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Unless otherwise indicated or the context otherwise requires, references to the Company , we , us , our and other similar terms refer to Playboy, Inc. and its consolidated subsidiaries. Overview Playboy, Inc. (formerly known as PLBY Group, Inc. from February 10, 2021 through June 24, 2025), together with its subsidiaries through which it conducts business, is a pleasure and leisure company.
The business is unprofitable at the operating level (-6.64% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 4.1%, steady but not accelerating.
Negative free cash flow of -$1M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$122M
▲ +4.1% YoY
Net Income (TTM)
-$8M
▲ +84.0% YoY
Op. Margin
-2.79%
▲ +37.1pp YoY
ROIC
-1.30%
▲ +14.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$2M
▲ +95.3% YoY
Op. Cash Flow (TTM)
-$419K
▲ +100.1% YoY
Net Debt
$148M
Cash & Equiv.
$30M
5Y CAGR: -3.9%
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