FuboTV Inc. 10-Q

Item 3. Quantitative and Qualitative Disclosures about Market Risk We are exposed to market risks in the ordinary course of our business, including risks relating to changes in interest rates and foreign currency The following discussion provides additional information regarding these risks. Interest Rate Risk As of June 30, 2023, we had cash, cash equivalents, and restricted cash of $299.7 million. Our cash equivalents are generally invested in money market funds. Interest paid on such funds fluctuates with the prevailing interest rate. In addition, as of June 30, 2023, we had $410.2 million of outstanding indebtedness on a consolidated basis which included $402.5 million of convertible notes and other notes outstanding with an aggregate principal of approximately $7.7 million. Our indebtedness bears interest at a fixed rate. We do not enter into investments for trading or speculative purposes and have not used any derivative financial instruments to manage our interest rate risk exposure. As of June 30, 2023, a hypothetical 10% change in interest rates would not have resulted in a material impact on our consolidated financial statements. Foreign Currency Risk Revenues denominated in currencies other than the U.S. dollar account for approximately 2.6% and 2.5% of the consolidated amount for the three and six months ended June 30, 2023, respectively. We therefore have foreign currency risk with the euro and Canadian dollar, however, as of June 30, 2023, a hypothetical 10% weakening of the euro relative to the U.S. dollar would not materially affect our revenue and operating income.