PLBY Group Q3 Highlights: Playboy Parent Reports 67% Revenue Growth, Highlights Strategic Roadmap And NFTs

Lifestyle company and brand licensor PLBY Group Inc PLBY reported third-quarter financial results Monday after market close. Here are the highlights for investors to know.

What Happened: PLBY Group, which is the owner of Playboy, announced third-quarter revenue of $58.4 million, up 67% year-over-year and beat the consensus estimate of $57.7 million. This marks the fourth consecutive revenue total ahead of the street since completing its SPAC merger.

Direct-to-consumer revenue for the company was $36 million in the third quarter, up 139% year-over-year. Licensing revenue of $16.9 million was up 14% year-over-year.

The company reported adjusted EBITDA of $5.2 million and a net loss of $7.7 million in the third quarter.

“I’m thrilled to report another successful quarter with a 67% increase in revenue, compared to the prior year, driven by continued strength in both direct-to-consumer and licensing,” PLBY Group CEO Ben Kohn said.

“We’ve made meaningful progress against the three pillars of our strategic roadmap: expanding our U.S. direct-to-consumer commerce business, optimizing our licensing partnerships in key territories and categories and driving new recurring revenue growth initiatives.”

Related Link: Playboy Teams With Nifty Gateway For NFTs: What Investors Should Know 

What’s Next: PLBY Group highlighted its upcoming creator-led platform CENTERFOLD.

“We’re very excited to soon launch CENTERFOLD, our new creator-led platform that will empower the creative and influencer community to interact directly with their fans and build their own recurring revenue businesses,” Kohn said.

The company also said its recent NFT Rabbitarrs, will be developed into a membership experience.

PLBY Price Action: The stock closed down 5.2% at $31.01.