Playboy Enterprises Inc. (PLBY) stock surged by 19.46% at the last trading close while the PLBY stock continued to rise by 5.59% in the pre-market trading session. The rise in PLBY stock is not followed by any recent news or update. PLBY Group provides products, facilities, and experiences to customers all over the world to make them look good, feel good, and have fun. Sexual Health, Style & Fashion, Gaming & Lifestyle, and Beauty & Grooming are the four main categories that PLBY Group represents.
Financial Results 2020
On March 24, Playboy Enterprises announced its financial results for fourth quarter and full year 2020. Given below is the summary:
- The revenue generated for the full year 2020 was $147.7 and $46.3 million for the fourth quarter which was a rise of 89% and 118% respectively, compared to previous year.
- The operating income for the year 2020 was $13.6 million compared to $19.6 million for the full year 2019. Whereas the operating expense for the fourth quarter 2020 was $4.9 million compared to $8.7 million from the previous year’s fourth quarter.
- The net loss calculated for the year 2020 was $5.3 million compared to $18.3 million for the year 2019, while the net loss for the fourth quarter 2020 was $0.5 million relative to $5.5 million for the previous year’s fourth quarter.
- In 2020, adjusted EBITDA was $28.3 million, including $6.5 million in the fourth quarter. Out-of-period costs totaled $2.2 million in the fourth quarter EBITDA.
The CEO of PLBY Group Ben Kohn said that they are very pleased with their fourth-quarter and full-year 2020 performance. Despite the pandemic’s turbulence, their diversified international operations generated $46 million in fourth-quarter revenue, up 118 percent year over year, and $148 million in full-year revenue, up 89 percent year over year. Their revenue growth increased across the board, due to the expansion of direct-to-consumer digital commerce sales and a 20% annual increase in our highly profitable licensing business.
He further added that in 2021, PLBY is off to a strong start, and they’re increasing their sales forecast to more than $200 million this year. As a high-growth consumer lifestyle business, PLBY’s primary emphasis is on accelerating sales growth in order to provide significant long-term value to our shareholders.