FuboTV (FUBO.US) Q4 revenue increased by 28.5% year-over-year, with North American ARPU reaching a new record high.

Before the US stock market on Friday, FuboTV (FUBO.US) announced its performance for the fourth quarter of 2023. The financial report shows that FuboTV's revenue for the fourth quarter was $410 million, an increase of 28.5% year-on-year, exceeding market expectations by $12.37 million; the net loss was $71.042 million, compared to $95.915 million in the same period last year, with a loss per share of $0.24, compared to $0.48 in the same period last year, adjusted loss per share was $0.17, and the market was expecting a loss per share of $0.31. In North America, FuboTV reached 1.618 million paid users in the fourth quarter, a 12% increase year-on-year. North America's average monthly revenue per user (NA ARPU) reached a historical high of $86.65, a 15% increase year-on-year, reflecting the company's ability to effectively monetize its user base. Subscription revenue in this region increased by 30%, while advertising revenue increased by 15%. The gross profit margin was 10%, an increase of 888 basis points year-on-year. In other regions globally, FuboTV's revenue was $8.4 million, an 18% increase year-on-year, with 406,000 paid users, a 3% decrease compared to the same period last year. ARPU was $6.81, a 12% increase year-on-year. The performance in other regions globally includes the performance of Molotov, a French live TV streaming service company that was acquired by FuboTV in December 2021. As of the end of the quarter, FuboTV held $251 million in cash, cash equivalents, and restricted cash. FuboTV stated that the company has enough liquidity to fund its current operating plans and achieve its positive cash flow target for 2025. Looking ahead, in the North American market, FuboTV expects paid users in the first quarter of 2024 to be between 1.415 million to 1.435 million, an 11% year-on-year increase, with total revenue of $365 million to $375 million, a 17% year-on-year increase. It is estimated that the total number of paid users for the full year of 2024 will reach 1.665 million to 1.685 million, a 4% year-on-year increase, with total revenue reaching $1.505 billion to $1.525 billion, a 13% year-on-year increase. In other regions globally, it is estimated that paid users in the first quarter of 2024 will be between 380,000 and 385,000, a 1% year-on-year increase, with total revenue of $6.6 million to $8.6 million, a 2% year-on-year decrease. It is estimated that the total number of paid users in 2024 will be between 390,000 to 410,000, a 2% year-on-year decrease, with total revenue of $31 million to $35 million, a 2% year-on-year increase. After the financial report was released, as of the time of writing, the stock rose by nearly 14% before the market opened.