Revenue growth has decelerated to 2.8% as of 2026Q1, while gross margins remain compressed at a low of 5.3% due to escalating content licensing fees.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|
| Sales/Revenue | 3.88B | 2.72B | 1.62B | 1.37B | 1.01B | 638.37M | 217.75M | 4.27M | 0 | 41K | 24K | 964.14K | 790.47K | 1.2M | 0 | 0 |
| Revenue Growth % | 137.04% | 67.74% | 18.61% | 35.64% | 58.01% | 193.17% | 4998.24% | - | -100% | 70.83% | -97.51% | 21.97% | -33.96% | - | - | - |
| Cost of Goods Sold | 3.56B | 2.42B | 1.42B | 1.28B | 1.05B | 648.8M | 233.78M | 0 | 8.22M | 8K | 6K | 792.03K | 631.33K | 989.66K | 15.36K | 642 |
| COGS % of Revenue | - | 88.88% | 87.43% | 93.7% | 104.07% | 101.63% | 107.36% | - | - | 19.51% | 25% | 82.15% | 79.87% | 82.68% | - | - |
| Gross Profit | 316.43M | 302.81M | 203.91M | 86.15M | -41.1M | -10.43M | -16.04M | 4.27M | -8.22M | 33K | 18K | 172.11K | 159.14K | 207.16K | -15.36K | 0 |
| Gross Margin % | 8.16% | 11.12% | 12.57% | 6.3% | -4.07% | -1.63% | -7.36% | 100% | - | 80.49% | 75% | 17.85% | 20.13% | 17.31% | - | - |
| Gross Profit Growth % | - | 48.5% | 136.7% | 309.63% | -293.87% | 34.93% | -475.46% | 151.98% | -25000% | 83.33% | -89.54% | 8.15% | -23.18% | 1449.06% | - | - |
| Operating Expenses | 372M | 374.72M | 399.93M | 375.5M | 370.76M | 317.84M | 463.86M | 43.16M | 14.96M | 1.18M | 1.19M | 3.22M | 2.5M | 135.81K | 141.36K | 311.64K |
| OpEx % of Revenue | - | 13.77% | 24.64% | 27.44% | 36.76% | 49.79% | 213.03% | 1010.44% | - | 2870.73% | 4954.17% | 333.77% | 316.27% | 11.35% | - | - |
| Selling, General & Admin | 364.5M | 314.45M | 277.56M | 271.33M | 264.77M | 224.76M | 140.78M | 13.79M | 6.75M | 1.18M | 778K | 2.9M | 2.42M | 135.81K | 141.36K | 311.64K |
| SG&A % of Revenue | - | 11.55% | 17.1% | 19.83% | 26.25% | 35.21% | 64.65% | 322.95% | - | 2870.73% | 3241.67% | 300.68% | 306.73% | 11.35% | - | - |
| Research & Development | 73.13M | 72.5M | 80.01M | 67.67M | 69.26M | 55.42M | 30.19M | 0 | 0 | 0 | 161K | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 2.66% | 4.93% | 4.95% | 6.87% | 8.68% | 13.86% | - | - | - | 670.83% | - | - | - | - | - |
| Other Operating Expenses | -1000K | -12.23M | 42.36M | 36.5M | 36.73M | 37.67M | 292.9M | 29.36M | 8.22M | -8K | 250K | 0 | 75K | 0 | 0 | 0 |
| Operating Income | -55.57M | -71.91M | -196.02M | -289.35M | -411.86M | -328.28M | -479.9M | -38.88M | -14.96M | -1.14M | -1.17M | -3.05M | -2.34M | -429K | -141K | -311.64K |
| Operating Margin % | -1.43% | -2.64% | -12.08% | -21.15% | -40.83% | -51.42% | -220.39% | -910.44% | - | -2790.24% | -4879.17% | -315.93% | -296.03% | -35.84% | - | - |
| Operating Income Growth % | - | 63.31% | 32.25% | 29.74% | -25.46% | 31.59% | -1134.15% | -159.87% | -1207.95% | 2.31% | 61.56% | -30.17% | -445.45% | -204.26% | 54.76% | - |
| EBITDA | 28.58M | -13.71M | -153.49M | -249.73M | -372.05M | -289.66M | -435.25M | -17.92M | -6.75M | -1.14M | -1.17M | -3.05M | -2.34M | -426.38K | -138.54K | -311K |
| EBITDA Margin % | 0.74% | -0.5% | -9.46% | -18.25% | -36.88% | -45.37% | -199.89% | -419.57% | - | -2785.37% | -4870.83% | -315.84% | -295.63% | -35.62% | - | - |
| EBITDA Growth % | 124.85% | 91.07% | 38.54% | 32.88% | -28.44% | 33.45% | -2328.83% | -165.64% | -490.72% | 2.31% | 61.61% | -30.31% | -448.08% | -207.77% | 55.45% | - |
| D&A (Non-Cash Add-back) | 84.15M | 58.21M | 42.54M | 39.62M | 39.81M | 38.62M | 44.65M | 20.96M | 8.22M | 2K | 2K | 859 | 3.14K | 2.62K | 2.46K | 642 |
| EBIT | -42.58M | 158.35M | -156.27M | -277.69M | -410.04M | -326.09M | -590.41M | -41.34M | -12.55M | 11.38M | -9.69M | -6.74M | -2.27M | -429K | -141K | -311.64K |
| Net Interest Income | 204K | -2.64M | -13.7M | -5.32M | -14.17M | -28.38M | -18.64M | -2.06M | 0 | -911K | -168K | -870K | -13.85K | 0 | 0 | 0 |
| Interest Income | 13.57M | 12.65M | 7.16M | 10.97M | 2.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 13.36M | 15.29M | 20.85M | 16.29M | 16.67M | 28.38M | 18.64M | 2.06M | 2.65M | 911K | 168K | 871.68K | 13.85K | 1.27K | 0 | 0 |
| Other Income/Expense | 1.07M | 216.42M | 18.9M | -4.63M | -14.85M | -26.19M | -129.15M | -4.51M | -243K | 11.62M | -8.89M | -4.56M | 63.49K | -294K | 0 | 0 |
| Pretax Income | -54.49M | 144.5M | -177.12M | -293.98M | -426.71M | -354.47M | -609.05M | -43.4M | -15.21M | 10.47M | -9.86M | -7.61M | -2.68M | -430K | -141K | -311.64K |
| Pretax Margin % | -1.4% | 5.31% | -10.91% | -21.49% | -42.3% | -55.53% | -279.71% | -1016.13% | - | 25546.34% | -41091.67% | -789.2% | -338.66% | -35.92% | - | - |
| Income Tax | -2.33M | 1.97M | 659K | -879K | -1.67M | -2.68M | -9.66M | -5.27M | -2.11M | 0 | 194K | 0 | -40.55K | -74 | 0 | 0 |
| Effective Tax Rate % | 4.28% | 1.36% | -0.37% | 0.3% | 0.39% | 0.76% | 1.59% | 12.15% | 13.9% | 0% | -1.97% | 0% | 1.51% | 0.02% | 0% | 0% |
| Net Income | -34.97M | 155.62M | -172.25M | -287.45M | -561.48M | -382.84M | -570.33M | -34.36M | -10.61M | 10.47M | -10.07M | -7.58M | -2.62M | -429K | -141K | -311.64K |
| Net Margin % | -0.9% | 5.72% | -10.61% | -21.01% | -55.66% | -59.97% | -261.93% | -804.5% | - | 25546.34% | -41941.67% | -785.88% | -331.45% | -35.84% | - | - |
| Net Income Growth % | -148.41% | 190.34% | 40.08% | 48.8% | -46.66% | 32.87% | -1559.87% | -223.85% | -201.3% | 204.05% | -32.85% | -189.2% | -510.72% | -204.26% | 54.76% | - |
| Net Income (Continuing) | -52.16M | 142.53M | -177.78M | -293.1M | -425.05M | -351.79M | -599.39M | -38.13M | -13.09M | 10.47M | -9.86M | -7.61M | -2.68M | -430K | -141K | -311.64K |
| Discontinued Operations | 0 | 0 | 1.69M | 5.18M | -136.87M | -31.18M | 0 | 0 | 0 | -11K | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1.84B | 2.38B | -15.59M | -11.75M | -10.01M | -11.22M | -11.09M | 22.6M | 26.74M | 0 | -189K | -155.93K | -86.18K | -29.43K | 0 | 0 |
| EPS (Diluted) | -1.14 | -0.24 | -6.48 | -12.48 | -36.96 | -33.36 | -12.82 | -1.57 | -999999.00 | 0.74 | -8907.96 | -24285.26 | -12334.42 | -999999.00 | -999999.00 | -999999.00 |
| EPS Growth % | -125.17% | 96.3% | 48.08% | 66.23% | -10.79% | -160.22% | -716.56% | 100% | -99999900% | 100.01% | 63.32% | -96.89% | 100% | -200.21% | 54.64% | - |
| EPS (Basic) | - | -0.24 | -6.48 | -12.48 | -36.96 | -33.36 | -12.82 | -1.57 | -999999.00 | 7.12 | -8907.96 | -24285.26 | -12334.42 | -999999.00 | -999999.00 | -999999.00 |
| Diluted Shares Outstanding | 30.72M | 29.09M | 26.64M | 23.02M | 15.21M | 11.46M | 44.49M | 22.29M | 12.88M | 2.17M | 1.13K | 312 | 180 | 103 | 99 | 99 |
| Basic Shares Outstanding | 30.72M | 29.09M | 26.64M | 23.02M | 15.21M | 11.46M | 44.49M | 22.29M | 12.88M | 1.47M | 1.13K | 312 | 180 | 103 | 99 | 99 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Content cost inflation vulnerability
As indicated by the most recent quarterly filings, FUBO's revenue growth has decelerated significantly, dropping from 28.2% in 2023Q4 to a mere 2.8% in 2026Q1, suggesting that the company's initial rapid expansion phase has likely reached a point of market saturation within its core demographic.
The sharp decline in year-over-year growth rates implies that the platform is struggling to acquire new subscribers at a pace that offsets the natural churn inherent in the vMVPD model. Investors should monitor whether this stagnation is a result of increased competition from direct-to-consumer league offerings or a broader consumer pullback on non-essential streaming bundles.
Based on the provided financial data, FUBO's gross margin has fluctuated significantly, reaching a low of 5.3% in 2026Q1, which highlights the company's limited pricing power against content providers who continue to demand escalating licensing fees for essential sports broadcasting rights.
The inability to maintain double-digit gross margins suggests that the company's cost structure is heavily dictated by external media conglomerates rather than internal operational efficiencies. This structural weakness leaves the firm with minimal buffer to absorb content inflation, potentially forcing management to choose between further price hikes or continued margin erosion.
According to reported income statements, FUBO has failed to demonstrate meaningful operating leverage, as SG&A expenses frequently outpace gross profit growth, resulting in persistent operating losses that reached $9.1 million even in the most recent quarter despite significant revenue scale.
The lack of a clear path to positive operating income suggests that the current business model requires high levels of overhead to maintain its specialized sports-centric platform. Without a fundamental shift in the ratio of subscriber-related expenses to total revenue, the company may continue to struggle with achieving sustainable profitability.
As observed in the 2025Q1 financial results, the reported net income of $188.5 million appears to be an outlier driven by non-operating items, which masks the underlying reality of consistent operating losses and recurring negative cash flow across the majority of the analyzed periods.
Investors should exercise caution when evaluating the company's bottom-line performance, as the headline figures are frequently distorted by one-time gains that do not reflect core operational health. The reliance on such anomalies to achieve positive net income warrants further investigation into the sustainability of the company's financial reporting.
Quick answers to the most common questions about buying FUBO stock.
For fiscal year 2025, fuboTV Inc. (FUBO) reported total revenue of $2.72B.
fuboTV Inc. (FUBO) is profitable, generating $155.6M in net income for the fiscal year ending 2025 with a net profit margin of 5.7%.
fuboTV Inc. (FUBO) reported an operating income of $-71.9M, resulting in an operating profit margin of -2.6%. This margin reflects the operational efficiency of the business before interest and taxes.
fuboTV Inc. (FUBO) generated $302.8M in gross profit for the year, representing a gross profit margin of 11.1%. This demonstrates the company's core pricing power and production efficiency.