Business
PLBY Group Reports Third Quarter 2022 Financial Results
Third Quarter 2022 Revenue Up 9% Year-Over-Year to $63.6 Million LOS ANGELES, Nov. 09, 2022 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (“PLBY Group”
About this update from Playboy, Inc.
[{"type":"text","content":"Third Quarter 2022 Revenue Up 9% Year-Over-Year to $63.6 Million LOS ANGELES, Nov. 09, 2022 (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, 2022. “Although our short-term results continued to be impacted by global macroeconomic headwinds, we made solid progress in the third quarter against our long-term goals to build out our consumer products business and enhance the Playboy creator platform,” said PLBY Group’s Chief Executive Officer Ben Kohn. “We remain hyper focused on these goals, and I believe we have the right strategy and management team in place to successfully execute our vision for the future of the Company.” Third Quarter 2022 Financial Highlights Revenue grew 9% year-over-year, to $63.6 million. On a constant currency basis, revenue would have been $64.8 million, with year-over-year growth of 11%.Direct-to-consumer revenue grew 22% year-over-year, to $44.0 million, driven by the continued strong growth of Honey Birdette and Playboy e-commerce.Net loss was $264.7 million and adjusted EBITDA was $0.8 million, largely driven by non-cash asset impairment charges related to the write-down of goodwill, trademarks and other assets of $301.9 million. Webcast DetailsThe Company will host a webcast at 5:00 p.m. Eastern Time today to discuss the third quarter 2022 financial results. Participants may access the live webcast on the events section of the PLBY Group, Inc. Investor Relations website at https://www.plbygroup.com/investors/events-and-presentations. About PLBY Group, Inc.PLBY Group, Inc. is a global pleasure and leisure company connecting consumers with products, content, and experiences that help them lead more fulfilling lives. PLBY Group’s flagship consumer brand, Playboy, is one of the most recognizable brands in the world, driving billions of dollars annually in global consumer spending with products and content available in approximately 180 countries. PLBY Group’s mission — to create a culture where all people can pursue pleasure — builds upon almost seven decades of creating groundbreaking media and hospitality experiences and fighting for cultural progress rooted in the...