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GlobeNewswire·

Playboy Reports Fourth Quarter and Full Year 2025 Financial Results

  • Playboy Inc. reported Q4 2025 revenues of $34.9 million, a 4% increase from $33.5 million in Q4 2024.
  • Q4 2025 net income turned positive at $3.6 million compared to a $12.5 million loss in the prior year quarter.
  • Adjusted EBITDA for Q4 2025 was $7.1 million, reversing a $0.1 million loss from Q4 2024.
  • Full year 2025 revenue reached $120.9 million, up 4% from $116.1 million in 2024.
  • Operating expenses for the full year 2025 decreased to $129.0 million from $167.0 million in 2024 due to reduced digital business revamp costs and lower asset impairment charges.
  • Full year 2025 net loss narrowed to $12.7 million from $79.4 million in 2024.
  • Full year 2025 Adjusted EBITDA improved to $17.0 million from a $6.3 million loss in 2024.
  • Licensing revenue remains predictable with 90% of 2025 revenue backed by contractual guarantees and over $343 million in unrecognized future revenue.
  • Honey Birdette posted 9% sales growth in Q4 2025 with a gross margin of 77.8% and a loyalty program reaching approximately 80,000 members.
  • Playboy announced a $122 million partnership with UTG Brands Management Group for its China licensing business, including a $45 million purchase for 50% of the business.
  • Senior debt was reduced by nearly $58 million to $160 million between Q3 2024 and Q4 2025.
  • Approximately $52 million from UTG payments will be used to further pay down debt in Q1 2026.
  • The company selected an operating partner for the Miami Beach Playboy Club and signed a non-binding letter of intent to raise capital for the build-out.
  • David Miller was appointed President, Media & Brand, and Phillip Picardi was appointed Chief Brand Officer and Editor-in-Chief.
  • Cash on the balance sheet increased to $42.8 million as of December 31, 2025, from $33.3 million a year earlier.
  • Management confirmed a conference call for March 16, 2026, at 5:00 p.m. Eastern time to discuss results.