---
schema_version: "secwatch.filing_event.v1"
accession: "0001803914-25-000085"
form_type: "8-K"
ticker: "PLBY"
cik: "0001803914"
company_name: "Playboy, Inc."
filed_at: "2025-05-15T23:59:59+00:00"
generated_at: "2026-05-21T05:31:26.624669+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# PLBY Group Q1 2025 revenue $28.9M, net loss narrows to $9.0M, adj. EBITDA turns positive

## Summary
- Revenue $28.9M (+2% YoY); licensing rev. $11.4M (+175% YoY) on Byborg deal and China rebuild.
- Net loss $9.0M (improvement of $7.4M); adj. EBITDA $2.4M vs -$2.5M in Q1 2024, first positive since 2023.
- Honey Birdette rev. $16.3M (-13% YoY) due to fewer sale days; full-price sales +8%, gross margin 58% vs 52%.
- Byborg deal: $5M guaranteed royalties in Q1, $20M/yr for 15 yrs; $3.8M transition costs incurred, $20M due by July 1.
- Cash $23.7M, long-term debt $155.1M; operating expenses down 6% YoY to $35.1M.

## SEC filing metadata
- accession: 0001803914-25-000085
- form_type: 8-K
- ticker: PLBY
- cik: 0001803914
- company_name: Playboy, Inc.
- filed_at: 2025-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1803914/000180391425000085/0001803914-25-000085-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1803914/000180391425000085/ply-20250515.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001803914-25-000085
- JSON: https://secwatch.observer/filing/0001803914-25-000085.json
- Plain text: https://secwatch.observer/filing/0001803914-25-000085.txt

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