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Dec 31, 2023
Shutterstock Q4 2023 Earnings Report
Shutterstock's financial performance remained flat, with revenue decreases in net income and adjusted EBITDA.
Key Takeaways
Shutterstock's Q4 2023 revenue remained flat compared to Q4 2022, with a net loss of $1.0 million and adjusted EBITDA decreasing by 21% to $46.3 million. The decrease in net income was unfavorably impacted by expenses associated with reimbursable costs paid to the Giphy workforce in addition to increased marketing expenses, while the decrease in adjusted EBITDA was primarily due to higher operating expenses associated with the acquisition of Giphy.
Revenue decreased $0.5 million to $217.2 million.
Net loss was $1.0 million, a decrease of 114%.
Adjusted EBITDA decreased 21% to $46.3 million.
Content revenue decreased 10% to $177.5 million, while Data, Distribution, and Services revenue increased 96.4% to $39.7 million.
Revenue by Segment
Forward Guidance
The Company increased its guidance for the full year 2024, to the following: •Revenue of $875 million and Adjusted EBITDA of $241 million. unchanged from 2023. •Adjusted net income per diluted share of between $4.15 to $4.30.
Positive Outlook
- Revenue of $875 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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