Playboy | 10-Q: FY2025 Q3 Revenue: USD 28.99 M

LB filings
2025.11.12 21:59
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Revenue: As of FY2025 Q3, the actual value is USD 28.99 M.

EPS: As of FY2025 Q3, the actual value is USD 0, beating the estimate of USD -0.02.

EBIT: As of FY2025 Q3, the actual value is USD 3.292 M.

Direct-to-Consumer Segment

  • Net Revenues: $16.4 million for the three months ended September 30, 2025, compared to $16.6 million for the same period in 2024, a decrease of 1%.
  • Cost of Sales: $6.4 million for the three months ended September 30, 2025, compared to $7.7 million for the same period in 2024, a decrease of 16%.
  • Gross Profit: $10.0 million for the three months ended September 30, 2025, compared to $8.9 million for the same period in 2024, an increase of 12%.
  • Gross Margin: 61% for the three months ended September 30, 2025, compared to 54% for the same period in 2024.

Licensing Segment

  • Net Revenues: $12.0 million for the three months ended September 30, 2025, compared to $7.4 million for the same period in 2024, an increase of 61%.
  • Cost of Sales: $0.5 million for the three months ended September 30, 2025, compared to $1.5 million for the same period in 2024, a decrease of 65%.
  • Gross Profit: $11.5 million for the three months ended September 30, 2025, compared to $5.9 million for the same period in 2024, an increase of 94%.
  • Gross Margin: 96% for the three months ended September 30, 2025, compared to 80% for the same period in 2024.

Corporate and All Other

  • Corporate Revenues: $0.1 million for the three months ended September 30, 2025, compared to $0.1 million for the same period in 2024.
  • All Other Revenues: $0.5 million for the three months ended September 30, 2025, compared to $5.4 million for the same period in 2024, a decrease of 90%.

Future Outlook and Strategy

  • Core Business Focus: The company is focusing on a more capital-light business model, leveraging its flagship Playboy brand to attract best-in-class operators and expanding its licensing business into new categories and territories with high-quality strategic partners.
  • Non-Core Business: The company has transitioned its digital subscriptions and content operations into a licensing model with Byborg Enterprises SA, effective January 1, 2025, under a License & Management Agreement (LMA) with minimum guaranteed royalties of $20 million per year.
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