$FUBO

Brick Top Productions, Inc.

CIK:0001484769|SEC Filings

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

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

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