PLBY

PLBY US Stock
$39.67
Open: $37.8 High: $40.3 Low: $36.25 Close: $39.62
Range: 2021-06-23 - 2021-06-24
Volume: 2,863,707
Market: Open
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PLBY
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Latest news about the PLBY
  • PLBY Group Announces Closing of Public Offering of Common Stock

    LOS ANGELES, June 14, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (“PLBY Group”), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, announced today the closing of its upsized underwritten public offering of 4,720,000 shares of its common stock at a public offering price of $46.00 per share, before underwriting discounts and commissions. All shares of common stock sold in the offering were sold by PLBY

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  • Playboy Announces Summer Of Play: Weekly Mobile Gaming Tournaments Run On Leading Mobile Games Platform Skillz

    PLBY Group, Inc. (NASDAQ: PLBY), parent company of Playboy Enterprises, Inc. ("Playboy"), announces the launch of a four-week series of Playboy-branded gaming experiences starting Fri, June 11th and hosted on Skillz (NYSE: SKLZ), the leading mobile games platform bringing fair and fun competition to players worldwide. Playboy's Summer of Play tournaments will be run in Skillz-powered games including Pool Payday, Solitaire Cube, and 21 Blitz, which are all available in the app store for iOS and o

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  • PLBY Group Announces Upsize and Pricing of Public Offering of Common Stock

    LOS ANGELES, June 09, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (“PLBY Group”), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, today announced the upsize and pricing of its underwritten public offering of 4,720,000 shares of its common stock at a public offering price of $46.00 per share, before underwriting discounts and commissions. The offering was upsized from the previously announced offering

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  • PLBY Group Announces Proposed Public Offering of Common Stock

    LOS ANGELES, June 07, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (“PLBY Group”), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, today announced that it has commenced an underwritten public offering of 4,000,000 shares of its common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the “SEC”). All shares of common stock to be sold in the p

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  • PLBY Group Announces Successful Completion of Debt Refinancing

    New term loan expected to reduce annual debt service by over $13 million Debt maturity extended to May 2027 LOS ANGELES, May 25, 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 announced the successful completion of the refinancing of their existing credit facility through a $160 million senior secured term loan maturing in May 2027. The new term loan will accrue interest at LIBOR plus 5.75%, with a single step-down to LIBOR plus 5.25% upon achieving gross leverage of 3.0x, subject to a LIBOR floor of 0.5%. The debt refinancing is expected to result in an estimated $3 million in annual interest expense savings, reduce amortization by over $3 million annually, and eliminate over $7 million in annual excess cash flow sweep payments. The refinancing also allows the Company to request to borrow at least $30 million of additional incremental term loans, and the Company may borrow unlimited additional amounts of pari passu debt as long as its senior secured leverage ratio is below 4.75x. “We are pleased to further strengthen our financial flexibility by refinancing our existing facility with a new term loan that should reduce our annual debt service by over $13 million and which provides a defined path for additional borrowing to fund M&A,” said Lance Barton, Chief Financial Officer of PLBY Group. “Following the strength of our first quarter results, we are well-positioned to execute on both our organic and M&A growth initiatives and build upon our incredible global brand.” 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 180 countries. Learn more at http://www.plbygroup.com. Forward-Looking StatementsThis 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 the Company’s recent business combination and 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 COVID-19 pandemic on the Company’s business; (2) the inability to maintain the listing of the Company’s shares of common stock on Nasdaq; (3) the risk that the business combination, recent acquisitions or any proposed transactions disrupt the Company’s current plans and 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, 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 the business combination, acquisitions 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. Contact: Investors: investors@plbygroup.comMedia: press@plbygroup.com

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  • Playboy's next lifestyle play: 'Virtual apparel'

    Playboy CEO Ben Kohn joined Yahoo Finance to discuss where the lifestyle brand is headed next.

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  • PLBY Group Reports First Quarter 2021 Financial Results

    First Quarter 2021 Revenue Up 34% Year-Over-Year to $42.7 MillionLOS ANGELES, May 12, 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 first quarter ended March 31, 2021. Ben Kohn, Chief Executive Officer of PLBY Group, stated, “Our strong first quarter financial performance reflects the exciting growth potential of our direct-to-consumer business, which experienced triple digit revenue growth year-over-year as we successfully increased merchandising, cross-selling, and influencer marketing programs. I’m especially pleased with our results considering we continue to experience short-term, industry-wide supply chain disruptions leading to out-of-stocks on select items.” Mr. Kohn continued, “We’re also thrilled by the recent performance of our first NFT art drop, a symbol of the infinite product experiences we can build off the back of our iconic flagship brand and rich archive. We are in the early innings of unlocking the tremendous potential of our intellectual property and global fan base and remain focused on investing today in opportunities to drive superior long-term growth and deliver substantial long-term value for our shareholders.” First Quarter 2021 Financial Highlights Revenue grew 34% year-over-year to $42.7 million, driven by 114% growth in direct-to-consumer revenue in the comparable period.Net loss was $5.0 million, largely due to a $13.8 million year-over-year increase in selling and administrative expenses as the Company incurred $6.3 million of non-recurring items related to the closing of its recent business combination, including a $2.7 million increase in stock-based compensation expense. Additionally, the Company had increased costs related to M&A transaction expenses, ongoing costs attributable to acquired businesses, and expenses associated with being a newly public company.Adjusted EBITDA was $6.7 million and was burdened by an additional $1.5 million of one-time expenses related to M&A transaction expenses, severance, and COVID testing at the Company's fulfillment center, none of which were added back to arrive at adjusted EBITDA. Webcast DetailsThe Company will host a webcast at 5:00 p.m. Eastern Time on May 12, 2021 to discuss first quarter 2021 results. Participants may access the live webcast on the PLBY Group, Inc. Investor Relations website at https://www.plbygroup.com/investors. 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 180 countries. Learn more at http://www.plbygroup.com. Forward-Looking StatementsThis 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 the business combination and the Lovers acquisition. 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 COVID-19 pandemic on the Company’s business; (2) the inability to maintain the listing of the Company’s shares of common stock on Nasdaq; (3) the risk that the business combination, recent acquisitions or any proposed transactions disrupt the Company’s current plans and operations, including the risk that the Company does not complete any such proposed transactions or achieve the expected benefit from them; (4) the ability to recognize the anticipated benefits of the business combination, 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 the business combination; (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. Contact:Investors: investors@plbygroup.comMedia: press@plbygroup.com PLBY Group, Inc.Condensed Consolidated Statements of Operations(Unaudited)(in thousands) Three Months EndedMarch 31, 2021 2020Net revenues$42,680 $31,774 Costs and expenses Cost of sales(20,398) (16,279) Selling and administrative expenses(26,571) (12,723) Related party expenses(250) (250) Total costs and expenses(47,219) (29,252) Operating (loss) income(4,539) 2,522 Nonoperating income (expense): Interest expense(3,297) (3,342) Other income (expense), net745 (13) Total nonoperating expense(2,552) (3,355) Loss before income taxes(7,091) (833) Benefit (expense) from income taxes2,094 (1,576) Net loss(4,997) (2,409) Net loss attributable to redeemable noncontrolling interest— — Net loss attributable to PLBY Group, Inc.$(4,997) $(2,409) PLBY Group, Inc.Condensed Consolidated Balance Sheets(in thousands, except share and per share amounts) March 31,2021 December 31,2020 (Unaudited) ASSETS Current assets: Cash and cash equivalents$70,249 $13,430 Restricted cash2,130 2,130 Receivables, net of allowance for doubtful accounts of $233 and $233, respectively7,303 6,601 Inventories, net17,310 11,788 Stock receivable— 4,445 Prepaid expenses and other current assets16,057 8,822 Total current assets113,049 47,216 Property and equipment, net8,093 5,203 Trademarks and trade name331,475 336,655 Goodwill19,235 504 Other intangible assets, net11,514 2,377 Contract assets, net of current portion6,641 7,159 Other noncurrent assets12,741 13,013 Total assets$502,748 $412,127 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable$11,199 $8,678 Accrued salaries, wages, and employee benefits2,649 4,870 Deferred revenues, current portion20,085 11,159 Long-term debt, current portion4,888 4,470 Convertible promissory notes— 6,230 Other current liabilities and accrued expenses18,720 18,556 Total current liabilities57,541 53,963 Deferred revenues, net of current portion34,329 43,792 Long-term debt, net of current portion153,007 154,230 Deferred tax liabilities, net74,897 74,909 Other noncurrent liabilities4,077 2,422 Total liabilities323,851 329,316 Commitments and contingencies (Note 13) Redeemable noncontrolling interest(208) (208) Stockholders’ equity: Common stock, $0.0001 par value per share, 150,000,000 shares authorized, 34,260,980 shares issued and 33,560,980 shares outstanding as of March 31, 2021; 20,626,249 shares issued and outstanding as of December 31,20203 2 Treasury stock, at cost, 700,000 shares and 0 shares as of March 31, 2021 and December 31, 2020(4,445) — Additional paid-in capital266,560 161,033 Accumulated deficit(83,013) (78,016) Total stockholders’ equity179,105 83,019 Total liabilities, redeemable noncontrolling interest, and stockholders’ equity$502,748 $412,127 EBITDA Reconciliation This release presents the financial measure earnings before interest, taxes, depreciation and amortization, or “EBITDA”, and Adjusted EBITDA, which are not financial measures under the accounting principles generally accepted in the United States of America (“GAAP”). “EBITDA” is defined as net income or loss before interest, income tax expense or benefit, and depreciation and amortization. “Adjusted EBITDA” is defined as EBITDA adjusted for stock-based compensation and other special items determined by Company management. Adjusted EBITDA is intended as a supplemental measure of the Company’s performance that is neither required by, nor presented in accordance with, GAAP. The Company believes that the use of EBITDA and Adjusted EBITDA provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with those of comparable companies, which may present similar non-GAAP financial measures to investors. However, investors should be aware that when evaluating EBITDA and Adjusted EBITDA, the Company may incur future expenses similar to those excluded when calculating these measures. In addition, the Company’s presentation of these measures should not be construed as an inference that the Company’s future results will be unaffected by unusual or nonrecurring items. The Company’s computation of Adjusted EBITDA may not be comparable to other similarly titled measures computed by other companies, because all companies may not calculate Adjusted EBITDA in the same fashion. In addition to adjusting for non-cash stock-based compensation, the Company typically adjusts for nonoperating expenses and income, such as management fees paid to its largest shareholder, merger related bonus payments, non-recurring special projects including the implementation of internal controls and the expense associated with reorganization and severance resulting in the elimination or right-sizing of specific business activities or operations as the Company transforms from a print and digital media business to a commerce centric business. The Company also adjusts for nonrecurring and nonoperating expenses. Because of these limitations, EBITDA and Adjusted EBITDA should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. The Company compensates for these limitations by relying primarily on its GAAP results and using EBITDA and Adjusted EBITDA on a supplemental basis. Investors should review the reconciliation of net loss to EBITDA and Adjusted EBITDA below and not rely on any single financial measure to evaluate the Company’s business. The following table reconciles the Company’s net loss to EBITDA and Adjusted EBITDA: GAAP Net Income to Adjusted EBITDA Reconciliation(Unaudited)(in thousands) Three Months Ended March 31, 2021 2020 (in thousands)Net loss$(4,997) $(2,409) Adjusted for: Interest expense3,297 3,342 Provision for income taxes(2,094) 1,576 Depreciation and amortization728 641 EBITDA(3,066) 3,150 Adjusted for: Stock-based compensation3,498 749 Reduction in force expenses— 997 Nonrecurring items6,040 1,615 Management fees and expenses250 250 Nonoperating (income) expenses— 59 Adjusted EBITDA$6,722 $6,820

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  • PLBY Group, Inc. to Report First Quarter 2021 Financial Results on May 12, 2021

    LOS ANGELES, April 21, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (Nasdaq: PLBY), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, will report financial results for the first quarter ended March 31, 2021 on Wednesday, May 12, 2021 after the U.S. stock market closes. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Listeners may access the live webcast on the Company’s Investor Relations website at https://www.plbygroup.com/investors. A replay will be made available following the event. About PLBY Group, Inc.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 more than $3 billion in global consumer spend annually across 180 countries. Learn more at http://www.plbygroup.com. Contact:Investors: investors@plbygroup.comMedia: press@plbygroup.com

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  • Playboy and Nifty Gateway Partner to Bring 70-Year Art Legacy to Blockchain

    Partnership features upcoming NFT art collaborations with major digital artists and grants to support emerging artistsNEW YORK and LOS ANGELES, April 06, 2021 (GLOBE NEWSWIRE) -- Playboy, the iconic brand owned by PLBY Group, Inc. (NASDAQ: PLBY) and Nifty Gateway, the Gemini-owned all-in-one platform that makes it easy to buy, sell, and store digital art and collectibles, today announced a partnership to create a series of Playboy x Nifty digital art collaborations on Nifty Gateway’s blockchain-powered marketplace as the start to its long-term relationship. The partnership will kick off with an upcoming Playboy x Slimesunday release of original works developed by Slimesunday in partnership with Playboy’s editorial and archival curators, followed by participation in a Pride-themed curation in June with digital artist Blake Kathryn. The longer-term Playboy x Nifty relationship will focus on three key areas: artist collaborations with Playboy’s vast art and photography archive, an ongoing effort to incubate and commission new artist NFT works including providing grants specifically designed to support emerging and underrepresented artists entering the NFT art community, and the curation and sales of Playboy’s iconic art collection in NFT form. Playboy’s entry into the crypto art world is a natural extension of the brand’s 67-year commitment to providing a platform for artists, writers and photographers to freely express themselves and to connect with vast audiences. From Pablo Picasso and Salvador Dalí to Keith Haring and Andy Warhol, Playboy has served as a creative incubator for some of the world’s most legendary artists. Playboy’s contemporary arts program continues to build on that legacy with a focus on platforming more female artists and diverse voices, including profiles and events with such artists as Marilyn Minter, Xaviera Simmons, and Hank Willis Thomas. Playboy’s archives contain an immense wealth of original artwork, photography, cartoons, interviews, and multimedia ripe for exploration by digital audiences, art lovers and collectors. “Since its inception, Playboy has championed artists and creative self-expression, turning its magazine pages and the walls of Playboy’s iconic spaces into an ever-expanding, priceless art collection. We’re thrilled to partner with Nifty Gateway, a platform and team dedicated to the artist community and technology security and efficiency, to allow a new generation to not only experience, but also to collect unique works from, this unparalleled collection,” said Rachel Webber, Chief Brand Officer & President of Corporate Strategy at PLBY Group. “And in addition to bringing our existing archive to the blockchain, what’s equally exciting about our partnership with the Nifty team is our shared commitment to fostering and commissioning new work and supporting up-and-coming artists. We can’t wait to release more details soon from our partnership with Blake Kathryn, and from our collaboration with Slimesunday, an artist we’ve worked with previously in print form. We wholeheartedly believe in the future of a blockchain- and crypto-powered art world that ensures artist and collector protection, ongoing artist compensation, and the democratization of distribution and collecting. We’re thrilled to dive in with Nifty, and to continue learning and contributing.” Ashley Ramos, Senior Producer at Nifty Gateway, said, “It is exciting to work with such an iconic brand that has long served as an incubator for both established and up-and-coming artists. Nifty Gateway and Playboy are both committed to creating authentic opportunities for artists to showcase their work, and we are excited that Playboy has entered the NFT space with care, creative intention and commitment to the artists and the NFT community. We're thrilled to give our artists access to the legendary work from Playboy's archives for collaborative purposes, alongside new works in commission.” About PLBY Group, Inc.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 more than $3 billion in global consumer spend annually across 180 countries. Learn more at http://www.plbygroup.com. About Nifty GatewayNifty Gateway is the premiere, all-in-one platform that makes it easy to buy, sell, and store digital art and collectibles, otherwise known as Nifties (or NFTs). Nifty Gateway was founded by Duncan and Griffin Cock Foster in 2018, and acquired by Gemini in 2019, with the belief that crypto networks and the blockchain have the power to fundamentally change the art world by creating greater choice, independence, and opportunity for artists, creators, and collectors. About SlimesundaySlimesunday is a digital collage artist based out of Boston MA. He consistently pushes the limits of what is acceptable in mainstream media exploring censorship through bizarre and erotic topics. While often having his work banned from social platforms for violating their terms and conditions he ironically has amassed a large social following. Since he began sharing his work as NFTs, Slimesunday has become the 6th highest earning artist in the space. Slimesunday’s art can also be found in Playboy, Penthouse, Hunger, Plastik, and Glamour Magazine. He has been involved with projects with J. Cole, Lana Del Rey, Katy Perry, J Balvin, and Beck. He is the current art director for 3LAU and makes up half of the audio-visual project SSX3LAU. About Blake KathrynBlake Kathryn is a Los Angeles based visual artist with a surreal futurist aesthetic. Her work fuses vibrant palettes with ethereal undertones, creating dreamlike experiences across various forms of media. Blake's subject matter spans across several realms, including the female form, architectural studies and immersive dreamspaces. Contacts:PLBY Group: press@plbygroup.com Nifty Gateway: press@niftygateway.com

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  • Playboy looking to sell NFTs amid company growth push

    Playboy CEO Ben Kohn joined Yahoo Finance Live to talk everything from earnings to future growth plans.

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  • PLBY Group Reports Fourth Quarter & Full Year 2020 Financial Results

    Fiscal Year 2020 Revenue Up 89% Year-Over-Year to $148 Million Fourth Quarter 2020 Revenue Up 118% Year-Over-Year to $46 Million Recent Business Combination Adds $100 Million of Cash to Balance Sheet LOS ANGELES, March 23, 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 fourth quarter and full year 2020. Ben Kohn, Chief Executive Officer of PLBY Group, stated, “I’m thrilled with our fourth quarter and full year 2020 performance. Despite the headwinds of the pandemic, our globally diversified operations achieved fourth quarter revenue of $46 million, a 118% year-over-year increase, and full year revenue of $148 million, an 89% year-over-year increase. Our revenue growth accelerated across the business, driven by our expansion of direct-to-consumer digital commerce sales, and 20% annual growth of our highly profitable licensing business.” Mr. Kohn continued, “2020 was an early, but pivotal, first step toward unlocking the tremendous potential value of our platform. With our successful business combination and public listing now complete, and the accretive acquisition of Lovers, a leading sexual wellness omni-channel retailer, we are in a strong position to aggressively expand in our four key categories of focus–sexual wellness, style and apparel, gaming and lifestyle, and beauty and grooming. The business is off to a great start in 2021 and we are raising our outlook to project revenue to exceed $200 million this year. As a high-growth consumer lifestyle company, we are focused first and foremost on continuing to accelerate our revenue growth to deliver substantial long-term value for our shareholders.” Financial Highlights Revenue up 89% year-over-year to $147.7 million in 2020, and 118% to $46.3 million in the fourth quarter.Operating income improved year-over-year by $19.6 million to $13.6 million in 2020, and improved by $8.7 million in the fourth quarter to $4.9 million.Net loss narrowed year-over-year by $18.3 million to $5.3 million in 2020, and net loss narrowed year-over-year by $5.5 million to $0.5 million in the fourth quarter of 2020.Adjusted EBITDA in 2020 was $28.3 million and was $6.5 million in the fourth quarter of 2020. Fourth quarter EBITDA included $2.2 million of out-of-period expenses. Subsequent EventsFollowing the fourth quarter of 2020 and Playboy’s successful business combination with Mountain Crest Acquisition Corp., PLBY Group was listed on NASDAQ on February 11, 2021 and held more than $100 million of unrestricted cash. The Company completed the accretive acquisition of omni-channel retailer Lovers for $25 million on March 1, 2021. Management believes such acquisition bolsters PLBY Group’s growth strategy in the sexual wellness category with an owned distribution platform, superior merchandising and leadership, and strong product innovation capabilities. Conference Call and Webcast DetailsThe Company will host a conference call and webcast at 5:00 p.m., Eastern Time, on March 23, 2021 to discuss its 2020 full year and fourth quarter results. The live conference call can be accessed by dialing (833) 471-0882 from within the U.S. or (914) 987-7714 internationally, both using conference I.D. code 4989609. Alternatively, participants may access the live webcast on the PLBY Group, Inc. Investor Relations website at https://www.plbygroup.com/investors under “Events & 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 more than $3 billion in global consumer spend annually across 180 countries. Learn more at http://www.plbygroup.com. Forward-Looking StatementsThis 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 the business combination and the Lovers acquisition. 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 COVID-19 pandemic on the Company’s business (2) the inability to maintain the listing of the Company’s shares of common stock on Nasdaq; (3) the risk that the business combination, recent acquisitions or any proposed transactions disrupt the Company’s current plans and operations, including the risk that the Company does not complete any such proposed transactions or achieve the expected benefit from them; (4) the ability to recognize the anticipated benefits of the business combination, 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 the business combination; (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 definitive proxy statement relating to the business combination, 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. Contact: Investors: investors@plbygroup.comMedia: press@plbygroup.com PLAYBOY ENTERPRISES, INC. CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands) Three Months EndedDecember 31, Twelve Months EndedDecember 31, 2020 2019 2020 2019 Unaudited Unaudited Unaudited AuditedNet revenues$46,327 $21,239 $147,662 $78,110 Costs and expenses Cost of sales (22,632) (12,352) (73,180) (37,742)Selling and administrative expenses (18,506) (12,418) (59,863) (45,399)Related-party expenses (250) (255) (1,007) (1,005)Total costs and expenses (41,388) (25,025) (134,050) (84,146)Operating income (loss) 4,939 (3,786) 13,612 (6,036)Nonoperating income (expense): Investment income - 43 30 225 Interest expense (3,390) (3,341) (13,463) (14,225)Gain from settlement of convertible note 1,454 - 1,454 - Gain from bargain purchase - 1,483 - 1,483 Other, net 87 (66) 168 (173)Total nonoperating expense (1,849) (1,881) (11,811) (12,690)Income (loss) before income taxes 3,090 (5,667) 1,801 (18,726)Provision for income taxes (3,602) (351) (7,072) (4,850)Net income (loss) and comprehensive income (loss) (512) (6,018) (5,271) (23,576)Net income (loss) attributable to redeemable noncontrolling interest - - - - Net income (loss) and comprehensive income (loss) attributable to Playboy Enterprises, Inc.($512) ($6,018) ($5,271) ($23,576) Playboy Enterprises, Inc.Consolidated Balance Sheets(in thousands, except share and per share amounts) December 31, 2020 2019ASSETSUnaudited AuditedCurrent assets: Cash and cash equivalents$13,430 $27,744 Restricted cash 2,130 963 Receivables, net of allowance for doubtful accounts of $233 and $302, respectively. 6,601 6,153 Inventories, net 11,788 11,750 Stock receivable 4,445 - Prepaid expenses and other current assets 8,822 7,224 Total current assets 47,216 53,834 Property and equipment, net 5,203 5,932 Trademarks and trade name 336,655 335,934 Goodwill 504 504 Other intangible assets, net 2,377 3,052 Contract assets, net of current portion 7,159 7,391 Other noncurrent assets 13,013 12,004 Total assets$412,127 $418,651 LIABILITIES AND STOCKHOLDERS EQUITY Current liabilities: Accounts payable$8,678 $7,859 Payables to related parties - 5 Accrued salaries, wages, and employee benefits 4,870 4,603 Deferred revenues, current portion 11,159 9,857 Long-term debt, current portion 4,470 3,182 Convertible promissory notes 6,230 13,500 Other current liabilities and accrued expenses 18,556 22,143 Total current liabilities 53,963 61,149 Deferred revenues, net of current portion 43,792 41,734 Long-term debt, net of current portion 154,230 157,810 Deferred tax liabilities, net. 74,909 72,288 Other noncurrent liabilities 2,422 576 Total liabilities 329,316 333,557 Commitments and contingencies Redeemable noncontrolling interest (208) (208)Stockholders equity: Common stock, $0.01 par value; 10,000,000 shares authorized at December 31, 2020 and 2019; 5,646,993 shares issued at December 31, 2020 and 2019; 3,681,185 shares outstanding at December 31, 2020 and 2019 36 36 Treasury stock, at cost: 1,965,808 shares at December 31, 2020 and 2019 (38,455) (38,455)Additional paid-in capital 199,454 196,466 Accumulated deficit (78,016) (72,745)Total stockholders equity 83,019 85,302 Total liabilities, redeemable noncontrolling interest, and stockholders equity$412,127 $418,651 EBITDA Reconciliation This release presents the financial measure earnings before interest, taxes, depreciation and amortization, or “EBITDA”, and Adjusted EBITDA, which are not financial measures under the accounting principles generally accepted in the United States of America (“GAAP”). The most directly comparable measure for these non-GAAP financial measures is net income. The Company has included below adjusted financial information, which presents the Company’s results of operations after excluding interest, taxes, depreciation, amortization, stock-based compensation, reduction in force expenses, management fees and expenses, transaction expenses and certain other non-recurring items. Company management uses the non-GAAP financial measures presented herein to evaluate the Company’s performance. Company management finds it useful to use financial measures that do not include the adjustments noted above. While the Company may have these types of items and charges in the future, Company management believes that they are not reflective of the day-to-day offering of its products and services and relate more to strategic, multi-year corporate actions, without predictable trends, and that may obscure the trends and financial performance of the Company's core business. In the case of “Adjusted EBITDA”, Company management believes the exclusion of goodwill impairment, interest, taxes, depreciation, amortization, and stock-based compensation is a very common measure utilized in the investment community and it helps Company management benchmark its operations and results with the industry. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to those financial statements should be carefully evaluated. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. The Company has provided reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measure. Management encourages readers to rely upon the GAAP numbers, but includes the non-GAAP financial measures as supplemental metrics to assist readers. The limitation associated with using these non-GAAP financial measures is that these measures exclude items that impact the Company’s current period operating results. This limitation is best addressed by using these non-GAAP financial measures in combination with “net income (loss)” (the most comparable GAAP measure) because the non-GAAP financial measures do not reflect items that impact current period operating results and may be higher or lower than the most comparable GAAP measure. The following table provides a reconciliation from net loss to Adjusted EBITDA for the periods indicated: GAAP Net Income to Adjusted EBITDA Reconciliation(Unaudited)(in thousands) Three Months EndedDecember 31, Twelve Months EndedDecember 31, 2020 2019 2020 2019Net income (loss)($512) ($6,018) ($5,271) ($23,576)Adjusted for: Interest expense 3,390 3,341 13,463 14,225 Provision for (benefit from) income taxes 3,602 351 7,072 4,850 Depreciation and amortization 556 663 2,258 3,093 EBITDA 7,036 (1,663) 17,522 (1,408)Adjusted for: Stock-based compensation 403 713 2,899 7,368 Reduction in force expenses 364 - 3,165 1,184 Non-recurring items - 3,885 3,230 4,647 Management fees and expenses 250 255 1,007 1,005 Nonoperating expenses (income) (1,415) 23 (1,299) (52)Transaction expenses (108) 353 1,771 353 Adjusted EBITDA$6,530 $3,566 $28,295 $13,097

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  • PLBY Group to Participate in the 33rd Annual Roth Capital Partners Investor Conference

    LOS ANGELES, March 08, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (Nasdaq: PLBY) (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 announced that the Company will participate in the 33rd Annual ROTH Conference, to be held virtually March 15-17, 2021. Ben Kohn, Chief Executive Officer, will participate in a fireside chat with ROTH Managing Director & Senior Research Analyst George Kelly, at 12:30 p.m. ET on Tuesday, March 16, 2021. To schedule a meeting with the Company, please contact your ROTH sales representative. Participants may access a live, high-definition webcast of the fireside chat on the PLBY Group Investor Relations site https://www.plbygroup.com/investors under “Events & Presentations.” A replay will be archived online for 90 days. About PLBY Group, Inc.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 more than $3 billion in global consumer spend annually across 180 countries. Learn more at http://www.plbygroup.com. Contacts: Investorsinvestors@plbygroup.com Mediapress@plbygroup.com

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  • PLBY Group Closes Previously Announced Acquisition of Lovers

    Acquisition of Leading Sexual Wellness Omni-Channel Retailer Further Solidifies Leadership in Sexual Wellness CategoryLOS ANGELES, March 02, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (Nasdaq: PLBY) (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 announced the completion of its previously announced deal to acquire TLA Acquisition Corp., the parent company of the Lovers family of stores (“Lovers”), a leading omni-channel online and brick-and-mortar sexual wellness chain, with 41 stores in five states. The acquisition of 100% of the equity of Lovers was completed for a purchase price of $25M of cash. Lovers is expected to generate $45M in revenue over the next twelve months, and approximately $5M of Adjusted EBITDA. The deal is immediately accretive to shareholders on a per share basis. Barbara Cook, CEO of Lovers, will join PLBY Group as Executive Vice President, Sexual Wellness working across PLBY Group’s Sexual Wellness brands and product lines, and remain at the helm of Lovers as its Chief Executive Officer. “We are thrilled to officially welcome the Lovers team to PLBY Group. This transaction accelerates our company’s Sexual Wellness growth strategy with a new owned distribution platform, superior merchandising leadership, and strong product innovation capabilities,” said Ben Kohn, CEO of PLBY Group. “Lovers intimacy offerings align with the fastest growing category on our Yandy platform, and Lovers brick-and-mortar and digital retail footprint represents immediate expanded distribution for Playboy-branded Sexual Wellness offerings. While we are not factoring in synergy opportunities today, we expect to drive significant operational efficiencies in a post-Covid world. We also plan to move quickly in a post-Covid environment to aggressively expand Lovers domestically, digitally, and internationally leveraging the Playboy brand’s global awareness and operations.” Mr. Kohn continued, “Most importantly, I couldn’t be more excited to welcome the CEO of Lovers, Barbara Cook, and the whole Lovers team to PLBY Group. Barbara brings with her more than two decades of retail and merchandising leadership experience from retail giants like Gap, Inc. and Starbucks, and we are eager to apply her expertise across our whole company.” “Today is a momentous day for Lovers and the Sexual Wellness industry. I’m immensely proud of the recent growth achieved by our Lovers team, and thrilled to embark on this next chapter as part of PLBY Group, an organization dedicated to helping consumers around the world integrate pleasure into their lives,” said Barbara Cook, CEO of Lovers and newly appointed PLBY Group EVP of Sexual Wellness. “I’m thrilled to join Ben and the whole the PLBY Group organization to build products, services, and retail experiences to lead in the rapidly growing category of Sexual Wellness. I can’t wait to get started.” On February 11, 2021, the Company began trading on Nasdaq Global Market after completing its business combination with Mountain Crest Acquisition Corp. (“MCAC”), a special purpose acquisition company. Upon completing the merger, Mountain Crest Acquisition Corp changed its name to PLBY Group, Inc. and the Company closed the transaction with more than $100 million in unrestricted cash and a newly flexible cap structure. Playboy’s return to the public markets as PLBY Group presents a transformed, streamlined, and high-growth business, including its iconic brand contracted licensing business, owned-and-operated sexual wellness products available for sale on its owned digital commerce platforms in major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products, including one of the leading men’s apparel businesses in China. About PLBY Group, Inc. 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 more than $3 billion in global consumer spend annually across 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 the business combination and the Lovers acquisition. 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 COVID-19 pandemic on the Company’s business; (2) the inability to maintain the listing of the Company’s shares of common stock on Nasdaq following the business combination; (3) the risk that the business combination or its planned transactions disrupt the Company’s current plans and operations, including the risk that the Company does not complete any such planned transactions or achieve the expected benefit from them; (4) the ability to recognize the anticipated benefits of the business combination, 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 the business combination; (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 definitive proxy statement relating to the business combination, including those under “Risk Factors” therein, and in the Company’s other filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive, and readers should not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based. Non-GAAP Financial Measures This press release contains certain financial information, data and forecasts, such as Adjusted EBITDA, that have not been prepared in accordance with generally accepted accounting principles (“GAAP”). PLBY Group believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating historical or projected operating results and trends and in comparing PLBY Group's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and revenue that are required by GAAP to be recorded in PLBY Group’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and revenue items are excluded or included in determining these non-GAAP financial measures. For a description of the non-GAAP financial measures referred to herein and reconciliations to the most comparable GAAP financial measure for previously reported periods, please see PLBY Group’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission (the “SEC”) on January 21, 2021 (as supplemented on February 2, 2021) and other reports and documents that it files with or furnishes to the SEC. The Company has not provided a reconciliation of any such forward-looking non-GAAP financial measures because not all of the information necessary for a quantitative reconciliation of the forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures is available without unreasonable efforts at this time. Such information could have a significant impact on the expected comparable GAAP financial measures for the same period. Contact:Investors: investors@plbygroup.comMedia: press@plbygroup.com

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  • PLBY Group, Inc. to Report Fourth Quarter & Full Year 2020 Financial Results on March 23, 2021

    LOS ANGELES, Feb. 25, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (Nasdaq: PLBY), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, will report financial results for the fourth quarter and fiscal year ended December 31, 2020, on Tuesday, March 23, 2021 after the U.S. stock market closes. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Participants may access the live webcast on the company’s Investor Relations website at https://www.plbygroup.com/investors under “Events.” The call may also be accessed by dialing 1 (833) 398-1016 from the U.S., or by dialing 1 (914) 987-7714 internationally, both using the Conference ID 4989609. A replay of the webcast will be available at the company’s Investor Relations website following the event. 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 more than $3 billion in global consumer spend annually across 180 countries. Learn more at http://www.plbygroup.com. Contacts:Investor Relations:Ashley DeSimone Ashley.Desimone@icrinc.com

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  • CBD competition heats up as Martha Stewart brand gains awareness

    Bethany Gomez, Brightfield Group Managing Director, joins the Yahoo Finance's Zack Guzman to discuss the state of the CBD industry, along with the latest insights from Brightfield Group's Q4 CBD Brand Health survey. 

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  • Kevin Diamond Joins PLBY Group as Chief Digital Officer

    E-Commerce & Technology Veteran Joins Management TeamLOS ANGELES, Feb. 22, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (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 announced the appointment of Kevin Diamond to newly created role of Chief Digital Officer, reporting directly to Ben Kohn, Chief Executive Officer. In his new role, which begins on February 24, 2021, Mr. Diamond will be responsible for expanding PLBY Group’s global digital commerce business, elevating the Company’s global digital experience, and strengthening its technology infrastructure underpinning. Mr. Diamond joins PLBY Group from Forever 21, where he served as the Head of Global E-Commerce, responsible for the company’s more than $700 million global digital commerce business, its product and technology function, and all digital marketing and commerce operations. Previously, Mr. Diamond served as Chief Technology Officer of The Black Tux from September 2015 through February 2018, where he helped the company achieve rapid revenue growth and valuation expansion. Prior to that, Mr. Diamond ran M&A and technology strategy for Nordstrom, and was the CTO for NordstromRack.com. Kevin joined Nordstrom through the acquisition of the company he co-founded, HauteLook. Under Kevin’s leadership, HauteLook and NordstromRack.com achieved over $750M in gross sales annually during his tenure. At HauteLook, Mr. Diamond oversaw the digital commerce business, and its product and technology function. “Kevin brings a phenomenal track record building superior digital commerce businesses that drive enormous consumer engagement and rapid revenue growth, and we are thrilled to bring him on board to supercharge our global digital commerce and direct-to-consumer ambitions,” said Ben Kohn, CEO of PLBY Group. “Kevin’s unique experience managing global digital commerce operations, developing scalable technology platforms, and generating huge consumer engagement growth perfectly position him to spearhead many of our organic and inorganic growth plans that will drive immediate and long-term shareholder value.” “I can’t wait to get started as the new Chief Digital Officer role at PLBY Group at such an exciting time for the Company,” said Mr. Diamond. “The opportunity to build upon the Company’s recent rapid digital commerce expansion, and to connect to consumers with one of the world’s most iconic lifestyle brands is enormous and thrilling. In addition, the Company’s massive global reach creates unmatched growth potential. I look forward to working alongside Ben and the exceptional PLBY team.” On February 11, 2021, the Company began trading on Nasdaq Global Market after completing its business combination with Mountain Crest Acquisition Corp. (“MCAC”), a special purpose acquisition company. Upon completing the merger, Mountain Crest Acquisition Corp changed its name to PLBY Group, Inc. and the Company closed the transaction with more than $100 million in unrestricted cash and a newly flexible cap structure. Playboy’s return to the public markets as PLBY Group presents a transformed, streamlined, and high-growth business, including its iconic brand contracted licensing business, owned-and-operated sexual wellness products available for sale on its owned digital commerce platforms in major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products, including one of the leading men’s apparel businesses in China. The Company also recently announced the expansion of its direct-to-consumer and retail store reach with a deal to acquire a leading sexual wellness omni-channel retailer. The deal is expected to close in the first quarter of 2021. About PLBY Group, Inc. 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 more than $3 billion in global consumer spend annually across 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 the proposed business combination and pending transactions. 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 COVID-19 pandemic on the Company’s business (2) the inability to maintain the listing of the Company’s shares of common stock on Nasdaq following the business combination; (3) the risk that the business combination or its planned transactions disrupt the Company’s current plans and operations, including the risk that the Company does not complete any such planned transactions or achieve the expected benefit from them; (4) the ability to recognize the anticipated benefits of the business combination, 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 the business combination; (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; (7) risks relating to the uncertainty of the projected financial information of the Company; (8) risks related to the organic and inorganic growth of the Company’s business and the timing of expected business milestones; and (9) other risks and uncertainties indicated from time to time in the definitive proxy statement relating to the business combination, including those under “Risk Factors” therein, and in the Company’s other filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive, and readers should not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based. Contact: Investors: investors@plbygroup.comMedia: press@plbygroup.com

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  • Florus Beuting Joins PLBY Group as Chief Accounting Officer

    Financial Operations Veteran Joins New CFO Lance Barton LOS ANGELES, Feb. 18, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (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 announced the expansion of its finance team with the addition of Florus Beuting as Chief Accounting Officer. In his new role, which began on February 8, 2021, Mr. Beuting is responsible for PLBY Group’s global accounting operations, financial reporting, tax, treasury, and audit functions. Mr. Beuting will report to newly appointed CFO Lance Barton when Mr. Barton begins on March 1, 2021. Current PLBY Group CFO, David Israel, will support the transition of the finance team and assume an operational role at the Company focused on direct to consumer operations. Mr. Beuting joins PLBY Group from Fandango, where he served since December 2017 as the company’s Vice President and Controller, overseeing domestic and international accounting for the company’s Ticketing and Video on Demand businesses, and managed the financial operations integration of multiple acquisitions. Previously, Mr. Beuting served as Assistant Controller at Snapchat where he led the implementation of the company’s financial systems and helped facilitate the company’s public company readiness. “Florus brings significant experience leading large, global organizations through periods of transformational growth and delivering results,” said Ben Kohn, CEO of PLBY Group. “We’re excited to welcome him to our team and look forward to the pivotal role he will play as we embark on our next chapter as a public company.” Mr. Kohn continued, “I’d also like to extend my deepest gratitude to David Israel, who will be transitioning to an operational role at PLBY Group as Lance and Florus step into their roles. David has served as a loyal partner since I began as CEO three years ago and I’m thrilled he will be stepping into an operational leadership role in the coming weeks.” On February 11, 2021, the Company began trading on Nasdaq Global Market after completing its business combination with Mountain Crest Acquisition Corp. (“MCAC”), a special purpose acquisition company. Upon completing the merger, Mountain Crest Acquisition Corp changed its name to PLBY Group, Inc. and the Company closed the transaction with more than $100 million in unrestricted cash and a newly flexible cap structure. Playboy’s return to the public markets as PLBY Group presents a transformed, streamlined, and high-growth business, including its iconic brand contracted licensing business, owned-and-operated sexual wellness products available for sale on its owned digital commerce platforms in major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products, including one of the leading men’s apparel businesses in China. The Company also recently announced the expansion of its direct-to-consumer and retail store reach with a deal to acquire a leading sexual wellness omni-channel retailer. The deal is expected to close in the first quarter of 2021. About PLBY Group, Inc. 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 more than $3 billion in global consumer spend annually across 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 the proposed business combination and pending transactions. 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 COVID-19 pandemic on the Company’s business (2) the inability to maintain the listing of the Company’s shares of common stock on Nasdaq following the business combination; (3) the risk that the business combination or its planned transactions disrupt the Company’s current plans and operations, including the risk that the Company does not complete any such planned transactions or achieve the expected benefit from them; (4) the ability to recognize the anticipated benefits of the business combination, 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 the business combination; (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; (7) risks relating to the uncertainty of the projected financial information of the Company; (8) risks related to the organic and inorganic growth of the Company’s business and the timing of expected business milestones; and (9) other risks and uncertainties indicated from time to time in the definitive proxy statement relating to the business combination, including those under “Risk Factors” therein, and in the Company’s other filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive, and readers should not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based. Contact: Investors: investors@plbygroup.comMedia: press@plbygroup.com

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  • PLBY Group Names Lance Barton Chief Financial Officer

    Match Group SVP of Corporate Development and Investor Relations to Bolster PLBY Group Executive TeamLOS ANGELES, Feb. 16, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (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 announced the appointment of Lance Barton as Chief Financial Officer, effective March 1, 2021. Mr. Barton joins PLBY Group from Match Group, where he served as head of Corporate Development and Investor Relations. He joined Match Group from IAC in 2014, and helped lead a period of substantial growth at Match Group, including a 1300% increase in Match Group’s share price and a $45 billion increase in Match Group’s market capitalization. Over the course of his 13-year tenure with both Match Group and IAC, Mr. Barton led the acquisition of over 30 companies, including the recently announced $1.725 billion acquisition of Hyperconnect. “Lance brings a phenomenal track record building long-term, public-company shareholder value through strategic M&A and financial operations oversight, and we are delighted to welcome him to the PLBY Group team,” said Ben Kohn, CEO of PLBY Group. “Lance has played a key role in the growth of Match Group’s global platform and we’re excited to bring his finance, corporate development and investor relations leadership to our organization as we embark on our next chapter of growth. I have known Lance for many years, and am thrilled to partner with him to continue the execution of our strategy to drive revenue growth and continued margin expansion.” “I am thrilled to step into the CFO role at PLBY Group at such a momentous time for the Company, as we begin this new chapter as a publicly-traded entity,” said Mr. Barton. “The opportunity to build the leading platform for pleasure and leisure brands is enormous, proven by the Company’s significant year of growth in 2020 and strong operational roadmap underway. I’ve known Ben for many years and I couldn’t be more excited to work alongside him and the whole PLBY Group team to leverage our robust balance sheet and newly flexible cap structure to execute our organic and inorganic growth plans, and deliver long-term shareholder value.” On February 11, 2021, the Company began trading on Nasdaq Global Market after completing its business combination with Mountain Crest Acquisition Corp. (“MCAC”), a special purpose acquisition company. Upon completing the merger, Mountain Crest Acquisition Corp changed its name to PLBY Group, Inc. and the Company closed the transaction with more than $100 million in unrestricted cash and a newly flexible cap structure. Playboy’s return to the public markets as PLBY Group presents a transformed, streamlined, and high-growth business, including its iconic brand contracted licensing business, owned-and-operated sexual wellness products available for sale on its owned digital commerce platforms and in over 10,000 major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products, including one of the leading men’s apparel businesses in China. The Company also recently announced the expansion of its direct-to-consumer and retail store reach with a deal to acquire a leading sexual wellness omni-channel retailer. The deal is expected to close in the first quarter of 2021. About PLBY Group, Inc. 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 more than $3 billion in global consumer spend annually across 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 the proposed business combination and pending transactions. 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 COVID-19 pandemic on the Company’s business (2) the inability to maintain the listing of the Company’s shares of common stock on Nasdaq following the business combination; (3) the risk that the business combination or its planned transactions disrupt the Company’s current plans and operations, including the risk that the Company does not complete any such planned transactions or achieve the expected benefit from them; (4) the ability to recognize the anticipated benefits of the business combination, 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 the business combination; (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; (7) risks relating to the uncertainty of the projected financial information of the Company; (8) risks related to the organic and inorganic growth of the Company’s business and the timing of expected business milestones; and (9) other risks and uncertainties indicated from time to time in the definitive proxy statement relating to the business combination, including those under “Risk Factors” therein, and in the Company’s other filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive, and readers should not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based. Contacts:Investor Relations:Ashley DeSimone Ashley.Desimone@icrinc.com Media:Zeba RashidZeba.Rashid@icrinc.com

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  • Playboy has big plans but Wall Street is unimpressed

    As Playboy tries to write a future very different from its past, Wall Street is not showing confidence.

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