PLBY Group (NASDAQ: PLBY) reported Q4 revenue rose 118% to $46 million versus the consensus estimate of $35.84 million.

Ben Kohn, Chief Executive Officer of PLBY Group, stated, “I’m thrilled with our fourth quarter and full year 2020 performance. Despite the headwinds of the pandemic, our globally diversified operations achieved fourth quarter revenue of $46 million, a 118% year-over-year increase, and full year revenue of $148 million, an 89% year-over-year increase. Our revenue growth accelerated across the business, driven by our expansion of direct-to-consumer digital commerce sales, and 20% annual growth of our highly profitable licensing business.”

Mr. Kohn continued, “2020 was an early, but pivotal, first step toward unlocking the tremendous potential value of our platform. With our successful business combination and public listing now complete, and the accretive acquisition of Lovers, a leading sexual wellness omni-channel retailer, we are in a strong position to aggressively expand in our four key categories of focus–sexual wellness, style and apparel, gaming and lifestyle, and beauty and grooming. The business is off to a great start in 2021 and we are raising our outlook to project revenue to exceed $200 million this year. As a high-growth consumer lifestyle company, we are focused first and foremost on continuing to accelerate our revenue growth to deliver substantial long-term value for our shareholders.”

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