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PLBY

Playboy, Inc.

PLBY

Playboy, Inc. • NASDAQ
$1.92 ▲ 0.52% (+0.01)
Market Cap $179.26 M
52w High $2.44
52w Low $0.90
Dividend Yield 0%
P/E -6.4
Volume 274.53K
Outstanding Shares 93.37M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $28.994M ▲ $20.313M ▼ $460K ▲ 1.587% ▲ $0.004 ▲ $3.857M ▲
Q2-2025 $28.148M ▼ $24.292M ▼ $-7.679M ▲ -27.281% ▲ $-0.081 ▲ $-2.715M ▲
Q1-2025 $28.875M ▼ $26.082M ▼ $-9.041M ▲ -31.311% ▼ $-0.098 ▲ $-3.895M ▼
Q4-2024 $83.311M ▲ $57.246M ▲ $-12.543M ▲ -15.056% ▲ $-0.15 ▲ $-1.363M ▲
Q3-2024 $12.864M $37.186M $-33.755M -262.399% $-0.45 $-5.374M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $27.563M ▲ $278.311M ▲ $274.746M ▼ $3.773M ▲
Q2-2025 $19.624M ▼ $264.062M ▼ $281.76M ▼ $-17.49M ▼
Q1-2025 $23.719M ▼ $270.575M ▼ $282.162M ▼ $-11.379M ▼
Q4-2024 $30.904M ▲ $284.704M ▲ $292.643M ▲ $-7.731M ▲
Q3-2024 $9.54M $271.544M $287.499M $-15.747M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $460K ▲ $10.129M ▲ $438K ▲ $17K ▲ $7.839M ▲ $9.812M ▲
Q2-2025 $-7.679M ▲ $-3.887M ▲ $-143K ▼ $-74K ▼ $-3.927M ▲ $-4.282M ▲
Q1-2025 $-9.041M ▲ $-7.62M ▼ $-34K ▲ $-40K ▼ $-7.651M ▼ $-7.654M ▼
Q4-2024 $-14.397M ▲ $319K ▲ $-190K ▲ $22.152M ▲ $21.364M ▲ $-743K ▲
Q3-2024 $-33.798M $-6.678M $-456K $-342K $-7.31M $-6.634M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Consumer Products
Consumer Products
 $50.00M ▲$20.00M ▼$0 ▼$20.00M ▲
Trademark Licensing
Trademark Licensing
 $0 ▲$370.00M ▲$360.00M ▼$350.00M ▼
TV And Cable Programming
TV And Cable Programming
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Playboy’s income statement shows a small business still struggling to reach sustainable profitability. Revenue rose strongly into 2021 but has since declined, reflecting the exit from some legacy operations and a reset of the business model. Gross margins are fairly healthy, suggesting the underlying brand and licensing activities can be high‑margin, but overhead and restructuring costs keep operating income and net income in the red. Losses have narrowed somewhat more recently, yet the company has now posted several consecutive years of bottom‑line losses, which underlines execution risk in its turnaround and pivot toward an asset‑light, licensing‑driven model.

Balance Sheet

Balance Sheet The balance sheet looks constrained and highly leveraged. Total assets have shrunk meaningfully from earlier in the decade, and shareholder equity has eroded to a very thin layer, which leaves limited room to absorb further losses. Debt remains sizable relative to the company’s scale, while cash on hand is low, indicating a narrow liquidity cushion. This mix of modest assets, small equity, and notable debt means financial flexibility is limited and the company is more vulnerable to business setbacks or funding disruptions.

Cash Flow

Cash Flow Cash flow has been consistently negative from operations, which means the core business has not yet generated self‑funding cash. Free cash flow has also been negative year after year, even though capital spending is restrained and fits an asset‑light strategy. In practice, this means most of the cash burn is coming from ongoing operating losses rather than heavy investment. Unless operating cash flow improves, the company will continue to depend on external sources—such as debt, equity, asset sales, or large licensing advances—to support operations and cover obligations.

Competitive Edge

Competitive Edge Playboy’s competitive edge is almost entirely anchored in its globally recognized brand and distinctive logo, which still carry cultural and nostalgic weight. This allows the company to license its name across apparel, lifestyle, and sexual wellness products, often at premium positioning. However, the competitive environment is intense: in lifestyle and fashion it faces countless modern brands, and in adult and creator platforms it goes up against dominant digital players like OnlyFans and other emerging creator hubs. The brand also carries historical baggage and regulatory sensitivity, which can limit partnership options in more conservative markets. Overall, Playboy has a rare brand asset but must work hard to keep it relevant and acceptable to new generations while navigating reputational risk.

Innovation and R&D

Innovation and R&D Innovation at Playboy is less about traditional lab R&D and more about reimagining how the brand is monetized in digital and licensing formats. Key moves include the Centerfold creator platform, efforts in NFTs and Web3 to monetize the historical archive, and the long‑term Byborg licensing partnership for digital entertainment, including potential AI and webcam services. These steps align with an asset‑light, technology‑enabled model and aim to tap the creator economy and new digital monetization channels. At the same time, areas like NFTs and adult‑focused digital services are volatile and subject to changing consumer tastes, regulation, and platform risk. The relaunch of a physical magazine as a niche, prestige product is another example of using heritage to support a modern brand ecosystem rather than a traditional print business.

Summary

Playboy is in the middle of a deep strategic transformation from a legacy media operator to a leaner, licensing‑driven lifestyle and digital brand. Financially, the company remains loss‑making, with a constrained balance sheet, ongoing cash burn, and limited room for error, which together imply elevated financial and execution risk. Strategically, the core asset is still the Playboy brand and its archive, which the company is trying to redeploy across licensing, creator platforms, and Web3 initiatives in an asset‑light way. The long‑term outcome will depend on whether these partnerships and digital experiments can produce stable, high‑margin cash flows quickly enough to offset the weak current earnings base and tight financial position.

NEWS

November 13, 2025 · 5:16 PM UTC

Playboy to Participate in Upcoming Investor Conferences

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October 14, 2025 · 8:00 AM UTC

Playboy to Participate in Planet MicroCap Showcase Toronto 2025 Conference

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October 2, 2025 · 11:29 AM UTC

Playboy Announces Fan Voting is Now Live for The Great Playmate Search

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September 2, 2025 · 7:00 AM UTC

Playboy to Participate in Lake Street's Best Ideas Growth Conference

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