PLBY Group, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024, on March 13, 2025. For Q4 2024, total revenue was $33.5 million, a 15% decrease from $39.4 million in Q4 2023, primarily due to a $5.1 million revenue acceleration in Q4 2023 from a terminated Chinese licensing partner. The net loss was $12.5 million, compared to a $9.6 million net loss in Q4 2023, while Adjusted EBITDA loss was $0.1 million, improving from $1.1 million in Q4 2023, and would have been $2.6 million excluding foreign currency losses.
Full year 2024 total revenue was $116.1 million, down 19% from $143.0 million in 2023, largely due to reductions in licensing revenue from terminated China partners and the transition of the playboy.com e-commerce business. The net loss improved to $79.4 million from $180.4 million in 2023, and Adjusted EBITDA loss improved to $6.3 million from $7.3 million in 2023.
As of December 31, 2024, the company reported $30.9 million in cash and cash equivalents, and total long-term debt, net of unrestricted cash, was $122.2 million, a reduction from $183.5 million at the end of 2023. For 2025, PLBY Group expects approximately $120 million in revenue, with 86% of licensing revenue secured through contracted guaranteed minimums, and anticipates generating positive adjusted EBITDA and cash flow after first-half transition costs.
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