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Playboy cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$946K in Q3 2026 · −$6.1M over twelve months

Operating cash flow$946K
Free cash flow+$946K
Cash / net income0.5×
Cash conversion cycle20 days

Analysis

In Q3 2026, Playboy generated $946K of operating cash flow. That is $8.9M less than in Q3 2025 ($9.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$6.1M; the largest uses were other financing ($21.1M), operating cash flow ($6.1M); besides operations, cash came from shares issued ($15.6M), other investing ($14.1M); the cash balance rose by $2.6M.

Operating cash flow was $946K against net income of $1.9M — 0.5× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$4.2M, contract assets +$2.8M, stock-based pay +$2.2M.

Its cash conversion cycle was 20 days (receivables 24 + inventory 141 − payables 145).

Free cash flow

Playboy: free cash flow by quarterPlayboy: free cash flow by quarter−$401KQ4 2024−$7.7MQ1 2025−$4.3MQ2 2025$9.8MQ3 2025$1.1MQ4 2025−$8.7MQ1 2026−$571KQ2 2026$946KQ3 2026
Operating cash flow less capital spending.
Playboy: operating cash flow against capital spendingPlayboy: operating cash flow against capital spendingOperating cash flowCapital spending$161K$562KQ4 2024−$7.6M$34KQ1 2025−$3.9M$395KQ2 2025$10.1M$317KQ3 2025$1.4M$278KQ4 2025−$8.1M$632KQ1 2026−$414K$157KQ2 2026$946K$0Q3 2026
Latest (Q3 2026): Operating cash flow $946K, Capital spending $0.

Capital allocation, year by year

Playboy: where the cash came from (up) and went (down), by fiscal yearPlayboy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$36.7MFY2021: Net borrowing $236MFY2021: Shares issued $205MFY2021: Capital spending −$17.5MFY2021: Acquisitions −$256M$441MFY2021FY2022: Operating cash flow −$59.4MFY2022: Shares issued $50.2MFY2022: Capital spending −$7.4M$50.2MFY2022FY2023: Operating cash flow −$43.3MFY2023: Net borrowing $11.8MFY2023: Shares issued $47.6MFY2023: Capital spending −$3.5MFY2023: Buybacks −$1.0M$59.4MFY2023FY2024: Operating cash flow −$19.1MFY2024: Capital spending −$2.3MFY2024FY2025: Operating cash flow $18KFY2025: Shares issued $10.3MFY2025: Capital spending −$1.0M$10.3MFY2025
Over these 5 years operating cash flow totalled −$159M; the largest uses were acquisitions ($256M) and operating cash flow ($159M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$29.7M
Debt$154M
Net debt$125M
Due within a year$18.3M
Cash runway4.8 years

Playboy is burning cash: its operations consume cash, a free cash flow of −$6.1M a year at the current rate against $29.7M of cash and investments: a runway of about 4.8 years; $18.3M of debt also comes due within a year, which the cash covers before any new financing.

Where the cash came from and went

Playboy: sources (+) and uses (−) of cash, Q3 2026Playboy: sources (+) and uses (−) of cash, Q3 2026Buybacks−$3.0MCash drawn (+) / kept (−)$2.2MOperating cash flow$946KOther investing−$396KShares issued$329KOther financing−$163KExchange rates$79K
Playboy: sources (+) and uses (−) of cash, TTM to Q3 2026Playboy: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing−$21.1MShares issued$15.6MOther investing$14.1MOperating cash flow−$6.1MCash drawn (+) / kept (−)−$2.6MNot reconciled$187K

From profit to cash

Playboy: net income to operating cash flow, Q3 2026Playboy: net income to operating cash flow, Q3 2026Net income$1.9MDepreciation & amortization$729KStock-based pay$2.2MDeferred taxes$1KOther non-cash$472KReceivables−$4.2MInventory−$154KPayables−$1.1MContract assets$2.8MOther operating capital−$86KOperating cash flow$946K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20262414114520
Q2 2026151231298
Q1 20261211511314
Q4 20251010310014
Q3 2025101011047
Q2 20251172802
Q1 202518851021
Q4 20241642104-46

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$946K—−$3.0M—$329K$2.2M$946K
Q2 2026−$414K−$157K——$2.7M−$2.5M−$571K
Q1 2026−$8.1M−$632K—−$15.0M$2.5M$8.1M−$8.7M
Q4 2025$1.4M−$278K——$10.0M−$10.5M$1.1M
Q3 2025$10.1M−$317K——$254K−$10.6M$9.8M
Q2 2025−$3.9M−$395K———$3.9M−$4.3M
Q1 2025−$7.6M−$34K———$7.7M−$7.7M
Q4 2024$161K−$562K———−$21.4M−$401K

Playboy: income statement and cash flow

Playboy, Q3 2026: revenue $31.7M (+9% year over year), operating margin 12.6%. The chart follows the revenue to costs, profit and cash.

Playboy: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.