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Jun 30, 2022
Shutterstock Q2 2022 Earnings Report
Reported a 9% increase in revenue to $206.9 million, driven by recent acquisitions and strong growth in the Enterprise channel, despite macro headwinds.
Key Takeaways
Shutterstock's Q2 2022 financial results showed a 9% increase in revenue, reaching $206.9 million. The company experienced growth in both E-commerce and Enterprise sales channels, driven by recent acquisitions and multi-asset product offerings. However, net income decreased by 34% to $19.4 million, and adjusted EBITDA decreased by 8% to $48.9 million.
Revenue increased by 9% to $206.9 million, or 13% on a constant currency basis.
Subscribers increased 15% to 368,000.
Net income decreased 34% to $19.4 million, with net income per diluted share decreasing to $0.53.
Free cash flow decreased 65% to $21.6 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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