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Mar 31, 2022
Shutterstock Q1 2022 Earnings Report
Shutterstock's first quarter results in 2022 showed revenue growth, driven by the Enterprise channel and acquisitions, but experienced decreases in income from operations and net income.
Key Takeaways
Shutterstock's Q1 2022 results showed a 9% increase in revenue to $199.1 million, driven by strong performance in the Enterprise channel and contributions from recent acquisitions. However, the company experienced a decrease in income from operations by 16% to $31.9 million and a decrease in net income by 10% to $26.6 million.
Revenue increased by 9% to $199.1 million, or 11% on a constant currency basis.
Subscribers increased 17% to 359,000.
Net income decreased 10% to $26.6 million.
Free cash flow decreased 62% to $10.2 million.
Forward Guidance
The Company’s current expectations for the full year 2022, remain unchanged as follows:
Positive Outlook
- Revenue of $835 million to $850 million, representing annual growth of 8% - 10%.
- Adjusted EBITDA of between $210 million to $217 million.
- Adjusted net income per diluted share of between $3.65 to $3.80.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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