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Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

Note 7 - Intangible Assets and Goodwill

Intangible Assets

The table below summarizes the Company’s intangible assets at March 31, 2022 and December 31, 2021 (in thousands):

Schedule of Intangible Assets

	Useful	Weighted Average Remaining	March 31, 2022
	Lives (Years)	Life (Years)	Intangible Assets		Accumulated Amortization			Net Balance
Customer relationships	2	1.7	$	32,810	$	(25,200	)	$	7,610
Tradenames	2 - 9	7.0		38,865		(8,600	)		30,265
Software and technology	3 - 9	6.6		196,736		(41,363	)		155,373
Gaming licenses and market access fees	2 - 5	4.3		15,701		(1,192	)		14,509
Total			$	284,112	$	(76,355	)	$	207,757

	Useful	Weighted Average Remaining	December 31, 2021
	Lives (Years)	Life (Years)	Intangible Assets		Accumulated Amortization			Net Balance
Customer relationships	2	2.2	$	32,965	$	(21,105	)	$	11,860
Tradenames	2-9	7.2		38,876		(7,455	)		31,421
Software and technology	3-9	8.7		195,852		(35,572	)		160,280
Gaming licenses and market access fees	2-5	4.8		14,951		(326	)		14,625
Total			$	282,644	$	(64,458	)	$	218,186

fuboTV Inc.

Notes to the Condensed Consolidated Financial Statements

(Unaudited)

The intangible assets are being amortized over their respective original useful lives, which range from two to nine years. The Company recorded amortization expense of $12.1 million and $9.1 million for the three months ended March 31, 2022 and 2021.

The estimated future amortization expense associated with intangible assets (excluding gaming licenses and market access fees) is as follows (in thousands):

	Future Amortization
Year ended December 31, 2022 (Nine months remaining)		27,468
Year ended December 31 2023		35,496
Year ended December 31 2024		30,502
Year ended December 31 2025		28,969
Year ended December 31 2026		28,651
Thereafter		56,671
Total	$	207,757

Prepaid Market Access Agreements

During the three months ended March 31, 2022, the Company paid $3.3 million for gaming licenses pursuant to market access agreements in states where the market access is pending regulatory approval as of March 31, 2022. The $3.3 million is included in other non-current assets on the accompanying consolidated balance sheet as of March 31, 2022.

Goodwill

The following table is a summary of the changes to goodwill for the three months ended March 31, 2022 (in thousands):

Schedule of Goodwill

Balance - December 31, 2021	$	630,269
Molotov purchase accounting adjustment		(497	)
Foreign currency translation adjustment		(2,140	)
Balance - March 31, 2022	$	627,632

Goodwill includes an accumulated impairment charge of $148.1 million related to the historical Facebank reporting unit.

fuboTV Inc.

Notes to the Condensed Consolidated Financial Statements

(Unaudited)