Playboy, Inc. PP&E Disclosure
| December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
Software (1) | $ | 7,636 | $ | 7,479 | |||||||
| Leasehold improvements | 10,174 | 9,759 | |||||||||
| Equipment | 3,660 | 3,743 | |||||||||
Furniture and fixtures (2) | 28 | 1,810 | |||||||||
| Construction in progress | 667 | 260 | |||||||||
| Total property and equipment, gross | 22,165 | 23,051 | |||||||||
| Less: accumulated depreciation | (17,938) | (18,180) | |||||||||
| Total | $ | 4,227 | $ | 4,871 | |||||||
_________________ (1) The net book value of our software was $0.5 million and $0.3 million as of December 31, 2025 and 2024, respectively, and primarily related to certain portions of our playboy.com website. | |||||||||||
(2) The decrease in furniture and fixtures is due to the write-off of certain of our property, plant and equipment items as a result of our decision to sublease certain of our corporate office space during the second quarter of 2025, which resulted in a $0.4 million loss on disposal of assets for the year ended December 31, 2025. | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 13, 2025 | |
| 2023 | Mar 29, 2024 | |
| 2022 | Mar 16, 2023 | |
| 2021 | Mar 16, 2022 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.