Reports Q4 revenue $68.52M, consensus $75.56M. The company said, "Last year was challenging on a number of fronts. We embarked on a strategic review to restructure and simplify our business. We have reduced leverage and are evolving our strategy to move to a capital light model entirely focused on our most valuable brands, Playboy and Honey Birdette. This restructuring will eliminate a minimum of $15 million of costs on an annualized basis. Our new strategy will provide us with a mix of robust cash flow through our licensing segment, significant growth potential through our creator platform, which is growing at 9% week-over-week, and Honey Birdette. Further, it reduces operational complexity by eliminating unprofitable business units and non-core assets."
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on PLBY:
- PLBY Group Reports Fourth Quarter & Full Year 2022 Financial Results
- PLBY Group to Report Fourth Quarter & Full Year 2022 Financial Results
- PLBY Group options imply 14.5% move in share price post-earnings
- PLBY Group announces $70M debt paydown
- PLBY Group Announces Successful Rights Offering and Total Capital Raise of $65 Million