Filing Flows › Playboy (PLBY) › Q2 2025
Playboy (PLBY) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 12, 2025
Playboy (PLBY) reported revenue of $28.1M for the second quarter 2025 (Q2 2025), +13% from a year earlier and -3% from the quarter before. Operating margin was -20.9%, net loss $7.7M (27.3% of revenue).
Playboy, Q2 2025: revenue $28.1M (+13% year over year), operating margin -20.9%, net loss $7.7M, operating cash flow −$3.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $28.1M | -3% | +13% |
| Operating profit | −$5.9M | — | — |
| Net earnings | −$7.7M | — | — |
| Operating cash flow | −$3.9M | — | — |
What changed
Revenue was $28.1M in Q2 2025, up 13% year over year and down 3% from the previous quarter. Trademark licensing was the largest line at 59% of revenue. Trademark licensing added $11.2M year over year (up 209%), 342% of the total change. Consumer products declined 99%.
Gross margin was 65.4%, down 2.4 points from a year earlier. Operating costs exceeded revenue by $5.9M, an operating margin of -20.9%. Operating expenses fell 7% while revenue rose 13%. The fastest-growing cost line was Other operating costs (+231%). The quarter ended with a net loss of $7.7M, narrower than the previous quarter's $9.0M loss.
Operating cash flow was −$3.9M. Non-cash charges added back $778K of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items added $1.3M. Capital expenditures of $395K exceeded it, leaving free cash flow of −$4.3M.
Questions
What was Playboy's revenue in the second quarter 2025?
Playboy (PLBY) reported revenue of $28.1M for the second quarter 2025 (Q2 2025), +13% from a year earlier and -3% from the quarter before.
Was Playboy profitable in the second quarter 2025?
Operating loss was $5.9M (-20.9% of revenue) and net loss $7.7M.
Source: Playboy 10-Q on SEC EDGAR.