Shutterstock Inc Stock Price, News & Analysis

Shutterstock (NYSE: SSTK) reported record revenues and Adjusted EBITDA for 2024, with full-year revenue reaching $935.3 million, a 7% increase compared to 2023. The company's Content business grew 3% to $760.0 million (81% of total revenue), while Data, Distribution, and Services revenue increased 28% to $175.3 million (19% of total revenue).

Full-year net income was $35.9 million ($1.01 per diluted share), down from $110.3 million ($3.04 per share) in 2023. This decrease was primarily due to a non-recurring $50.3 million bargain purchase gain recognized in 2023 from the Giphy acquisition. Adjusted EBITDA increased 3% to $247.1 million, with a margin of 26.4%.

For Q4 2024, revenue was $250.3 million, up 15% year-over-year, with a net loss of $1.4 million. The company declared a quarterly dividend of $0.33 per share, payable March 20, 2025. Shutterstock also announced a pending merger of equals with Getty Images on January 7, 2025, subject to regulatory approvals and other closing conditions.

Shutterstock (NYSE: SSTK) has announced it will release its fourth quarter 2024 business and financial results on Tuesday, February 25, 2025, before market opening. Due to the company's pending merger agreement with Getty Images Holdings, Shutterstock will not conduct a conference call or provide financial guidance alongside its Q4 2024 results.

Shutterstock (NYSE: SSTK) has announced its return to the 2025 Sundance Film Festival as the Official House Photographer and Portrait Studio Partner. The festival will run from January 23 to February 2, 2025, in Park City and Salt Lake City, Utah.

The company will feature its exclusive VIP Portrait Studio, operated by Hollywood photographer Jay L. Clendenin, and bring back the Shutterstock Chalet for VIP guests. New this year, GIPHY will be on-site creating custom GIFs of talent and VIPs. Additionally, Shutterstock Studios will participate in BrandStorytelling 2025, hosting a panel session on brand-funded programming and audience engagement.

Shutterstock Editorial will provide coverage of premieres, parties, and events, adding to their portfolio of 12,000 annual VIP events. The company's services include raw footage, media edits, social media assets, and packaged content for high-profile events like the Golden Globes, Oscars, and Super Bowl.

Shutterstock (NYSE: SSTK) has appointed Matt Furlong as Chief Marketplace Officer, effective January 13, 2025. Furlong will lead the company's Marketplace division and join the executive leadership team, overseeing individual user products and solutions across ecommerce platforms.

In his new role, Furlong will be responsible for shaping the strategy, operations, and growth of the Marketplace division, including alignment across Shutterstock's creative content brands such as PremiumBeat, Pond5, and TurboSquid. He will also manage the Global Customer Success team.

Furlong previously served as CEO of GameStop for two years, focusing on customer experience and business transformation. His prior experience includes leadership roles at Amazon, where he served as Country Manager for Amazon Australia, and a 12-year tenure at P&G.

Lightricks has partnered with Shutterstock (NYSE: SSTK) to license and utilize Shutterstock's video library for training its open-source video generation model, LTX Video (LTXV). The collaboration marks Shutterstock's first implementation of a new 'research license' approach, designed to lower barriers for open-source model training.

The partnership enables Lightricks to access high-quality HD and 4K video assets from Shutterstock's extensive library of over one billion royalty-free assets. This research license model offers a cost-effective path for companies to build and refine AI tools using premium, licensed data during the research and development stage, before committing to a full commercial license.

This announcement follows Lightricks' release of LTXV 0.9 to the open-source community in November 2024, with plans to enhance model quality through Shutterstock's premium video data.

GIPHY, a Shutterstock (NYSE: SSTK) subsidiary and leading GIF library, announces a partnership with TikTok to integrate AI-powered GIF recommendations into TikTok's direct messaging platform. The integration will provide TikTok users with seamless access to GIPHY's vast library for enhanced chat expression. The feature is expected to roll out in Q4 or early Q1, leveraging TikTok's recommendation engine to algorithmically suggest relevant GIFs from GIPHY's collection. This collaboration aims to strengthen TikTok's messaging experience and foster more creative communication among its user base.

Shutterstock (SSTK) reported record Q3 2024 results with revenue of $250.6 million, up 7% year-over-year. Net income was $17.6 million ($0.50 per share), compared to $28.4 million ($0.79 per share) in Q3 2023. Content revenue increased 14% to $203.7 million, while Data, Distribution, and Services revenue decreased 14% to $46.9 million.

The company completed its $250 million acquisition of Envato in July 2024. Based on strong performance, Shutterstock raised its 2024 guidance to revenue of $935-940 million and adjusted EBITDA of $247-250 million. The company also announced CFO Jarrod Yahes's departure and the appointment of Rik Powell as the new CFO.

Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform, has announced it will report its third quarter 2024 business and financial results on Tuesday, October 29, 2024, before the market opens. The company will host a conference call at 8:30 a.m. ET to discuss the results. Investors and interested parties can access the live webcast of the call through the Company's website at https://investor.shutterstock.com or via a direct link provided.

The webcast is listen-only, and a replay will be available on the same day at approximately 10:30 a.m. ET on the Company's website. This announcement provides an opportunity for stakeholders to gain insights into Shutterstock's performance and future outlook.

Shutterstock reported Q2 2024 financial results, with revenue of $220.1 million, up 5% year-over-year. Net income decreased to $3.6 million from $50.0 million in Q2 2023, primarily due to a one-time gain in the previous year. Adjusted EBITDA increased 3% to $62.1 million. The company completed its acquisition of Envato for $250 million. Content revenue declined 9% to $170.0 million, while Data, Distribution, and Services revenue grew 129% to $50.1 million. Shutterstock updated its 2024 guidance, projecting revenue growth of 6-7% year-over-year. The company declared a quarterly dividend of $0.30 per share.