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PLBY Group, Inc. (NASDAQ:PLBY) reported its fourth-quarter financial results after the bell Wednesday. Here's a look at the highlights.
The Details: The company reported quarterly losses of 5 cents per share which beat the analyst consensus estimate of losses of 14 cents by 64.29%.
Quarterly sales clocked in at $39.364 million, beating the analyst consensus estimate of $32.275 million by 21.96%
Digital subscriptions and content revenue were up 22% year-over-year, to $5.6 million from $4.6 million. Revenue growth from the company’s creator platform more than offset a decrease in its legacy digital business revenue.
The company reported a total net loss for the fourth quarter of $3.8 million, an improvement of $6.4 million from a total net loss of $10.2 million from the same quarter last year.
“In 2023, we worked on five main goals. First, restructure the Company and move to a capital-light business model; second, reduce overhead; third, stabilize and reposition Honey Birdette back to a premium brand; fourth, move our China business to a JV model with better accountability and control; and fifth, grow our creator platform, the Playboy Club. We made major progress on all five goals in 2023,” commented Ben Kohn, CEO of PLBY Group.
PLBY Price Action: According to Benzinga Pro, PLBY Group shares are up 4.88% after-hours at $1.02 at the time of publication Wednesday.
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Photo: Courtesy of PLBY Group, Inc.
Posted In: PLBY
