Plby Group Inc Stock Price, News & Analysis

PLBY Group, Inc. (NASDAQ: PLBY) announced a public offering of 4,000,000 shares of its common stock. The company plans to utilize the proceeds for future growth opportunities, including potential acquisitions and general corporate purposes. Additionally, PLBY Group may allow underwriters to purchase up to 600,000 additional shares. The offering is subject to market conditions and has not yet been finalized. Canaccord Genuity and Stifel are leading the offering, with several other firms acting as co-managers.

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.