---
schema_version: "secwatch.filing_event.v1"
accession: "0001803914-24-000005"
form_type: "8-K"
ticker: "PLBY"
cik: "0001803914"
company_name: "Playboy, Inc."
filed_at: "2024-03-12T23:59:59+00:00"
generated_at: "2026-06-04T23:13:15.266059+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# PLBY Group restates Q2 & Q3 2023 financials on license contract impairment error; reduces net loss, boosts EBITDA

## Summary
- Restatement corrects impairment of a Chinese license contract; should have reduced deferred revenue, not recorded impairment expense.
- Commission expense reversals reclassified from impairment to cost of sales; no impact on revenue, cash flows, or operations.
- Amended Q2/Q3 10-Qs expected by March 15; Q4 and FY 2023 results to be reported March 27.
- Net loss to decrease, adjusted EBITDA to increase for restated periods; total liabilities to decrease.
- Errors did not affect audited annual financials; company cites no misconduct or override of controls.

## SEC filing metadata
- accession: 0001803914-24-000005
- form_type: 8-K
- ticker: PLBY
- cik: 0001803914
- company_name: Playboy, Inc.
- filed_at: 2024-03-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1803914/000180391424000005/0001803914-24-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1803914/000180391424000005/ply-20240311.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001803914-24-000005
- JSON: https://secwatch.observer/filing/0001803914-24-000005.json
- Plain text: https://secwatch.observer/filing/0001803914-24-000005.txt

## Key facts
- Auditor Changes
  Playboy, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: BDO USA, P.C.
  source text: The Audit Committee and management also discussed this conclusion with the Company’s independent registered public accounting firm, BDO USA, P.C. In the Company’s Original Second Quarter 2023 Form 10-Q and Original Third Quarter 2023 Form 10-Q, the Company impaired a license contract (which was ultimately terminated in the fourth quarter of 2023) and recorded impairment expense in relation thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1803914/000180391424000005/0001803914-24-000005-index.htm

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