Filing Flows › Playboy (PLBY) › Q1 2025
Playboy (PLBY) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
Playboy (PLBY) reported revenue of $28.9M for the first quarter 2025 (Q1 2025), +2% from a year earlier and -65% from the quarter before. Operating margin was -21.7%, net loss $9.0M (31.3% of revenue).
Playboy, Q1 2025: revenue $28.9M (+2% year over year), operating margin -21.7%, net loss $9.0M, operating cash flow −$7.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $28.9M | -65% | +2% |
| Operating profit | −$6.3M | — | — |
| Net earnings | −$9.0M | — | — |
| Operating cash flow | −$7.6M | — | — |
What changed
Revenue was $28.9M in Q1 2025, up 2% year over year and down 65% from the previous quarter. Consumer products was the largest line at 57% of revenue. Trademark licensing added $7.2M year over year (up 175%), 1302% of the total change. Digital subscriptions and products declined 77%.
Gross margin was 68.6%, up 12.8 points from a year earlier. Operating costs exceeded revenue by $6.3M, an operating margin of -21.7%. Operating expenses grew 5% against revenue growth of 2%. The fastest-growing cost line was SG&A (+15%). The quarter ended with a net loss of $9.0M, narrower than the previous quarter's $12.5M loss.
Operating cash flow was −$7.6M. Non-cash charges added back $804K of depreciation and amortization and $687K of share-based compensation. Capital expenditures of $34K exceeded it, leaving free cash flow of −$7.7M.
Questions
What was Playboy's revenue in the first quarter 2025?
Playboy (PLBY) reported revenue of $28.9M for the first quarter 2025 (Q1 2025), +2% from a year earlier and -65% from the quarter before.
Was Playboy profitable in the first quarter 2025?
Operating loss was $6.3M (-21.7% of revenue) and net loss $9.0M.
Source: Playboy 10-Q on SEC EDGAR.