FUBOTV INC., 10-Q filed on 8/5/2026
Quarterly Report
v3.26.1
Cover - shares
 9 Months Ended
Jun. 30, 2026
Jul. 31, 2026
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2026  
Document Transition Report false  
Entity File Number 001-39590  
Entity Registrant Name FuboTV Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 26-4330545  
Entity Address, Address Line One 1290 Avenue of the Americas  
Entity Address, City or Town New York  
Entity Address, State or Province NY  
Entity Address, Postal Zip Code 10104  
City Area Code 212  
Local Phone Number 672-0055  
Title of 12(b) Security Class A Common Stock, par value $0.0001 per share  
Trading Symbol FUBO  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001484769  
Current Fiscal Year End Date --09-30  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Common Class A    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   30,204,277
Common Class B    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   78,992,518
v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Sep. 27, 2025
Current assets    
Cash and cash equivalents $ 230,283 $ 0
Prepaid and other current assets 50,381 0
Total current assets 891,575 6,655
Property and equipment, net 5,718 0
Restricted cash 6,145 0
Intangible assets, net 369,136 0
Goodwill 2,614,248 1,296,000
Right-of-use assets 32,204 0
Other non-current assets 18,060 0
Total assets 3,937,086 1,302,655
Current liabilities    
Accounts payable 37,772 0
Deferred revenue 71,314 0
Long-term borrowings - current portion 342 0
Current portion of lease liabilities 2,989 0
Total current liabilities 887,546 387,329
Convertible notes, net 224,953 0
Deferred tax liabilities 1,732 0
Lease liabilities 29,456 0
Other long-term liabilities 9,530 0
Total liabilities 1,298,217 387,329
COMMITMENTS AND CONTINGENCIES (Note 13)
Redeemable non-controlling interest 1,825,516 0
Shareholders’ equity:    
Preferred Stock par value $0.0001: 50,000,000 shares and 0 shares authorized at June 30, 2026 and September 27, 2025, respectively; 0 shares issued and outstanding at June 30, 2026 and September 27, 2025, respectively 0 0
Additional paid-in capital 829,743 915,326
Accumulated deficit (16,301) 0
Accumulated other comprehensive loss (100) 0
Total shareholders’ equity 813,353 915,326
TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY 3,937,086 1,302,655
Common Class A    
Shareholders’ equity:    
Common stock, value 3 0
Common Class B    
Shareholders’ equity:    
Common stock, value 8 0
Nonrelated Party    
Current assets    
Accounts receivable, net 109,609 6,655
Current liabilities    
Accrued expenses and other current liabilities 530,869 370,933
Related party    
Current assets    
Accounts receivable, net 501,302 0
Current liabilities    
Related party current liabilities 244,260 16,396
Notes payable - related party $ 145,000 $ 0
v3.26.1
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Jun. 30, 2026
Sep. 27, 2025
Preferred stock, par or stated value (in usd per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 50,000,000 0
Preferred stock, shares, issued (in shares) 0 0
Preferred stock, shares, outstanding (in shares) 0 0
Common Class A    
Common stock, par or stated value (in usd per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 5,000,000,000 0
Common stock, shares, issued (in shares) 29,484,803 0
Common stock, shares, outstanding (in shares) 29,484,803 0
Common Class B    
Common stock, par or stated value (in usd per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,000,000,000 0
Common stock, shares, issued (in shares) 78,992,518 0
Common stock, shares, outstanding (in shares) 78,992,518 0
v3.26.1
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Revenues        
Total revenues $ 1,481,714 $ 1,073,795 $ 4,604,269 $ 3,305,263
Operating expenses        
Broadcasting and transmission 9,141 0 27,293 0
Sales and marketing 59,245 1,184 176,579 5,408
Technology and development 20,900 0 55,291 0
General and administrative 18,111 39,629 66,479 121,243
Depreciation and amortization 36,227 0 96,467 0
Total operating expenses 1,508,311 1,111,814 4,660,287 3,422,783
Operating loss (26,597) (38,019) (56,018) (117,520)
Other income (expense)        
Interest expense, net (2,988) 0 (7,245) 0
Amortization of debt premium, net 4,674 0 12,438 0
Other income (expense) (72) 0 1,282 0
Total other income (expense) 1,614 0 6,475 0
Loss before income taxes (24,983) (38,019) (49,543) (117,520)
Income tax provision (728) 0 (1,438) 0
Net loss (25,711) (38,019) (50,981) (117,520)
Less: net loss attributable to non-controlling interest 17,487 0 34,680 0
Net loss attributable to common shareholders (8,224) (38,019) (16,301) (117,520)
Other comprehensive loss        
Foreign currency translation adjustment 80 0 (100) 0
Comprehensive loss attributable to common shareholders $ (8,144) $ (38,019) $ (16,401) $ (117,520)
Earnings Per Share [Abstract]        
Net loss per share - basic (in usd per share) $ (0.25) $ 0 $ (0.52) $ 0
Net loss per share - diluted (in usd per share) $ (0.25) $ 0 $ (0.52) $ 0
Weighted average shares outstanding:        
Basic (in shares) 32,758,090 0 31,055,542 0
Diluted (in shares) 32,758,090 0 31,055,542 0
Nonrelated Party        
Operating expenses        
Subscriber related expenses $ 816,867 $ 496,221 $ 2,717,088 $ 1,492,313
Related party        
Revenues        
Total revenues 1,067,851 1,071,001 3,349,734 3,296,132
Operating expenses        
Subscriber related expenses 547,820 574,780 1,521,090 1,803,819
Subscription | Nonrelated Party        
Revenues        
Total revenues 300,403 0 939,651 0
Advertising | Nonrelated Party        
Revenues        
Total revenues 108,944 0 302,035 0
Other | Nonrelated Party        
Revenues        
Total revenues $ 4,516 $ 2,794 $ 12,849 $ 9,131
v3.26.1
Condensed Consolidated Statements of Changes in Redeemable Non-controlling interest and Shareholders’ Equity - USD ($)
$ in Thousands
Total
Common Class A
Common Class B
Redeemable non-controlling interest
Common Stock
Common Class A
Common Stock
Common Class B
Additional Paid-In Capital
Accumulated Deficit
Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Sep. 28, 2024         0 0      
Beginning balance at Sep. 28, 2024 $ 905,252       $ 0 $ 0 $ 905,252 $ 0 $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Pre-combination net contributions from Disney 42,594           42,594    
Net loss attributable to common shareholders (38,587)             (38,587)  
Ending balance (in shares) at Dec. 28, 2024         0 0      
Ending balance at Dec. 28, 2024 909,259       $ 0 $ 0 947,846 (38,587) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Pre-combination net contributions from Disney 47,449           47,449    
Net loss attributable to common shareholders (40,914)             (40,914)  
Ending balance (in shares) at Mar. 29, 2025         0 0      
Ending balance at Mar. 29, 2025 915,794       $ 0 $ 0 995,295 (79,501) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Pre-combination net contributions from Disney 37,660           37,660    
Net loss attributable to common shareholders (38,019)             (38,019)  
Ending balance (in shares) at Jun. 28, 2025         0 0      
Ending balance at Jun. 28, 2025 915,435       $ 0 $ 0 1,032,955 (117,520) 0
Beginning balance at Sep. 27, 2025       $ 0          
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Recognition of redeemable non-controlling interest       2,388,639          
Net loss attributable to non-controlling interest       (13,088)          
Ending balance at Dec. 31, 2025       2,375,551          
Beginning balance (in shares) at Sep. 27, 2025   0 0   0 0      
Beginning balance at Sep. 27, 2025 915,326       $ 0 $ 0 915,326 0 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Pre-combination net contributions from Disney 394,499           394,499    
Effects of reorganization and business combination (in shares)         28,560,344 78,992,518      
Effects of reorganization and business combination 1,347,728       $ 3 $ 8 1,347,717    
Recognition of redeemable non-controlling interest (2,388,639)           (2,388,639)    
Exercise of stock options (in shares)         2,334        
Exercise of stock options 36           36    
Delivery of common stock underlying restricted stock units (in shares)         764,071        
Stock-based compensation 12,674           12,674    
Foreign currency translation adjustment (162)               (162)
Net loss attributable to common shareholders (5,976)             (5,976)  
Ending balance (in shares) at Dec. 31, 2025         29,326,749 78,992,518      
Ending balance at Dec. 31, 2025 275,486       $ 3 $ 8 281,613 (5,976) (162)
Beginning balance at Sep. 27, 2025       0          
Ending balance at Jun. 30, 2026       1,825,516          
Beginning balance (in shares) at Sep. 27, 2025   0 0   0 0      
Beginning balance at Sep. 27, 2025 $ 915,326       $ 0 $ 0 915,326 0 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Exercise of stock options (in shares) 13,719                
Ending balance (in shares) at Jun. 30, 2026   29,484,803 78,992,518   29,484,803 78,992,518      
Ending balance at Jun. 30, 2026 $ 813,353       $ 3 $ 8 829,743 (16,301) (100)
Beginning balance at Dec. 31, 2025       2,375,551          
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Remeasurement of redeemable non-controlling interest 528,443     (528,443)     528,443    
Net loss attributable to non-controlling interest       (4,105)          
Ending balance at Mar. 31, 2026       1,843,003          
Beginning balance (in shares) at Dec. 31, 2025         29,326,749 78,992,518      
Beginning balance at Dec. 31, 2025 275,486       $ 3 $ 8 281,613 (5,976) (162)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Remeasurement of redeemable non-controlling interest 528,443     (528,443)     528,443    
Exercise of stock options (in shares)         629        
Exercise of stock options 3           3    
Delivery of common stock underlying restricted stock units (in shares)         108,384        
Cash in lieu payment on fractional shares under reverse stock split (in shares)         (165)        
Cash in lieu payment on fractional shares under reverse stock split (2)           (2)    
Stock-based compensation 10,167           10,167    
Foreign currency translation adjustment (18)               (18)
Net loss attributable to common shareholders (2,101)             (2,101)  
Ending balance (in shares) at Mar. 31, 2026         29,435,597 78,992,518      
Ending balance at Mar. 31, 2026 811,978       $ 3 $ 8 820,224 (8,077) (180)
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Net loss attributable to non-controlling interest       (17,487)          
Ending balance at Jun. 30, 2026       $ 1,825,516          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Exercise of stock options (in shares)         10,756        
Exercise of stock options 63           63    
Delivery of common stock underlying restricted stock units (in shares)         38,450        
Stock-based compensation 9,456           9,456    
Foreign currency translation adjustment 80               80
Net loss attributable to common shareholders (8,224)             (8,224)  
Ending balance (in shares) at Jun. 30, 2026   29,484,803 78,992,518   29,484,803 78,992,518      
Ending balance at Jun. 30, 2026 $ 813,353       $ 3 $ 8 $ 829,743 $ (16,301) $ (100)
v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Jun. 30, 2026
Jun. 28, 2025
Cash flows from operating activities    
Net loss $ (50,981) $ (117,520)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 96,467 0
Stock-based compensation 32,359 0
Amortization of debt premium, net (12,438) 0
Deferred income tax provision 521 0
Amortization of right-of-use assets 2,097 0
Changes in operating assets and liabilities of business:    
Accounts receivable, net (526,541) (112)
Prepaid and other assets (11,137) 0
Accounts payable (7,162) 0
Accrued expenses and other liabilities 89,839 (10,071)
Deferred revenue (28,261) 0
Lease liabilities (1,856) 0
Net cash used in operating activities (417,093) (127,703)
Cash flows from investing activities    
Acquisition of Fubo, net of cash acquired 268,057 0
Purchases of property and equipment (1,066) 0
Capitalization of internal use software (8,045) 0
Net cash provided by investing activities 258,946 0
Cash flows from financing activities    
Proceeds from the issuance of common stock 95 0
Pre-combination net contributions from Disney 394,499 127,703
Proceeds from note payable - related party 145,000
Repayment of convertible notes (144,765) 0
Proceeds from exercise of stock options 102 0
Payment for cancellation of fractional shares (2) 0
Repayments of notes payable and long-term borrowings (354) 0
Net cash provided by financing activities 394,575 127,703
Net increase in cash, cash equivalents and restricted cash 236,428 0
Cash, cash equivalents and restricted cash at beginning of period 0 0
Cash, cash equivalents and restricted cash at end of period 236,428  
Supplemental disclosure of cash flows information:    
Interest paid 11,394 0
Income taxes paid 464 0
Non-cash financing and investing activities:    
Redeemable non-controlling interest 1,825,516 0
Unpaid property and equipment included in accounts payable $ 36 $ 0
v3.26.1
Organization and Nature of Business
 9 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Nature of Business Organization and Nature of Business
Organization
FuboTV Inc. (the “Company”) was incorporated under the laws of the State of Florida in February 2009. In connection with the consummation of the Business Combination (defined below), the Company effected a conversion (the “Conversion”) from a Florida corporation to a Delaware corporation on October 29, 2025, and changed its name from fuboTV Inc. to FuboTV Inc. As part of the Conversion, all of the Company’s issued and outstanding shares of common stock were automatically converted into issued and outstanding shares of Class A Common Stock, par value $0.0001 per share, and the Company created a new class of vote-only shares of Class B Common Stock, par value $0.0001 per share. The Company’s Class A Common Stock is listed on the New York Stock Exchange ("NYSE") under the trading symbol “FUBO.”
Unless expressly indicated or the context otherwise requires, references to “FuboTV Inc.,” “Fubo,” “we,” “us,” “our,” “the Company,” and similar references refer (i) prior to the consummation of the Conversion and Business Combination, to fuboTV Inc., a Florida corporation, and its consolidated subsidiaries, and (ii) after the consummation of the Conversion and Business Combination, to FuboTV Inc., a Delaware corporation, and its consolidated subsidiaries.
Nature of Business
The Company is principally focused on offering consumers live TV streaming services for sports, news, and entertainment programming. The Company’s revenues are almost entirely derived from the sale of subscription services for its Fubo-branded offerings (collectively, the "Fubo Services"), a wholesale fee arrangement under a commercial services agreement with Hulu, LLC ("Hulu") relating to the Hulu Live Service (defined below), and the sale of advertisements in the United States on the Fubo Services and Hulu Live Service. The Company also has operations in several international markets, including Canada, France and Spain.
Business Combination
On October 29, 2025 (the “Closing Date”), the Company completed the transactions contemplated by the Business Combination Agreement, dated as of January 6, 2025 (the “Business Combination Agreement”), by and among the Company, The Walt Disney Company (“Disney”) and Hulu, pursuant to which the parties combined the existing Fubo business with the Hulu Live Business (as defined below) (such transactions, collectively, the "Business Combination").
Pursuant to the Business Combination Agreement, on the Closing Date, (i) Hulu (x) contributed certain assets (the “HL Business Assets”) related to the business of negotiating and administering carriage agreements and similar contracts relating to and for the purpose of the retransmission, distribution, carriage, display or broadcast of any programming service, channel or network on the Hulu Live Service (as defined below) (the “Hulu Live Business”) to Hulu Live LLC (“Hulu Live”), (y) caused Hulu Live to assume only the HL Business Liabilities (as defined in the Business Combination Agreement) and (z) contributed the Hulu Live Business and the HL Business Assets to a newly formed entity, Fubo Operations LLC (“Newco”), by transferring all of its right, title and interest in, to and under 100% of the equity interests of Hulu Live to Newco, (ii) the Company underwent an umbrella partnership C corporation (“up-C”) reorganization and contributed 100% of the equity interests in a newly formed, wholly-owned subsidiary, Fubo Services LLC, to which the Company had previously contributed the Company’s business prior to the Closing Date, to Newco in exchange for units in Newco (“Newco Units”), resulting in Hulu holding a number of Newco Units representing, in the aggregate, a 70% economic interest (calculated on a fully-diluted basis) in Newco and the Company holding a number of Newco Units representing, in the aggregate, a 30% economic interest (calculated on a fully-diluted basis) in Newco, and (iii) the Company issued to Hulu shares of the Company’s Class B Common Stock representing, in the aggregate, a 70% voting interest in the Company (calculated on a fully-diluted basis). The HL Business Assets include certain carriage agreements, rights under joint subscription agreements and related data and information about its subscribers, advertising or sponsorship agreements exclusively related to Hulu’s linear multi-channel subscription video programming distribution service component of the offering known as “Hulu + Live TV” (such service, the “Hulu Live Service”), all other assets (including intellectual property) exclusively related to the Hulu Live Service and all intellectual property constituting the “Live TV” brand.
On the Closing Date, the Company and Hulu, as the members of Newco, adopted an amended and restated limited liability company agreement of Newco, pursuant to which Fubo became the sole managing member of Newco. In addition, the Company entered into certain commercial agreements with Hulu, including a brand licensing agreement and commercial services agreement (the "Commercial Agreement"), pursuant to which, among other things, (i) the Company granted to Hulu the right, license and obligation to distribute the Hulu Live Service via the Hulu platform on a wholesale basis, pursuant to which, during the term of the Commercial Agreement, Hulu pays the Company a wholesale fee initially equal to 95% of the Hulu Live Business’s carriage fee expenses in calendar years 2025 and 2026, escalating to 97.5% in calendar year 2027 and 99% in calendar year 2028 and thereafter, and (ii) certain affiliates of Disney agreed to sell ads on behalf of the Company for the Fubo Services and the Hulu Live Service in exchange for a portion of ad sale revenue. The Commercial Agreement provides for an initial term of five years, renewable for an additional five-year term by mutual agreement.
v3.26.1
Summary of Significant Accounting Policies
 9 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Principles of Consolidation and Basis of Presentation
The Company’s consolidated financial statements include the accounts of the Company and the accounts of the Company’s wholly-owned subsidiaries and its non-wholly owned subsidiaries where the Company has a controlling interest. Effective as of the closing of the Business Combination, the Company is the sole managing member of Newco with control over all of the day-to-day business affairs and decision-making of Newco. As a result, the Company consolidates the financial results of Newco and reports a non-controlling interest representing the economic interest in Newco held by Hulu. All intercompany balances and transactions have been eliminated in consolidation.
The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for reporting interim financial information. The consolidated financial statements as of and for the three and nine months ended June 30, 2026 and June 28, 2025 are unaudited; however, in the opinion of management, the consolidated financial statements reflect all adjustments, consisting solely of normal and recurring adjustments, necessary for a fair statement of its financial position, results of operations and cash flows for the periods presented. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year.
The Company has accounted for the acquisition consummated pursuant to the Business Combination Agreement as a reverse acquisition of the Company using the acquisition method of accounting in accordance with GAAP, with the Hulu Live Business treated as the accounting acquirer of the Company. Accordingly, commencing with the Quarterly Report on Form 10-Q for the quarter ended December 31, 2025, filed with the SEC on February 5, 2026, the historical combined carve-out financial statements of the Hulu Live Business are presented as the historical financial statements of the Company. Based on this determination, the financial statements reflect the Hulu Live Business's acquisition of the historical Fubo business as of the Closing Date, including the recognition of the acquired Fubo business's identifiable assets and liabilities at fair value with the residual recorded as goodwill. 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 financial results and information included herein for the nine month period ended June 30, 2026 reflects (x) the results of the Hulu Live Business prepared on a carve-out basis for the period from September 28, 2025 through October 28, 2025, and excludes Fubo’s results for this period, and (y) the results of combined Fubo and Hulu Live businesses for the period from October 29, 2025 through June 30, 2026. The financial results and information for all historical periods presented herein reflect the results of the Hulu Live Business prepared on a carve-out basis and excludes the results of the historical Fubo business. Therefore, the historical results of the Hulu Live Business are not necessarily comparable to the results of the Company following the Business Combination.
Prior to the closing of the Business Combination, the Hulu Live Business' 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. The Hulu Live Business' most recent fiscal year ended on September 27, 2025.
Reverse Stock Split
On March 23, 2026, the Company amended its certificate of incorporation (the "Certificate of Incorporation") in order to effect a 1-for-12 reverse stock split of its Class A Common Stock and Class B Common Stock outstanding (the "Reverse Stock Split"). The Company’s Class A Common Stock began trading on a split-adjusted basis on the New York Stock Exchange at market open on March 24, 2026 under the existing trading symbol "FUBO". As a result of the Reverse Stock Split, every 12 shares of the Company’s Class A Common Stock and Class B Common Stock issued and outstanding were automatically reclassified into one new share of Class A Common Stock or Class B Common Stock, respectively, subject to the treatment of fractional shares as described below, without any action on the part of the holders. The Reverse Stock Split did not affect the number of authorized shares or the par value of the Company's capital stock. No fractional shares were issued in connection with the Reverse Stock Split. Stockholders of the Company's Class A Common Stock who would otherwise have been entitled to receive fractional shares as a result of the Reverse Stock Split were entitled to a cash payment in lieu thereof at a price equal to the fraction of one share to which the stockholder would otherwise be entitled multiplied by the closing price per share of the Class A Common Stock (as adjusted to give effect to the Reverse Stock Split) on the NYSE on March 23, 2026, the last trading day immediately preceding the effective date of the Reverse Stock Split. Proportionate adjustments were made to the exercise or conversion prices and the number of shares underlying the Company’s outstanding equity awards and convertible notes, as applicable, as well as to the number of shares issuable under the Company’s equity incentive plans.
As a result of the Reverse Stock Split, the aggregate par value of the issued common stock was reduced by reclassifying the par value amount of the eliminated shares of common stock to “Additional paid-in capital” in the Company's Consolidated Balance Sheets and Consolidated Statements of Changes in Shareholders’ Equity. All historical share and per-share amounts reflected throughout the Condensed Consolidated Financial Statements and Notes to the Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q have been retroactively adjusted to reflect the Reverse Stock Split as if the Reverse Stock Split occurred as of the earliest period presented.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various other assumptions it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. Those estimates and assumptions include allocating the fair value of purchase consideration to assets acquired and liabilities assumed in business acquisitions, useful lives of intangible assets, recoverability of goodwill and intangible assets, equity instruments issued in share-based payment arrangements, and accounting for income taxes, including the valuation allowance on deferred tax assets.
Segment and Reporting Unit Information
Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is determined to be the CODM. The CODM reviews financial information and makes resource allocation decisions at the consolidated group level. The Company has one operating segment and one reporting unit, the streaming business. The Company has concluded that consolidated net income (loss) is the measure of segment profitability. There are no other expense categories regularly provided to the CODM that are not already included in the condensed consolidated statements of operations and comprehensive loss.
Substantially all of the tangible long-lived assets are located in the United States. The following table presents total revenue for the operating segment (in thousands):
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
United States$1,466,395 $1,073,795 $4,562,033 $3,305,263 
Rest of world15,319 — 42,236 — 
Total revenue$1,481,714 $1,073,795 $4,604,269 $3,305,263 
Cash and Cash Equivalents and Restricted Cash
The Company considers all highly liquid investments with remaining maturities at the date of purchase of three months or less to be cash equivalents, including balances held in the Company’s money market accounts. Restricted cash primarily represents cash on deposit with financial institutions in support of a letter of credit outstanding in favor of the Company’s landlord for office space. The restricted cash balance has been excluded from the cash balance and is classified as restricted cash on the consolidated balance sheets.
The following table provides a reconciliation of cash and cash equivalents and restricted cash within the consolidated balance sheets that sum to the total of the same on the consolidated statement of cash flows (in thousands):
June 30, 2026September 27, 2025
Cash and cash equivalents$230,283 $— 
Restricted cash6,145 — 
Total cash, cash equivalents and restricted cash$236,428 $— 
Certain Risks and Concentrations
Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of demand deposits and accounts receivable. The Company maintains cash deposits with financial institutions that at times exceed applicable insurance limits.
Fair Value Estimates
The carrying amounts of the Company’s financial assets and liabilities, such as cash, other assets, accounts payable and accrued payroll, approximate their fair values because of the short maturity of these instruments. The carrying amounts of long-term borrowings approximate their fair values due to the relatively short-term maturity and the fact that the effective interest rates on these obligations are comparable to market interest rates for instruments of similar credit risk.
Fair Value of Financial Instruments
The Company records its financial assets and liabilities at fair value. Fair value is determined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the reporting date. Fair value is estimated by applying inputs which are classified into the following levels of a three-tier hierarchy as follows:
Level 1 —    quoted prices (unadjusted) in active markets for identical assets or liabilities;
Level 2 —    observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and
Level 3 —    assets and liabilities whose significant value drivers are unobservable.
Accounts Receivable, Net
The Company records accounts receivable at the invoiced amount less an allowance for any potentially uncollectible accounts. The Company’s accounts receivable balance primarily consists of amounts due from the sale of advertisements and subscription revenue. In evaluating our ability to collect outstanding receivable balances, we consider many factors, including the age of the balance, collection history, and current economic trends. Bad debts are written off after all collection efforts have ceased. Based on the Company’s current and historical collection experience, management concluded that an allowance for credit losses was not necessary as of June 30, 2026 and September 27, 2025.
No individual third-party customer accounted for more than 10% of revenue for the three and nine months ended June 30, 2026 and June 28, 2025.
Property and Equipment, Net
Property and equipment is stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are depreciated over the shorter of the lease term or the estimated useful life of the assets. When assets are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of operations and comprehensive loss in the period realized. Maintenance and repairs are expensed as incurred. The Company’s property and equipment, net are being depreciated over their estimated useful lives as follows:
Useful Life
(Years)
Furniture and fixtures5
Computer equipment
3-5
Leasehold improvementsTerm of lease
Licensed Content
The Company entered into various license agreements to obtain rights to certain live sports events. Costs incurred in acquiring certain rights to live sporting events are accounted for in accordance with ASC 920, Entertainment—Broadcasters. These program rights are recorded in subscriber related expenses in a manner consistent with how it expects to monetize the licensed content, which is primarily based on subscription revenue.
Cash flows for licensed content are presented within operating activities in the consolidated statements of cash flows.
Impairment Testing of Long-Lived Assets
The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that their net book value may not be recoverable. When such factors and circumstances exist, the Company compares the projected undiscounted future cash flows associated with the related asset or group of assets over their estimated useful lives against their respective carrying amount. Impairment, if any, is based on the excess of the carrying amount over the fair value and is recorded in the period in which the determination is made. Fair value is based on those assets' market value when available or discounted expected cash flows.
Goodwill
The Company tests goodwill for impairment at the reporting unit level on an annual basis on July 1 for each fiscal year or more frequently if events or changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. The Company assesses qualitative factors to determine whether it is more likely than not that the fair value of a single reporting unit is less than its carrying amount. If it is determined that the fair value is less than its carrying amount, the excess of the goodwill carrying amount over the implied fair value is recognized as an impairment loss. As discussed in Note 7, the Company conducted a quantitative interim impairment test of its goodwill as of March 31, 2026 and concluded no impairment was warranted.
Intangible Assets, Net
The Company’s intangible assets represent definite lived intangible assets, which are being amortized on a straight-line basis over their estimated useful lives as follows:
Useful Life
(Years)
Trade names8
Customer relationships - streaming
2
Customer relationships - advertising
2
Capitalized internal use software3
Developed technology5
Software licenses5
We capitalize qualifying development costs associated with software that is developed or obtained for internal use, provided that management with the relevant authority authorizes and commits to the funding of the project, it is probable the project will be completed and the software will be used to perform the function intended. Capitalized costs, including costs incurred for enhancements that are expected to result in additional significant functionality are capitalized and amortized on a straight-line basis over the estimated useful life, which approximates three years. Costs related to preliminary project activities and post-implementation operation activities, including training and maintenance, are expensed as incurred.
Leases
The Company accounts for its leases under ASC 842, Leases. Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the consolidated balance sheets as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term.
In calculating the right-of-use asset and lease liability, the Company elects to combine lease and non-lease components. The Company also elected not to include short term leases having initial terms of 12 months or less in its right-of-use asset and lease liabilities and recognizes rent expense for these short-term leases on a straight-line basis over the lease term.
Redeemable Non-controlling Interest
Redeemable non-controlling interest is evaluated by the Company and shown as mezzanine equity (shown between liabilities and equity) on the condensed consolidated balance sheets. Redeemable non-controlling interest is measured at their redemption values at the end of each reporting period.
Revenue from Contracts with Customers
The Company recognizes revenue from contracts with customers under ASC 606, Revenue from Contracts with Customers (the “revenue standard”). The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service.
The Company generates revenue from the following sources:
1.Subscriptions – The Company sells various subscription plans for the Fubo Services through its website and third-party app stores. These subscription plans provide different levels of streamed content and functionality depending on the plan selected. Subscription fees are fixed and paid in advance by credit card primarily on a monthly basis. A subscription customer executes a contract by agreeing to the Company’s terms of service. The Company considers the subscription contract legally enforceable once the customer has accepted terms of service and the Company has received credit card authorization from the customer’s credit card company. The terms of service allow customers to terminate the subscription at any time, however, in the event of termination, no prepaid subscription fees are refundable. The Company recognizes revenue when it satisfies a performance obligation by transferring control of the promised services to the customers, which is ratably over the subscription period. Upon the customer agreeing to the Company’s terms and conditions and authorization of the credit card, the customer simultaneously receives and consumes the benefits of the streamed content ratably throughout the term of the contract. Subscription services sold through third-party app stores are recorded gross in revenue with fees to the third-party app stores recorded in subscriber related expenses in the consolidated statement of operations and comprehensive loss. Management concluded that the customers are the end user of the subscription services sold by these third-party app stores.
2.Related party revenue – Pursuant to the Commercial Agreement with Hulu, for the Hulu Live Service, the Company receives a wholesale fee from Hulu initially equal to 95% of carriage fee expenses incurred by the Hulu Live Business for calendar year 2025 and 2026, escalating to 97.5% in calendar year 2027 and 99% in calendar year 2028 and thereafter. The wholesale fee prior to the Closing Date is presented as 100% of carriage fee expenses incurred by the Hulu Live Business.
3.Advertising – Pursuant to the Commercial Agreement with Hulu, certain affiliates of Disney exclusively sell ads on behalf of the Company for the Fubo Services and Hulu Live Service and remit 100% of the revenue to the Company, net of a 15% ad agency fee. The Company recognizes revenue at a point in time when a performance obligation has been satisfied by transferring control of the promised services to the advertiser, which generally is when the advertisement has been displayed.
4.Other revenue – Other revenue consists of distribution fees, commissions, and carriage fees earned on sales through channel distribution platforms for the Fubo Services and Hulu Live Service. The Company recognizes revenue at a point in time when it satisfies a performance obligation by transferring control of the promised services to the customers.
Revenue from third parties (all revenues excluding related party revenue) was 27.9% and 27.2% of the Company's revenue for the three and nine months ended June 30, 2026, respectively, and is 0.3% and 0.3% for the three and nine months ended June 28, 2025, respectively. The Company's revenues are therefore subject to significant concentration risk.
Subscriber Related Expenses
Subscriber related expenses consist primarily of affiliate distribution rights and other distribution costs related to content streaming. The cost of affiliate distribution rights is generally incurred on a per subscriber basis and is recognized when the related programming is distributed to subscribers. Subscriber related expenses also include credit card and payment processing fees for subscription revenue, customer service, certain employee compensation and benefits, cloud computing, streaming, and facility costs. The Company receives advertising spots from television networks for sale to advertisers as part of the affiliate distribution agreements.
Broadcasting and Transmission
Broadcasting and transmission expenses are charged to operations as incurred and consist primarily of the cost to acquire a signal, transcode, store, and retransmit it to the subscriber.
Sales and Marketing
Sales and marketing expenses for the Fubo Services consist of payroll and related costs, benefits, rent and utilities, stock-based compensation, agency costs, advertising campaigns and branding initiatives.
Pursuant to the Commercial Agreement with Hulu, the Company bears all marketing expenses of the Hulu Live Business and will pay Hulu a marketing support fee equal to 10% of the Hulu Live Business’s marketing budget, which marketing budget must be at least equal to 0.7% of revenues of the Hulu Live Business. In exchange for the fee, Hulu will be responsible for marketing execution for the Hulu Live Service in consultation with the Company. The Company also pays Hulu a brand license fee equal to 1.0% of the revenues of the Hulu Live Business.
All sales and marketing costs are expensed as they are incurred.
Technology and Development
Technology and development expenses are charged to operations as incurred. Technology and development expenses consist primarily of payroll and related costs, benefits, rent and utilities, stock-based compensation, technical services, software expenses, and hosting expenses.
General and Administrative
General and administrative expenses consist primarily of payroll and related costs, benefits, rent and utilities, stock-based compensation, corporate insurance, office expenses, professional fees, as well as travel, meals, and entertainment costs.
Stock-Based Compensation
The Company accounts for the fair value of restricted stock units using the closing market price of its common stock on the date of the grant. These restricted stock units generally vest annually over one-year (in the case of annual grants to directors) to four-year (in the case of grants to employees) periods, subject to the recipient’s continuation in service through each applicable vesting date.
The Company accounts for share-based payment awards exchanged for services at the estimated grant date fair value of the award. Stock options issued under the Company’s long-term incentive plans are granted with an exercise price equal to no less than the market price of the Company’s stock at the date of grant and expire up to ten years from the date of grant. These options generally vest annually over four-year periods, subject to the recipient’s continuation in service through each applicable vesting date.
The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment.
Expected Term - The expected option term represents the period of time the option is expected to be outstanding.
Expected Volatility – The expected volatility is based on historical volatility of the Company’s stock price.
Risk-Free Interest Rate - The Company bases the risk-free interest rate on the implied yield available on U. S. Treasury zero-coupon issues with an equivalent remaining term.
Expected Dividend - The Company has never declared or paid any cash dividends on its common shares and does not plan to pay cash dividends in the foreseeable future, and, therefore, uses an expected dividend yield of zero in its valuation models.
The Company accounts for forfeited awards as they occur.
Income Taxes
The Company accounts for income taxes under the asset and liability method, in which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is required to the extent any deferred tax assets may not be realizable.
ASC Topic 740, Income Taxes, (“ASC 740”), also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim period, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s consolidated financial statements. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in material changes to its financial position.
In connection with the Business Combination Agreement, the Company, Newco and Hulu entered into a Tax Receivables Agreement (the “TRA”) which, among other things, obligates the Company to pay Hulu (a) a percentage of the benefit realized from the use of certain historic net operating loss carryforwards (“NOLs”) in an amount equal to the lesser of (i) 70% and (ii) Hulu’s ownership percentage of Newco as of the date the NOL is utilized, and (b) 70% of (i) the total tax benefit that the Company realizes as a result of increases in tax basis in Newco’s assets resulting from future redemptions or exchanges of Newco Units for Class A Common Stock (or cash), and (ii) certain other tax benefits attributable to payments made under the TRA. The Company does not expect to use any historical NOLs during the fiscal year ending September 30, 2026. Thus, no TRA liability has been recorded on the condensed consolidated balance sheet as of June 30, 2026.
Foreign Currency
The Company’s reporting currency is the U.S. dollar while the functional currencies of non-U.S. subsidiaries are determined based on the primary economic environment in which the subsidiary operates. The financial statements of non-U.S. subsidiaries are translated into United States dollars in accordance with ASC 830, Foreign Currency Matters, using period-end rates of exchange for assets and liabilities, and average rates of exchange for the period for revenues, costs, and expenses and historical rates for equity. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining other comprehensive income (loss).
Net Loss Per Share
Net loss per basic share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period.
The following table presents the calculation of basic net loss per share (in thousands, except shares and per share data):
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Numerator:
Net loss$(25,711)$(38,019)$(50,981)$(117,520)
Less: net loss attributable to non-controlling interest
17,487 — 34,680 — 
Net loss attributable to common shareholders
(8,224)(38,019)(16,301)(117,520)
Denominator:
Weighted-average common shares outstanding32,758,090 — 31,055,542 — 
Basic and diluted net loss per share$(0.25)$(0.52)
The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive:
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Stock options1,298,979 — 1,298,979 — 
Unvested restricted stock units2,873,005 — 2,873,005 — 
Convertible notes variable settlement feature3,855,540 — 3,855,540 — 
Total8,027,524 — 8,027,524 — 
Recent Accounting Pronouncements
Recently Issued Accounting Standards
In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740): Improvements to Income Tax Disclosures, requires incremental disclosures within the income tax disclosures that increase the transparency and usefulness of income tax disclosures. The updated disclosures primarily require specific categories and greater disaggregation within the rate reconciliation, disaggregation of income taxes paid, and modifications of other income tax-related disclosures. The new guidance is applicable for annual periods beginning with the Company's fiscal year ending September 30, 2026.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses and in January 2025, the FASB issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. This standard requires public companies to disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. The new standard, as clarified by ASU 2025-01, is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently in the process of evaluating the effects of the new guidance.
In November 2024, the FASB issued ASU 2024-04, Debt-Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. This standard clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. It is effective for fiscal years beginning after December 15, 2025 and is permitted on either a prospective or retrospective basis. The Company is currently in the process of evaluating the effects of the new guidance.
In May 2025, the FASB issued ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810). This update improves the requirements for identifying the accounting acquirer in Topic 805, particularly in improving the comparability between transactions involving VIEs and those not involving VIEs. The amendments require that an entity consider the same factors that are currently required for determining which entity is the accounting acquirer in other transactions. It is effective for fiscal periods beginning after December 15, 2026 and interim reporting periods within those annual reporting periods. The Company is currently in the process of evaluating the effects of the new guidance.
In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326). This update introduces a practical expedient for all entities and an accounting policy election other than public business entities related to applying Subtopic 326-20 to current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. It is effective for fiscal years beginning after December 15, 2025 and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently in the process of evaluating the effects of the new guidance.
In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal Use Software (Subtopic 350-40). This update is intended to modernize the accounting software costs that are accounted for under Subtopic 350-40. It is effective for fiscal years beginning after December 15, 2027 and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently in the process of evaluating the effects of the new guidance.
In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies the guidance in Topic 270 to improve the navigability of required interim financial disclosures. This guidance provides a comprehensive list of interim disclosures required by GAAP and includes a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years, with early adoption permitted. The Company is currently in the process of evaluating the effects of the new guidance.
v3.26.1
Liquidity, Going Concern and Management Plans
 9 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Liquidity, Going Concern and Management Plans Liquidity, Going Concern and Management Plans
The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business.
The Company had cash and cash equivalents and restricted cash of $236.4 million, working capital of $4.0 million and an accumulated deficit of $16.3 million as of June 30, 2026. During the nine months ended June 30, 2026, the Company generated a net loss of $51.0 million.
The Company believes that its current cash and cash equivalents provide it with the necessary liquidity to continue as a going concern for at least one year from the date of issuance of these financial statements. On January 5, 2026, the Company issued a promissory note (the “Disney Note”) to Disney Enterprises, Inc., an affiliate of The Walt Disney Company, pursuant to which the Company borrowed an aggregate principal amount of $145.0 million under a senior unsecured term facility. On January 14, 2026, using the proceeds of the Disney Note, the Company repurchased approximately $140.2 million aggregate principal amount of its outstanding 3.25% Convertible Senior Notes due February 15, 2026 ("2026 Convertible Notes") at a repurchase price of 100% of their principal amount, plus accrued and unpaid interest to, but not including, the repurchase date. The Company repaid the remaining $4.6 million aggregate principal amount of 2026 Convertible Notes outstanding at maturity on February 15, 2026, resulting in the repayment of the 2026 Convertible Notes. See Note 10 for more information relating to the Disney Note and repayment of the 2026 Convertible Notes. The Company's future capital requirements and the adequacy of available funds will depend on many factors, including its ability to successfully attract and retain subscribers and compete in a rapidly changing market with many competitors.
In addition to the foregoing, the Company cannot predict the potential impact on its development timelines, revenue levels and its liquidity due to macroeconomic factors, including inflationary cost pressures and potential recession indicators, which depend on factors beyond the Company's knowledge or control. Based upon the Company’s current assessment, it does not expect the impact of macroeconomic factors to materially impact the Company’s operations. However, the Company is continuing to assess the impact that the macroeconomic factors may have on its operations, financial condition and liquidity.
v3.26.1
Business Combination
 9 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination Business Combination
The consummation of the Business Combination described in Note 1 has been accounted for as a reverse acquisition using the acquisition method of accounting in accordance with the guidance of ASC 805, Business Combinations (“ASC 805”). ASC 805 requires that one of the combining entities be designated as the acquirer for accounting purposes. The Hulu Live Business has been determined to be the accounting acquirer. In identifying the Hulu Live Business as the accounting acquirer, management took into account the structure of the Business Combination, including the relative voting rights and the corporate governance structure of the combined company as of the Closing Date, the composition of Fubo’s board of directors and designation of certain senior management positions. The purchase price has been allocated to the fair value of the historical Fubo business's identifiable assets and liabilities as of the Closing Date, with the excess purchase price recorded as goodwill.
Consideration Transferred
The fair value of the consideration transferred in the reverse acquisition on the Closing Date was $1,347.6 million, which consists of 28,560,344 shares of the Company’s Class A Common Stock valued at $1,264.7 million and equity awards attributed to pre-combination services valued at $82.9 million.
Allocation of Purchase Price
The purchase price is allocated to the legacy Fubo assets acquired and liabilities assumed based on their estimated fair values on the Closing Date, with any excess purchase price recorded as goodwill.
The following table summarizes the final purchase price allocation to the identifiable assets acquired and liabilities assumed as of the Closing Date (in thousands):
Fair value of consideration transferred$1,347,599 
Estimated fair value of assets acquired and liabilities assumed:
Cash and cash equivalents261,909 
Accounts receivable, net77,715 
Prepaid sports rights25,978 
Prepaid and other current assets19,569 
Property and equipment5,698 
Restricted cash6,148 
Intangible assets456,193 
Right-of-use assets34,301 
Other non-current assets11,816 
Accounts payable, accrued expenses, and other current liabilities(340,072)
Deferred revenue(99,575)
Convertible notes - current(144,765)
Long-term borrowings - current portion(696)
Lease liabilities - current
(2,799)
Convertible notes - non-current
(237,379)
Deferred tax liabilities
(1,211)
Lease liabilities - non-current
(31,502)
Other long-term liabilities(11,977)
Total estimated fair value of net assets acquired29,351 
Estimated goodwill1,318,248 
The fair values of the intangible assets acquired were determined using the income and cost approaches. The fair value measurements were primarily based on significant inputs that are not observable in the market and thus represent Level 3 measurements as defined in ASC 820. The relief from royalty method was used to value the software and technology and trade names. The relief from royalty method is an application of the income method and estimates fair value for an asset based on the expected cost to license a similar asset from a third-party. Projected cash flows are discounted at a required rate of return that reflects the relative risk of achieving the cash flow and the time value of money. The cost approach, which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility, was used for customer relationships. The cost to replace a given asset reflects the estimated reproduction or replacement cost for these customer related assets.
Supplemental Pro Forma Financial Information
The following table presents the unaudited pro forma results of operations as if the Business Combination had occurred as of October 1, 2024:
Three Months EndedNine Months Ended
June 28, 2025June 30, 2026June 28, 2025
Pro forma revenue
$1,483,785 $4,738,701 $4,636,540 
Pro forma net (loss) income
$(71,970)$(78,305)$(81,773)
The pro forma information is based on the historical combined carve-out financial statements of the Hulu Live Business and historical consolidated financial statements of Fubo, with adjustments directly attributable to the Business Combination, including the impact of the various commercial arrangements entered into in connection therewith, such as the wholesale fee arrangement, marketing support charge, brand license fee and advertising agency fee, as well as the incremental intangible asset amortization to be incurred based on the fair values and useful lives of each identifiable intangible asset of the Fubo business.
v3.26.1
Revenue from Contracts with Customers
 9 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
Disaggregated Revenue
Related party revenue is all generated in the United States. The following tables summarize subscription revenue and advertising revenue by region:
Subscription and Advertising
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
United States and Canada (North America)$401,560 $— $1,219,772 $— 
Rest of world7,787 — 21,914 — 
Total subscription and advertising revenues
$409,347 $— $1,241,686 $— 
Contract Balances
For the three and nine months ended June 30, 2026 and June 28, 2025, the Company did not recognize material bad-debt expense and there were no material contract assets recorded on the accompanying condensed consolidated balance sheets as of June 30, 2026 and September 27, 2025.
The Company’s contract liabilities primarily relate to upfront payments and consideration received from customers for subscription services. As of June 30, 2026, the Company’s contract liabilities totaled approximately $71.3 million and are recorded as deferred revenue on the accompanying condensed consolidated balance sheets. The majority of the deferred revenue is expected to be recognized as revenue within the next month. The remaining deferred revenue balance is expected to be recognized as revenue within the next twelve months. There were no contract liabilities outstanding at September 27, 2025.
Transaction Price Allocated to Remaining Performance Obligations
The Company does not disclose the transaction price allocated to remaining performance obligations since subscription and advertising contracts have an original expected term of one year or less.
v3.26.1
Property and Equipment, Net
 9 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
The table below summarizes the Company’s property and equipment, net (in thousands):
Useful Life
(Years)		June 30, 2026September 27, 2025
Furniture and fixtures5$409 $— 
Computer equipment
3-5
3,810 — 
Leasehold improvementsTerm of lease2,522 — 
6,741 — 
Less: Accumulated depreciation(1,023)— 
Total property and equipment, net$5,718 $— 
Depreciation expense totaled approximately $0.4 million and $1.0 million for the three and nine months ended June 30, 2026, respectively. There was no depreciation expense recorded during the three and nine months ended June 28, 2025.
v3.26.1
Intangible Assets and Goodwill
 9 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
Intangible Assets
The tables below summarize the Company’s intangible assets (in thousands):
Useful
Life
(Years)		Weighted
Average
Remaining
Life
(Years)		June 30, 2026
Intangible AssetsAccumulated Amortization Net Balance
Trade names87.3112,400 (9,367)103,033 
Customer relationships - streaming21.3145,600 (48,533)97,067 
Customer relationships - advertising21.319,800 (6,600)13,200 
Capitalized internal use software31.728,266 (9,230)19,036 
Developed technology
54.3155,000 (20,667)134,333 
Software licenses
52.43,171 (704)2,467 
Total$464,237 $(95,101)$369,136 
The intangible assets are being amortized over their respective original useful lives, which range from two to eight years.
The Company recorded amortization expense related to the above intangible assets of approximately $35.8 million and $95.4 million for the three and nine months ended June 30, 2026, respectively. There was no amortization expense recorded during the three and nine months ended June 28, 2025.
There were no intangible assets outstanding at September 27, 2025.
The estimated future amortization expense associated with intangible assets, net is as follows (in thousands):
Fiscal Year Ending September 30,
Future Amortization
2026$35,793 
2027137,843 
202857,934 
202946,574 
203045,088 
Thereafter45,904 
Total$369,136 
Goodwill
The following table is a summary of the changes to goodwill for the nine months ended June 30, 2026 (in thousands):
Balance - September 27, 2025$1,296,000 
Fubo purchase accounting
1,318,248 
Balance - June 30, 2026
$2,614,248 
The Company tests goodwill for impairment at the reporting unit level on an annual basis on July 1 for each fiscal year or more frequently if triggering events indicate a possible impairment. Since the Closing Date of the Business Combination, the Company experienced significant decreases in its stock price and market capitalization. During the period ended March 31, 2026, the Company determined that the decreases in its stock price and market capitalization represented a triggering event. As a result, the Company engaged an independent valuation specialist to conduct a quantitative interim impairment test of its goodwill as of March 31, 2026, employing both the income approach (discounted cash flow) and market approach. In completing the quantitative impairment test, the Company compared the reporting unit’s fair value, primarily based on future discounted cash flows, to its carrying value in order to determine if an impairment charge is warranted. The estimates of future discounted cash flows involve considerable management judgment and are based upon certain significant assumptions including the weighted average cost of capital as well as projected EBITDA, which includes assumptions related to revenue growth rates and operating expenses. The weighted average cost of capital and long-term growth rate used to determine the fair value of the reporting unit were 13.0% and 3.0%, respectively. Based on the interim impairment assessment, the Company concluded that the estimated fair value of the reporting unit exceeded its carrying value by approximately 3.6% and the Company concluded no impairment was warranted.
During the three months ended June 30, 2026, the Company determined that there were no triggering events that would require the Company to perform an interim impairment analysis.
Notwithstanding the results of the Company’s interim impairment assessment, if the Company's stock price and market capitalization and the financial performance of the reporting unit declines, then it is possible these financial and economic conditions could result in another triggering event for the reporting unit in the future and could lead to a potential impairment.
v3.26.1
Accounts Payable, Accrued Expenses, Related party and Other Long-term Liabilities
 9 Months Ended
Jun. 30, 2026
Payables and Accruals [Abstract]  
Accounts Payable, Accrued Expenses, Related party and Other Long-term Liabilities Accounts Payable, Accrued Expenses, Related party and Other Long-term Liabilities
Accounts payable, accrued expenses, related party current liabilities and other long-term liabilities are presented below (in thousands):
June 30, 2026September 27, 2025
 Affiliate fees $719,650 $387,329 
 Broadcasting and transmission 7,371 — 
 Selling and marketing 36,620 — 
 Accrued compensation 8,290 — 
 Legal and professional fees 3,828 — 
 Income tax payable
1,823 — 
 Sales tax 18,302 — 
 Guaranteed liabilities
9,994 — 
 Accrued interest 5,249 — 
 Subscriber related 2,474 — 
 Other 8,830 — 
Total$822,431 $387,329 
v3.26.1
Income Taxes
 9 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The following table presents income tax provision for income taxes (in thousands, except for effective tax rate):
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Income tax provision(728)— (1,438)— 
Effective tax rate (2.91)%— %(2.90)%— %
During the three and nine months ended June 30, 2026, the Company recorded an income tax provision of $0.7 million and $1.4 million, respectively. The effective tax rate was (2.91)% and (2.90)% on a pre-tax loss of $25.0 million and $49.5 million during the three and nine months ended June 30, 2026, respectively. The effective tax rate differs from the U.S. Statutory rate of 21% as no tax benefit was provided on current year operating losses primarily due to valuation allowances recorded against the Company’s net deferred tax assets. Although the Company has a pre-tax loss, the Company recorded a tax expense primarily related to foreign and certain U.S. state and local jurisdictions resulting in a negative effective tax rate.
During the three and nine months ended June 28, 2025, the effective tax rate was 0.00% on pre-tax loss of $38.0 million and $117.5 million, respectively. The effective tax rate differs from the U.S. Statutory rate of 21% because the Hulu Live Business was part of Hulu, which was a non-taxable partnership through June 27, 2025. Therefore, no income tax was allocated to the Hulu Live Business when prepared on a carve out basis for the three and nine months ended June 28, 2025.
The Company regularly evaluates the realizability of its deferred tax assets and establishes a valuation allowance if it is more likely than not that some or all the deferred tax assets will not be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, loss carrybacks and tax-planning strategies. Generally, more weight is given to objectively verifiable evidence, such as the cumulative losses in recent years which is a significant piece of negative evidence to overcome. The Company maintains a full valuation allowance on all its U.S., French, and Spanish deferred tax assets as the Company concluded that such deferred tax assets are not realizable on a more-likely-than-not basis.
v3.26.1
Debt
 9 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Debt Debt
The Company's debt consists of the following (in thousands, except stated interest rate):
NoteStated Interest RatePrincipal Balance
Debt Premium
June 30,
2026
2029 Convertible Notes7.5%$177,506 $47,447 $224,953 
Note payable - related party
4.2%145,000 145,000 
Long-term borrowings - current portion
2.25%342 — 342 
2029 Convertible Notes
On December 29, 2023, the Company entered into a privately negotiated exchange agreement with certain affiliates and related funds of Mudrick Capital Management, L.P., which were holders of its existing 2026 Convertible Notes, to exchange $205.8 million principal amount of the 2026 Convertible Notes for $177.5 million in aggregate principal amount of the Company’s new convertible senior secured notes due 2029 (the “2029 Convertible Notes”) (the "Exchange"). The Exchange closed on January 2, 2024, when the 2029 Convertible Notes were issued pursuant to, and are governed by, an indenture, dated as of January 2, 2024, among the Company, the guarantors identified therein and U.S. Bank Trust Company, National Association, as trustee and collateral agent.
At our election for any interest period, the 2029 Convertible Notes will bear interest at a rate of (i) 7.5% per annum on the principal amount thereof if interest is paid in cash and (ii) 10.0% per annum on the principal amount thereof if interest is paid in kind, in each case payable semi-annually in arrears on February 15 and August 15 of each year, beginning on February 15, 2024. The 2029 Convertible Notes will mature on February 15, 2029, unless earlier converted or repurchased.
The initial conversion rate of the 2029 Convertible Notes is 21.7206 shares of common stock per $1,000 principal amount of 2029 Convertible Notes, which represents an initial conversion price of approximately $46.04 per share of common stock. Holders may convert their 2029 Convertible Notes at their option in the following circumstances:
(i)during any calendar quarter commencing after the calendar quarter ending on March 31, 2024 (and only during such calendar quarter), if the last reported sale price per share of common stock is greater than or equal to 130% of the conversion price for each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter;
(ii)during the five consecutive business days immediately after any five consecutive trading day period (such five consecutive trading day period, the “measurement period”) in which the trading price per $1,000 principal amount of 2029 Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price per share of common stock on such trading day and the conversion rate on such trading day;
(iii)upon the occurrence of certain corporate events or distributions on the Company’s common stock, as provided in the Indenture; and
(iv)on or after November 15, 2028 until the close of business on the second scheduled trading day immediately before the Maturity Date.
The Company may cause all outstanding 2029 Convertible Notes to be automatically converted, subject to certain conditions, if, at any time on or after January 2, 2025, the last reported sale price of the Company’s common stock has been at least 200% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period, the last of which 20 trading days is no more than 10 trading days before the date that the Company provides the notice of forced conversion. Upon conversion, the Company can elect to deliver cash or shares or a combination of cash or shares.
Upon the occurrence of a fundamental change (as defined in the Indenture), holders of the 2029 Convertible Notes may require the Company to repurchase their 2029 Convertible Notes at a cash repurchase price equal to the principal amount of the 2029 Convertible Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date. The definition of fundamental change includes certain business combination transactions involving the Company and certain de-listing events with respect to the Company’s common stock.
As previously disclosed, the closing of the Business Combination constituted a fundamental change under the indenture governing our 2029 Convertible Notes, triggering our delivery of a notice to holders of 2029 Convertible Notes regarding their fundamental change repurchase right (the “2029 Notes Tender Offer”). The Tender Offer expired on January 6, 2026 at 5:00 p.m. New York City time (the “2029 Notes Expiration Time”). As of the 2029 Notes Expiration Time, none of the outstanding 2029 Convertible Notes were surrendered for repurchase pursuant to the 2029 Notes Tender Offer. As of June 30, 2026, the aggregate principal amount of 2029 Convertible Notes outstanding is approximately $177.5 million, which will mature on February 15, 2029, unless earlier repurchased or converted.
During the nine months ended June 30, 2026, the Company paid approximately $6.7 million of interest expense in connection with the 2029 Convertible Notes. No interest expense was paid during the three months ended June 30, 2026.
During the three and nine months ended June 30, 2026, the Company recorded amortization income of $4.7 million and $12.4 million, respectively, included in amortization of debt premium, net in the condensed consolidated statements of operations and comprehensive loss.
The fair value (Level 2) of the 2029 Convertible Notes was $175.1 million as of June 30, 2026.
Note payable - related party
On January 5, 2026, the Company issued the Disney Note to Disney Enterprises, Inc. (the “Lender”), an affiliate of Disney, pursuant to which the Company borrowed an aggregate principal amount of $145.0 million. The Disney Note was issued pursuant to a commitment letter, dated January 6, 2025, executed concurrently with the Business Combination Agreement, pursuant to which the Lender committed to provide the Company, on January 5, 2026 and on the terms and subject to the conditions set forth therein, up to $145.0 million of indebtedness in the form of a senior unsecured term facility.
The Disney Note bears interest at a rate equal to 4.2% per annum. The Disney Note is unsecured and matures on January 5, 2031 unless earlier repaid, subject to springing maturity in the event the Company incurs certain unsecured indebtedness with a scheduled maturity prior to January 5, 2031. The Company may prepay any portion of the outstanding principal at any time without penalty.
The Disney Note includes customary covenants and sets forth certain events of default after which the outstanding principal may be declared immediately due and payable, including certain types of bankruptcy or insolvency events of default involving the Company and certain of its subsidiaries.
During the three and nine months ended June 30, 2026, the Company paid $1.5 million and $2.7 million, respectively, in interest expense related to the Disney Note.
As discussed in Note 3, the proceeds from the Disney Note were used to repay $144.8 million of outstanding principal and approximately $2.0 million of interest expense on the 2026 Convertible Notes.
v3.26.1
Fair Value Measurements
 9 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The Company’s assets measured at fair value on a recurring basis consisted of the following (in thousands):
Fair value measured at June 30, 2026
Quoted
prices in
active
markets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)		Total
Financial assets at fair value:
Cash and cash equivalents
Money market securities and time deposits$206,725 $— $— $206,725 
Total financial assets at fair value$206,725 $— $— $206,725 
There were no assets measured at fair value as of September 27, 2025.
There were no liabilities measured at fair value as of June 30, 2026 and September 27, 2025. See Note 2 - Fair Value Estimates.
v3.26.1
Equity-Based Compensation
 9 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Equity-Based Compensation Equity-Based Compensation
Stock-Based Compensation
The Company recognized stock-based compensation expense as follows (in thousands):
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Subscriber related expenses$66 $— $180 $— 
Sales and marketing2,422 — 7,774 — 
Technology and development2,213 — 6,779 — 
General and administrative4,776 — 17,626 — 
Total stock-based compensation expense
$9,477 $— $32,359 $— 
Equity Incentive Plans
On April 1, 2020, Fubo's board of directors approved the establishment of the 2020 Equity Incentive Plan, as subsequently amended (the “2020 Plan”). The 2020 Plan provides for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance units and performance shares to its employees, directors and consultants. As of June 30, 2026, there are 1,334,954 shares available for future issuance under the 2020 Plan.
On August 3, 2022, August 7, 2023, August 5, 2024 and August 8, 2025, Fubo's board of directors adopted the 2022 Employment Inducement Equity Incentive Plan ("2022 Plan"), the 2023 Employment Inducement Equity Incentive Plan ("2023 Plan"), the 2024 Employment Inducement Equity Incentive Plan ("2024 Plan") and the 2025 Employment Inducement Equity Incentive Plan (the “2025 Plan” and, collectively, the "Inducement Plans"), respectively, in each case without shareholder approval pursuant to Rule 303A.08 of the New York Stock Exchange Listed Company Manual. The Inducement Plans provide for the grant of equity-based awards, including non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance units and performance shares, and their terms are substantially similar to the 2020 Plan, with the exception that awards can only be made to new employees in connection with their commencement of employment. As of June 30, 2026, there are no shares available for future issuance under the 2022 Plan, 2023 Plan and 2024 Plan, and there are 243,806 shares available for future issuance under the 2025 Plan.
Time-Based Stock Options
A summary of time-based stock option activity for the nine months ended June 30, 2026 is as follows (in thousands, except share and per share amounts):
Number of Shares Weighted Average
Exercise Price		Total Intrinsic ValueWeighted Average Remaining
Contractual Life
(Years)
Outstanding as of September 27, 2025— $— $— N/A
Assumed from Fubo655,138 $90.56 $2,755 3.9
Exercised(13,719)$7.51 
Forfeited or expired(55,216)$122.70 
Outstanding as of June 30, 2026
586,203 $89.48 $2 3.9
Options vested and exercisable as of June 30, 2026
572,949 $91.21 $2 3.5
There were no options granted during the three and nine months ended June 30, 2026 and June 28, 2025.
As of June 30, 2026, the estimated value of unrecognized stock-based compensation expense related to unvested options was approximately $0.1 million to be recognized over a weighted average period of 0.7 years.
Market and Service Condition Based Stock Options
A summary of activity under the 2020 Plan for market and service-based stock options for the nine months ended June 30, 2026 is as follows (in thousands, except share and per share amounts):
Number of SharesWeighted Average
Exercise Price		Total Intrinsic ValueWeighted Average Remaining
Contractual Life
(Years)
Outstanding as of September 27, 2025— $— $— N/A
Assumed from Fubo
371,110 $153.00 $— 1.8
Outstanding as of June 30, 2026
371,110 $153.00 $— 1.2
Options vested and exercisable as of June 30, 2026
371,110 $153.00 $— 1.2
There were no market and service-based options granted during the nine months ended June 30, 2026 and June 28, 2025.
As of June 30, 2026, there was no unrecognized stock-based compensation expense for market and service-based stock options.
Performance-Based Stock Options
On October 8, 2020, the Company granted David Gandler, the Company’s former Chief Executive Officer, a performance stock option to purchase 341,666 shares of common stock, with an exercise price of $120.00, subject to the achievement of certain predetermined performance goals. On April 20, 2023, the Company amended the award to modify the vesting conditions with respect to the 273,333 options that remained unvested as of the amendment date (the "Amended Options"), which became eligible to vest on February 20, 2026 (the "Vesting Date") subject to the achievement of certain amended performance goals. In connection with the Business Combination, the Amended Options were earned at the target performance level and vested on the Vesting Date. Compensation cost related to the Amended Options is recognized over the requisite service period for the amended award beginning on the amendment date and ending on the Vesting Date based on the probability of achievement of the Performance Criteria. The fair value of the Amended Options as of the amendment date totaled $1.2 million. The Amended Options are subject to acceleration upon certain events and conditions, including a change of control and qualifying terminations, and upon death, disability, and certain “good leaver” circumstances.
Time-Based Restricted Stock Units
A summary of the Company’s time-based restricted stock unit activity during the nine months ended June 30, 2026 is as follows:
Number of Shares Weighted Average Grant-Date
Fair Value
Unvested at September 27, 2025— N/A
Assumed from Fubo
2,887,103 $31.18 
Granted371,167 $43.85 
Vested(881,843)$36.23 
Forfeited or expired(70,696)$29.35 
Unvested at June 30, 2026
2,305,731 $31.34 
During the nine months ended June 30, 2026, the Company granted 371,167 time-based restricted stock units. The fair value of restricted stock units is measured based on their fair value at grant date which totaled approximately $16.3 million.
As of June 30, 2026, the unrecognized stock-based compensation expense related to time-based restricted stock units totaled $54.7 million to be recognized over a weighted average period of 2.4 years and had an aggregate intrinsic value of approximately $21.2 million.
Performance-Based Restricted Stock Units ("PRSUs")
A summary of the Company’s performance-based restricted stock unit activity during the nine months ended June 30, 2026 is as follows:
Number of SharesWeighted Average Grant-Date
 Fair Value
Unvested at September 27, 2025— N/A
Assumed from Fubo
357,915 $58.14 
Granted129,689 $44.28 
Vested(29,062)$37.75 
Unvested at June 30, 2026458,542 $55.51 
During the nine months ended June 30, 2026, the Company granted an aggregate of 129,689 PRSUs with a grant date fair value of $5.7 million to certain executives. Compensation cost related to the target PRSUs will be recognized over the requisite service period.
During the three and nine months ended June 30, 2026, the Company recognized aggregate stock-based compensation expense of $1.1 million and $4.2 million respectively, related to these PRSUs. As of June 30, 2026, aggregate unrecognized stock-based compensation related to these PRSUs totaled $5.1 million.
There was no stock-based compensation expense related to the PRSUs recognized during the three and nine months ended June 28, 2025.
Market and Service Condition Based Restricted Stock Units
A summary of the Company’s market and service-based restricted stock unit activity during the nine months ended June 30, 2026 is as follows:
Number of SharesWeighted Average Grant-Date
 Fair Value
Unvested at September 27, 2025— N/A
Assumed from Fubo
108,732 $33.76 
Unvested at June 30, 2026108,732 $33.76 
During the nine months ended June 30, 2026, there were no market and service condition based restricted stock units granted. Compensation cost related to the market and service condition based restricted stock units will be recognized over the requisite service period.
During the three and nine months ended June 30, 2026, the Company recognized $0.3 million and $0.8 million respectively, of the stock-based compensation expense related to market and service-based restricted stock units. As of June 30, 2026, aggregate unrecognized stock-based compensation related to these restricted stock units totaled $2.4 million.
v3.26.1
Commitments and Contingencies
 9 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Leases
The components of lease expense were as follows (in thousands):
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Operating leases
Operating lease cost$1,324 $— $3,530 $— 
Other lease cost80 — 253 — 
Operating lease expense1,404 — 3,783 — 
Short-term lease rent expense944 — 2,396 — 
Total rent expense$2,348 $— $6,179 $— 
Supplemental cash flow information related to leases were as follows (in thousands, except term and discount rate):
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Operating cash flows from operating leases$1,233 $— $3,289 $— 
Right of use assets exchanged for operating lease liabilities assumed from Fubo
$— $— $34,301 $— 
Weighted average remaining lease term - operating leases9.2N/A9.2N/A
Weighted average discount rate - operating leases
6.8 %N/A6.8 %N/A
As of June 30, 2026, future minimum payments for the operating leases are as follows (in thousands):
Fiscal Year Ending September 30,Future payments
2026$1,234 
20274,967 
20284,400 
20294,403 
20304,403 
Thereafter24,031 
Total43,438 
Less present value discount(10,993)
Operating lease liabilities$32,445 
Other Contractual Obligations
The Company is a party to several non-cancelable contracts with vendors and licensors for marketing and other strategic partnership related agreements and various sports right agreements to obtain programming rights to certain live sporting events where the Company is obligated to make future payments under these contracts as follows (in thousands):
Fiscal Year Ending September 30, Future payments
2026$19,098 
202728,002 
20288,808 
20293,563 
20303,613 
Thereafter6,438 
Total$69,522 
Contingencies
The Company is subject to certain inquiries, investigations, legal proceedings and claims that arise from time to time in the ordinary course of its business, including relating to business practices and patent infringement. Litigation can be expensive and disruptive to normal business operations. Moreover, the results of complex legal proceedings are difficult to predict and the Company’s view of these matters may change in the future as the litigation and events related thereto unfold. When the Company determines that a loss is both probable and reasonably estimable, a liability is recorded and disclosed if the amount is material to the financial statements taken as a whole. When a material loss contingency is only reasonably possible, the Company does not record a liability, but instead discloses the nature and the amount of the claim, and an estimate of the loss or range of loss, if such an estimate can reasonably be made. Legal expenses associated with any contingency are expensed as incurred.
The Company is engaged in discussions with certain third parties regarding patent licensing matters. The Company is not able to reasonably estimate whether it will be able to reach an agreement with these parties or the amount of potential licensing fees, if any, it may agree to pay in connection with these discussions, but it is possible that any such amount could be material.
Legal Proceedings
The Company is, and may in the future be, involved in various legal proceedings arising from the normal course of business activities. Although the results of litigation and claims cannot be predicted with certainty, currently, the Company believes that the likelihood of any material adverse impact on the Company’s consolidated results of operations, cash flows or our financial position for any such litigation or claims is remote. Regardless of the outcome, litigation can have an adverse impact on the Company because of the costs to defend lawsuits, diversion of management resources and other factors.
DISH Technologies, LLC, et al. v. fuboTV Media Inc., No. 1:23-cv-00986 (D. Del.)
On September 6, 2023, DISH Technologies L.L.C. and Sling TV L.L.C. (collectively, “DISH”) filed a complaint in the District of Delaware alleging that fuboTV Media Inc. (n/k/a FuboTV Media LLC) (“FuboTV Media”) infringes eight of DISH's patents by streaming video through a FuboTV Media application and seeking damages and injunctive relief.
On December 14, 2023, following a series of stipulated extensions, FuboTV Media filed a motion to dismiss the complaint asserting that DISH’s patents are invalid. A hearing was held on March 25, 2024.
On May 7, 2024, DISH filed a motion for leave to file a First Amended Complaint to assert more claims. The district court granted this motion on May 21, 2024, and denied-as-moot FuboTV Media’s motion to dismiss. FuboTV Media also filed petitions for inter partes review (“IPR”) on all the asserted patents, five of which relate to patents for which the United States Patent Trial and Appeal Board (“PTAB”) instituted proceedings in April 2024, and issued its final written decisions holding the majority of the challenged claims unpatentable in April 2025. The lead Petitioner in these IPRs requested rehearing and DISH requested Director Review of these decisions, both of which were denied in October 2025 and August 2025, respectively. The lead Petitioner in these IPRs, FuboTV Media, and DISH filed notices of appeal and those appeals are pending. In November 2025, the PTAB issued its final written decisions on the IPRs for the remaining three patents, holding all claims of all three patents unpatentable. In December 2025, DISH filed petitions for Director Review of these three decisions, which FuboTV Media opposed. In March 2026, DISH’s petitions for Director Review were all denied, and DISH filed notices of appeal for the remaining three patents. Those appeals are pending. On June 30, 2026, DISH filed a voluntary petition for bankruptcy relief under chapter 11 of title 11 of the United States Code, 11 U.S.C. §§ 101-1532. On July 28, 2026, DISH filed notices of its bankruptcy filing in the appeals of the IPR decisions. The Federal Circuit subsequently stayed the appeals pending further notice from the court.
After filing its IPR petitions, FuboTV Media filed a motion to stay the district court case pending resolution of those reviews. The district court granted that motion on August 13, 2024, staying the case until two weeks after the PTAB issues final written decisions on the five then-instituted patents and any appeals therefrom, and ordered that the stay would remain in place for the duration of any instituted IPRs and appeals therefrom on the remaining three patents. On December 5, 2024, the parties informed the Court that the PTAB instituted review for the remaining three patents. Currently, the case is fully stayed pending the instituted IPRs and related appeals.
At this time, the Company cannot predict the outcome or provide a reasonable estimate or range of estimates of the possible outcome or loss, if any, with respect to this matter. The Company believes it has meritorious defenses and intends to defend itself vigorously in this matter.
DISH Network L.L.C. vs. FuboTV Inc. and FuboTV Media
On January 2, 2026, in connection with existing breach of contract litigation brought in the Southern District of New York by Disney against DISH Network L.L.C. (“DISH LLC”), DISH LLC asserted antitrust counterclaims naming FuboTV Inc. and FuboTV Media, along with Disney and other Disney-affiliated companies, as counterclaim defendants. The counterclaims against the Fubo entities assert violations of Section 1 of the Sherman Act and Section 7 of the Clayton Act based on Disney’s acquisition of a controlling share of Fubo. The counterclaims against Fubo seek, inter alia, injunctive relief in the form of the unwinding of Disney’s acquisition of a controlling share of Fubo, as well as monetary damages. On February 20, 2026, Fubo and Disney jointly moved to dismiss DISH LLC’s counterclaims. DISH LLC filed amended counterclaims on March 13, 2026, and Fubo and Disney moved to dismiss the amended counterclaims on March 27, 2026. Briefing on the motion to dismiss was completed on April 24, 2026. The Court stayed discovery on the antitrust counterclaims pending resolution of the motion to dismiss. On June 30, 2026, DISH LLC filed a voluntary petition for bankruptcy relief under chapter 11 of title 11 of the United States Code, 11 U.S.C. §§ 101-1532. On July 14, 2026, the Court stayed the entire action pending resolution of the underlying bankruptcy proceeding.
At this time, the Company cannot predict the outcome, or provide a reasonable estimate or range of estimates of the possible outcome or loss, if any, with respect to this matter. The Company believes it has meritorious defenses and intends to defend itself vigorously in this matter.
Adeia Media Holdings Inc. vs. FuboTV Inc.
On July 1, 2026, Adeia Media Holdings Inc (“Adeia”) filed a complaint against the Company in the District of Delaware alleging that the Company infringes four of Adeia’s patents in connection with the Company’s streaming services, and seeking damages and injunctive relief. On July 20, 2026, Adeia and the Company jointly filed a stipulation and proposed order extending the Company’s deadline to respond to the complaint from July 22, 2026 to September 21, 2026. On July 20, 2026, the court entered an order granting the stipulated extension and setting September 21, 2026 as the new deadline for the Company to respond.
At this time, the Company cannot predict the outcome or provide a reasonable estimate or range of estimates of the possible outcome or loss, if any, with respect to this matter. The Company believes it has meritorious defenses and intends to defend itself vigorously in this matter.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2026
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
John Janedis [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement On June 15, 2026, John Janedis, the Company's Chief Financial Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 25,088 shares of the Company’s common stock until December 31, 2026.
Name John Janedis
Title Chief Financial Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date June 15, 2026
Expiration Date December 31, 2026
Arrangement Duration 199 days
Aggregate Available 25,088
v3.26.1
Summary of Significant Accounting Policies (Policies)
 9 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Principles of Consolidation Principles of ConsolidationThe Company’s consolidated financial statements include the accounts of the Company and the accounts of the Company’s wholly-owned subsidiaries and its non-wholly owned subsidiaries where the Company has a controlling interest. Effective as of the closing of the Business Combination, the Company is the sole managing member of Newco with control over all of the day-to-day business affairs and decision-making of Newco. As a result, the Company consolidates the financial results of Newco and reports a non-controlling interest representing the economic interest in Newco held by Hulu. All intercompany balances and transactions have been eliminated in consolidation.
Basis of Presentation Basis of Presentation
The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for reporting interim financial information. The consolidated financial statements as of and for the three and nine months ended June 30, 2026 and June 28, 2025 are unaudited; however, in the opinion of management, the consolidated financial statements reflect all adjustments, consisting solely of normal and recurring adjustments, necessary for a fair statement of its financial position, results of operations and cash flows for the periods presented. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year.
The Company has accounted for the acquisition consummated pursuant to the Business Combination Agreement as a reverse acquisition of the Company using the acquisition method of accounting in accordance with GAAP, with the Hulu Live Business treated as the accounting acquirer of the Company. Accordingly, commencing with the Quarterly Report on Form 10-Q for the quarter ended December 31, 2025, filed with the SEC on February 5, 2026, the historical combined carve-out financial statements of the Hulu Live Business are presented as the historical financial statements of the Company. Based on this determination, the financial statements reflect the Hulu Live Business's acquisition of the historical Fubo business as of the Closing Date, including the recognition of the acquired Fubo business's identifiable assets and liabilities at fair value with the residual recorded as goodwill. 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 financial results and information included herein for the nine month period ended June 30, 2026 reflects (x) the results of the Hulu Live Business prepared on a carve-out basis for the period from September 28, 2025 through October 28, 2025, and excludes Fubo’s results for this period, and (y) the results of combined Fubo and Hulu Live businesses for the period from October 29, 2025 through June 30, 2026. The financial results and information for all historical periods presented herein reflect the results of the Hulu Live Business prepared on a carve-out basis and excludes the results of the historical Fubo business. Therefore, the historical results of the Hulu Live Business are not necessarily comparable to the results of the Company following the Business Combination.
Prior to the closing of the Business Combination, the Hulu Live Business' 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. The Hulu Live Business' most recent fiscal year ended on September 27, 2025.
Reverse Stock Split and Net Loss Per Share
Reverse Stock Split
On March 23, 2026, the Company amended its certificate of incorporation (the "Certificate of Incorporation") in order to effect a 1-for-12 reverse stock split of its Class A Common Stock and Class B Common Stock outstanding (the "Reverse Stock Split"). The Company’s Class A Common Stock began trading on a split-adjusted basis on the New York Stock Exchange at market open on March 24, 2026 under the existing trading symbol "FUBO". As a result of the Reverse Stock Split, every 12 shares of the Company’s Class A Common Stock and Class B Common Stock issued and outstanding were automatically reclassified into one new share of Class A Common Stock or Class B Common Stock, respectively, subject to the treatment of fractional shares as described below, without any action on the part of the holders. The Reverse Stock Split did not affect the number of authorized shares or the par value of the Company's capital stock. No fractional shares were issued in connection with the Reverse Stock Split. Stockholders of the Company's Class A Common Stock who would otherwise have been entitled to receive fractional shares as a result of the Reverse Stock Split were entitled to a cash payment in lieu thereof at a price equal to the fraction of one share to which the stockholder would otherwise be entitled multiplied by the closing price per share of the Class A Common Stock (as adjusted to give effect to the Reverse Stock Split) on the NYSE on March 23, 2026, the last trading day immediately preceding the effective date of the Reverse Stock Split. Proportionate adjustments were made to the exercise or conversion prices and the number of shares underlying the Company’s outstanding equity awards and convertible notes, as applicable, as well as to the number of shares issuable under the Company’s equity incentive plans.
As a result of the Reverse Stock Split, the aggregate par value of the issued common stock was reduced by reclassifying the par value amount of the eliminated shares of common stock to “Additional paid-in capital” in the Company's Consolidated Balance Sheets and Consolidated Statements of Changes in Shareholders’ Equity. All historical share and per-share amounts reflected throughout the Condensed Consolidated Financial Statements and Notes to the Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q have been retroactively adjusted to reflect the Reverse Stock Split as if the Reverse Stock Split occurred as of the earliest period presented.
Net Loss Per Share
Net loss per basic share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various other assumptions it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. Those estimates and assumptions include allocating the fair value of purchase consideration to assets acquired and liabilities assumed in business acquisitions, useful lives of intangible assets, recoverability of goodwill and intangible assets, equity instruments issued in share-based payment arrangements, and accounting for income taxes, including the valuation allowance on deferred tax assets.
Segment and Reporting Unit Information
Segment and Reporting Unit Information
Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is determined to be the CODM. The CODM reviews financial information and makes resource allocation decisions at the consolidated group level. The Company has one operating segment and one reporting unit, the streaming business. The Company has concluded that consolidated net income (loss) is the measure of segment profitability. There are no other expense categories regularly provided to the CODM that are not already included in the condensed consolidated statements of operations and comprehensive loss.
Substantially all of the tangible long-lived assets are located in the United States.
Cash and Cash Equivalents and Restricted Cash
Cash and Cash Equivalents and Restricted Cash
The Company considers all highly liquid investments with remaining maturities at the date of purchase of three months or less to be cash equivalents, including balances held in the Company’s money market accounts. Restricted cash primarily represents cash on deposit with financial institutions in support of a letter of credit outstanding in favor of the Company’s landlord for office space. The restricted cash balance has been excluded from the cash balance and is classified as restricted cash on the consolidated balance sheets.
Certain Risks and Concentrations
Certain Risks and Concentrations
Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of demand deposits and accounts receivable. The Company maintains cash deposits with financial institutions that at times exceed applicable insurance limits.
Fair Value Estimates
Fair Value Estimates
The carrying amounts of the Company’s financial assets and liabilities, such as cash, other assets, accounts payable and accrued payroll, approximate their fair values because of the short maturity of these instruments. The carrying amounts of long-term borrowings approximate their fair values due to the relatively short-term maturity and the fact that the effective interest rates on these obligations are comparable to market interest rates for instruments of similar credit risk.
Fair Value of Financial Instruments
Fair Value of Financial Instruments
The Company records its financial assets and liabilities at fair value. Fair value is determined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the reporting date. Fair value is estimated by applying inputs which are classified into the following levels of a three-tier hierarchy as follows:
Level 1 —    quoted prices (unadjusted) in active markets for identical assets or liabilities;
Level 2 —    observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and
Level 3 —    assets and liabilities whose significant value drivers are unobservable.
Accounts Receivable, Net
Accounts Receivable, Net
The Company records accounts receivable at the invoiced amount less an allowance for any potentially uncollectible accounts. The Company’s accounts receivable balance primarily consists of amounts due from the sale of advertisements and subscription revenue. In evaluating our ability to collect outstanding receivable balances, we consider many factors, including the age of the balance, collection history, and current economic trends. Bad debts are written off after all collection efforts have ceased. Based on the Company’s current and historical collection experience, management concluded that an allowance for credit losses was not necessary as of June 30, 2026 and September 27, 2025.
Property and Equipment, Net
Property and Equipment, Net
Property and equipment is stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are depreciated over the shorter of the lease term or the estimated useful life of the assets. When assets are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of operations and comprehensive loss in the period realized. Maintenance and repairs are expensed as incurred.
Licensed Content
Licensed Content
The Company entered into various license agreements to obtain rights to certain live sports events. Costs incurred in acquiring certain rights to live sporting events are accounted for in accordance with ASC 920, Entertainment—Broadcasters. These program rights are recorded in subscriber related expenses in a manner consistent with how it expects to monetize the licensed content, which is primarily based on subscription revenue.
Cash flows for licensed content are presented within operating activities in the consolidated statements of cash flows.
Impairment Testing of Long-Lived Assets
Impairment Testing of Long-Lived Assets
The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that their net book value may not be recoverable. When such factors and circumstances exist, the Company compares the projected undiscounted future cash flows associated with the related asset or group of assets over their estimated useful lives against their respective carrying amount. Impairment, if any, is based on the excess of the carrying amount over the fair value and is recorded in the period in which the determination is made. Fair value is based on those assets' market value when available or discounted expected cash flows.
Goodwill
Goodwill
The Company tests goodwill for impairment at the reporting unit level on an annual basis on July 1 for each fiscal year or more frequently if events or changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. The Company assesses qualitative factors to determine whether it is more likely than not that the fair value of a single reporting unit is less than its carrying amount. If it is determined that the fair value is less than its carrying amount, the excess of the goodwill carrying amount over the implied fair value is recognized as an impairment loss. As discussed in Note 7, the Company conducted a quantitative interim impairment test of its goodwill as of March 31, 2026 and concluded no impairment was warranted.
Intangible Assets, Net
Intangible Assets, Net
The Company’s intangible assets represent definite lived intangible assets, which are being amortized on a straight-line basis over their estimated useful lives as follows:
Useful Life
(Years)
Trade names8
Customer relationships - streaming
2
Customer relationships - advertising
2
Capitalized internal use software3
Developed technology5
Software licenses5
We capitalize qualifying development costs associated with software that is developed or obtained for internal use, provided that management with the relevant authority authorizes and commits to the funding of the project, it is probable the project will be completed and the software will be used to perform the function intended. Capitalized costs, including costs incurred for enhancements that are expected to result in additional significant functionality are capitalized and amortized on a straight-line basis over the estimated useful life, which approximates three years. Costs related to preliminary project activities and post-implementation operation activities, including training and maintenance, are expensed as incurred.
Leases
Leases
The Company accounts for its leases under ASC 842, Leases. Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the consolidated balance sheets as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term.
In calculating the right-of-use asset and lease liability, the Company elects to combine lease and non-lease components. The Company also elected not to include short term leases having initial terms of 12 months or less in its right-of-use asset and lease liabilities and recognizes rent expense for these short-term leases on a straight-line basis over the lease term.
Redeemable Non-controlling Interest
Redeemable Non-controlling Interest
Redeemable non-controlling interest is evaluated by the Company and shown as mezzanine equity (shown between liabilities and equity) on the condensed consolidated balance sheets. Redeemable non-controlling interest is measured at their redemption values at the end of each reporting period.
Revenue from Contracts with Customers
Revenue from Contracts with Customers
The Company recognizes revenue from contracts with customers under ASC 606, Revenue from Contracts with Customers (the “revenue standard”). The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service.
The Company generates revenue from the following sources:
1.Subscriptions – The Company sells various subscription plans for the Fubo Services through its website and third-party app stores. These subscription plans provide different levels of streamed content and functionality depending on the plan selected. Subscription fees are fixed and paid in advance by credit card primarily on a monthly basis. A subscription customer executes a contract by agreeing to the Company’s terms of service. The Company considers the subscription contract legally enforceable once the customer has accepted terms of service and the Company has received credit card authorization from the customer’s credit card company. The terms of service allow customers to terminate the subscription at any time, however, in the event of termination, no prepaid subscription fees are refundable. The Company recognizes revenue when it satisfies a performance obligation by transferring control of the promised services to the customers, which is ratably over the subscription period. Upon the customer agreeing to the Company’s terms and conditions and authorization of the credit card, the customer simultaneously receives and consumes the benefits of the streamed content ratably throughout the term of the contract. Subscription services sold through third-party app stores are recorded gross in revenue with fees to the third-party app stores recorded in subscriber related expenses in the consolidated statement of operations and comprehensive loss. Management concluded that the customers are the end user of the subscription services sold by these third-party app stores.
2.Related party revenue – Pursuant to the Commercial Agreement with Hulu, for the Hulu Live Service, the Company receives a wholesale fee from Hulu initially equal to 95% of carriage fee expenses incurred by the Hulu Live Business for calendar year 2025 and 2026, escalating to 97.5% in calendar year 2027 and 99% in calendar year 2028 and thereafter. The wholesale fee prior to the Closing Date is presented as 100% of carriage fee expenses incurred by the Hulu Live Business.
3.Advertising – Pursuant to the Commercial Agreement with Hulu, certain affiliates of Disney exclusively sell ads on behalf of the Company for the Fubo Services and Hulu Live Service and remit 100% of the revenue to the Company, net of a 15% ad agency fee. The Company recognizes revenue at a point in time when a performance obligation has been satisfied by transferring control of the promised services to the advertiser, which generally is when the advertisement has been displayed.
4.Other revenue – Other revenue consists of distribution fees, commissions, and carriage fees earned on sales through channel distribution platforms for the Fubo Services and Hulu Live Service. The Company recognizes revenue at a point in time when it satisfies a performance obligation by transferring control of the promised services to the customers.
Revenue from third parties (all revenues excluding related party revenue) was 27.9% and 27.2% of the Company's revenue for the three and nine months ended June 30, 2026, respectively, and is 0.3% and 0.3% for the three and nine months ended June 28, 2025, respectively. The Company's revenues are therefore subject to significant concentration risk.
Subscriber Related Expenses
Subscriber Related Expenses
Subscriber related expenses consist primarily of affiliate distribution rights and other distribution costs related to content streaming. The cost of affiliate distribution rights is generally incurred on a per subscriber basis and is recognized when the related programming is distributed to subscribers. Subscriber related expenses also include credit card and payment processing fees for subscription revenue, customer service, certain employee compensation and benefits, cloud computing, streaming, and facility costs. The Company receives advertising spots from television networks for sale to advertisers as part of the affiliate distribution agreements.
Broadcasting and Transmission
Broadcasting and Transmission
Broadcasting and transmission expenses are charged to operations as incurred and consist primarily of the cost to acquire a signal, transcode, store, and retransmit it to the subscriber.
Sales and Marketing
Sales and Marketing
Sales and marketing expenses for the Fubo Services consist of payroll and related costs, benefits, rent and utilities, stock-based compensation, agency costs, advertising campaigns and branding initiatives.
Pursuant to the Commercial Agreement with Hulu, the Company bears all marketing expenses of the Hulu Live Business and will pay Hulu a marketing support fee equal to 10% of the Hulu Live Business’s marketing budget, which marketing budget must be at least equal to 0.7% of revenues of the Hulu Live Business. In exchange for the fee, Hulu will be responsible for marketing execution for the Hulu Live Service in consultation with the Company. The Company also pays Hulu a brand license fee equal to 1.0% of the revenues of the Hulu Live Business.
All sales and marketing costs are expensed as they are incurred.
Technology and Development
Technology and Development
Technology and development expenses are charged to operations as incurred. Technology and development expenses consist primarily of payroll and related costs, benefits, rent and utilities, stock-based compensation, technical services, software expenses, and hosting expenses.
General and Administrative
General and Administrative
General and administrative expenses consist primarily of payroll and related costs, benefits, rent and utilities, stock-based compensation, corporate insurance, office expenses, professional fees, as well as travel, meals, and entertainment costs.
Stock-Based Compensation
Stock-Based Compensation
The Company accounts for the fair value of restricted stock units using the closing market price of its common stock on the date of the grant. These restricted stock units generally vest annually over one-year (in the case of annual grants to directors) to four-year (in the case of grants to employees) periods, subject to the recipient’s continuation in service through each applicable vesting date.
The Company accounts for share-based payment awards exchanged for services at the estimated grant date fair value of the award. Stock options issued under the Company’s long-term incentive plans are granted with an exercise price equal to no less than the market price of the Company’s stock at the date of grant and expire up to ten years from the date of grant. These options generally vest annually over four-year periods, subject to the recipient’s continuation in service through each applicable vesting date.
Income Taxes
Income Taxes
The Company accounts for income taxes under the asset and liability method, in which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is required to the extent any deferred tax assets may not be realizable.
ASC Topic 740, Income Taxes, (“ASC 740”), also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim period, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s consolidated financial statements. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in material changes to its financial position.
In connection with the Business Combination Agreement, the Company, Newco and Hulu entered into a Tax Receivables Agreement (the “TRA”) which, among other things, obligates the Company to pay Hulu (a) a percentage of the benefit realized from the use of certain historic net operating loss carryforwards (“NOLs”) in an amount equal to the lesser of (i) 70% and (ii) Hulu’s ownership percentage of Newco as of the date the NOL is utilized, and (b) 70% of (i) the total tax benefit that the Company realizes as a result of increases in tax basis in Newco’s assets resulting from future redemptions or exchanges of Newco Units for Class A Common Stock (or cash), and (ii) certain other tax benefits attributable to payments made under the TRA. The Company does not expect to use any historical NOLs during the fiscal year ending September 30, 2026. Thus, no TRA liability has been recorded on the condensed consolidated balance sheet as of June 30, 2026.
Foreign Currency
Foreign Currency
The Company’s reporting currency is the U.S. dollar while the functional currencies of non-U.S. subsidiaries are determined based on the primary economic environment in which the subsidiary operates. The financial statements of non-U.S. subsidiaries are translated into United States dollars in accordance with ASC 830, Foreign Currency Matters, using period-end rates of exchange for assets and liabilities, and average rates of exchange for the period for revenues, costs, and expenses and historical rates for equity. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining other comprehensive income (loss).
Recent Accounting Pronouncements
Recent Accounting Pronouncements
Recently Issued Accounting Standards
In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740): Improvements to Income Tax Disclosures, requires incremental disclosures within the income tax disclosures that increase the transparency and usefulness of income tax disclosures. The updated disclosures primarily require specific categories and greater disaggregation within the rate reconciliation, disaggregation of income taxes paid, and modifications of other income tax-related disclosures. The new guidance is applicable for annual periods beginning with the Company's fiscal year ending September 30, 2026.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses and in January 2025, the FASB issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. This standard requires public companies to disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. The new standard, as clarified by ASU 2025-01, is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently in the process of evaluating the effects of the new guidance.
In November 2024, the FASB issued ASU 2024-04, Debt-Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. This standard clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. It is effective for fiscal years beginning after December 15, 2025 and is permitted on either a prospective or retrospective basis. The Company is currently in the process of evaluating the effects of the new guidance.
In May 2025, the FASB issued ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810). This update improves the requirements for identifying the accounting acquirer in Topic 805, particularly in improving the comparability between transactions involving VIEs and those not involving VIEs. The amendments require that an entity consider the same factors that are currently required for determining which entity is the accounting acquirer in other transactions. It is effective for fiscal periods beginning after December 15, 2026 and interim reporting periods within those annual reporting periods. The Company is currently in the process of evaluating the effects of the new guidance.
In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326). This update introduces a practical expedient for all entities and an accounting policy election other than public business entities related to applying Subtopic 326-20 to current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. It is effective for fiscal years beginning after December 15, 2025 and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently in the process of evaluating the effects of the new guidance.
In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal Use Software (Subtopic 350-40). This update is intended to modernize the accounting software costs that are accounted for under Subtopic 350-40. It is effective for fiscal years beginning after December 15, 2027 and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently in the process of evaluating the effects of the new guidance.
In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies the guidance in Topic 270 to improve the navigability of required interim financial disclosures. This guidance provides a comprehensive list of interim disclosures required by GAAP and includes a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years, with early adoption permitted. The Company is currently in the process of evaluating the effects of the new guidance.
v3.26.1
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Schedule of Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset The following table presents total revenue for the operating segment (in thousands):
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
United States$1,466,395 $1,073,795 $4,562,033 $3,305,263 
Rest of world15,319 — 42,236 — 
Total revenue$1,481,714 $1,073,795 $4,604,269 $3,305,263 
Schedule of Restrictions on Cash and Cash Equivalents
The following table provides a reconciliation of cash and cash equivalents and restricted cash within the consolidated balance sheets that sum to the total of the same on the consolidated statement of cash flows (in thousands):
June 30, 2026September 27, 2025
Cash and cash equivalents$230,283 $— 
Restricted cash6,145 — 
Total cash, cash equivalents and restricted cash$236,428 $— 
Schedule of Property and Equipment, Net The Company’s property and equipment, net are being depreciated over their estimated useful lives as follows:
Useful Life
(Years)
Furniture and fixtures5
Computer equipment
3-5
Leasehold improvementsTerm of lease
The table below summarizes the Company’s property and equipment, net (in thousands):
Useful Life
(Years)		June 30, 2026September 27, 2025
Furniture and fixtures5$409 $— 
Computer equipment
3-5
3,810 — 
Leasehold improvementsTerm of lease2,522 — 
6,741 — 
Less: Accumulated depreciation(1,023)— 
Total property and equipment, net$5,718 $— 
Schedule of Intangible Assets Estimated Useful Life
The Company’s intangible assets represent definite lived intangible assets, which are being amortized on a straight-line basis over their estimated useful lives as follows:
Useful Life
(Years)
Trade names8
Customer relationships - streaming
2
Customer relationships - advertising
2
Capitalized internal use software3
Developed technology5
Software licenses5
Schedule of Earnings Per Share, Basic and Diluted
The following table presents the calculation of basic net loss per share (in thousands, except shares and per share data):
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Numerator:
Net loss$(25,711)$(38,019)$(50,981)$(117,520)
Less: net loss attributable to non-controlling interest
17,487 — 34,680 — 
Net loss attributable to common shareholders
(8,224)(38,019)(16,301)(117,520)
Denominator:
Weighted-average common shares outstanding32,758,090 — 31,055,542 — 
Basic and diluted net loss per share$(0.25)$(0.52)
Schedule of Antidilutive Securities Excluded from Computation of Earnings per Share
The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive:
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Stock options1,298,979 — 1,298,979 — 
Unvested restricted stock units2,873,005 — 2,873,005 — 
Convertible notes variable settlement feature3,855,540 — 3,855,540 — 
Total8,027,524 — 8,027,524 — 
v3.26.1
Business Combination (Tables)
 9 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the final purchase price allocation to the identifiable assets acquired and liabilities assumed as of the Closing Date (in thousands):
Fair value of consideration transferred$1,347,599 
Estimated fair value of assets acquired and liabilities assumed:
Cash and cash equivalents261,909 
Accounts receivable, net77,715 
Prepaid sports rights25,978 
Prepaid and other current assets19,569 
Property and equipment5,698 
Restricted cash6,148 
Intangible assets456,193 
Right-of-use assets34,301 
Other non-current assets11,816 
Accounts payable, accrued expenses, and other current liabilities(340,072)
Deferred revenue(99,575)
Convertible notes - current(144,765)
Long-term borrowings - current portion(696)
Lease liabilities - current
(2,799)
Convertible notes - non-current
(237,379)
Deferred tax liabilities
(1,211)
Lease liabilities - non-current
(31,502)
Other long-term liabilities(11,977)
Total estimated fair value of net assets acquired29,351 
Estimated goodwill1,318,248 
Schedule of Business Combination, Pro Forma Information
The following table presents the unaudited pro forma results of operations as if the Business Combination had occurred as of October 1, 2024:
Three Months EndedNine Months Ended
June 28, 2025June 30, 2026June 28, 2025
Pro forma revenue
$1,483,785 $4,738,701 $4,636,540 
Pro forma net (loss) income
$(71,970)$(78,305)$(81,773)
v3.26.1
Revenue from Contracts with Customers (Tables)
 9 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregated Revenue The following tables summarize subscription revenue and advertising revenue by region:
Subscription and Advertising
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
United States and Canada (North America)$401,560 $— $1,219,772 $— 
Rest of world7,787 — 21,914 — 
Total subscription and advertising revenues
$409,347 $— $1,241,686 $— 
v3.26.1
Property and Equipment, Net (Tables)
 9 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Schedule of Property and Equipment, Net The Company’s property and equipment, net are being depreciated over their estimated useful lives as follows:
Useful Life
(Years)
Furniture and fixtures5
Computer equipment
3-5
Leasehold improvementsTerm of lease
The table below summarizes the Company’s property and equipment, net (in thousands):
Useful Life
(Years)		June 30, 2026September 27, 2025
Furniture and fixtures5$409 $— 
Computer equipment
3-5
3,810 — 
Leasehold improvementsTerm of lease2,522 — 
6,741 — 
Less: Accumulated depreciation(1,023)— 
Total property and equipment, net$5,718 $— 
v3.26.1
Intangible Assets and Goodwill (Tables)
 9 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of Intangible Asset and Goodwill
The tables below summarize the Company’s intangible assets (in thousands):
Useful
Life
(Years)		Weighted
Average
Remaining
Life
(Years)		June 30, 2026
Intangible AssetsAccumulated Amortization Net Balance
Trade names87.3112,400 (9,367)103,033 
Customer relationships - streaming21.3145,600 (48,533)97,067 
Customer relationships - advertising21.319,800 (6,600)13,200 
Capitalized internal use software31.728,266 (9,230)19,036 
Developed technology
54.3155,000 (20,667)134,333 
Software licenses
52.43,171 (704)2,467 
Total$464,237 $(95,101)$369,136 
Schedule of Estimated Future Amortization Expense
The estimated future amortization expense associated with intangible assets, net is as follows (in thousands):
Fiscal Year Ending September 30,
Future Amortization
2026$35,793 
2027137,843 
202857,934 
202946,574 
203045,088 
Thereafter45,904 
Total$369,136 
Schedule of Goodwill
The following table is a summary of the changes to goodwill for the nine months ended June 30, 2026 (in thousands):
Balance - September 27, 2025$1,296,000 
Fubo purchase accounting
1,318,248 
Balance - June 30, 2026
$2,614,248 
v3.26.1
Accounts Payable, Accrued Expenses, Related party and Other Long-term Liabilities (Tables)
 9 Months Ended
Jun. 30, 2026
Payables and Accruals [Abstract]  
Schedule of Accounts Payable and Accrued Liabilities
Accounts payable, accrued expenses, related party current liabilities and other long-term liabilities are presented below (in thousands):
June 30, 2026September 27, 2025
 Affiliate fees $719,650 $387,329 
 Broadcasting and transmission 7,371 — 
 Selling and marketing 36,620 — 
 Accrued compensation 8,290 — 
 Legal and professional fees 3,828 — 
 Income tax payable
1,823 — 
 Sales tax 18,302 — 
 Guaranteed liabilities
9,994 — 
 Accrued interest 5,249 — 
 Subscriber related 2,474 — 
 Other 8,830 — 
Total$822,431 $387,329 
v3.26.1
Income Taxes (Tables)
 9 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation
The following table presents income tax provision for income taxes (in thousands, except for effective tax rate):
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Income tax provision(728)— (1,438)— 
Effective tax rate (2.91)%— %(2.90)%— %
v3.26.1
Debt (Tables)
 9 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt
The Company's debt consists of the following (in thousands, except stated interest rate):
NoteStated Interest RatePrincipal Balance
Debt Premium
June 30,
2026
2029 Convertible Notes7.5%$177,506 $47,447 $224,953 
Note payable - related party
4.2%145,000 145,000 
Long-term borrowings - current portion
2.25%342 — 342 
v3.26.1
Fair Value Measurements (Tables)
 9 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurements on Recurring Basis
The Company’s assets measured at fair value on a recurring basis consisted of the following (in thousands):
Fair value measured at June 30, 2026
Quoted
prices in
active
markets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)		Total
Financial assets at fair value:
Cash and cash equivalents
Money market securities and time deposits$206,725 $— $— $206,725 
Total financial assets at fair value$206,725 $— $— $206,725 
v3.26.1
Equity-Based Compensation (Tables)
 9 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Stock-based Compensation Expense
The Company recognized stock-based compensation expense as follows (in thousands):
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Subscriber related expenses$66 $— $180 $— 
Sales and marketing2,422 — 7,774 — 
Technology and development2,213 — 6,779 — 
General and administrative4,776 — 17,626 — 
Total stock-based compensation expense
$9,477 $— $32,359 $— 
Schedule of of Stock Option Activity
A summary of time-based stock option activity for the nine months ended June 30, 2026 is as follows (in thousands, except share and per share amounts):
Number of Shares Weighted Average
Exercise Price		Total Intrinsic ValueWeighted Average Remaining
Contractual Life
(Years)
Outstanding as of September 27, 2025— $— $— N/A
Assumed from Fubo655,138 $90.56 $2,755 3.9
Exercised(13,719)$7.51 
Forfeited or expired(55,216)$122.70 
Outstanding as of June 30, 2026
586,203 $89.48 $2 3.9
Options vested and exercisable as of June 30, 2026
572,949 $91.21 $2 3.5
A summary of activity under the 2020 Plan for market and service-based stock options for the nine months ended June 30, 2026 is as follows (in thousands, except share and per share amounts):
Number of SharesWeighted Average
Exercise Price		Total Intrinsic ValueWeighted Average Remaining
Contractual Life
(Years)
Outstanding as of September 27, 2025— $— $— N/A
Assumed from Fubo
371,110 $153.00 $— 1.8
Outstanding as of June 30, 2026
371,110 $153.00 $— 1.2
Options vested and exercisable as of June 30, 2026
371,110 $153.00 $— 1.2
Schedule of Nonvested Restricted Stock Units Activity
A summary of the Company’s time-based restricted stock unit activity during the nine months ended June 30, 2026 is as follows:
Number of Shares Weighted Average Grant-Date
Fair Value
Unvested at September 27, 2025— N/A
Assumed from Fubo
2,887,103 $31.18 
Granted371,167 $43.85 
Vested(881,843)$36.23 
Forfeited or expired(70,696)$29.35 
Unvested at June 30, 2026
2,305,731 $31.34 
A summary of the Company’s performance-based restricted stock unit activity during the nine months ended June 30, 2026 is as follows:
Number of SharesWeighted Average Grant-Date
 Fair Value
Unvested at September 27, 2025— N/A
Assumed from Fubo
357,915 $58.14 
Granted129,689 $44.28 
Vested(29,062)$37.75 
Unvested at June 30, 2026458,542 $55.51 
A summary of the Company’s market and service-based restricted stock unit activity during the nine months ended June 30, 2026 is as follows:
Number of SharesWeighted Average Grant-Date
 Fair Value
Unvested at September 27, 2025— N/A
Assumed from Fubo
108,732 $33.76 
Unvested at June 30, 2026108,732 $33.76 
v3.26.1
Commitments and Contingencies (Tables)
 9 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Components of Lease Expense
The components of lease expense were as follows (in thousands):
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Operating leases
Operating lease cost$1,324 $— $3,530 $— 
Other lease cost80 — 253 — 
Operating lease expense1,404 — 3,783 — 
Short-term lease rent expense944 — 2,396 — 
Total rent expense$2,348 $— $6,179 $— 
Schedule of Supplemental Cash Flow Information Related to Leases
Supplemental cash flow information related to leases were as follows (in thousands, except term and discount rate):
Three Months EndedNine Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Operating cash flows from operating leases$1,233 $— $3,289 $— 
Right of use assets exchanged for operating lease liabilities assumed from Fubo
$— $— $34,301 $— 
Weighted average remaining lease term - operating leases9.2N/A9.2N/A
Weighted average discount rate - operating leases
6.8 %N/A6.8 %N/A
Schedule of Future Minimum Payments for the Operating Leases
As of June 30, 2026, future minimum payments for the operating leases are as follows (in thousands):
Fiscal Year Ending September 30,Future payments
2026$1,234 
20274,967 
20284,400 
20294,403 
20304,403 
Thereafter24,031 
Total43,438 
Less present value discount(10,993)
Operating lease liabilities$32,445 
Schedule of Other Contractual Obligations
The Company is a party to several non-cancelable contracts with vendors and licensors for marketing and other strategic partnership related agreements and various sports right agreements to obtain programming rights to certain live sporting events where the Company is obligated to make future payments under these contracts as follows (in thousands):
Fiscal Year Ending September 30, Future payments
2026$19,098 
202728,002 
20288,808 
20293,563 
20303,613 
Thereafter6,438 
Total$69,522 
v3.26.1
Organization and Nature of Business (Details) - $ / shares
 9 Months Ended
Jun. 30, 2026
Sep. 27, 2025
Organization, Consolidation and Presentation of Financial Statements [Line Items]    
Carriage fee expenses, percentage year one 95.00%  
Carriage fee expenses, percentage year two 95.00%  
Carriage fee expenses, percentage year three 97.50%  
Carriage fee expenses, percentage year four 99.00%  
Debt instrument, term 5 years  
Debt instrument, additional extension term 5 years  
Newco    
Organization, Consolidation and Presentation of Financial Statements [Line Items]    
Equity method investment, ownership percentage 30.00%  
Newco | Hulu Live LLC    
Organization, Consolidation and Presentation of Financial Statements [Line Items]    
Business acquisition, percentage of voting interests acquired 100.00%  
Newco | Fubo OpCo    
Organization, Consolidation and Presentation of Financial Statements [Line Items]    
Business acquisition, percentage of voting interests acquired 100.00%  
Newco | Newco    
Organization, Consolidation and Presentation of Financial Statements [Line Items]    
Business acquisition, percentage of voting interests acquired 70.00%  
Newco | Fubo TV Inc    
Organization, Consolidation and Presentation of Financial Statements [Line Items]    
Business acquisition, percentage of voting interests acquired 70.00%  
Common Class A    
Organization, Consolidation and Presentation of Financial Statements [Line Items]    
Common stock, par or stated value (in usd per share) $ 0.0001 $ 0.0001
Common Class B    
Organization, Consolidation and Presentation of Financial Statements [Line Items]    
Common stock, par or stated value (in usd per share) $ 0.0001 $ 0.0001
v3.26.1
Summary of Significant Accounting Policies - Narrative (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Mar. 23, 2026
shares
Jun. 30, 2026
USD ($)
Jun. 28, 2025
Jun. 30, 2026
USD ($)
segment
Jun. 28, 2025
Sep. 30, 2027
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2024
Product Information [Line Items]                  
Number of fractional shares (in shares) | shares 0                
Number of operating segments       1          
Number of reporting units       1          
Percentage of carriage fee expenses               95.00% 100.00%
Percentage of remit revenue   100.00%   100.00%          
Percentage of agent fee   15.00%   15.00%          
Percentage of revenue from related parties   27.90% 0.30% 27.20% 0.30%        
Percentage of marketing support fee equal to marketing budget       10.00%          
Percentage of marketing support fee at least equal to revenues       0.70%          
Percentage of brand license fee       1.00%          
Tax receivable agreement, percentage of tax benefits due to equity owners   70.00%   70.00%          
Tax receivable agreement liability | $   $ 0.0   $ 0.0          
Forecast                  
Product Information [Line Items]                  
Percentage of carriage fee expenses           99.00% 97.50%    
Minimum                  
Product Information [Line Items]                  
Award vesting period       1 year          
Maximum                  
Product Information [Line Items]                  
Award vesting period       4 years          
Award expiration period       10 years          
Common Class B                  
Product Information [Line Items]                  
Stockholders' equity note, stock split, conversion ratio 0.0833                
Common Class A                  
Product Information [Line Items]                  
Stockholders' equity note, stock split, conversion ratio 0.0833                
v3.26.1
Summary of Significant Accounting Policies - Revenue for Operating Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Property, Plant, and Equipment [Line Items]        
Total revenue $ 1,481,714 $ 1,073,795 $ 4,604,269 $ 3,305,263
United States        
Property, Plant, and Equipment [Line Items]        
Total revenue 1,466,395 1,073,795 4,562,033 3,305,263
Rest of world        
Property, Plant, and Equipment [Line Items]        
Total revenue $ 15,319 $ 0 $ 42,236 $ 0
v3.26.1
Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Sep. 27, 2025
Accounting Policies [Abstract]    
Cash and cash equivalents $ 230,283 $ 0
Restricted cash 6,145 0
Total cash, cash equivalents and restricted cash $ 236,428 $ 0
v3.26.1
Summary of Significant Accounting Policies - Property and Equipment, Net (Details)
Jun. 30, 2026
Furniture and fixtures  
Property, Plant, and Equipment [Line Items]  
Useful Life (Years) 5 years
Computer equipment | Minimum  
Property, Plant, and Equipment [Line Items]  
Useful Life (Years) 3 years
Computer equipment | Maximum  
Property, Plant, and Equipment [Line Items]  
Useful Life (Years) 5 years
v3.26.1
Summary of Significant Accounting Policies - Schedule of Intangible Assets Estimated Useful Life (Details)
Jun. 30, 2026
Trade names  
Intangible Asset, Finite-Lived [Line Items]  
Useful Life (Years) 8 years
Customer relationships - streaming  
Intangible Asset, Finite-Lived [Line Items]  
Useful Life (Years) 2 years
Customer relationships - advertising  
Intangible Asset, Finite-Lived [Line Items]  
Useful Life (Years) 2 years
Capitalized internal use software  
Intangible Asset, Finite-Lived [Line Items]  
Useful Life (Years) 3 years
Developed technology  
Intangible Asset, Finite-Lived [Line Items]  
Useful Life (Years) 5 years
Software licenses  
Intangible Asset, Finite-Lived [Line Items]  
Useful Life (Years) 5 years
v3.26.1
Summary of Significant Accounting Policies - Calculation of Basic and Diluted Net (Income) Loss Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Numerator:        
Net loss $ (25,711) $ (38,019) $ (50,981) $ (117,520)
Less: net loss attributable to non-controlling interest 17,487 0 34,680 0
Net loss attributable to common shareholders $ (8,224) $ (38,019) $ (16,301) $ (117,520)
Denominator:        
Weighted-average common shares outstanding - basic (in shares) 32,758,090 0 31,055,542 0
Net loss per share - basic (in usd per share) $ (0.25) $ 0 $ (0.52) $ 0
Net loss per share - diluted (in usd per share) $ (0.25) $ 0 $ (0.52) $ 0
v3.26.1
Summary of Significant Accounting Policies - Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares
 3 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share, amount (in shares) 8,027,524 0 8,027,524 0
Stock options        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share, amount (in shares) 1,298,979 0 1,298,979 0
Unvested restricted stock units        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share, amount (in shares) 2,873,005 0 2,873,005 0
Convertible notes variable settlement feature        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share, amount (in shares) 3,855,540 0 3,855,540 0
v3.26.1
Liquidity, Going Concern and Management Plans (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jan. 14, 2026
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Feb. 15, 2026
Jan. 05, 2026
Sep. 27, 2025
Short-term Debt [Line Items]                
Cash, cash equivalents, restricted cash, and restricted cash equivalents   $ 236,428   $ 236,428       $ 0
Working capital (deficit)   4,000   4,000        
Retained earnings (accumulated deficit)   (16,301)   (16,301)       $ 0
Net loss   $ 25,711 $ 38,019 $ 50,981 $ 117,520      
Senior unsecured term loan commitment indebtedness             $ 145,000  
Debt interest rate             4.20%  
Debt instrument, repurchase amount           $ 4,600    
2026 Convertible notes                
Short-term Debt [Line Items]                
Debt principal amount $ 140,200              
Debt interest rate 3.25%              
Redemption price, percentage 100.00%              
v3.26.1
Business Combination - Narrative (Details) - Fubo Business
$ in Thousands
Oct. 29, 2025
USD ($)
shares
Business Combination [Line Items]  
Fair value of consideration transferred $ 1,347,599
Business combination, consideration transferred, equity interests issued and issuable $ 82,900
Common Class A  
Business Combination [Line Items]  
Business acquisition, equity interest issued or issuable, number of shares | shares 28,560,344
Business combination, consideration transferred, equity interests issued and issuable $ 1,264,700
v3.26.1
Business Combination - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
Oct. 29, 2025
Jun. 30, 2026
Sep. 27, 2025
Business Combination [Line Items]      
Estimated goodwill   $ 2,614,248 $ 1,296,000
Fubo Business      
Business Combination [Line Items]      
Fair value of consideration transferred $ 1,347,599    
Cash and cash equivalents 261,909    
Accounts receivable, net 77,715    
Prepaid sports rights 25,978    
Prepaid and other current assets 19,569    
Property and equipment 5,698    
Restricted cash 6,148    
Intangible assets 456,193    
Right-of-use assets 34,301    
Other non-current assets 11,816    
Accounts payable, accrued expenses, and other current liabilities (340,072)    
Deferred revenue (99,575)    
Convertible notes - current (144,765)    
Long-term borrowings - current portion (696)    
Lease liabilities - current (2,799)    
Convertible notes - non-current (237,379)    
Deferred tax liabilities (1,211)    
Lease liabilities - non-current (31,502)    
Other long-term liabilities (11,977)    
Total estimated fair value of net assets acquired 29,351    
Estimated goodwill $ 1,318,248    
v3.26.1
Business Combination - Pro Forma Financial Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]      
Pro forma revenue $ 1,483,785 $ 4,738,701 $ 4,636,540
Pro forma net (loss) income $ (71,970) $ (78,305) $ (81,773)
v3.26.1
Revenue from Contracts with Customers - Schedule of Disaggregated Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Disaggregation of Revenue [Line Items]        
Total subscription and advertising revenues $ 1,481,714 $ 1,073,795 $ 4,604,269 $ 3,305,263
Subscription and Advertising        
Disaggregation of Revenue [Line Items]        
Total subscription and advertising revenues 409,347 0 1,241,686 0
Subscription and Advertising | United States        
Disaggregation of Revenue [Line Items]        
Total subscription and advertising revenues 401,560 0 1,219,772 0
Subscription and Advertising | Rest of world        
Disaggregation of Revenue [Line Items]        
Total subscription and advertising revenues $ 7,787 $ 0 $ 21,914 $ 0
v3.26.1
Revenue from Contracts with Customers - Narrative (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Sep. 27, 2025
Revenue from Contract with Customer [Abstract]    
Deferred revenue $ 71,314 $ 0
v3.26.1
Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Sep. 27, 2025
Property, Plant, and Equipment [Line Items]    
Property, plant and equipment, gross $ 6,741 $ 0
Less: Accumulated depreciation (1,023) 0
Total property and equipment, net $ 5,718 0
Furniture and fixtures    
Property, Plant, and Equipment [Line Items]    
Useful Life (Years) 5 years  
Property, plant and equipment, gross $ 409 0
Computer equipment    
Property, Plant, and Equipment [Line Items]    
Property, plant and equipment, gross $ 3,810 0
Computer equipment | Minimum    
Property, Plant, and Equipment [Line Items]    
Useful Life (Years) 3 years  
Computer equipment | Maximum    
Property, Plant, and Equipment [Line Items]    
Useful Life (Years) 5 years  
Leasehold improvements    
Property, Plant, and Equipment [Line Items]    
Property, plant and equipment, gross $ 2,522 $ 0
v3.26.1
Property and Equipment, Net - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Property, Plant, and Equipment [Abstract]        
Depreciation $ 0.4 $ 0.0 $ 1.0 $ 0.0
v3.26.1
Intangible Assets and Goodwill - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
 9 Months Ended
Jun. 30, 2026
Sep. 27, 2025
Intangible Asset, Finite-Lived [Line Items]    
Intangible Assets $ 464,237 $ 0
Accumulated Amortization (95,101)  
Net Balance $ 369,136 $ 0
Trade names    
Intangible Asset, Finite-Lived [Line Items]    
Useful Life (Years) 8 years  
Weighted Average Remaining Life (Years) 7 years 3 months 18 days  
Intangible Assets $ 112,400  
Accumulated Amortization (9,367)  
Net Balance $ 103,033  
Customer relationships - streaming    
Intangible Asset, Finite-Lived [Line Items]    
Useful Life (Years) 2 years  
Weighted Average Remaining Life (Years) 1 year 3 months 18 days  
Intangible Assets $ 145,600  
Accumulated Amortization (48,533)  
Net Balance $ 97,067  
Customer relationships - advertising    
Intangible Asset, Finite-Lived [Line Items]    
Useful Life (Years) 2 years  
Weighted Average Remaining Life (Years) 1 year 3 months 18 days  
Intangible Assets $ 19,800  
Accumulated Amortization (6,600)  
Net Balance $ 13,200  
Capitalized internal use software    
Intangible Asset, Finite-Lived [Line Items]    
Useful Life (Years) 3 years  
Weighted Average Remaining Life (Years) 1 year 8 months 12 days  
Intangible Assets $ 28,266  
Accumulated Amortization (9,230)  
Net Balance $ 19,036  
Developed technology    
Intangible Asset, Finite-Lived [Line Items]    
Useful Life (Years) 5 years  
Weighted Average Remaining Life (Years) 4 years 3 months 18 days  
Intangible Assets $ 155,000  
Accumulated Amortization (20,667)  
Net Balance $ 134,333  
Software licenses    
Intangible Asset, Finite-Lived [Line Items]    
Useful Life (Years) 5 years  
Weighted Average Remaining Life (Years) 2 years 4 months 24 days  
Intangible Assets $ 3,171  
Accumulated Amortization (704)  
Net Balance $ 2,467  
v3.26.1
Intangible Assets and Goodwill - Narrative (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2026
USD ($)
Mar. 31, 2026
USD ($)
Jun. 28, 2025
USD ($)
Jun. 30, 2026
USD ($)
Jun. 28, 2025
USD ($)
Sep. 27, 2025
USD ($)
Intangible Asset, Finite-Lived [Line Items]            
Amortization of intangible assets $ 35,800   $ 0 $ 95,400 $ 0  
Intangible Assets $ 464,237     $ 464,237   $ 0
Reporting unit, percentage of fair value in excess of carrying amount   3.60%        
Goodwill, impairment loss   $ 0        
Measurement Input, Long-Term Revenue Growth Rate            
Intangible Asset, Finite-Lived [Line Items]            
Goodwill, measurement input   0.030        
Minimum            
Intangible Asset, Finite-Lived [Line Items]            
Useful Life (Years) 2 years     2 years    
Maximum            
Intangible Asset, Finite-Lived [Line Items]            
Useful Life (Years) 8 years     8 years    
Weighted Average | Measurement Input, Cost of Capital            
Intangible Asset, Finite-Lived [Line Items]            
Goodwill, measurement input   0.130        
v3.26.1
Intangible Assets and Goodwill - Intangible Assets Amortization Expense (Details)
$ in Thousands
Sep. 30, 2025
USD ($)
Intangible Asset, Goodwill and Other [Abstract]  
2026 $ 35,793
2027 137,843
2028 57,934
2029 46,574
2030 45,088
Thereafter 45,904
Total $ 369,136
v3.26.1
Intangible Assets and Goodwill - Schedule of Goodwill (Details)
$ in Thousands
 9 Months Ended
Jun. 30, 2026
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 1,296,000
Fubo purchase accounting 1,318,248
Ending balance $ 2,614,248
v3.26.1
Accounts Payable, Accrued Expenses, Related party and Other Long-term Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Sep. 27, 2025
Payables and Accruals [Abstract]    
Affiliate fees $ 719,650 $ 387,329
Broadcasting and transmission 7,371 0
Selling and marketing 36,620 0
Accrued compensation 8,290 0
Legal and professional fees 3,828 0
Income tax payable 1,823 0
Sales tax 18,302 0
Guaranteed liabilities 9,994 0
Accrued interest 5,249 0
Subscriber related 2,474 0
Other 8,830 0
Total $ 822,431 $ 387,329
v3.26.1
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Income Tax Disclosure [Abstract]        
Income tax provision $ (728) $ 0 $ (1,438) $ 0
Effective tax rate (2.91%) 0.00% (2.90%) 0.00%
v3.26.1
Income Taxes - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Income Tax Disclosure [Abstract]        
Income tax provision $ (728) $ 0 $ (1,438) $ 0
Effective tax rate 2.91% 0.00% 2.90% (0.00%)
Pre-tax income (loss) $ (24,983) $ (38,019) $ (49,543) $ (117,520)
v3.26.1
Debt - Schedule of Notes Payable and Long-Term Borrowings (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Jan. 05, 2026
Short-term Debt [Line Items]    
Stated Interest Rate   4.20%
2029 Convertible Notes    
Short-term Debt [Line Items]    
Stated Interest Rate 7.50%  
Principal Balance $ 177,506  
Debt Premium 47,447  
Long-term debt, gross $ 224,953  
Note payable - related party    
Short-term Debt [Line Items]    
Stated Interest Rate 4.20%  
Principal Balance $ 145,000  
Debt Premium  
Long-term debt, gross $ 145,000  
Long-term borrowings - current portion    
Short-term Debt [Line Items]    
Stated Interest Rate 2.25%  
Principal Balance $ 342  
Debt Premium 0  
Long-term debt, gross $ 342  
v3.26.1
Debt - Narrative (Details)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Jan. 02, 2025
day
Jan. 02, 2024
USD ($)
day
$ / shares
Jun. 30, 2026
USD ($)
Jun. 30, 2026
USD ($)
Jun. 28, 2025
USD ($)
Jan. 14, 2026
Jan. 05, 2026
USD ($)
Short-term Debt [Line Items]              
Debt interest rate             4.20%
Amortization of debt premium, net       $ (12,438) $ 0    
Senior unsecured term loan commitment indebtedness             $ 145,000
Repayment of convertible notes       144,765 $ 0    
2026 Convertible notes              
Short-term Debt [Line Items]              
Debt interest rate           3.25%  
Interest expense, debt       2,000      
Repayment of convertible notes       $ 144,800      
2026 Convertible notes | Convertible notes              
Short-term Debt [Line Items]              
Convertible notes payable   $ 205,800          
2029 Convertible Notes              
Short-term Debt [Line Items]              
Debt interest rate     7.50% 7.50%      
Debt instrument, convertible, conversion price (in usd per share) | $ / shares   $ 46.04          
Interest expense, debt     $ 0 $ 6,700      
Amortization of debt premium, net     4,700 12,400      
2029 Convertible Notes | Fair Value, Inputs, Level 2              
Short-term Debt [Line Items]              
Convertible notes payable     175,100 175,100      
2029 Convertible Notes | Convertible notes              
Short-term Debt [Line Items]              
Convertible notes payable   $ 177,500          
Shares issued (in shares)   0.0217206          
Debt instrument, convertible, threshold percentage of stock price trigger 200.00% 130.00%          
Debt instrument, convertible, threshold consecutive trading days | day 20 20          
Debt instrument, convertible, threshold consecutive trading day immediately after measurement period | day   5          
Debt instrument, convertible, threshold percentage of notes trading price trigger   98.00%          
Debt instrument, convertible, threshold trading days | day 30            
Debt instrument, convertible, threshold consecutive trading day before notice | day 10            
2029 Convertible Notes | Convertible notes | Debt Instrument, Redemption, Period One              
Short-term Debt [Line Items]              
Debt instrument, convertible, threshold consecutive trading days | day   30          
2029 Convertible Notes | Convertible notes | Base Rate              
Short-term Debt [Line Items]              
Debt interest rate   7.50%          
2029 Convertible Notes | Convertible notes | Paid in Kind              
Short-term Debt [Line Items]              
Debt interest rate   10.00%          
2029 Notes Tender Offer | Convertible notes              
Short-term Debt [Line Items]              
Convertible notes payable     177,500 177,500      
Disney Note              
Short-term Debt [Line Items]              
Interest expense, debt     $ 1,500 $ 2,700      
v3.26.1
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Sep. 27, 2025
Financial assets at fair value:    
Total financial assets at fair value $ 206,725 $ 0
Money Market Funds    
Financial assets at fair value:    
Cash and cash equivalents 206,725  
Fair Value, Inputs, Level 1    
Financial assets at fair value:    
Total financial assets at fair value 206,725  
Fair Value, Inputs, Level 1 | Money Market Funds    
Financial assets at fair value:    
Cash and cash equivalents 206,725  
Fair Value, Inputs, Level 2    
Financial assets at fair value:    
Total financial assets at fair value 0  
Fair Value, Inputs, Level 2 | Money Market Funds    
Financial assets at fair value:    
Cash and cash equivalents 0  
Fair Value, Inputs, Level 3    
Financial assets at fair value:    
Total financial assets at fair value 0  
Fair Value, Inputs, Level 3 | Money Market Funds    
Financial assets at fair value:    
Cash and cash equivalents $ 0  
v3.26.1
Fair Value Measurements - Narrative (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Sep. 27, 2025
Fair Value Disclosures [Abstract]    
Assets, fair value $ 206,725 $ 0
Warrant liability $ 0 $ 0
v3.26.1
Equity-Based Compensation - Schedule of Recognized Stock-Based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based payment arrangement, expense $ 9,477 $ 0 $ 32,359 $ 0
Income Statement Location [Axis]: us-gaap:GeneralAndAdministrativeExpense        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based payment arrangement, expense 4,776 0 17,626 0
Income Statement Location [Axis]: us-gaap:ResearchAndDevelopmentExpense        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based payment arrangement, expense 2,213 0 6,779 0
Income Statement Location [Axis]: us-gaap:SellingAndMarketingExpense        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based payment arrangement, expense 2,422 0 7,774 0
Income Statement Location [Axis]: fubo:SubscriberRelatedExpenses        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based payment arrangement, expense $ 66 $ 0 $ 180 $ 0
v3.26.1
Equity-Based Compensation - Equity Incentive Plans - Narrative (Details)
Jun. 30, 2026
shares
2020 Equity Incentive Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares available for grant (in shares) 1,334,954
2022 Inducement Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares available for grant (in shares) 0
2023 Inducement Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares available for grant (in shares) 0
2024 Inducement Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares available for grant (in shares) 0
2025 Inducement Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares available for grant (in shares) 243,806
v3.26.1
Equity-Based Compensation - Schedule of Stock Option Activity (Details)
$ / shares in Units, $ in Thousands
 9 Months Ended
Jun. 30, 2026
USD ($)
$ / shares
shares
Sep. 27, 2025
USD ($)
Number of Shares    
Outstanding at beginning of period (in shares) | shares 0  
Assumed from Fubo (in shares) | shares 655,138  
Exercised (in shares) | shares (13,719)  
Forfeited or expired (in shares) | shares (55,216)  
Outstanding at end of period (in shares) | shares 586,203  
Options vested and exercisable (in shares) | shares 572,949  
Weighted Average Exercise Price    
Weighted average exercise price, beginning balance (in usd per share) | $ / shares $ 0  
Assumed from Fubo (in usd per share) | $ / shares 90.56  
Exercised (in usd per share) | $ / shares 7.51  
Forfeited or expired (in usd per share) | $ / shares 122.70  
Weighted average exercise price, ending balance (in usd per share) | $ / shares 89.48  
Options vested and exercisable (in usd per share) | $ / shares $ 91.21  
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]    
Total Intrinsic Value | $ $ 2 $ 0
Assumed from Fubo, Total Intrinsic Value | $ 2,755  
Options vested and exercisable, Total Intrinsic Value | $ $ 2  
Assumed from Fubo, Weighted Average Remaining Contractual Life (Years) 3 years 10 months 24 days  
Weighted Average Remaining Contractual Life (Years) 3 years 10 months 24 days  
Options vested and exercisable, Weighted Average Remaining Contractual Life (Years) 3 years 6 months  
Market and service condition based options    
Number of Shares    
Outstanding at beginning of period (in shares) | shares 0  
Assumed from Fubo (in shares) | shares 371,110  
Outstanding at end of period (in shares) | shares 371,110  
Options vested and exercisable (in shares) | shares 371,110  
Weighted Average Exercise Price    
Weighted average exercise price, beginning balance (in usd per share) | $ / shares $ 0  
Assumed from Fubo (in usd per share) | $ / shares 153.00  
Weighted average exercise price, ending balance (in usd per share) | $ / shares 153.00  
Options vested and exercisable (in usd per share) | $ / shares $ 153.00  
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]    
Total Intrinsic Value | $ $ 0 $ 0
Options vested and exercisable, Total Intrinsic Value | $ $ 0  
Assumed from Fubo, Weighted Average Remaining Contractual Life (Years) 1 year 9 months 18 days  
Weighted Average Remaining Contractual Life (Years) 1 year 2 months 12 days  
Options vested and exercisable, Weighted Average Remaining Contractual Life (Years) 1 year 2 months 12 days  
v3.26.1
Equity-Based Compensation - Stock Option & RSU - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Oct. 08, 2020
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 30, 2026
Jun. 28, 2025
Apr. 20, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Share-based compensation arrangement by share-based payment award, options, grants in period, gross (in shares)   0 0 0   0  
Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount   $ 100   $ 100 $ 100    
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition       8 months 12 days      
Share-based payment arrangement, expense   9,477 $ 0 $ 32,359   $ 0  
Market and service condition based options              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Share-based compensation arrangement by share-based payment award, options, grants in period, gross (in shares)       0   0  
Share-based payment arrangement, nonvested award, cost not yet recognized, amount   0   $ 0 0    
Performance shares              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares) 341,666            
Grants in period, weighted average grant date fair value (in usd per share) $ 120.00            
Options, nonvested, number of shares (in shares)             273,333
Share-based compensation arrangement by share-based payment award, options, vested in period, fair value       1,200      
Restricted stock units (RSUs)              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount   54,700   $ 54,700 54,700    
Granted (in shares)       371,167      
Equity instruments other than options, vested in period, fair value       $ 16,300      
Weighted average period       2 years 4 months 24 days      
Aggregate intrinsic value   21,200   $ 21,200 21,200    
Performance based restricted stock units              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount   5,100   5,100 $ 5,100    
Share-based compensation arrangement by share-based payment award, options, vested in period, fair value       $ 5,700      
Granted (in shares)       129,689 129,689    
Share-based payment arrangement, expense   1,100 $ 0 $ 4,200   $ 0  
Market and Service Condition Based Restricted Stock Units              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount   2,400   2,400 $ 2,400    
Share-based payment arrangement, expense   $ 300   $ 800      
v3.26.1
Equity-Based Compensation - Schedule of Restricted Stock Unit Activity (Details) - $ / shares
 9 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Restricted stock    
Number of Shares    
Unvested at beginning of period (in shares) 0  
Assumed from Fubo (in shares) 2,887,103  
Granted (in shares) 371,167  
Vested (in shares) (881,843)  
Forfeited or expired (in shares) (70,696)  
Unvested at end of period (in shares) 2,305,731 2,305,731
Weighted Average Grant-Date Fair Value    
Assumed from Fubo (in usd per share) $ 31.18  
Granted (in usd per share) 43.85  
Vested (in usd per share) 36.23  
Forfeited or expired (in usd per share) 29.35  
Unvested at end of period (in usd per share) $ 31.34 $ 31.34
Performance based restricted stock units    
Number of Shares    
Unvested at beginning of period (in shares) 0  
Assumed from Fubo (in shares) 357,915  
Granted (in shares) 129,689 129,689
Vested (in shares) (29,062)  
Unvested at end of period (in shares) 458,542 458,542
Weighted Average Grant-Date Fair Value    
Assumed from Fubo (in usd per share) $ 58.14  
Granted (in usd per share) 44.28  
Vested (in usd per share) 37.75  
Unvested at end of period (in usd per share) $ 55.51 $ 55.51
Market and Service Condition Based Restricted Stock Units    
Number of Shares    
Unvested at beginning of period (in shares) 0  
Assumed from Fubo (in shares) 108,732  
Unvested at end of period (in shares) 108,732 108,732
Weighted Average Grant-Date Fair Value    
Assumed from Fubo (in usd per share) $ 33.76  
Unvested at end of period (in usd per share) $ 33.76 $ 33.76
v3.26.1
Commitments and Contingencies - Schedule of Operating Leases (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Commitments and Contingencies Disclosure [Abstract]        
Operating lease cost $ 1,324 $ 0 $ 3,530 $ 0
Other lease cost 80 0 253 0
Operating lease expense 1,404 0 3,783 0
Short-term lease rent expense 944 0 2,396 0
Total rent expense $ 2,348 $ 0 $ 6,179 $ 0
v3.26.1
Commitments and Contingencies - Schedule of Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 28, 2025
Jun. 30, 2026
Jun. 28, 2025
Commitments and Contingencies Disclosure [Abstract]        
Operating cash flows from operating leases $ 1,233 $ 0 $ 3,289 $ 0
Right of use assets exchanged for operating lease liabilities assumed from Fubo $ 0 $ 0 $ 34,301 $ 0
Weighted average remaining lease term - operating leases 9 years 2 months 12 days   9 years 2 months 12 days  
Weighted average discount rate - operating leases 6.80%   6.80%  
v3.26.1
Commitments and Contingencies - Schedule of Future Minimum Payments for Operating Leases (Details)
$ in Thousands
Jun. 30, 2026
USD ($)
Future payments  
2026 $ 1,234
2027 4,967
2028 4,400
2029 4,403
2030 4,403
Thereafter 24,031
Total 43,438
Less present value discount (10,993)
Operating lease liabilities $ 32,445
v3.26.1
Commitment and Contingencies - Market Access Agreements (Details) - Annual Sponsorship Agreements
$ in Thousands
Jun. 30, 2026
USD ($)
Future payments  
2026 $ 19,098
2027 28,002
2028 8,808
2029 3,563
2030 3,613
Thereafter 6,438
Total $ 69,522
v3.26.1
Commitments and Contingencies - Narrative (Details)
 1 Months Ended
Jul. 01, 2026
patent
Dec. 05, 2024
patent
Aug. 13, 2024
patent
May 21, 2024
patent
Sep. 06, 2023
patent
Dec. 31, 2025
decision
Nov. 30, 2025
patent
Mar. 31, 2025
patent
Loss Contingencies [Line Items]                
Patents found infringed, number         8      
Instituted patents, number     5 5        
Remaining patents, number   3 3       3 3
Decisions, number | decision           3    
Subsequent Event                
Loss Contingencies [Line Items]                
Patents found infringed, number 4