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Commitments and Contingencies | 9 Months Ended
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Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies Leases The components of lease expense were as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Operating leases |  |  |  |  |  |  |
Operating lease cost | $ | 1,758 |  |  | $ | 1,759 |  |  | $ | 5,284 |  |  | $ | 5,288 |
Other lease cost | 319 |  |  | 193 |  |  | 790 |  |  | 607 |
Operating lease expense | 2,077 |  |  | 1,952 |  |  | 6,074 |  |  | 5,895 |
Total rent expense | $ | 2,077 |  |  | $ | 1,952 |  |  | $ | 6,074 |  |  | $ | 5,895 |
Supplemental cash flow information related to leases were as follows (in thousands, except term and discount rate):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Operating cash flows from operating leases | $ | 1,758 |  |  | $ | 2,105 |  |  | $ | 5,284 |  |  | $ | 6,308 |
Weighted average remaining lease term - operating leases | 9.4 |  | 9.6 |  | 9.4 |  | 9.6
Weighted average discount rate - operating leases | 7.7 | % |  | 7.7 | % |  | 7.7 | % |  | 7.7 | %
As of September 30, 2025, future minimum payments for the operating leases are as follows (in thousands):
Year Ended December 31, 2025 | $ | 1,601 |
Year Ended December 31, 2026 | 5,991 |
Year Ended December 31, 2027 | 4,831 |
Year Ended December 31, 2028 | 4,403 |
Year Ended December 31, 2029 | 4,403 |
Thereafter | 27,334 |
Total | 48,563 |
Less present value discount | (14,524) |
Operating lease liabilities | $ | 34,039 |
Other Contractual Obligations Annual Sponsorship Agreements The Company is a party to several non-cancelable contracts with vendors and licensors for marketing and other strategic partnership related agreements where the Company is obligated to make future minimum payments under the non-cancelable terms of these contracts as follows (in thousands):
2025 | $ | 825 |
2026 | 3,325 |
2027 | 3,425 |
2028 | 3,525 |
2029 | 3,575 |
Thereafter | 9,150 |
Total | $ | 23,825 |
Sports Rights Agreements The Company entered into various sports right agreements to obtain programming rights to certain live sporting events. Future payments under these agreements are as follows (in thousands):
2025 | $ | 8,460 |
2026 | 32,018 |
2027 | 23,558 |
2028 | 4,583 |
Total | $ | 68,619 |
During the nine months ended September 30, 2025, the Company made upfront payments totaling approximately $33.4 million, which are recorded in prepaid sports rights on the condensed consolidated balance sheets. Contingencies The Company is subject to certain inquiries, investigations, legal proceedings and claims that arise from time to time in the ordinary course of its business, including relating to business practices and patent infringement. Litigation can be expensive and disruptive to normal business operations. Moreover, the results of complex legal proceedings are difficult to predict and the Company’s view of these matters may change in the future as the litigation and events related thereto unfold. When the Company determines that a loss is both probable and reasonably estimable, a liability is recorded and disclosed if the amount is material to the financial statements taken as a whole. When a material loss contingency is only reasonably possible, the Company does not record a liability, but instead discloses the nature and the amount of the claim, and an estimate of the loss or range of loss, if such an estimate can reasonably be made. Legal expenses associated with any contingency are expensed as incurred. The Company is engaged in discussions with certain third parties regarding patent licensing matters. The Company is not able to reasonably estimate whether it will be able to reach an agreement with these parties or the amount of potential licensing fees, if any, it may agree to pay in connection with these discussions, but it is possible that any such amount could be material. Legal Proceedings The Company is, and may in the future be, involved in various legal proceedings arising from the normal course of business activities. Although the results of litigation and claims cannot be predicted with certainty, currently, the Company believes that the likelihood of any material adverse impact on the Company’s consolidated results of operations, cash flows or our financial position for any such litigation or claims is remote. Regardless of the outcome, litigation can have an adverse impact on the Company because of the costs to defend lawsuits, diversion of management resources and other factors. DISH Technologies, LLC, et al. v. fuboTV Media Inc., No. 1:23-cv-00986 (D. Del.) On September 6, 2023, DISH Technologies L.L.C. and Sling TV L.L.C. (collectively, “DISH”) filed a complaint in the District of Delaware alleging that fuboTV Media Inc. (n/k/a FuboTV Media LLC) (“FuboTV Media”) infringes eight of DISH's patents by streaming video through a FuboTV Media application and seeking damages and injunctive relief. On December 14, 2023, following a series of stipulated extensions, FuboTV Media filed a motion to dismiss the complaint asserting that DISH’s patents are invalid. A hearing was held on March 25, 2024. On May 7, 2024, DISH filed a motion for leave to file a First Amended Complaint to assert more claims. The district court granted this motion on May 21, 2024, and denied-as-moot FuboTV Media’s motion to dismiss. FuboTV Media also filed petitions for inter partes review (“IPR”) on all the asserted patents, five of which relate to patents for which the United States Patent Trial and Appeal Board (“PTAB”) instituted proceedings in April 2024, and issued its final written decisions holding the majority of the challenged claims unpatentable in April 2025. The lead Petitioner in these IPRs requested rehearing and DISH requested Director Review of these decisions, both of which were denied in October 2025 and August 2025, respectively. The lead Petitioner in these IPRs and DISH filed notices of appeal in October 2025 and the deadline for filing notices of appeal has not yet passed. The PTAB also instituted proceedings on the remaining three patents, and those are expected to be complete by November 21, 2025. After filing its IPR petitions, FuboTV Media filed a motion to stay the district court case pending resolution of those reviews. The district court granted that motion on August 13, 2024, staying the case until two weeks after the PTAB issues final written decisions on the five then-instituted patents and any appeals therefrom, and ordered that the stay would remain in place for the duration of any instituted IPRs and appeals therefrom on the remaining three patents. On December 5, 2024, the parties informed the Court that the PTAB instituted review for the remaining three patents. Currently, the case is fully stayed pending the instituted IPRs. At this time, the Company cannot predict the outcome, or provide a reasonable estimate or range of estimates of the possible outcome or loss, if any, with respect to this matter. The Company believes it has meritorious defenses and intends to defend itself vigorously in this matter. Video Privacy Protection Act ("VPPA") Matters The Company has been named as defendant in putative class action complaints bringing claims under the VPPA, alleging the Company shared subscribers’ personally identifiable information to third party advertisers and through the Meta Pixel and Google Analytics without consent. See Burdette v. fuboTV, Inc., No. 1:23-cv-10351 (N.D. Ill.); Perez, et al., v. fuboTV, Inc., No. 0:23-cv-61961 (S.D. Fla.); Beasley v. fuboTV, Inc., No. 1:24-cv-00711 (S.D.N.Y). The Burdette litigation was subsequently voluntarily dismissed and refiled in state court as Burdette v. fuboTV, Inc., No. 2024LA001460 (Cir. Ct. DuPage County). The Company has reached an agreement to resolve these matters on a class basis for $3,400,000. The court preliminarily approved the settlement agreement on May 29, 2025, and the final approval hearing went forward on October 6, 2025. The Court entered an order granting final approval of the settlement agreement on October 8, 2025. The Beasley plaintiff filed a notice of voluntary dismissal on April 29, 2025. The Perez case was also voluntarily dismissed on May 22, 2025. Additional allegations or litigation may arise against the Company in the future related to the VPPA and other privacy and consumer protection laws.

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