NEW YORK, Jan 18, 2026, 16:28 EST
FuboTV Inc (FUBO) shares closed at $2.67 on Friday, hovering close to the $2.70 mark. The sports-focused streamer caught attention in a September-quarter media group earnings screen. 1
The muted reaction says it all. Investors aren’t focused on one quarter’s beats; they want to figure out what’s shifting on the balance sheet and within the post-deal business right now.
February marks a key deadline with convertible notes coming due. These notes are debt instruments that can convert into shares, risking dilution for current shareholders if the company fails to repay in cash.
Fubo repurchased $140.2 million of its 3.25% convertible senior notes due 2026 at full principal plus accrued interest. The buyback was funded by a $145 million term loan tied to its 2025 Hulu + Live TV business combination. CEO David Gandler called the move a sign of proactive capital management, emphasizing that “no shareholders were diluted.” Only $4.5 million remains to be repaid at maturity in February. 2
Fubo reported $377.2 million in revenue for the September quarter, slipping 2.3% from last year but topping analyst forecasts by 4.9%, according to StockStory. The company also beat estimates on both earnings per share and EBITDA, a key profitability metric. Warner Music Group led the pack with the largest revenue upside this earnings season, whereas Warner Bros. Discovery fell short of expectations. Disney’s revenue came in flat and missed forecasts as well, the report added. 3
Fubo operates in a packed live-TV streaming space dominated by bigger players with scale and broader bundles. Costs hinge on sports rights and carriage deals, so even slight changes in churn can quickly impact the bottom line.
The company is ramping up new content on its free streaming service. Fubo plans to launch “The Hoops HQ Show” on Jan. 20 via Fubo Sports Network, a FAST channel—short for free, ad-supported streaming TV. Seth Davis, co-founder of Hoops HQ, called the network “the perfect platform,” while Fubo Studios head Pamela Duckworth said fans “are hungry to hear from authentic voices.” 4
The downside scenario is straightforward. Revenue dropped year over year in the September quarter, and results can fluctuate due to seasonality and the cost of renewing content agreements. Integration efforts may also divert attention and increase expenses. If subscriber numbers or ad trends fall short, a low valuation might signal risk rather than opportunity.
At this point, the stock’s narrative hinges less on earnings and more on what comes next: a smooth February maturity, more visible integration steps, and another quarter proving the business can expand without the market fussing over its capital structure.
