Business Context and Reporting Period
This Form 8-K Current Report is filed by Playboy, Inc. (PLBY) on March 26, 2026. The filing discloses a change in the Company's independent registered public accounting firm. The report covers events occurring between March 26, 2026, and March 31, 2026.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and audit firm transitions rather than financial performance data.
Material Changes
- Dismissal of Auditor: BDO USA, P.C. was dismissed as the Company's independent registered public accounting firm effective March 26, 2026.
- Engagement of New Auditor: RSM US LLP was engaged as the new independent registered public accounting firm for the fiscal year ending December 31, 2026, effective March 31, 2026.
- Historical Relationship: RSM previously provided tax services to the Company from 2022 through the first quarter of 2025.
Outlook, Risks, and Contingencies
Internal Control Weaknesses: The Company disclosed material weaknesses in its internal controls over financial reporting as of December 31, 2025. These weaknesses relate to entity-level controls, general information technology controls, documentation of formal accounting policies, management review controls, and inventory-related controls. As of the date of this filing, these weaknesses have not been remediated.
Audit Disagreements: There were no disagreements with BDO regarding accounting principles, financial statement disclosures, or auditing scope during the two most recent fiscal years or the interim period through March 26, 2026. BDO's reports for fiscal years 2024 and 2025 did not contain adverse opinions, disclaimers, or qualifications.
Consultations with New Auditor: No consultations occurred with RSM regarding accounting principles or reportable events prior to their engagement as the new auditor.
Investor Verification Checklist
- Verify the status of remediation efforts for the material weaknesses in internal controls over financial reporting.
- Review the letter from BDO USA, P.C. (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Monitor future filings for the initial audit opinion from RSM US LLP for the fiscal year ending December 31, 2026.
- Assess the potential impact of the auditor change on the Company's financial reporting timeline and investor confidence.