PLBY Group Q3 revenue down 21% to $12.9M; signs deal to reduce senior debt by $66M

Playboy, Inc.

2024-Q3 EPS reported -$0.91 revenue$32,824,000

Q3 revenue $12.9M, down 21% YoY; licensing revenue $7.4M, down 32% due to termination of two China licensees.
Net loss from continuing ops $33.8M (vs $7.1M loss in Q3 2023) due to impairment charges and licensing decline.
Adjusted EBITDA loss $1.8M vs positive $1.8M in prior year; cost rationalization partially offset revenue drop.
Signed deal to restructure senior debt reducing principal from ~$218M to ~$152M; will issue $28M convertible preferred with 12% dividend.
Secured $22.35M investment from Byborg at $1.50/sh; non-binding LOI for licensing Playboy digital IP with $300M minimum guarantees over 15 years.

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