Discontinued Operations

9 Months Ended

Sep. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

Dissolution of Fubo Gaming

On October 17, 2022, the Company dissolved its wholly owned subsidiary Fubo Gaming Inc. ("Fubo Gaming"). In connection with the dissolution of Fubo Gaming, the Company concurrently ceased operation of Fubo Sportsbook.

Net income (loss) from Fubo Gaming's discontinued operations consists of the following for the three and nine months ended September 30, 2023 and 2022:

	For the Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Revenues
Wagering	$	—	$	(176)	$	—	$	(659)
Total revenues	—		(176)		—		(659)
Operating expenses
Sales and marketing	—		2,687		(59)		8,951
Technology and development	—		2,527		17		8,117
General and administrative	196		5,757		942		15,949
Depreciation and amortization	158		113		158		328
Gain on extinguishment of liabilities	(1,030)		—		(5,770)		—
Impairment of goodwill, intangible assets, and other long-lived assets, net	7		35,454		40		46,136
Total operating expenses	(669)		46,538		(4,672)		79,481
Operating income (loss)	669		(46,714)		4,672		(80,140)
Other income (expense)
Interest expense and financing costs	—		(230)		—		(568)
Total other expense	—		(230)		—		(568)
Income (loss) from discontinued operations before income taxes	669		(46,944)		4,672		(80,708)
Income tax benefit	—		—		—		—
Net income (loss) from discontinued operations	669		(46,944)		4,672		(80,708)

During the three and nine months ended September 30, 2023, the Company recorded a $1.0 million and $5.8 million gain on extinguishment of certain liabilities, respectively. As of September 30, 2023, the balance sheet of discontinued operations consisted primarily of accounts payable, accrued expenses and other current liabilities of $21.4 million, primarily related to contract termination costs.