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Discontinued Operations (Tables) | 12 Months Ended
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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) |

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