PLBY - Earnings call 3 2023 | PLBY Group, Inc.

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Operator

Good afternoon, everyone, and welcome to PLBY Group's Third Quarter 2023 Earnings Conference Call. Hosting today's call are Ben Kohn, Chief Executive Officer; and Marc Crossman, Chief Financial Officer and Chief Operating Officer. [Operator Instructions] While we wait for the queue to fill, I would like to hand the call over to Ashley DeSimone of ICR.

Ashley DeSimone

Thank you, operator. Good afternoon. PLBY everyone entirety information and website by filings today remind qualified today Form and to be made its may in the by PLBY like Group's that the discussed the is XX-Q accessed website. I'd on which SEC's Group, Form X-K not will statements including website. Please in call statements note historical Today's replay made also that financial PLBY forward-looking to during webcast, being posted is call, projections that other or Group's are a this constitute may and be Investor nature, Relations statements. and basis and Such performance events regarding made statements. undertake at on statements to business do we are of the PLBY and obligation made, Group's views these any assumptions the not they're time update future

consider cause from risks with to actual Forward-looking statement made more call. statements any and PLBY and Group's for undue in are reliance information. you Group's forward-looking its statements including those forward-looking those all on results statements. cautionary subject carefully This during differ and set forecasts, not forth SEC, filings to PLBY place could results to refer the to Do historical should which this risks, applies

hand that, begin will with X-K to today Form session. I Operator? Group call call, PLBY Such measures and with refer to its in Form directly most not to Group non-GAAP measures non-GAAP of available filed accordance principles. financial release generally its XX-Q earnings Q&A measures prepared measures. is in filed. With A PLBY accounting the to may are the accepted reconciliation back the in operator this financial During the non-GAAP over comparable GAAP

Operator

first Genuity. Jason our question from comes [Operator of Canaccord the Tilchen with Instructions] line And

Jason Tilchen

Great.

at, convinced you're you're Maybe at Honey in that going release as that about I'm factors you think curious some broader different looking about some as you're what the beyond continuing is of curious, the fits you and forward. how just into weighing mentioned options asset platform not First are currently that off, the what are selling it I'm the your Birdette. moment? press XXX% of

Ben Kohn

Ben. It's Jason. Thanks,

think in Honey now, the are improvements I calls to talked operational about we Birdette. making right we've previous

measures we instituting that will the quarter the to it us increase said will shipping really we've start prices wages, we inflation of a products, yes, expedited are product and last We've years. XX% taking. and probably as until -- policies, take cost our costs. And faced shipping free we're in we and quarter, next but with the as X second shipping As costs that raised today, all also changed fourth rising for well other have we have year our in not price

macro from especially the environment right side, it's selling on we right that. time by the don't and to M&A maximize Given think value shareholder now retail the

pursuing able and the sheet. using business partnerships strategic balance are are bring help a However, to partner alternatives to without we cash our at be might we in looking where us grow from

Jason Tilchen

on Great. really on helpful. follow-up a business. but just the licensing And Honey not That's Birdette then

for offer Chinese prepared an release potentially of in some firm about the press in mentioned Chinese equity You having remarks a private the trademarks. the making

Just going market about in business forward. licensing a impact curious or you how of the shape expand bit would could the that little if trajectory that

Ben Kohn

of terminate we've as have We decided well previously, multiple them. as legal the release extensive I can old can us, audits we've and talked we of -- this as and not past have partners, point. partners press our There's violations Sure. we been months, at violations much a say a of this number in is done those about few well, a I from financial What the paying perspective. our they agreements talked both haven't to say, saw over and that, about not incurable so

new as strong buy our have licensing some to received We interest offer subs brand. might unsolicited at IP. well from be we same their the an the interested in time, partners as And that of

and business, We and have would we're In that, the from we in But current it's are China not of receive situation, deal still the would that business moving be us et a or would deal evaluating given forward. valuation, we not its whether again, of early a cash. it perspective. in evaluating geopolitical return, selling format, China that makes significant amount cetera. company a and we for But all still our the business, sense

Jason Tilchen

I the you've the an greater really of That's if was helpful. you membership in introduce change that I just underlying of some you on curious lot just also metrics that the seeing rebranding of plans about a tier. And wondering and perhaps last in shared update discussing one that the been Great. of know one. -- could key trends months. are some platform. to I'm you're some to what recent But sort share regards

Ben Kohn

platform is. Yes. with We're creator the happy very still where

that not about we're talking is not the by because we're we revenue. What be forward, think judged. digital to is we be be talking to should going GMV Moving which about going metric

not to to believe We OnlyFans. we being I don't are clear, with we in be -- at Costco compete think trying are Playboy. not

view think we -- I Marcus Neiman as than from more a a ourselves Costco.

more really which money We're ways other This where addition program way than There's makes live for Playboy with can memberships affiliate creators. interact building platform. the participate we events. with value can sell and make resonates a membership. with get sense. unique Club, the for paid. They think also any they we've membership, have to proposition is the of creators an in on have And to, to from place people so we a really, with talked But It people. we Playboy the

for And about more much us, it's revenue. so

the split XX-XX set for should that creator be moving at tiering that rolled are where out also think believe with nor XX-XX. had creator OnlyFans necessarily We market that We relevant platform is forward. a we don't we've the

our going forward to focusing be whole offering. digital digital one but not revenue entire into moving directly, ecosystem together in we're so we sorry to question And bring answer on the as

Operator

next our Pendy with comes line the of And Chardan. from question Greg

Gregory Pendy

know, Just the You flipping doing you be seeing to is you're back mean, Honey ability mean gradually where competitively think positioned? let months. are in said you of going prices? do of I us what Birdette. over retail kind raise you to space it the that X I terms over to Can in next just the environment

Ben Kohn

Thanks, Greg. year-over-year. 'XX we month is think year, a is example, either which had we great of in that Yes. no 'XX, October about sales this. Look, a up October I But of October XX% talked versus in were we and

we shipping thresholds. the to changes expedited free shipping, right seeing to And product, demand also made the so are easily with for already that. We've

have up. to not we product. And to have raise you impact demand look labor the competitive landscape, other consumer gone room we any the We have for and Obviously, raise And seen believe costs at when we've that seen prices. prices. others

is start will fourth and implementing the that here something our given not, And that to quarter take across based the that in have second us suite. items full so we how just factories, quarter. tag the until it have we will We on product

Gregory Pendy

Honey where for store at and any And us there Great. year Birdette. just was new on now, it plans then what one the Can are if you last right base sits remind stores? just more

Marc Crossman

the in X We've I has the think, number had got you, but So was U.K. XX get and since U.S. base year XX ago, in I'll new Greg, got opened, I Marc. the we it's store for think the And Australia. a Right X U.S., we the stores. now, then, in exact that have in

Ben Kohn

Yes. new open think we stores. I Greg, would like to

to best moving -- bring it to are we us sheet based we expand given time a macro committed that We on to to and of use in on XXX% a about. exploring, talked just said, we light we business. strategic that's after capital resources becoming think consulting the us our to are we our our think partner just capital that help potentially that limited not shareholder debt with sell capital-light but the for model of I the alternatives have, that the environment. as balance It's advisers don't right to

Operator

over reached closing the And the to we remarks. of I'll turn for management Therefore, the session. have question-and-answer call the back end

Ben Kohn

We you. look listening, you to call talking full to our discuss forward everyone appreciate to year next Thank results. and we on XXXX

Operator

may time. you your today's your Thank for participation. conference, And you this disconnect concludes this lines at and

PLBY (PLBY) 9 Nov 232023 Q3 Earnings call transcript