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Sep 30, 2024
Shutterstock Q3 2024 Earnings Report
Shutterstock achieved record revenues and Adjusted EBITDA, and increased guidance for 2024.
Key Takeaways
Shutterstock reported record revenue of $250.6 million and adjusted EBITDA, exceeding expectations, driven by the Envato acquisition and growth in Content and Data, Distribution, and Services.
Revenues were $250.6 million, an increase of 7% compared to Q3 2023.
Net income was $17.6 million, compared to $28.4 million in Q3 2023.
Adjusted EBITDA was $70.0 million, an increase of 8% compared to Q3 2023.
The company completed the acquisition of Envato Pty Ltd. on July 22, 2024, for $250 million.
Revenue by Segment
Forward Guidance
The Company is updating its guidance as follows:
Positive Outlook
- Revenue guidance of $935 million to $940 million, representing growth of 7% to 7.5% year-over-year.
- Adjusted net income per diluted share of between $4.22 to $4.31.
- Adjusted EBITDA of $247 million to $250 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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