Playboy Inc
plbygroup.comWhat Do They Do?
Sells lingerie and other consumer goods directly to shoppers, and licenses Playboy trademarks for products and entertainment to business partners.
10-K for FY2025, filed Mar 16, 2026Our Honey Birdette business currently comprises our entire direct-to-consumer segment. Honey Birdette sells its products, including…View ↗
Direct-to-Consumer, through our owned-and-operated Honey Birdette e-commerce sites and retail stores; and Licensing, including licensing…View ↗
We license the Playboy name, Rabbit Head Design, and other trademarks and related properties to strategic partners around the world. Our…View ↗
How Do They Make Money?
Customers pay Honey Birdette when ordering online or in stores; licensees pay minimum fees in advance, with extra royalties due quarterly when sales exceed the minimum. Playboy’s digital businesses are also licensed, while event payments are usually tied to contract milestones.
10-K for FY2025, filed Mar 16, 2026We generate revenue from the sale of intimates and other apparel and accessories, primarily through our direct-to-consumer channels…View ↗
We license trademarks under multi-year arrangements with consumer products, online and location-based entertainment businesses. Typically…View ↗
Starting January 1, 2025, we licensed the operation of our Playboy Plus, Playboy TV (online and linear) and Playboy Club digital…View ↗
Revenues generated from events and sponsorships are recognized when the event occurs, and the payment terms vary on a contract by contract…View ↗
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10-K for FY2025, filed Mar 16, 2026
FY2025 revenue by product or service ↗
$120.9M
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10-K for FY2025, filed Mar 16, 2026
$120.9M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Consumer products
Sold outright
10-K for FY2025, filed Mar 16, 2026 |
59%
FY2022: 57%
|
Consumer products, FY2025
$71M Sources
|
Sold outright |
|
Trademark licensing
Licensed
10-K for FY2025, filed Mar 16, 2026 |
38%
FY2022: 33%
|
Trademark licensing, FY2025
$46.4M Sources
|
Licensed |
|
Digital subscriptions and products
Licensed
|
2.7%
FY2022: 5.5%
|
Digital subscriptions and products, FY2025
$3.3M Sources
|
Licensed |
|
Events and sponsorships
Sold outright
|
0.2% |
Events and sponsorships, FY2025
$236K Sources
|
Sold outright |
Who Are Their Customers?
Honey Birdette shoppers buy directly online and in stores; brand partners license Playboy trademarks for consumer products, online gaming and hospitality.
10-K for FY2025, filed Mar 16, 2026Our Honey Birdette business currently comprises our entire direct-to-consumer segment. Honey Birdette sells its products, including…View ↗
Direct-to-Consumer, through our owned-and-operated Honey Birdette e-commerce sites and retail stores; and Licensing, including licensing…View ↗
We license the Playboy name, Rabbit Head Design, and other trademarks and related properties to strategic partners around the world. Our…View ↗
Do Revenues Turn Into Profits?
No. It lost $12.7M in FY2025.
10-K for FY2025, filed Mar 16, 2026
−$8MView ↗
10-K for FY2025, filed Mar 16, 2026
−$12.7MView ↗
10-K for FY2025, filed Mar 16, 2026
−$1MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 10, 2026
$198KView ↗
- ▲ Now profitable
- vs −$7.7M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 10, 2026
Open tableView ↗
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Mar 31, 2026
Playboy changed its independent audit firm
RSM replaced BDO as auditor for the year ending December 31, 2026; previously reported internal-control weaknesses remained unremediated.
Sources
8-K, filed Mar 31, 2026
On March 26, 2026, Playboy, Inc. (the “Company”), following the prior approval of the Audit Committee of the Board of Directors of the…View ↗
Shrinking. Revenue fell 51% in 4 years, from $246.6M in FY2021 to $120.9M in FY2025, about 16% a year.
Digital operations licensed
The older report listed creator offerings, subscriptions and digital collectibles in a separate digital segment; the latest report says a licensee operates Playboy Club, Playboy Plus and Playboy TV.
10-K for FY2022, filed Mar 16, 2023 10-K for FY2025, filed Mar 16, 2026
Direct-to-consumer narrowed
The older report listed Playboy.com, Honey Birdette, Yandy and Lovers as company-run sales channels; the latest report says its direct-to-consumer business consists only of Honey Birdette.
10-K for FY2022, filed Mar 16, 2023 10-K for FY2025, filed Mar 16, 2026Our owned digital commerce retail platforms include playboy.com, honeybirdette.com and Honey Birdette retail stores (as of August 9, 2021)…View ↗
Our Honey Birdette business currently comprises our entire direct-to-consumer segment. Honey Birdette sells its products, including…View ↗
Who Do They Compete With?
Competes with Amazon, Douyin, Semir, Bosideng, Metersbonwe, Levi’s, Lacoste, Jack & Jones, Agent Provocateur, Skims, Victoria’s Secret, Fashion Nova, Lovehoney, and Adam & Eve
10-K for FY2025, filed Mar 16, 2026We operate in the consumer goods space across a variety of different industries and face competition from broad direct-to-consumer…View ↗
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