PLBY GROUP Reports 46.3% Decrease in Revenue for Q2 FY2023
August 24, 2023
🌥️Earnings Overview
For the second quarter of 2023 (ended June 30), PLBY GROUP ($NASDAQ:PLBY) reported total revenue of USD 35.1 million, a decrease of 46.3% year over year. Net income for the period was reported as USD -133.9 million, a significant decline from the -8.3 million seen in Q2 of the prior year.
Analysis
GoodWhale has conducted an analysis of PLBY GROUP‘s financials and determined that it is classified as a ‘rhino’, indicating that it has achieved moderate revenue or earnings growth. This type of company would likely be of interest to investors who are looking for a moderate return on their investments. While PLBY GROUP has an intermediate health score of 4/10 in regards to its cashflows and debt, it is strong in its fundamentals and medium in terms of growth, profitability, and weak in asset and dividend. This suggests that PLBY GROUP may be able to sustain future operations in times of crisis. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Plby Group. More…
| Total Revenues | Net Income | Net Margin |
| 242.3 | -446.5 | -17.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Plby Group. More…
| Operations | Investing | Financing |
| -43.18 | 14.11 | 15.44 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Plby Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 382.54 | 329.98 | 0.72 |
Key Ratios Snapshot
Some of the financial key ratios for Plby Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -202.6% |
| FCF Margin | ROE | ROA |
| -19.5% | -259.9% | -80.2% |
Peers
In the home robotics industry, PLBY Group Inc competes with iRobot Corp, Johnson Outdoors Inc, and Jakks Pacific Inc. All four companies develop and manufacture products that vacuum, mop, and scrub floors, with PLBY Group Inc’s products being the most expensive. iRobot Corp has the largest market share, followed by PLBY Group Inc, Johnson Outdoors Inc, and Jakks Pacific Inc.
– iRobot Corp ($NASDAQ:IRBT)
iRobot Corporation designs, builds, and sells robots that perform dull, dirty, or dangerous tasks in homes, offices, healthcare facilities, and other settings. The company was founded in 1990 and is headquartered in Bedford, Massachusetts. As of 2022, iRobot has a market cap of $1.53 billion and a return on equity of -8.02%. The company’s products include the Roomba vacuum cleaner, the Braava mop, the Mirra pool cleaner, and the Looj gutter cleaner.
– Johnson Outdoors Inc ($NASDAQ:JOUT)
Johnson Outdoors Inc is a publicly traded company with a market capitalization of 496.85 million as of 2022. The company has a return on equity of 7.53%. Johnson Outdoors Inc is a leading manufacturer and marketer of branded seasonal, outdoor recreation products. The company’s product categories include camping, marine electronics, watercraft, and outdoor gear. Johnson Outdoors Inc’s brands include Coleman, Eagle Claw, K2, Old Town, and Sevylor.
– Jakks Pacific Inc ($NASDAQ:JAKK)
Jakks Pacific Inc is a leading designer and marketer of toys and consumer products with a wide range of products that are sold under various brand names. The company has a market cap of 182.02M as of 2022 and a Return on Equity of 97.18%. Jakks Pacific Inc is engaged in the design, marketing, and distribution of toys and consumer products. The company’s products are sold under various brand names, including Disney, Pixar, Star Wars, Marvel, and others. Jakks Pacific Inc has a wide range of products that are sold through its own website and through retail outlets. The company’s products are also sold through distributors and wholesalers.
Summary
Investors in PLBY GROUP should be cautious as the company’s second quarter earnings report showed a significant decrease in revenue and income. Total revenue of USD 35.1 million was reported, representing a 46.3% decrease year over year. Moreover, the net income was reported as USD -133.9 million, a much worse result than the -8.3 million from the same period in the previous year.
This is concerning news for investors and could signal an overall decline in the company’s fortunes. It is important for investors to keep an eye on the company’s financial performance in the coming quarters for any potential changes.
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