Playboy, Inc. Q3 FY25 Results

“The third quarter marks our third consecutive quarter of growing adjusted EBITDA and further demonstrates the potential of our high-margin, asset-light model. It’s important to note that Q3 adjusted EBITDA was burdened by $2.5 million of litigation costs, and would’ve been $6.6 million without such expense. Adjusting for one-time revenue items in Q3 2024, revenue would have been up 4.2% for Q3 2025, and high-margin licensing revenue was up 61% year-over-year. Even with the impact of our litigation expenses, this quarter was our first quarter since going public to have net income. The improving profitability we have delivered throughout 2025 reflects the hard work our team has put into stabilizing the business.” “In addition, we ended the quarter with over $32 million in cash on our balance sheet, and also opportunistically amended our debt facility, extending the maturity until May 2028 and providing for interest rate reductions based on certain prepayments.” “With a healthier balance sheet, and a stable foundation now in place, we are focused on reigniting growth. Our strategy centers on three high-potential verticals: licensing, media and experiences, and hospitality. Each is designed to expand Playboy’s global reach while generating recurring, high-margin revenue. The momentum we are seeing across initiatives like The Great Playmate Search, the re-launch of our magazine, and the planned Miami Beach membership club, all highlight the strength and versatility of the Playboy brand. We remain highly optimistic about the opportunities ahead for Playboy.”