PLBY News & Events

Playboy announced that it entered into a definitive agreement to repurchase approximately 16.6M shares of its common stock - the entire equity position held by funds managed by affiliates of Fortress Investment Group at a fixed price of $1.05 per share, for total consideration of approximately $17.4M. Under the terms of the agreement, Playboy paid $2M at execution and will pay the remaining approximately $15.4M in three scheduled installments through December 31, 2026, at a fixed price of $1.05 per share. The Company may accelerate purchases at any time at its discretion. During the term of the agreement, Fortress has agreed not to sell, transfer, or otherwise dispose of the shares subject to the agreement. The agreement is fully backstopped by an affiliate of Rizvi Traverse Management and The Million, who have agreed to purchase the shares directly from Fortress, pro rata based on their current Playboy stockholdings, to the extent the company does not.

Reports Q1 revenue $30.2M, consensus $30.71M. Ben Kohn, Chief Executive Officer of Playboy, commented, "Playboy delivered a strong start to 2026, marked by continued revenue growth, a fifth consecutive quarter of positive Adjusted EBITDA, and meaningful progress across each of our strategic pillars. The initial closing of our partnership with UTG enabled us to immediately pay down $15 million of senior debt, further strengthening our balance sheet, with almost $37 million of additional UTG proceeds earmarked for debt reduction. We enter the remainder of 2026 with significant momentum. Our licensing foundation remains highly predictable, anchored by contractual guarantees and almost $333 million in unrecognized future licensing revenue. Honey Birdette is growing while maintaining margins, and our content engine is driving audience growth through Playboy magazine and related programming."

Reports Q4 revenue $34.91M, consensus $33.52M. Ben Kohn, CEO of Playboy, commented, "Our strong 2025 results reflect a successful transformation into a focused, asset-light platform. We delivered revenue growth and further streamlined our balance sheet, all while advancing each of our four strategic pillars, with a clear path to pay down a further $52 million in debt through our licensing partnership with UTG."