PLBY Q2 revenue down 29% to $24.9M; net loss improves to $16.7M; enters exclusivity to repay senior debt at discount

Playboy, Inc.

2024-Q2 EPS reported -$0.45 revenue$53,204,000

Revenue $24.9M vs $35.1M YoY; licensing revenue fell 49% to $5.3M due to China licensee terminations.
Net loss from continuing operations $16.7M vs $132.3M loss in Q2 2023 (prior year included $146.2M impairment).
Adjusted EBITDA loss $2.9M vs $0.1M loss YoY, driven by lower licensing EBITDA and Honey Birdette decline.
Senior lenders granted exclusivity period to repay debt at a significant discount; engaged investment bank for new financing.
Signed $45M+ in new licensing minimum guarantees; Playboy magazine returning early 2025 with global Playmate search.

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