PLBY Q1 revenue $51.4M, net loss $37.7M; exits consumer products, focuses on creator platform

Playboy, Inc.

2023-Q1 EPS reported -$0.58 revenue$51,441,000

Q1 revenue $51.4M ($52.0M constant currency); net loss $37.7M; adjusted EBITDA loss $10.8M.
Creator platform GMV grew 2.4x vs Q4; weekly GMV CAGR >10% since year start.
Restructured debt to ~$210M (from ~$216M incl. preferred); saved >$3M annual interest; no fees.
Exiting consumer products: sold Yandy; binding term sheet to outsource Playboy e-commerce.
Exploring strategic alternatives for Lovers (Sage Group) and Honey Birdette (Moelis).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Playboy, Inc. reported first quarter ended March 31, 2023 results: revenue $51.4 million, net income $37.7 million.

Period: first quarter ended March 31, 2023
Revenue: $51.4 million
Net income: $37.7 million
Result: reported results

Exact text from the filing

First Quarter 2023 Financial Highlights • Revenue for the first quarter of 2023 (Q1’23) was $51.4 million and, on a constant currency basis, would have been $52.0 million. • Net loss was $37.7 million and adjusted EBITDA loss was $10.8 million, which included $6.7 million of losses related to Yandy, Playboy e-commerce, inventory write-downs and the deferral of revenue related to cash collections from China given contract renegotiations.

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Source: SEC EDGAR

accession 0001803914-23-000048

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