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. (NYSE: SSTK) is a global leader in digital creative solutions, connecting professionals with premium images, videos, and AI-powered tools. This news hub provides investors and creatives with essential updates about the company’s strategic direction, financial performance, and market innovations.
Discover official press releases, earnings reports, and analyses covering Shutterstock’s licensing partnerships, technology advancements like generative AI integrations, and strategic acquisitions. Our curated feed ensures you never miss developments impacting the digital media landscape.
Key updates include quarterly financial results, content library expansions, leadership changes, and collaborations shaping visual communications. Bookmark this page for streamlined access to verified information about one of the stock photography market’s most dynamic players.
Shutterstock (NYSE: SSTK) reported strong financial results for Q1 2023, showing a revenue increase of 8% to $215.3 million. Adjusted EBITDA rose 27% to $69.8 million, with net income climbing 24% to $32.8 million. Key growth drivers included a 33% increase in Enterprise sales, bolstered by data partnerships and acquisitions like Pond5. The company also recorded a significant rise in subscription metrics, with subscribers growing to 559,000. Operating cash flow improved by $44.1 million, resulting in free cash flow of $50.9 million. Shutterstock raised its 2023 guidance, anticipating revenue between $844 million and $853 million. CEO Paul Hennessy expressed optimism regarding the company's ongoing investments and integration of generative AI.
Shutterstock, Inc. (NYSE: SSTK) will report its first quarter 2023 financial results on April 25, 2023, before the market opens. The company, a leader in creative workflow solutions, will host a conference call at 8:30 a.m. ET to discuss the results, which will be available for live webcasting. Interested participants can register for the Q&A session to receive dial-in details. A replay of the call will be accessible on the company's website later in the day.
Shutterstock specializes in providing extensive, high-quality creative resources across various media platforms, empowering brands and newsrooms with innovative technologies.
Shutterstock (NYSE: SSTK) has partnered with NVIDIA to develop generative AI capabilities that enable rapid creation of 3D content using text prompts. This collaboration utilizes NVIDIA's Picasso generative AI cloud service, significantly reducing the time required to generate high-quality 3D models from hours to minutes. The new feature will be integrated into Shutterstock's platform and will expand the tools available to 3D artists, allowing them to design complex digital twins efficiently. This initiative aligns with Shutterstock's strategy to leverage its extensive asset library to tap into a large market opportunity in the evolving 3D content space.
Shutterstock reported strong financial results for Q4 and full year 2022, with revenues reaching $217.7 million in Q4, marking a 6% increase year-over-year, and full-year revenues of $827.8 million, a 7% growth. Adjusted EBITDA rose 49% to $58.3 million in Q4, demonstrating improved profitability with an adjusted EBITDA margin of 26.8%. The company integrated generative AI into its Creative Flow platform, enhancing its offerings. However, net income fell 58% to $7.0 million in Q4 due to an impairment charge, and subscriber revenue increased to $346.6 million for the full year. 2023 guidance projects revenues between $836 million and $853 million.
Shutterstock (NYSE: SSTK) will host its Investor Day on February 28, 2023, starting at 9:30 a.m. ET at its global headquarters in the Empire State Building. The event, including a Q&A session, will showcase Shutterstock's vision, strategy, and financial outlook.
The in-person event will feature immersive showcases such as an Extended Reality (
On January 30, 2023, Shutterstock, Inc. (NYSE: SSTK) announced a cash dividend increase to $0.27 per share, marking a 13% rise from the previous $0.24. This dividend, payable on March 16, 2023, rewards stockholders of record as of March 2, 2023. CEO Paul Hennessy emphasized that this decision reflects the company's margin expansion success and positive outlook on future cash flows. The company continues its commitment to delivering shareholder value after increasing dividends for three consecutive years.
Shutterstock, Inc. (NYSE: SSTK) has launched its new AI image generation platform, designed for global customers to create high-quality visuals through simple text prompts. The platform enhances Shutterstock's Creative Flow, allowing seamless integration of stock searching, design, and publishing. Built on partnerships with OpenAI, Meta, and LG AI Research, it focuses on ethical AI usage, ensuring artists are compensated. The platform supports over 20 languages and offers a user-friendly interface. This innovation aims to democratize content creation, eliminating the need for advanced design skills and enhancing the creative process.
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