Home Financial Markets Plby Group Inc (PLBY) stock had a good Friday but Why?

Plby Group Inc (PLBY) stock had a good Friday but Why?

PLBY Group Inc. (PLBY) shares gained 17.01% to trade at $54.9 in the after-market of Friday, May 14, 2021. Earlier, PLBY’s stock gained 16.11% to close Friday’s session at $46.92. PLBY shares down 4.89% in the past week. Over the past three months, the stock has gained 280.84%, while over the past six months, it has soared 367.33%.

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Recent financial results

On May 12, 2021, PLBY Group, Inc released financial results for the first quarter ended March 31, 2021.

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Q1 2021 financial highlights

  • PLBY earned a revenue of $42.7 million in Q1 2021 compared to $31.78 million in Q1 2020.
  • It suffered a net loss of$5.0 million in Q1 2021 compared to $2.4 million in Q1 2020.
  • Total cost and expenses were $47.2 million in Q1 2021 compared to $29.25 million in Q1 2020.
  • Q1 2021, adjusted EBITDA was $6.7 million in Q1 2021 compared to $6.8 million in Q1 2020. 

Playboy’s entry into the crypto art world 

On April 06, 2021, Playboy, the iconic brand owned by PLBY Group, Inc. and Nifty Gateway, announced a long-term partnership to create a series of Playboy x Nifty digital art collaborations on Nifty Gateway’s blockchain-powered marketplace.

The partnership will begin 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.

Fourth-quarter & FY 2020 financial results

On March 23, 2021, PLBY Group, Inc released its financial results for the fourth quarter and full-year 2020.

Q4 2020 financial highlights

  • Q4 2020 net revenue was $46.3 million compared to $21.4 million in Q4 2019.
  • Total cost and expenses were $ 41.4 million in Q4 2020, compared to $25 million in Q4 2019.
  • PLBY Net income (loss) was $0.5 million in Q4 2020 compared to $6.1 million in Q4 2019
  • The company’s adjusted EBITDA was $ 6.5 million in Q4 2020 compared to $3.6 million in Q4 2019.

FY 2020 financial highlights

Conclusion

PLBY is a strong brand and its surging on Friday had no reason, as of this writing. Based on its past performance, we can expect it to continue its growth in the coming days.

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