Welcome to our dedicated page for Plby Group news (Ticker: PLBY), a resource for investors and traders seeking the latest updates and insights on Plby Group stock.
PLBY Group, Inc. (symbol: PLBY) is a globally recognized company that connects consumers with a diverse range of products, services, and experiences designed to enhance their lifestyle. Operating in four main categories—Style and Apparel, Digital Entertainment and Lifestyle, Sexual Wellness, and Beauty and Grooming—PLBY Group leverages its iconic brand to drive revenue across multiple segments.
PLBY Group's business model is structured into three key segments: Direct-to-Consumer, Licensing, and Digital Subscriptions and Content. The company's Direct-to-Consumer segment offers products directly to customers via online platforms and retail stores, focusing on high-quality apparel and personal care items. The Licensing segment involves partnerships with other brands to extend the reach and visibility of PLBY’s diverse product lines globally. Additionally, the Digital Subscriptions and Content segment provides exclusive content and lifestyle experiences, catering to a broad spectrum of consumer interests.
In recent news, PLBY Group has made significant strides, ending the third quarter with approximately $22.0 million in restricted and unrestricted cash. This financial stability has allowed the company to focus on executing key goals and shifting towards initiatives aimed at driving profitable growth. CEO Ben Kohn has highlighted improved performance and strategic moves, such as the revitalization of the Playboy brand in China through a major joint venture, showcasing the company's commitment to reinvigorating its global presence.
PLBY Group remains dedicated to helping consumers look good, feel good, and have fun. With ongoing projects and strategic partnerships, the company continues to innovate and adapt to the evolving market trends, ensuring sustained growth and customer satisfaction. For more information or media inquiries, contact press@plbygroup.com.
PLBY Group has successfully completed a $160 million refinancing of its credit facility, maturing in May 2027. The new term loan aims to reduce annual debt service by over $13 million. Key benefits include estimated savings of $3 million in annual interest expenses, and the elimination of over $7 million in excess cash flow sweep payments. The refinancing allows for additional borrowing opportunities to support potential mergers and acquisitions. CFO Lance Barton expressed confidence in the company's position for growth following strong first-quarter results.
PLBY Group reported a 34% year-over-year revenue increase for Q1 2021, reaching $42.7 million, driven by a remarkable 114% growth in direct-to-consumer sales. However, the company faced a net loss of $5.0 million, impacted by rising selling and administrative expenses, including $6.3 million in non-recurring costs linked to a recent business combination. Despite these challenges, the adjusted EBITDA stood at $6.7 million. CEO Ben Kohn expressed optimism about growth potential through merchandising and NFT initiatives, while acknowledging industry-wide supply chain disruptions.
PLBY Group, Inc. (Nasdaq: PLBY) will release its financial results for Q1 2021 on May 12, 2021, after market close. The management will host a conference call at 5:00 p.m. ET on the same day to discuss the results. PLBY Group is recognized for its Playboy brand and operates in categories such as Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming, generating over $3 billion in global consumer spend annually across 180 countries.
PLBY Group has partnered with Nifty Gateway to launch Playboy-themed NFT art collaborations, starting with works by digital artist Slimesunday. This initiative aims to leverage Playboy’s art archive and promote emerging artists in the NFT space. The partnership will also feature a Pride-themed release in June with artist Blake Kathryn. The collaboration emphasizes Playboy's ongoing commitment to artistic expression and diversity, affirming the brand's role in supporting both established and up-and-coming artists while venturing into the blockchain realm.
PLBY Group, Inc. (NASDAQ: PLBY) reported impressive financial results for FY 2020, with revenue rising 89% year-over-year to $148 million, and a 118% increase to $46 million in Q4. Operating income improved by $19.6 million to $13.6 million for the year, while net loss narrowed to $5.3 million. The recent business combination added $100 million to the balance sheet, and the acquisition of Lovers for $25 million enhances PLBY's growth in the sexual wellness sector. For 2021, the company projects revenue to exceed $200 million.
PLBY Group announced its participation in the 33rd Annual ROTH Conference, taking place virtually from March 15-17, 2021. CEO Ben Kohn will host a fireside chat with George Kelly on March 16 at 12:30 p.m. ET. The chat can be accessed live on the PLBY Group Investor Relations website, with a replay available for 90 days.
PLBY Group focuses on connecting consumers with products across categories like Sexual Wellness, Style & Apparel, and Beauty, with the Playboy brand generating over $3 billion globally.
PLBY Group has completed its acquisition of Lovers, a prominent omni-channel retailer in the sexual wellness sector, for $25 million in cash. This acquisition is projected to generate $45 million in revenue and $5 million in Adjusted EBITDA over the next year, benefiting shareholders immediately on a per-share basis. CEO Ben Kohn highlighted this move as a strategic alignment with PLBY's growth plan, enhancing distribution for Playboy-branded products. Barbara Cook, the former CEO of Lovers, joins PLBY as Executive Vice President of Sexual Wellness.
PLBY Group, Inc. (Nasdaq: PLBY) will release its financial results for Q4 and the fiscal year ended December 31, 2020, on March 23, 2021, after market close. The results will be discussed in a conference call at 5:00 p.m. ET the same day. PLBY Group connects consumers with products and services across Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming categories. The Playboy brand drives over $3 billion in global consumer spending annually across 180 countries.
PLBY Group, Inc. announced the appointment of Kevin Diamond as Chief Digital Officer, effective February 24, 2021. Diamond, previously with Forever 21, will enhance PLBY's digital commerce and technology infrastructure.
With experience leading significant e-commerce growth, he aims to advance PLBY's global digital presence. The company, trading on Nasdaq, has over $100 million in unrestricted cash post-merger with Mountain Crest Acquisition Corp, indicating strong financial standing for growth initiatives, including the acquisition of a sexual wellness retailer.
PLBY Group, Inc. (NASDAQ: PLBY) has expanded its finance team by appointing Florus Beuting as Chief Accounting Officer, effective February 8, 2021. Beuting will oversee global accounting operations and report to new CFO Lance Barton starting March 1, 2021. Previously, he held senior roles at Fandango and Snapchat. This appointment follows PLBY Group's recent market debut after merging with Mountain Crest Acquisition Corp, securing over $100 million in cash and setting a flexible capital structure to drive growth in its diverse portfolio, including sexual wellness and apparel products.
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