---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-018172"
form_type: "8-K"
ticker: "PLBY"
cik: "0001803914"
company_name: "Playboy, Inc."
filed_at: "2026-03-16T23:59:59+00:00"
generated_at: "2026-05-15T11:53:42.926666+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Playboy Q4 revenue $34.9M, net income $3.6M; UTG China deal $122M

## Summary
- Q4 revenue $34.9M (+4% YoY); net income $3.6M vs $12.5M loss; adjusted EBITDA $7.1M.
- FY 2025 revenue $120.9M (+4%); net loss improved to $12.7M from $79.4M; adjusted EBITDA $17.0M.
- UTG partnership: $122M cash including $45M purchase for 50% of China licensing; $52M debt paydown.
- Honey Birdette Q4 sales +9%, gross margin 77.8%; licensing 90% contractual with $343M unrecognized future revenue.
- Appointed David Miller as President, Media & Brand; Phillip Picardi as Chief Brand Officer.

## SEC filing metadata
- accession: 0001628280-26-018172
- form_type: 8-K
- ticker: PLBY
- cik: 0001803914
- company_name: Playboy, Inc.
- filed_at: 2026-03-16T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1803914/000162828026018172/0001628280-26-018172-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1803914/000162828026018172/ply-20260316.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-018172
- JSON: https://secwatch.observer/filing/0001628280-26-018172.json
- Plain text: https://secwatch.observer/filing/0001628280-26-018172.txt

## Key facts
- Earnings Releases
  Playboy, Inc. reported full year ended December 31, 2025 results: revenue $120.9 million, net income $12.7 million.
  - Period: full year ended December 31, 2025
  - Revenue: $120.9 million
  - Net income: $12.7 million
  - Result: reported results
  source text: Full Year 2025 Financial Results Revenue increased to $120.9 million compared to $116.1 million in 2024, reflecting a year-over-year increase of $4.8 million, or 4%, primarily due to the continued strength of Playboy’s licensing business and higher Honey Birdette revenue. Operating expenses decreased to $129.0 million, as compared to $167.0 million in 2024, reflecting a year-over-year decrease of $38.0 million. The decrease was due primarily to a $22.0 million decrease in expenses related to the revamp of our digital businesses and lower non-cash asset impairment charges of $24.0 million, partly offset by higher severance of $1.8 million due to the reduction of headcount, a one-time settlement expense of $2.4 million and higher legal expenses and fees of $3.0 million due to additional litigation expenses. Net loss improved to $12.7 million, as compared to a net loss of $79.4 million in 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1803914/000162828026018172/0001628280-26-018172-index.htm
- Earnings Releases
  Playboy, Inc. reported fourth quarter ended December 31, 2025 results: revenue $34.9 million, net income $3.6 million, EPS $0.03 per share.
  - Period: fourth quarter ended December 31, 2025
  - Revenue: $34.9 million
  - Net income: $3.6 million
  - EPS: $0.03 per share
  - Result: reported results
  source text: Playboy Reports Fourth Quarter and Full Year 2025 Financial Results Q4 Revenue of $34.9 Million, Net Income of $3.6 Million & Adjusted EBITDA of $7.1 Million, or $8.0 Million Excluding Litigation Expenses
  evidence_url: https://www.sec.gov/Archives/edgar/data/1803914/000162828026018172/0001628280-26-018172-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.