Fubo sees record Q3 subs
November 3, 2025
FuboTV has reported its financial results for the third quarter ended September 30th 2025.
In the quarter, Fubo’s North America streaming business delivered total revenue of $368.6 million (€319.9m), down 2.3 per cent year-over-year (YoY), and 1.63 million paid subscribers, up 1.1 per cent YoY. Notably, the subscriber result was Fubo’s highest for a third quarter in the company’s history. In the Rest of World (ROW), Fubo delivered $8.6 million in total revenue, down 3.2 per cent YoY, and 342,000 paid subscribers, down 9.5 per cent YoY.
In the third quarter, Adjusted EBITDA (AEBITDA) was $6.9 million, a $34.5 million improvement when compared to the third quarter 2024, representing Fubo’s second consecutive quarter of positive AEBITDA. Net cash used in operating activities in the third quarter was -$6.5 million, a $9 million increase compared to the third quarter 2024, and Free Cash Flow in the third quarter was -$9.4 million, a decrease of $8.3 million compared to the third quarter 2024. Fubo ended the quarter with $280.3 million in cash, cash equivalents and restricted cash on hand.
“Fubo’s third quarter 2025 results reflect the strength of our execution and the growing demand for flexible, fan-first streaming,” commented David Gandler, co-founder and CEO of Fubo. “We delivered record third quarter subscriber growth in North America and our second consecutive quarter of positive Adjusted EBITDA – clear proof our model is working. New offerings like our Fubo Sports skinny service and Pay-Per-View platform are giving consumers more choice and control than ever. And, as we combine with the Hulu + Live TV business, we’re poised to create a next-gen pay-TV company – built for scale, personalisation and profitability. We’re energised by what’s ahead and remain focused on delivering value for viewers, shareholders and our programming partners.
The results pertain to Fubo’s standalone operations prior to the combination of Fubo and The Walt Disney Company’s Hulu + Live TV business.
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