Shutterstock, Inc.

SSTK: 10-Q · periodic report

Shutterstock reported a Q2 2026 net loss of $155.9 million (EPS -$4.25) versus net income of $29.4 million a year earlier, driven by a $173.7 million goodwill impairment triggered by Getty Images' termination of their merger agreement, which was formally terminated on July 7, 2026. Revenue fell 17% year-over-year to $221.8 million, with Content down 17% to $165.7 million on weakness in new customer acquisition and Data, Distribution, and Services down 16% to $56.1 million. Subscribers declined to 951,000 from 1,073,000 a year ago. The company paid $35 million in June 2026 to settle an FTC complaint over subscription enrollment and cancellation practices, recording $33 million of settlement expenses in the first half. Cash fell to $133.2 million from $178.2 million at year-end 2025, against $273.3 million of total debt and $18.0 million in H1 operating cash flow. Shutterstock maintained its dividend at $0.72 per share ($26.0 million) in H1 2026 and has $30.2 million left on its buyback authorization; management says liquidity is sufficient for at least 12 months but warned that further stock price or financial performance declines could trigger additional goodwill impairment.

SEC 10-Q•2mo ago

Shutterstock Reports Second Quarter 2026 Financial Results

Shutterstock reported Q2 revenue of $221.8 million, down 17% year-over-year, and swung to a net loss of $155.9 million due to a $173.7 million non-cash goodwill impairment charge linked to a terminated merger. Adjusted EBITDA fell 21% to $65.1 million and adjusted EPS dropped to $0.82 from $1.19, as subscriber counts declined and weakness persisted in new customer acquisition. The company paid a $35 million settlement to the FTC regarding its subscription practices and announced it will not issue full-year guidance or host an earnings conference call while it completes a strategic update.

•2mo ago

Shutterstock Announces Capital Allocation Update

Shutterstock's Board of Directors has resolved to suspend the Company's future quarterly cash dividend to adjust its capital allocation strategy. The move is intended to prioritize deploying capital toward reducing debt, minimizing interest expense, and strengthening overall financial flexibility. Future dividend payments will remain at the discretion of the Board and depend on the company's operational results and financial condition.

•3mo ago

Shutterstock Announces Leadership Transition

Paul Hennessy has stepped down as Chief Executive Officer and as a member of the Board of Directors, effective immediately. The Board appointed Rik Powell, the current CFO, to serve as Interim CEO while a search for a permanent successor is initiated. Hennessy will remain in a non-executive advisory capacity through August 7, 2026, as the Board engages a strategic advisor for go-forward planning.

•3mo ago

SSTK: 8-K · material agreement

Shutterstock, Inc. announced the termination of its Merger Agreement with Getty Images Holdings, Inc. on July 7, 2026. The deal collapsed after Getty Images' board resolved not to proceed with selling Shutterstock's editorial business, a condition imposed by the U.K. Competition and Markets Authority (CMA) for regulatory clearance. Getty Images filed an 8-K on June 30, 2026, stating its decision to terminate the agreement following the passage of the Second Extended End Date on July 6, 2026. The termination was formalized on July 7, 2026, ending the proposed acquisition that was originally announced in January 2025. This outcome is bearish for Shutterstock as it eliminates the strategic benefits of the merger and suggests the company's editorial assets were a regulatory blocker that the acquirer was unwilling to divest. The failure leaves Shutterstock to continue as an independent entity without the anticipated scale or synergies from the Getty Images combination.

SEC 8-K•3mo ago

SSTK: 8-K · material agreement

Getty Images Holdings, Inc. announced that it will not proceed with the sale of Shutterstock’s editorial business, a condition required by the U.K. Competition and Markets Authority (CMA) for merger clearance. Consequently, Getty Images’ Board of Directors resolved to terminate the Merger Agreement following the passage of the Second Extended End Date on July 6, 2026. The termination is effective assuming no material change in circumstances prior to July 7, 2026, effectively ending the proposed acquisition of Shutterstock by Getty Images. Shutterstock CEO Paul Hennessy stated that the company will continue to operate as a standalone entity, emphasizing its strong cash position, modest leverage, and robust free cash flow generation.

SEC 8-K•3mo ago

SSTK: 8-K · regulatory action

Shutterstock, Inc. (SSTK) has reached an agreement in principle to settle a civil complaint filed by the Federal Trade Commission (FTC) regarding its subscription enrollment and cancellation practices. The FTC had previously issued a Civil Investigative Demand in August 2024, alleging violations of Section 5 of the FTC Act and the Restore Online Shoppers’ Confidence Act (ROSCA). Under the terms of the settlement, Shutterstock will pay $35 million to the FTC and implement additional disclosures and changes to its subscription practices. The company intends to pay the full settlement amount from cash on hand during the second quarter of 2026, avoiding further litigation costs and uncertainty.

SEC 8-K•5mo ago

Shutterstock Reports First Quarter 2026 Financial Results

Shutterstock reported Q1 2026 revenue of $199.2 million, an 18% decrease from the prior year, and swung to a net loss of $47.6 million compared to net income of $18.7 million. Adjusted EBITDA fell 33% to $42.7 million, though the company maintained its quarterly dividend of $0.36 per share and generated adjusted free cash flow of $13.1 million. Regarding the pending merger with Getty Images, the UK CMA provisionally concluded the deal would substantially lessen competition in the UK editorial market, suggesting the divestiture of Rex Features, Backgrid, and Splash News as a potential remedy.

•5mo ago