PLBY Group Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
PLBY$1.27+4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
(Unaudited; in thousands)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows From Operating Activities | ||
| Net loss | $(16,447) | $(37,680) |
| Net loss from continuing operations | $(16,447) | $(36,308) |
| Loss from discontinued operations, net of tax | $— | $(1,372) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 1,800 | 1,689 |
| Stock-based compensation | 1,834 | 5,219 |
| Loss on extinguishment of debt | — | 1,848 |
| Impairments | 2,417 | — |
| Amortization of right-of-use assets | 2,529 | 1,348 |
| Capitalized paid-in-kind interest | 1,904 | — |
| Inventory reserve charges | (248) | 6,108 |
| Deferred income taxes | 1,032 | (3,366) |
| Fair value remeasurement of liabilities | 12 | 2,826 |
| Other, net | 1,299 | 199 |
| Changes in operating assets and liabilities: | ||
| Receivables, net | 2,072 | 1,862 |
| Inventories | 4,099 | 1,543 |
| Contract assets | (31) | 457 |
| Prepaid expenses and other assets | 352 | 3,896 |
| Accounts payable | (4,247) | (2,117) |
| Deferred revenues | (1,614) | (3,164) |
| Operating lease liabilities | (2,798) | (1,507) |
| Other, net | (3,716) | (3,013) |
| Net cash used in operating activities - continuing operations | (9,751) | (22,480) |
| Net cash provided by operating activities - discontinued operations | — | 1,030 |
| Net cash used in operating activities | (9,751) | (21,450) |
| Cash Flows From Investing Activities | ||
| Purchases of property and equipment | (594) | (1,821) |
| Net cash used in investing activities - continuing operations | (594) | (1,821) |
| Net cash used in investing activities - discontinued operations | — | (30) |
| Net cash used in investing activities | (594) | (1,851) |
| Cash Flows From Financing Activities | ||
| Proceeds from issuance of common stock in rights offering, net | — | 47,600 |
| Proceeds from issuance of common stock in registered direct offering, net | — | 13,890 |
| Repayment of long-term debt | (76) | (45,400) |
| Net cash (used in) provided by financing activities | (76) | 16,090 |
| Effect of exchange rate changes on cash and cash equivalents | (260) | (2) |
| Net decrease in cash and cash equivalents and restricted cash | (10,681) | (7,213) |
| Balance, beginning of year | $31,676 | $35,624 |
| Balance, end of period | $20,995 | $28,411 |
| Cash and cash equivalents and restricted cash consist of: | ||
| Cash and cash equivalents | $19,042 | $24,928 |
| Restricted cash | 1,953 | 3,483 |
| Total | $20,995 | $28,411 |
| The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. | ||
| PLBY Group, Inc. | ||
|---|---|---|
| Consolidated Statements of Cash Flows (continued) | ||
| (Unaudited; in thousands) | ||
| Three Months EndedMarch 31, | ||
| 2024 | 2023 | |
| Supplemental Disclosures | ||
| Cash paid (refunded) for income taxes | $80 | $(979) |
| Cash paid for interest | $3,591 | $5,402 |
| Supplemental Disclosure of Non-Cash Activities | ||
| Right-of-use assets in exchange for lease liabilities - continuing operations | $600 | $1,192 |
| Right-of-use assets in exchange for lease liabilities - discontinued operations | $— | $190 |
| Sale of artwork in exchange for receivables | $1,504 | $— |
| Shares issued for the commitment fee for registered direct offering | $— | $1,250 |
| Shares issued pursuant to a license, services and collaboration agreement | $— | $125 |
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