Shutterstock Reports Third Quarter 2026 Financial Results

(NYSE:SSTK) Shutterstock, Inc. announced financial results for the third quarter ended September 30, 2026. Jon Oringer, Chairman and Chief Executive Officer, stated that the company maintained a strong focus on operational discipline and cost management, reducing third-quarter Product Development and SG&A expenses by 30% year-over-year to $96 million, representing $39 million in quarterly savings, and reducing total headcount by 16% year-to-date. The company is on target to deliver $60 million in annualized run-rate operating expense reductions as previously committed. Hichame Assi serves as President and COO, with Scott Grossman, Senior Vice President, Global Head of Finance, assuming the role of Interim Chief Financial Officer following the immediate departure of Rik Powell, who will leave the company effective November 13, 2026. Third quarter 2026 revenues were $173.9 million compared to $260.1 million in the third quarter of 2025. Net loss was $197.8 million compared to net income of $13.4 million in the prior year period, with the net loss including a $195.6 million non-cash, after-tax goodwill impairment charge. Net loss per diluted common share was $5.35 compared to net income per diluted common share of $0.37. Adjusted net income was $16.7 million compared to $36.4 million, and adjusted net income per diluted common share was $0.45 compared to $0.99. Adjusted EBITDA was $41.8 million compared to $79.4 million. Third quarter revenue decreased by $86.2 million or 33% year-over-year. Content product offering revenue decreased by $36.4 million, or 19%, to $158.1 million, representing 91% of total revenue, primarily due to weakness in new customer acquisition. Data, Distribution, and Services product offering revenue decreased by $49.8 million, or 76%, to $15.8 million, representing 9% of total revenue. The company recorded a $203.3 million non-cash goodwill impairment charge in the third quarter of 2026, following a triggering event related to the dividend suspension announced on July 22, 2026. Additional expenses included $0.4 million of unrealized losses related to the investment in Meitu, Inc., $0.5 million of costs related to the proposed merger, $2.6 million of strategic advisory and other fees, and $4.3 million of workforce optimization expenses. Net loss margin was 113.7% for the third quarter of 2026, compared to net income margin of 5.1% in the third quarter of 2025. Adjusted EBITDA margin was 24.0% compared to 30.5%. Cash and cash equivalents decreased by $22.7 million to $110.5 million at September 30, 2026, compared with $133.2 million at June 30, 2026. Net cash from operating activities was $18.3 million, offset by $29.8 million of net cash used in financing activities and $9.8 million of net cash used in investing activities. Net cash from operating activities included $5.0 million in contributor royalty payments, an $8.6 million reduction in deferred revenue, and $4.3 million of payments related to the proposed merger. Cash used in investing activities included $9.8 million in capital expenditures, $0.3 million of content acquisition, and was partially offset by $0.1 million received as Giphy Retention Compensation. Cash used in financing activities included $30.0 million of repayments on the revolving credit facility. Adjusted free cash flow was $12.5 million for the third quarter of 2026, a decrease of $62.7 million from the third quarter of 2025. At the end of the period, subscribers totaled 890,000 compared to 1,060,000 in the prior year. Subscriber revenue was $95.1 million compared to $107.2 million. Average revenue per customer for the last twelve months was $289 compared to $279. Paid downloads were 90.9 million compared to 111.7 million. The company’s non-GAAP financial measures include adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted net income per diluted share, revenue growth on a constant currency basis, and adjusted free cash flow, with definitions and reconciliation provided in the release.

Shutterstock Reports Second Quarter 2026 Financial Results

(NYSE: SSTK) Shutterstock, Inc. announced financial results for the second quarter ended June 30, 2026, reporting revenues of $221.8 million compared to $267.0 million in the second quarter of 2025. The company recorded a net loss of $155.9 million, which includes a $163.4 million non-cash, after-tax goodwill impairment charge, compared to net income of $29.4 million in the prior year period. Adjusted net income was $30.0 million, down from $42.9 million, and adjusted EBITDA was $65.1 million, a decrease from $82.2 million. Cash and cash equivalents decreased by $29.3 million to $133.2 million at June 30, 2026, with a $35.0 million payment for the settlement of the FTC's civil investigative demand impacting liquidity. The company has taken cost actions over the past 18 months equating to over $70 million of annualized run-rate operating expense reductions and is targeting an additional $60 million in annualized run-rate operating expense reductions by the end of the year. Management will not be hosting the previously scheduled conference call or issuing guidance for the remainder of 2026. The company projects further cost reductions and plans to refine its long-term strategy.

Shutterstock Announces Capital Allocation Update

(NYSE: SSTK) Shutterstock, Inc. announced that at a meeting held on July 20, 2026, its Board of Directors resolved to suspend the Company's future quarterly cash dividend. The Board's determination reflects its ongoing review of the Company's capital-allocation priorities and its focus on deploying capital to support long-term value creation for shareholders, including reducing debt, minimizing related interest expense and strengthening financial flexibility. Any future declaration and payment of dividends, and the amount thereof, will remain subject to the discretion of the Board and will depend upon the Company's results of operations, financial condition, capital requirements, contractual restrictions, applicable law, and such other factors as the Board deems relevant. The press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this press release relate to, among other things, the Company's capital allocation strategy, the suspension of the Company's quarterly cash dividend, the Company's plans with respect to debt reduction, interest expense management and financial flexibility, and any future declaration and payment of dividends. Shutterstock offers access to one of the world's largest and most diverse collections of high-quality licensable assets, specialized training datasets, evaluation tools, and end-to-end strategic partnerships for the full model training lifecycle.

Shutterstock, Inc.: Termination of a Material Definitive Agreement

(NYSE:SSTK) Shutterstock, Inc. filed an Item 1.02: Termination of a Material Definitive Agreement.

Shutterstock Reports First Quarter 2026 Financial Results

Shutterstock, Inc. (NYSE: SSTK) reported its financial results for the first quarter ended March 31, 2026, showing a revenue decrease to $199.2 million from $242.6 million in the prior year period. The company posted a net loss of $47.6 million compared to net income of $18.7 million in Q1 2025, with adjusted EBITDA falling to $42.7 million from $63.4 million. The company continues to invest in long-term growth areas, particularly in Data Licensing and AI Services, and remains committed to its pending merger with Getty Images despite regulatory challenges in the United Kingdom. Cash and cash equivalents decreased to $162.5 million, and a quarterly dividend of $0.36 per share was declared.