LOS ANGELES, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Playboy, Inc. (Nasdaq: PLBY) (the “Company” or “Playboy”), one of the most recognizable and iconic brands in the world, announced today that management will participate in the 9th Annual Lake Street Capital Markets Best Ideas Growth (BIG9) Conference taking place in New York City on September 11, 2025. Ben Kohn, CEO, will be available for one-on-one meetings with attending investors throughout the day. To schedule a one-on-one meeting with management, investor ...

Core Viewpoint - Playboy, Inc. has successfully converted all remaining Series B Convertible Preferred Stock into common stock, reflecting its ongoing efforts to improve its balance sheet and reduce debt [1][2][3] Group 1: Conversion Details - The conversion resulted in 12,439,730 shares of common stock being issued at a conversion price of $1.74448 per share, which is over 6% higher than the common stock's closing price on August 21, 2025 [2] - The conversion price also represents a more than 16% premium compared to the price during the company's private placement of common stock in Q4 2024 [2] - Following the conversion, Playboy has no preferred stock outstanding and a total of 107,548,055 shares of common stock [2] Group 2: Financial Impact - As of the conversion date, the company reported approximately $128 million in net debt, which is a reduction of about $70 million over the past year [2] - The Board of Directors believes the company's share price is undervalued and anticipates undiscounted interest savings of $6.992 million through the remaining term of the Series B Stock, which was set to mature at the end of 2027 [3] Group 3: Company Overview - Playboy, Inc. is a global pleasure and leisure company with a mission to create a culture where all people can pursue pleasure, operating in approximately 180 countries [4] - The company has a history of over 70 years in creating media and hospitality experiences while advocating for cultural progress based on equality and freedom of expression [4]

Core Viewpoint - Playboy, Inc. reported a significant improvement in its financial performance for Q2 2025, with a focus on transforming into an asset-light business model centered around its iconic brand [2][3]. Financial Performance - Total revenue for Q2 2025 was $28.1 million, representing a 13% increase from $24.9 million in Q2 2024 [4]. - Licensing revenue surged to $10.9 million, a 105% increase from $5.3 million in Q2 2024, driven by new licensing partnerships and renegotiated agreements [5]. - Direct-to-consumer revenue reached $16.5 million, up 14% from $14.5 million in Q2 2024, attributed to improved consumer perception of the Honey Birdette brand [6]. - The net loss narrowed to $7.7 million, compared to a net loss of $16.7 million in Q2 2024, reflecting a significant improvement of $9.0 million [7]. - Adjusted EBITDA was $3.5 million, an improvement from an adjusted EBITDA loss of $2.9 million in Q2 2024 [8]. Operational Highlights - The company experienced a 14% revenue increase from Honey Birdette, with same-store sales rising by 28% and gross margins improving by approximately 200 basis points to 59% [3]. - The launch of the Great Playmate Search and plans for a Playboy hospitality venue in Miami Beach indicate new growth opportunities [3]. - The company holds over $30 million in cash, positioning it to explore deleveraging opportunities and reduce leverage costs [3].