The earnings call highlighted Playboy's first positive net income since going public and significant licensing revenue growth, alongside strong performance from Honey Birdette. However, these positives were tempered by high litigation expenses and financial constraints due to debt servicing costs. Despite some challenges in international engagement, the company's strategic partnerships and content-driven growth strategy suggest a cautiously optimistic outlook.
Company Guidance
During the third quarter of 2025, Playboy, Inc. reported a revenue of $29 million, achieving a net income of $500,000 and an adjusted EBITDA of $4.1 million, which included $2.5 million in litigation expenses. Excluding these expenses, adjusted EBITDA would have been $6.6 million. Licensing revenue increased by 61% year-over-year, buoyed by six new deals in the quarter and a restructuring of their China partnership. Honey Birdette saw a 22% rise in comparable store sales and a significant gross margin expansion of 700 basis points, from 54% to 61%, partly due to reduced promotional events and a 15% increase in full-price item sales. Looking forward, Playboy is focusing on three verticals: licensing, media and experiences, and hospitality, with plans to expand content offerings and capitalize on new licensing opportunities. The company ended the quarter with over $32 million in cash and extended its debt maturity to 2028, positioning itself for growth without significant investment.
Positive Net Income
The third quarter of 2025 marked Playboy, Inc.'s first quarter of positive net income since going public, totaling $500,000.
Licensing Revenue Growth
Licensing revenue increased by 61% year over year, with six new licensing deals signed during the quarter.
Honey Birdette Performance
Honey Birdette's comparable store sales grew 22% year over year, and gross margins expanded by 700 basis points from 54% to 61%.
Litigation Success
Playboy was awarded $81 million in damages through a Hong Kong arbitration against a former Chinese licensee.
Strategic Partnerships
Signed two new deals for media and entertainment content with Cooper Hefner and Ben Silverman’s Propagate Content.
Playboy (PLBY) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PLBY Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Nov 12, 2025
$1.36
$1.66
+22.06%
Aug 12, 2025
$1.65
$1.82
+10.30%
May 15, 2025
$1.17
$1.55
+32.48%
Mar 13, 2025
$1.21
$1.22
+0.83%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Playboy (PLBY) report earnings?
Playboy (PLBY) is schdueled to report earning on Mar 12, 2026, After Close (Confirmed).
What is Playboy (PLBY) earnings time?
Playboy (PLBY) earnings time is at Mar 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.