Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

Net loss from Fubo Gaming's discontinued operations consists of the following for the years ended December 31, 2022 and 2021:

	Years Ended December 31,
	2022		2021
Revenues
Wagering	$	(759)	$	(20)
Total revenues	(759)		(20)
Operating expenses
Sales and marketing	9,976		6,667
Technology and development	9,220		5,095
General and administrative	28,481		19,146
Depreciation and amortization	433		215
Impairment of goodwill, intangible assets, and other long-lived assets, net	87,365		—
Total operating expenses	135,475		31,123
Operating loss	(136,234)		(31,143)
Other income (expense)
Interest expense and financing costs	(598)		—
Other income (expense)	(42)		(34)
Total other expense	(640)		(34)
Net loss	(136,874)		(31,177)

The carrying amounts of the major classes of assets and liabilities classified as discontinued operations as of December 31, 2022 and 2021 are as follows:

	December 31, 2022		December 31, 2021
ASSETS
Current assets
Cash and cash equivalents	$	3,277	$	3,326
Cash reserved for users	—		579
Accounts receivable, net	—		11
Prepaid and other current assets	1,366		2,445
Total current assets	4,643		6,361
Property and equipment, net	—		1,703
Intangible assets, net	—		14,625
Goodwill	—		10,682
Right-of-use assets	—		3,101
Other non-current assets	—		40,117
Total assets - discontinued operations	$	4,643	$	76,589
LIABILITIES
Current liabilities
Accounts payable	$	4,347	$	693
Accrued expenses and other current liabilities	25,787		4,294
Lease liabilities	2,447		808
Total current liabilities	32,581		5,795
Lease liabilities	—		2,447
Other long-term liabilities	—		8,686
Total liabilities - discontinued operations	$	32,581	$	16,928

Schedule of Deconsolidation of Nexway

The deconsolidation of Nexway resulted in a loss of $11.9 million calculated as follows (in thousands):

Cash	$	5,776
Accounts receivable	9,831
Inventory	50
Prepaid expenses	164
Goodwill	51,168
Property and equipment, net	380
Right-of-use assets	3,594
Total assets	$	70,963
Less:
Accounts payable	34,262
Accrued expenses	15,788
Lease liability	3,594
Deferred income taxes	1,161
Other liabilities	40
Total liabilities	$	54,845
Non-controlling interest	2,595
Foreign currency translation adjustment	(770)
Loss before fair value – investment in Nexway	14,293
Less: fair value of shares owned by the Company	2,374
Loss on deconsolidation of Nexway	$	11,919

Schedule of Net Carrying Value of Investment and Related Gain on Sale of Investment

The following table represents the net carrying value of the Company’s investment in Facebank AG and Nexway and the related gain on sale of its investment (in thousands):

Investment in Nexway	$	4,989
Financial assets at fair value	1,965
Goodwill	28,541
Total assets	35,495
Loan payable	56,140
Net carrying amount	(20,645)
Issuance of common stock to original owners of Facebank AG	12,395
Cash paid to former owners of Facebank AG	619
Gain on sale of investment in Facebank AG	$	(7,631)