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Investing.com — Fubotv Inc (NYSE:FUBO) shares are down 6% Monday after the company reported preliminary fourth-quarter results.
The sports-first live TV streaming platform said total revenue is expected to be between $215 and $220 million, increasing between 105% and 109% year-over-year. This is above prior guidance of $205 to $210 million. Full-year revenue for 2021 is expected to be between $622 million and $627 million, representing an approximately 138% to 140% rise year-over-year. This again is above prior guidance of $612 million to $617 million.
At the end of the year, the company’s paid subscribers are anticipated to surpass 1.1 million. This represents an over 100% increase year-over-year and again beats prior guidance of 1.06 to 1.07 million subscribers. Furthermore, Fubo’s subscriber acquisition cost is forecast to be at the low end of its target range of 1.0x to 1.5x monthly average revenue per user for the quarter.
“fuboTV’s strong preliminary fourth quarter 2021 results close out a pivotal year where we made meaningful advancements against our mission to define a new category of interactive sports and entertainment television,” said David Gandler, co-founder and CEO, fuboTV.
“In the fourth quarter, we continued to deliver triple digit revenue growth, alongside operating leverage, through the efficient deployment of acquisition spend and the retention of high quality customer cohorts.
The New York-based company said it expects to end the quarter with more than $375 million of liquidity.
The numbers announced exclude Fubo’s Molotov SAS acquisition in December. However, speaking on the deal, Gandler said: “While still early, our progress to date continues to reinforce our belief that the synergies of the combined companies will give us operating leverage to build a scalable global platform with minimal incremental spend.”
