PLBY Group reports Q2 EPS ($1.79) vs. (17c) last year

Reports Q2 revenue $35.1M, consensus $48.84M. The company ended the second quarter with $36.4M in restricted and unrestricted cash. “During the second quarter, we continued to make significant progress transitioning the business to a capital-light model and made substantial improvements to our creator platform. The creator platform continues to demonstrate compelling growth at this early stage, and generated GMV that was 2.2x over Q1’23, after another quarter of rapid topline expansion. If you annualize our weekly GMV today, assuming zero growth, we would do in excess of $35M of GMV, up from the $25M on our Q1’23 earnings call. At the end of July, we had almost 2.6M registered users, up 37% from approximately 1.9M at the end of April. In addition, we had close to 4,000 earning creators at the end of July, up 82% from 2,200 at the end of April. Of the approximately 4,000 earning creators, almost 1,400 began earning for the first time in July, primarily in the second half of the month.” said CEO Ben Kohn.