Intangible Assets and Goodwill

6 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

The tables below summarize the Company’s intangible assets (in thousands):


	Useful Life (Years)	Weighted Average Remaining Life (Years)	March 31, 2026
			Intangible Assets		Accumulated Amortization		Net Balance
Trade names	8	7.6	112,400		(5,854)		106,546
Customer relationships - streaming	2	1.6	145,600		(30,333)		115,267
Customer relationships - advertising	2	1.6	19,800		(4,125)		15,675
Capitalized internal use software	3	1.8	25,966		(5,598)		20,368
Developed technology	5	4.6	155,000		(12,917)		142,083
Software licenses	5	2.7	3,171		(440)		2,731
Total			$	461,937	$	(59,267)	$	402,670

The intangible assets are being amortized over their respective original useful lives, which range from two to eight years.

The Company recorded amortization expense related to the above intangible assets of approximately $35.6 million and $59.6 million for the three and six months ended March 31, 2026, respectively. There was no amortization expense recorded during the three and six months ended March 29, 2025.

There were no intangible assets outstanding at September 27, 2025.

The estimated future amortization expense associated with intangible assets, net is as follows (in thousands):


Fiscal Year Ending September 30,	Future Amortization
2026	$	71,436
2027	137,076
2028	57,167
2029	45,999
2030	45,088
Thereafter	45,904
Total	$	402,670

Goodwill

The following table is a summary of the changes to goodwill for the six months ended March 31, 2026 (in thousands):


Balance - September 27, 2025	$	1,296,000
Fubo purchase accounting	1,318,161

Balance - March 31, 2026	$	2,614,161

The Company tests goodwill for impairment at the reporting unit level on an annual basis on July 1 for each fiscal year or more frequently if triggering events indicate a possible impairment. Since the Closing Date of the Business Combination, the Company experienced significant decreases in its stock price and market capitalization. The Company determined that the decreases in its stock price and market capitalization represented a triggering event. As a result, the Company engaged an independent valuation specialist to conduct a quantitative interim impairment test of its goodwill as of March 31, 2026, employing both the income approach (discounted cash flow) and market approach. In completing the quantitative impairment test, the Company compared the reporting unit’s fair value, primarily based on future discounted cash flows, to its carrying value in order to determine if an impairment charge is warranted. The estimates of future discounted cash flows involve considerable management judgment and are based upon certain significant assumptions including the weighted average cost of capital as well as projected EBITDA, which includes assumptions related to revenue growth rates and operating expenses. The weighted average cost of capital and long-term growth rate used to determine the fair value of the reporting unit were 13.0% and 3%, respectively. Based on the interim impairment assessment, the Company concluded that the estimated fair value of the reporting unit exceeded its carrying value by approximately 3.6% and the Company concluded no impairment was warranted.

Notwithstanding the results of the Company’s interim impairment assessment, if the Company's stock price and market capitalization and the financial performance of the reporting unit declines, then it is possible these financial and economic conditions could result in another triggering event for the reporting unit in the future and could lead to a potential impairment.