FuboTV (FuboTV (FUBO)) released its second-quarter fiscal 2026 results on Wednesday, and the numbers tell a story of a company in transition. Revenue came in at $1.574 billion, beating the analyst consensus of $1.523 billion. The company also posted a loss of just 7 cents per share, far better than the expected 37-cent loss. But the headline number that caught everyone's attention was the subscriber count: North American subscribers dropped to 5.7 million, down from 5.9 million in the same quarter last year and 6.2 million in the first quarter. That's a loss of about 500,000 subscribers in just three months.

So, what's going on? Fubo is in the middle of a strategic pivot. The company ended the quarter with $244 million in cash, and management is sticking to its long-term financial roadmap. They reaffirmed fiscal 2026 Pro Forma Adjusted EBITDA guidance of $80 million to $100 million, and they're looking ahead to fiscal 2028 with a target of at least $300 million in Adjusted EBITDA. They also expect to generate positive free cash flow in fiscal 2027 and 2028.

The big story here is the integration with Disney (Disney (DIS)). Fubo announced that Hulu + Live TV packages are now integrated into Fubo's eCommerce flow. That means customers can bundle services more easily, which could help stem subscriber losses. Fubo Co-founder and CEO David Gandler said, "Looking ahead, we are making progress on multiple new integrations with Disney," and he noted these moves should drive "sustained subscriber, revenue and Adjusted EBITDA growth."

But Fubo isn't just relying on Disney. The company is also investing in product innovation, specifically conversational AI. They're developing an AI Assistant for DVR searches that lets customers use natural language instead of rigid voice commands. Think of it like asking a friend to find a show rather than shouting specific commands at your TV. The feature is set to launch on Roku (Roku (ROKU)), Apple TV (Apple (AAPL)), and mobile devices this fall.

Investors seemed a bit skeptical on Wednesday morning, with Fubo shares down 1.20% in premarket trading at $12.25. But the company's long-term vision is clear: use AI to improve the user experience and leverage the Disney partnership to attract and retain subscribers. Whether that's enough to reverse the subscriber decline remains to be seen, but Fubo is making bold moves to stay in the game.