Benzinga | Nov 15, 2021 04:02PM EST

PLBY Group Q3 EPS $(0.18) May Not Compare To $(0.04) Estimate, Adj. EBITDA $5.152M vs $7.285M In Same Qtr. Last Year, Sales $58.40M Beat $57.66M Estimate

LOS ANGELES -- November 15, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ:

PLBY) ("PLBY Group" or the "Company"), a leading pleasure and leisure lifestyle company and owner

of Playboy, one of the most recognizable and iconic brands in the world, today provided financial results

for the third quarter ended September 30, 2021.

Ben Kohn, Chief Executive Officer of PLBY Group, stated, "I'm thrilled to report another successful

quarter with a 67% increase in revenue, compared to the prior year, driven by continued strength in both

direct-to-consumer and licensing. We've made meaningful progress against the three pillars of our

strategic roadmap: expanding our U.S. direct-to-consumer commerce business, optimizing our licensing

partnerships in key territories and categories, and driving new recurring revenue growth initiatives with a

focus on innovative digital offerings such as our soon-to-launch creator-led platform, CENTERFOLD,

and our NFT Rabbitars, which we plan to develop into a membership experience."

Mr. Kohn continued, "With the direct-to-consumer infrastructure we've put in place over the past year, we

are now well-positioned to expand our consumer offerings into membership services to drive significant

lifetime value. We're very excited to soon launch CENTERFOLD, our new creator-led platform that will

empower the creative and influencer community to interact directly with their fans and build their own

recurring revenue businesses. Our recent acquisition of the Dream platform, and its technology team, will

accelerate our timeline to market, and provide crucial in-house development resources to help us scale

quickly."

Third Quarter 2021 Financial Highlights

* Revenue grew 67% year-over-year, to $58.4 million, despite over $5 million of lost revenue due

to COVID-related closures and supply chain impacts.

* Direct-to-consumer revenue grew 139% year-over-year, to $36.0 million, and licensing revenue

grew 14% year-over-year, to $16.9 million.

* Adjusted EBITDA was $5.2 million and net loss was $7.7 million, largely driven by $9.8 million

of non-recurring expenses related to the acquisition of Honey Birdette and ongoing expenses

associated with being a newly public company.

Webcast Details

The Company will host a webcast at 5:00 p.m. Eastern Time today to discuss the third quarter 2021

financial results. Participants may access the live webcast on the events section of the PLBY Group, Inc.

Investor Relations website at https://www.plbygroup.com/investors/events-and-presentations.

About PLBY Group, Inc.

PLBY Group connects consumers around the world with products, services, and experiences to help them

look good, feel good, and have fun. PLBY Group serves consumers in four major categories: Sexual

Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming. PLBY Group's flagship

consumer brand, Playboy, is one of the most recognizable, iconic brands in the world, driving billions of

dollars in consumer spending annually across approximately 180 countries. Learn more at

http://www.plbygroup.com.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor"

provisions of the United States Private Securities Litigation Reform Act of 1995. The Company's actual

results may differ from their expectations, estimates, and projections and, consequently, you should not

rely on these forward-looking statements as predictions of future events. Words such as "expect,"

"estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could,"

"should," "believes," "predicts," "potential," "continue," and similar expressions (or the negative versions

of such words or expressions) are intended to identify such forward-looking statements. These forward-

looking statements include, without limitation, the Company's expectations with respect to future

performance, growth plans and anticipated financial impacts of its acquisitions.

These forward-looking statements involve significant risks and uncertainties that could cause the actual

results to differ materially from those discussed in the forward-looking statements. Factors that may cause

such differences include, but are not limited to: (1) the impact of the COVID-19 pandemic on the

Company's business and acquisitions; (2) the inability to maintain the listing of the Company's shares of

common stock on Nasdaq; (3) the risk that the Company's business combination, recent acquisitions or

any proposed transactions disrupt the Company's current plans and/or operations, including the risk that

the Company does not complete any such proposed transactions or achieve the expected benefits from

them; (4) the ability to recognize the anticipated benefits of the business combination, acquisitions,

commercial collaborations, commercialization of digital assets and proposed transactions, which may be

affected by, among other things, competition, the ability of the Company to grow and manage growth

profitably, and retain its key employees; (5) costs related to being a public company, acquisitions,

commercial collaborations and proposed transactions; (6) changes in applicable laws or regulations; (7)

the possibility that the Company may be adversely affected by other economic, business, and/or

competitive factors; (8) risks relating to the uncertainty of the projected financial information of the

Company; (9) risks related to the organic and inorganic growth of the Company's business, and the timing

of expected business milestones; and (10) other risks and uncertainties indicated from time to time in the

Company's annual report on Form 10-K, including those under "Risk Factors" therein, and in the

Company's other filings with the Securities and Exchange Commission. The Company cautions that the

foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-

looking statements, which speak only as of the date which they were made. The Company does not

undertake any obligation to update or revise any forward-looking statements to reflect any change in its

expectations or any change in events, conditions, or circumstances on which any such statement is based.