Playboy, Inc. operates as a leading media and lifestyle enterprise. It engages consumers globally, providing an array of products, services, and experiences ...
PLBY Group, Inc., known for the iconic Playboy brand, is a leading media and lifestyle enterprise that connects consumers globally with products and experiences aimed at enhancing appearance, well-being, and enjoyment. The company operates across several key market segments: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & ...PLBY Group, Inc., known for the iconic Playboy brand, is a leading media and lifestyle enterprise that connects consumers globally with products and experiences aimed at enhancing appearance, well-being, and enjoyment. The company operates across several key market segments: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming. Its core offering includes the famous men's magazine, which features photography, humor, and commentary on current affairs, but the modern business has expanded into licensing, digital content, and e-commerce. Since its founding in 1953 by Hugh Hefner in Chicago, the brand has evolved, undergoing a corporate repositioning in 2022 to become PLBY Group. The company is currently led by CEO Ben Kohn, who drives growth strategy. Financially, PLBY has a market cap of approximately $136.8 million as of the latest data, with a price-to-sales ratio of 1.09 and an EV/EBITDA of 9.06. Its gross profit margin is high at 72.7%, reflecting the asset-light licensing model, though net profit margin is only 1.9% due to operational costs. The company has 199 full-time employees, a small team relative to its global brand reach. Key financial metrics show a current ratio of 0.79, indicating potential liquidity challenges, and a high financial leverage ratio of 13.1, though net debt to EBITDA is negative, suggesting net cash position. The business is focusing on streamlining operations, reducing costs, and capitalizing on the Playboy brand across multiple verticals. Despite facing challenges, PLBY continues to be a culturally significant brand with growth potential in the lifestyle and wellness sectors. The company's long-term strategy involves expanding its licensing partnerships, enhancing its direct-to-consumer sales, and entering new product categories, all while maintaining the brand's iconic status. As of the latest data, the stock trades at $1.18, near its 52-week low of $1.081, reflecting investor sentiment amid ongoing turnaround efforts. Employee count has been stable around 199, with some fluctuation reported by other sources. The company's website provides investor relations for further details.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$120.9M
+4.1%
+3.2%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-12.7M
+84.0%
+105.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+71.0%
+10.9%
+6.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-4.9%
+88.8%
+283.1%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-10.5%
+84.7%
+104.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-1.0M
+95.3%
+93.6%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-0.8%
+95.5%
+93.8%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
1068.5%
+140.9%
+51.4%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.03x
-0.3%
-20.5%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good afternoon. Thank you for standing by. Welcome to Playboy Inc.'s Second Quarter 2026 Earnings Conference Call. [Operator Instructions] This conference is being recorded today, Monday, August 10, 2026, and the earnings press release and Form 10-Q for which information may be referenced during this conference call were issued after the market closed today. On our call today are Playboy Inc.'s Chief Executive Officer, Ben Kohn; and Chief Financial Officer and Chief Operating Officer, Marc Crossman. I'd like to remind you that the information discussed today is qualified in its entirety by the Form 8-K and Form 10-Q filed today by Playboy Inc., which may be accessed on the SEC's website and on Playboy Inc.'s website. Please note that statements made during this call, financial projections and other statements that are not historical in nature may constitute forward-looking statements. Such statements are made on the basis of Playboy Inc.'s reviews and assumptions regarding future events and business performance at the time they are made, and we do not undertake any obligation to update them. Forward-looking statements are subject to risks, which could cause the company's actual results to differ from its historical results and forecasts, including those risks set forth in the SEC filings, and you should refer to and carefully consider those for more information. This cautionary statement applies to all forward-looking statements made during this call. Do not place undue reliance on any forward-looking statements. In addition, throughout today's call, the company may refer to adjusted EBITDA, a non-GAAP financial measure, which it believes provides helpful information to investors about the performance of the business on an ongoing basis. Reconciliation of adjusted EBITDA to its most directly comparable GAAP financial measure is included in today's earnings release, which is available on Playboy Inc. Investor Relations website. At this time, I would like to turn the call over to Playboy Chief Executive Officer, Ben Kohn. Ben, the floor is yours.
Ben Kohn: Thank you, operator, and good afternoon, everyone. I appreciate you joining us. Two years ago, we articulated a clear strategy: make the Playboy brand culturally relevant, build a profitable asset-light business model with significant growth potential around 3 verticals: licensing, media and experiences and hospitality, alongside Honey Birdette, all while deleveraging the balance sheet. Two years on, we are executing and the balance sheet is dramatically stronger. The second quarter is the clearest evidence yet that the strategy is working. We are culturally relevant, we are profitable, and we have set the stage for significant growth, testing, measuring what actually converts, leaning into what works and being fiscally responsible with every dollar. Let me take the pieces one at a time. Starting with the results, because they are the truest test of any strategy. Revenue grew to …
