Business
PLBY Group Reports Third Quarter 2021 Financial Results
Third Quarter 2021 Revenue Grew 67% Year-Over-Year to $58.4 Million LOS ANGELES, Nov. 15, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (“PLBY
About this update from Playboy, Inc.
[{"type":"text","content":"Third Quarter 2021 Revenue Grew 67% Year-Over-Year to $58.4 Million\nLOS ANGELES, Nov. 15, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (“PLBY Group” or the “Company”), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, today provided financial results for the third quarter ended September 30, 2021. Ben Kohn, Chief Executive Officer of PLBY Group, stated, “I’m thrilled to report another successful quarter with a 67% increase in revenue, compared to the prior year, driven by continued strength in both direct-to-consumer and licensing. We’ve made meaningful progress against the three pillars of our strategic roadmap: expanding our U.S. direct-to-consumer commerce business, optimizing our licensing partnerships in key territories and categories, and driving new recurring revenue growth initiatives with a focus on innovative digital offerings such as our soon-to-launch creator-led platform, CENTERFOLD, and our NFT Rabbitars, which we plan to develop into a membership experience.” Mr. Kohn continued, “With the direct-to-consumer infrastructure we’ve put in place over the past year, we are now well-positioned to expand our consumer offerings into membership services to drive significant lifetime value. We’re very excited to soon launch CENTERFOLD, our new creator-led platform that will empower the creative and influencer community to interact directly with their fans and build their own recurring revenue businesses. Our recent acquisition of the Dream platform, and its technology team, will accelerate our timeline to market, and provide crucial in-house development resources to help us scale quickly.” Third Quarter 2021 Financial Highlights Revenue grew 67% year-over-year, to $58.4 million, despite over $5 million of lost revenue due to COVID-related closures and supply chain impacts.Direct-to-consumer revenue grew 139% year-over-year, to $36.0 million, and licensing revenue grew 14% year-over-year, to $16.9 million.Adjusted EBITDA was $5.2 million and net loss was $7.7 million, largely driven by $9.8 million of non-recurring expenses related to the acquisition of Honey Birdette and ongoing expenses associated with being a newly public company. Webcast Details The Company will host a webcast at 5:00 p.m. Eastern Time today to discuss the third...