Welcome to our dedicated page for Shutterstock news (Ticker: SSTK), a resource for investors and traders seeking the latest updates and insights on Shutterstock stock.
Shutterstock, Inc. develops licensable digital content, creative services and GenAI solutions for businesses, creatives, brand teams and technology partners. Company news commonly covers product launches across images, video, music, sound effects, AI video generation and AI-native content discovery, as well as the expansion of licensed training datasets, evaluation tools and model-training services.
Updates also address operating results for its Content and Data, Distribution and Services offerings, customer and partner activity, dividends, shareholder voting matters, material agreements, capital-structure disclosures, governance topics and regulatory developments tied to the company’s public-company operations.
Shutterstock, Inc. (NYSE: SSTK) announced on Oct. 1, 2020, that Sara Birmingham has joined as Chief Human Resources Officer (CHRO). With over 20 years of HR leadership experience, Birmingham will drive a transformational people strategy to support Shutterstock's growth, focusing on employee engagement and diversity. CEO Stan Pavlovsky emphasized her role in the company's transition to a subscription-based model. Birmingham previously held senior HR roles at Thomson Reuters, championing diversity initiatives. Her appointment underscores Shutterstock’s commitment to enhancing its corporate culture.
Shutterstock, Inc. (NYSE: SSTK) will release its Q3 2020 financial results on October 27, 2020, before market opens. The company will hold a conference call at 8:30 a.m. ET to discuss the results, accessible at (844) 634-1442 in the U.S. A live audio webcast will also be available on Shutterstock's website. After the call, a replay will be accessible until November 3, 2020. As a leading provider in the stock media industry, Shutterstock continues to serve global clients with over 340 million images and 19 million video clips.
Shutterstock, Inc. (NYSE: SSTK) announced the pricing of its public offering of 2,580,000 shares at $48.50 each, with 516,000 shares sold by the company and 2,064,000 by founder Jon Oringer. The offering is expected to close on August 14, 2020. The underwriters have a 30-day option to purchase an additional 387,000 shares. Proceeds will be used for general corporate purposes, while Oringer's sale will not benefit the company. BofA Securities and Morgan Stanley lead the offering, which follows a shelf registration statement filed on August 10, 2020.
Shutterstock, Inc. (NYSE: SSTK) has announced a public offering of $250 million in common stock. Of this, $200 million will be sold by founder Jon Oringer, while Shutterstock will sell $50 million. Additionally, Oringer may grant underwriters a 30-day option for an extra $37.5 million of shares. The proceeds will be used for general corporate purposes. The offering was registered with the SEC, and BofA Securities and Morgan Stanley are the joint book running managers.
Shutterstock (SSTK) reported its Q2 2020 financial results, showcasing resilience amidst challenging conditions. Revenue totaled $159.2 million, down 2% year-over-year, primarily due to a 6% decline in Enterprise sales. However, adjusted EBITDA rose 48% to $37 million, highlighting effective margin expansion strategies. Subscriber count increased 29% to 223,000, driving an 8% rise in subscriber revenue to $62.7 million. The company's net income surged to $19 million, up from $3.3 million in Q2 2019. Free cash flow decreased to $28.6 million, impacted by one-time payments related to past acquisitions.
Shutterstock (NYSE: SSTK) will announce its Q2 2020 business and financial results on July 28, 2020, prior to market opening. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss the outcomes, accessible via U.S. and international phone lines or through a live audio webcast on their website. Additionally, a recorded replay will be available post-call until August 4, 2020. As a global provider of high-quality content, Shutterstock continues to support businesses, marketing agencies, and media organizations worldwide.