Shutterstock, Inc.

Listed Company

SSTKCIK 0001549346NYSELarge AcceleratedServices-Computer Processing & Data PreparationDelawareFY ends Dec 31

Period

FY 2025

Revenue

$989.92M

Net Income

$45.50M

Total Assets

—

Equity

—

Shares Out

36.74M

Op. Cash Flow

$166.69M

Business

Shutterstock, Inc. is a global creative platform that connects brands, businesses and creators to a searchable library of high-quality licensed content. It offers digital content including images, footage, music, 3D models and generative AI content, together with metadata licensing, GIF distribution via Giphy, custom production through Shutterstock Studios and other data, distribution and white-glove services. Its business is organized into Content and Data, Distribution, and Services offerings and operates multiple brands (e.g., Shutterstock, Envato, Pond5, TurboSquid, PicMonkey). Shutterstock distributes content worldwide through self-serve digital properties, APIs, third‑party resellers and live sales and client management teams serving customers across North America, Europe and other international markets.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	990	935	875	828	773
Cost of revenue	407	396	353	314	278
Sales and marketing	221	223	215	203	205
Product development	89	88	96	65	52
General and administrative	198	159	143	133	131
Total operating expenses	915	867	806	734	665
Income from operations	75	69	68	94	108
Bargain purchase gain	0	0	50	0	0
Interest expense	−17	−11	−2	−1	—
Other income, net	17	4	6	−1	−3
Income before income taxes	75	63	122	91	105
Provision for income taxes	30	27	12	15	13
Net income	45	36	110	76	92
Basic (in dollars per share)	1.29	1.02	3.07	2.11	2.52
Diluted (in dollars per share)	1.25	1.01	3.04	2.08	2.46
Basic (in shares)	35	35	36	36	37
Diluted (in shares)	36	36	36	37	37

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	178	111	101	115	314
Accounts receivable, net of allowance of $3,431 and $3,101	113	95	91	67	48
Prepaid expenses and other current assets	48	49	101	33	26
Total current assets	339	256	293	216	388
Property and equipment, net	63	66	64	55	48
Right-of-use assets	10	14	15	18	35
Intangible assets, net	216	248	184	173	124
Goodwill	575	570	383	382	220
Deferred tax assets, net	61	71	25	17	11
Other assets	93	84	71	22	27
Total assets	1,356	1,309	1,036	881	852
Accounts payable	14	9	9	7	10
Accrued expenses	130	127	131	89	100
Contributor royalties payable	94	81	55	39	29
Deferred revenue	213	225	203	187	181
Debt	158	158	30	50	0
Other current liabilities	19	25	24	11	14
Total current liabilities	628	625	452	384	334
Deferred tax liability, net	1	2	4	4	3
Long-term debt	117	120	0	—	—
Lease liabilities	17	23	29	36	37
Other non-current liabilities	11	20	23	10	10
Total liabilities	775	791	509	434	383
Commitments and contingencies (Note 18)	—	—	—	—	—
Common stock, $0.01 par value; 200,000 shares authorized; 41,049 and 40,395 shares issued and 35,528 and 34,874 shares outstanding as of December 31, 2025 and December 31, 2024, respectively	410,000	403,000	399,000	396,000	392,000
Treasury stock, at cost; 5,521 shares as of December 31, 2025 and December 31, 2024	−270	−270	−228	—	—
Additional paid-in capital	520	468	424	391	377
Accumulated other comprehensive loss	−5	−17	−12	−15	−11
Retained earnings	335	336	343	271	230
Total stockholders equity	581	518	527	447	468
Total liabilities and stockholders equity	1,356	1,309	1,036	881	852

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	91	88	80	68	49
Deferred taxes	8	−11	−26	−11	−2
Non-cash equity-based compensation	61	56	49	36	36
Loss on impairment of long-term investment	5	0	0	—	—
Bad debt expense	713,000	−2	2	4	137,000
Unrealized gain on investments, net	−21	−2	0	0	—
Accounts receivable	−16	5	−24	−22	−4
Prepaid expenses and other current and non-current assets	11	−18	−51	532,000	−13
Accounts payable and other current and non-current liabilities	−12	−49	21	−24	34
Envato Seller Obligations	0	−63	0	0	—
Contributor royalties payable	12	15	16	8	898,000
Deferred revenue	−18	−22	15	4	23
Net cash provided by operating activities	167	33	141	158	216
Capital expenditures	−43	−47	−45	−43	−28
Business combination, net of cash acquired	0	−179	−54	−212	−182
Cash received related to Giphy Retention Compensation	2	64	54	0	0
Acquisition of content	−7	−4	−11	−17	−9
Security deposit (payment) / release	−40,000	176,000	1	−173,000	−191,000
Net cash used in investing activities	−48	−166	−54	−276	−250
Proceeds from exercise of stock options	0	0	2,000	2	2
Cash paid related to settlement of employee taxes related to RSU vesting	−9	−12	−16	−23	−23
Payment of cash dividends	−47	−42	−39	−35	−31
Proceeds from credit facility	0	280	30	50	0
Repayment of credit facility	−3	−32	−50	0	0
Repurchase of treasury shares	0	−42	−28	−73	−26
Payment of debt issuance costs	0	−2	0	−619,000	0
Net cash (used in) / provided by financing activities	−59	150	−103	−79	−78
Effect of foreign exchange rate changes on cash	7	−6	2	−2	−3
Net increase / (decrease) in cash and cash equivalents	67	11	−15	−199	−115
Cash paid for income taxes	20	34	33	23	19
Cash paid for interest	16	8	2	1	0

Filings

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