furthermore, ad revenue grew 14% for the full year 2023, totaling $114 million, despite an overall challenged ad market in 2023. Additionally, Fubo achieved an all-time high $86.65 average revenue per user (ARPU), up 15% YoY, and 10% gross margin, representing an 888 basis points (bps) YoY improvement.

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The AI legalese decoder can help simplify and analyze legal jargon in documents such as financial reports. By utilizing cutting-edge artificial intelligence technology, the AI legalese decoder is able to break down complex legal language into easy-to-understand terms. This tool can be particularly useful for investors, analysts, and other stakeholders who need to quickly grasp the key points and implications of legal content.

**Expansion of Rest of World (ROW) Operations**

In the Rest of World (ROW), Fubo delivered impressive results with $8.4 million total revenue, up 18% year-over-year, and 406,000 paid subscribers, down 3% year-over-year, during the quarter. ARPU was $6.81, up 12% YoY. ROW includes the results of Molotov, the French live TV streaming service acquired by Fubo in December 2021. The AI legalese decoder can help stakeholders better understand the implications of these expansion efforts and provide insight into the growth strategies in the ROW market.

**Strong Financial Performance and Ongoing Improvement**

During the quarter, Fubo achieved significant year-over-year improvement in net loss of $25 million and a $19 million improvement in net cash used in operating activities. The Company also saw improvements in Free Cash Flow and Adjusted EBITDA (AEBITDA), with a $15 million and $25 million improvement respectively compared to the fourth quarter of 2022. The AI legalese decoder can assist in analyzing these financial metrics and identifying trends that may impact the company’s future performance.

**Guidance and Future Outlook**

Fubo provided guidance for the first quarter and full year 2024, showcasing continued growth and expansion opportunities in North America and ROW markets. The projections demonstrate the Company’s confidence in achieving its long-term goals and maintaining a strong position in the competitive streaming industry. The AI legalese decoder can help stakeholders interpret and analyze the guidance provided by Fubo, enabling them to make informed decisions on investments and strategic partnerships.

**Live Webcast and Management Insights**

CEO David Gandler and CFO John Janedis will host a live conference call today at 8:30 a.m. ET to discuss the financial results and future outlook of Fubo. The AI legalese decoder can be used to follow along with the call and gain a deeper understanding of the key insights shared by the management team. This tool can enhance the listening experience by providing real-time analysis and interpretation of the discussion.

**About Fubo**

FuboTV Inc. (d/b/a Fubo) (NYSE: FUBO) aims to transcend the industryÔÇÖs current TV model by aggregating the best in TV, including premium sports, news, and entertainment content, through a single app. The company operates Fubo in the U.S., Canada, and Spain and Molotov in France. The AI legalese decoder can help users navigate Fubo’s complex legal and financial disclosures, providing clarity and insight into the company’s operations and strategies.

**Key Performance Metrics and Non-GAAP Measures**

Fubo utilizes key performance metrics such as paid subscribers and ARPU to gauge the size of its user base and revenue generation. The AI legalese decoder can assist users in understanding these metrics and their implications on Fubo’s financial performance. By providing detailed explanations and analysis, this tool can enhance stakeholders’ understanding of Fubo’s operational and financial performance, ultimately driving informed decision-making.

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