Loading...
•
Jun 30, 2021
Shutterstock Q2 2021 Earnings Report
Revenue growth accelerated, driven by robust demand across revenue channels and successful execution in the enterprise revenue channel, enhanced by strategic acquisitions in AI.
Key Takeaways
Shutterstock reported a strong second quarter in 2021, with revenue increasing by 19% to $189.9 million and net income increasing by 55% to $29.5 million. The company's performance was driven by robust demand across revenue channels, content types, and product offerings.
Revenue increased 19% to $189.9 million, or 16% on a constant currency basis.
Net income increased 55% to $29.5 million, with diluted EPS increasing 49% to $0.79 per share.
Adjusted EBITDA increased 43% to $53.1 million, reflecting margin expansion initiatives.
Subscriber base grew by 44% to 321,000, driving a 25% increase in subscriber revenue to $78.1 million.
Forward Guidance
The Company’s revised expectations for the full year 2021 are as follows: •Revenue of $740 million to $750 million, representing annual growth of 11% to 12.5%, an increase from the previous guidance of $720 million to $730 million. •Adjusted EBITDA of between $175 million to $180 million, an increase from the previous guidance of $171 million to $177 million. •Adjusted net income per diluted share of between $2.80 to $2.95, an increase from the previous guidance of $2.78 to $2.93 per diluted share.
Positive Outlook
- Revenue of $740 million to $750 million
- Annual growth of 11% to 12.5%
- Adjusted EBITDA of between $175 million to $180 million
- Adjusted net income per diluted share of between $2.80 to $2.95
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...