Discontinued Operations

9 Months Ended

Sep. 30, 2024

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 from Fubo Gaming's discontinued operations consists of the following for the three and nine months ended September 30, 2024 and 2023 (in thousands):

	For the Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Revenues
Wagering	$	—	$	—	$	—	$	—
Total revenues	—		—		—		—
Operating expenses
Sales and marketing	—		—		—		(59)
Technology and development	—		—		—		17
General and administrative	(4)		196		275		942
Depreciation and amortization	—		158		—		158
Gain on extinguishment of liabilities	(1,832)		(1,030)		(1,962)		(5,770)
Impairment of goodwill, intangible assets, and other long-lived assets, net	—		7		—		40
Total operating expenses	(1,836)		(669)		(1,687)		(4,672)
Operating income	1,836		669		1,687		4,672
Net income from discontinued operations before income taxes	1,836		669		1,687		4,672
Income tax benefit	—		—		—		—
Net income from discontinued operations	1,836		669		1,687		4,672

As of September 30, 2024, the balance sheet of discontinued operations consisted primarily of other current liabilities of $15.0 million primarily related to contract termination costs. As of December 31, 2023, the balance sheet of discontinued operations consisted primarily of accounts payable, accrued expenses and other current liabilities of $19.6 million, primarily related to contract termination costs.