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LOS ANGELES - Playboy, Inc. (NASDAQ:PLBY), currently trading at $1.54 with a market capitalization of $145 million, announced Wednesday it has legally finalized its corporate name change from PLBY Group, Inc. to Playboy, Inc. According to InvestingPro data, the stock has shown impressive momentum with a 92.5% return over the past year.
The company said the new name better aligns with its flagship brand and reflects the current and future focus of its business operations. The name change was previously approved by stockholders at the company’s 2025 annual meeting. While maintaining strong gross profit margins of 67%, the company faces challenges with its significant debt burden of $200 million.
Despite the corporate rebranding, Playboy will continue trading on the Nasdaq exchange under its existing ticker symbol "PLBY," and no changes have been made to the CUSIP number for the company’s common stock.
The company noted that the name change does not affect stockholder rights, and no action is required from stockholders in connection with the change.
Playboy describes itself as a global pleasure and leisure company that connects consumers with products, content, and experiences. The brand is available in approximately 180 countries worldwide.
The information was provided in a company press release statement.
In other recent news, PLBY Group reported its first positive EBITDA since 2023, achieving $2.4 million in the first quarter of 2025. The company exceeded revenue expectations with $28.9 million, surpassing the forecasted $27 million, while earnings per share matched the forecast at -$0.10. This financial improvement was largely driven by a 175% increase in licensing revenue, highlighting the company’s strategic focus on high-margin deals. Additionally, PLBY Group announced its inclusion in the Russell Microcap Index, effective June 30, 2025, which will provide broader exposure to investment managers and institutional investors.
The company also revealed new retention agreements for its top executives, including CEO Ben Kohn, CFO Marc Crossman, and General Counsel Chris Riley, with significant restricted stock units granted under the 2021 Equity and Incentive Compensation Plan. These agreements are part of PLBY Group’s strategy to retain key leadership. Furthermore, the company is exploring growth opportunities in gaming and hospitality, with plans for future licensing deals and new content initiatives. As PLBY Group transitions to an asset-light business model, it continues to focus on diversifying revenue streams and enhancing profitability.
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