Shutterstock SSTK
Shutterstock reported a $197.75 million net loss for Q3 2026.
- Form
- 10-Q
- Filed
- Importance
- Notable
- Accession
- 0001549346-26-000034
- Revenue of $173.9 million for the three months ended Sep 30, 2026.
- Net loss of $197.75 million for the three months ended Sep 30, 2026.
- Diluted EPS of -$5.35 for the three months ended Sep 30, 2026.
- Cash and equivalents of $110.47 million as of Sep 30, 2026.
Written from the 10-Q on EDGAR. AI can make mistakes. Check the filing.
What changed
6 changes since the June 2026 10-Q
Compared with the 10-Q 0001549346-26-000029, filed Aug 7, 2026.
Net income down 27% from Jun 30
−$198M, was −$156M.
From the filings
Before
−$156MNow
−$198MEPS down 26% from Jun 30
−$5.35, was −$4.25.
From the filings
Before
−$4.25Now
−$5.35Revenue down 22% from Jun 30
$174M, was $222M.
From the filings
Before
$222MNow
$174MCash down 17% from Jun 30
$110M, was $133M.
From the filings
Before
$133MNow
$110MGoodwill Impairment.
Adds "and the suspension of dividends announced on July 22, 2026"; drops "As of June 30, 2026,".
From the filings
Before
Goodwill Impairment. As of June 30, 2026, management determined that Getty Image's June 30, 2026 announcement to terminate the Merger Agreement resulted in a triggering event and required the performance of a quantitative goodwill impairment test. The analysis resulted in a goodwill impairment charge of $173.7 million.Now
Goodwill Impairment. Management determined that Getty Image's June 30, 2026 announcement to terminate the Merger Agreement and the suspension of dividends announced on July 22, 2026 resulted in triggering events requiring the performance of quantitative goodwill impairme nt tests in the second and third quarters of 2026, respectively. The impairment tests resulted in goodwill impairment charges of $377.1 million.During the third quarter of 2026, the Company repaid $30.0 million of outstanding principal on the Revolver.
Adds "During the third quarter of 2026, the Company repaid $30.0 million of outstanding…"; drops "June".
From the filings
Before
As of June 30, 2026, we had a remaining borrowing capacity of $94 million, net of standby letters of credit.Now
During the third quarter of 2026, the Company repaid $30.0 million of outstanding principal on the Revolver. The repayment was funded using cash generated from operations. As of September 30, 2026, we had a remaining borrowing capacity of $123.7 million, net of standby letters of credit.
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Section by section. Added words and removed words against the earlier filing.
Cover page 3 changes
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For the quarterly period ended June September 30, 2026
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As of July 31, October 30, 2026, 36,947,684 37,086,271 shares of the registrant's common stock, $0.01 par value per share, were outstanding.
For the Quarterly Period Ended June September 30, 2026
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Financial statements 173 changes
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Goodwill 400,025 574,614
Other assets 73,986 93,398
Cash and cash equivalents $ 133,208 110,472 $ 178,244
Accounts receivable, net of allowance of $ 3,750 4,073 and $ 3,431
Prepaid expenses and other current assets 44,025 45,852 47,769
Total current assets 279,497 256,822 338,639
Property and equipment, net 61,237 61,213 62,553
Right-of-use assets 8,238 6,564 9,770
Intangible assets, net 192,073 180,931 215,673
Goodwill 196,877 574,614
Deferred tax assets, net 77,221 79,393 61,289
Other assets 71,723 93,398
Total assets $ 1,092,277 853,523 $ 1,355,936
2 unchanged paragraphs
Accounts payable $ 12,982 $ 13,898
Accrued expenses 104,227 129,952
Deferred revenue 198,444 212,984
Debt 158,112 158,110
Lease liabilities 13,518 17,247
Total liabilities 728,617 774,898
Accounts payable $ 13,477 $ 13,898
Accrued expenses 102,559 129,952
Contributor royalties payable 98,292 94,041 94,163
Deferred revenue 189,737 212,984
Debt 128,113 158,110
Other current liabilities 14,719 15,242 19,295
Total current liabilities 586,776 543,169 628,402
Deferred tax liability, net 1,323 636 1,134
Long-term debt 115,157 114,416 116,639
Lease liabilities 11,123 17,247
Other non-current liabilities 11,843 12,645 11,476
Total liabilities 681,989 774,898
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Retained earnings 105,664 335,168
Common stock, $ 0.01 par value; 200,000 shares authorized; 42,328 42,598 and 41,049 shares issued and 36,807 37,077 and 35,528 shares outstanding as of June September 30, 2026 and December 31, 2025, respectively
Treasury stock, at cost; 5,521 shares as of June September 30, 2026 and December 31, 2025 ( 269,804 ) ( 269,804 )
Additional paid-in capital 536,627 543,095 520,018
Accumulated other comprehensive loss ( 9,249 10,091 ) ( 4,754 )
Retained earnings ( 92,090 ) 335,168
Total stockholders' equity 363,660 171,534 581,038
Total liabilities and stockholders' equity $ 1,092,277 853,523 $ 1,355,936
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Revenue $ 221,801 $ 266,990 $ 420,971 $ 509,610
Cost of revenue 93,787 105,994 188,575 206,882
Sales and marketing 48,008 57,077 96,354 110,436
Product development 17,574 20,754 36,979 40,619
General and administrative 43,930 48,434 111,515 106,741
Goodwill impairment 173,738 — 173,738 —
Total operating expenses 377,037 232,259 607,161 464,678
(Loss) / income from operations ( 155,236 ) 34,731 ( 186,190 ) 44,932
Interest expense ( 3,833 ) ( 4,224 ) ( 7,593 ) ( 8,522 )
Other (expense) / income, net ( 1,862 ) 12,624 ( 16,523 ) 27,139 (Loss) / income before income taxes ( 160,931 ) 43,131 ( 210,306 ) 63,549 (Benefit) / provision for income taxes ( 4,992 ) 13,691 ( 6,798 ) 15,421
Net (loss) / income $ ( 155,939 ) $ 29,440 $ ( 203,508 ) $ 48,128 (Losses) / Earnings per share:
Basic $ ( 4.25 ) $ 0.84 $ ( 5.63 ) $ 1.37
Diluted $ ( 4.25 ) $ 0.82 $ ( 5.63 ) $ 1.35
Revenue $ 173,898 $ 260,094 $ 594,869 $ 769,704
Cost of revenue 83,713 102,558 272,288 309,440
Sales and marketing 43,941 59,358 140,295 169,794
Product development 14,228 22,374 51,207 62,993
General and administrative 27,741 43,313 139,256 150,054
Goodwill impairment 203,323 — 377,061 —
Total operating expenses 372,946 227,603 980,107 692,281
(Loss) / income from operations ( 199,048 ) 32,491 ( 385,238 ) 77,423
Interest expense ( 3,567 ) ( 4,226 ) ( 11,160 ) ( 12,748 )
Other income / (expense), net 2,097 3,138 ( 14,426 ) 30,277
(Loss) / income before income taxes ( 200,518 ) 31,403 ( 410,824 ) 94,952
Provision / (benefit) for income taxes ( 2,766 ) 18,016 ( 9,565 ) 33,437
Net (loss) / income $ ( 197,752 ) $ 13,387 $ ( 401,259 ) $ 61,515 (Losses) / Earnings per share:
Basic $ ( 5.35 ) $ 0.38 $ ( 11.02 ) $ 1.75
Diluted $ ( 5.35 ) $ 0.37 $ ( 11.02 ) $ 1.71
1 unchanged paragraph
Basic 36,703 35,257 36,126 35,075
Diluted 36,703 35,958 36,126 35,642
Basic 36,978 35,484 36,413 35,213
Diluted 36,978 36,642 36,413 35,979
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Net (loss) / income $ ( 155,939 ) $ 29,440 $ ( 203,508 ) $ 48,128
Foreign currency translation (loss) / gain ( 2,900 ) 10,015 ( 4,495 ) 14,312
Other comprehensive (loss) / income ( 2,900 ) 10,015 ( 4,495 ) 14,312
Comprehensive (loss) / income $ ( 158,839 ) $ 39,455 $ ( 208,003 ) $ 62,440
Net (loss) / income $ ( 197,752 ) $ 13,387 $ ( 401,259 ) $ 61,515
Foreign currency translation (loss) / gain ( 842 ) ( 2,360 ) ( 5,337 ) 11,952
Other comprehensive (loss) / income ( 842 ) ( 2,360 ) ( 5,337 ) 11,952
Comprehensive (loss) / income $ ( 198,594 ) $ 11,027 $ ( 406,596 ) $ 73,467
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Balance at March 31, 2026 41,076 $ 410 5,521 $ ( 269,804 ) $ 533,004 $ ( 6,349 ) $ 274,817 $ 532,078
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and 93 more changes in the filing
Notes to the financial statements 5 changes
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For certain Data, Distribution, and Services transactions, the Company has $ 56.1 51.0 million of unbilled receivables of which $ 36.8 33.8 million are recorded in Accounts Receivable and $ 19.3 17.2 million are recorded in Other Assets, as of June September 30, 2026.
During the six nine months ended June September 30, 2026, the Company recorded bad debt expense of $ 0.3 0.7 million . As of June September 30, 2026 and December 31, 2025, the Company's allowance for doubtful accounts was approximately $ 3.8 4.1 million and $ 3.4 million, respectively. The allowance for doubtful accounts is included as a reduction of accounts receivable on the Consolidated Balance Sheets.
The Company has certain customer arrangements that contain financing elements. Interest income earned from these financing receivables is recorded on the effective interest method and is included within interest income on the Consolidated Statements of Operations. As of June September 30, 2026 and December 31, 2025, approximately $ 5.6 5.8 million and $ 9.8 million of financing receivables, respectively, were included in accounts receivable and other assets on the Consolidated Balance Sheets.
In addition, as of June September 30, 2026, two customers accounted for approximately 16 14 % and 12 %, respectively, of the accounts receivable balance. As of December 31, 2025, one customer accounted for approximately 15 % of the accounts receivable balance.
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The Company establishes a chargeback allowance and sales refund reserve allowance based on factors surrounding historical credit card chargeback trends, historical sales refund trends and other information. As of June September 30, 2026 and December 31, 2025, the Company's combined allowance for chargebacks and sales refunds was $ 0.2 0.1 million and a nd $ 0.2 million, respectively, which was included as a component of other current liabilities on the Consolidated Balance Sheets.
3 unchanged paragraphs
MD&A 289 changes
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Terminated Merger Agreement with Getty Images
1 unchanged paragraph
On June 30, 2026, Getty Images filed an 8-K announcing that its Board of Directors unanimously resolved to terminate the Merger Agreement. The Merger Agreement was terminated on July 7, 2026.
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• Generative AI Content - consisting of images generated from algorithms trained with high-quality, ethically sourced licensable content. Customers can generate images by entering a description of their desired content into model prompts.
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We have seen increased demand for access to our metadata for machine learning and generative artificial intelligence model training. We offer ethically sourced and licenseable licensable metadata at industry leading scales and quality. Our metadata customer base ranges from large technology and media companies to smaller start-up organizations.
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Subscribers, subscriber revenue and average revenue per customer from acquisitions are included in these metrics beginning twelve months after the closing of the respective business combination. Accordingly, the metrics include Subscribers, Subscriber revenue, and Average revenue per customer from Backgrid beginning February 2025. The 2025 metrics include the counts and revenues from Envato for the three and six nine months ended June September 30, 2025, which was acquired in July 22, 2024.
5 unchanged paragraphs
June 30, Six Months Ended
The following tables summarize our key operating metrics, which are unaudited, for the three and six nine months ended June September 30, 2026 and 2025:
September 30, Nine Months Ended
3 unchanged paragraphs
Paid downloads (in millions) 98.7 112.6 202.8 233.5
Paid downloads (in millions) 90.9 111.7 293.7 345.2
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Data, Distribution, and Services: Our Data, Distribution, and Services offering addresses customer demand for products and services that are beyond our stock image, footage music and 3D model licenses. We have seen increased demand for access to our metadata for machine learning and generative artificial intelligence model training. We offer ethically sourced and licenseable licensable metadata at unique scales and quality. Our metadata customer base ranges from large technology and media companies to smaller start-up organizations.
1 unchanged paragraph
June 30, Six Months Ended
Content $ 165,664 $ 199,796 $ 343,790 $ 402,684
Data, Distribution, and Services 56,137 67,194 77,181 106,926
Total Revenues $ 221,801 $ 266,990 $ 420,971 $ 509,610
The Company's revenues by distribution channel product offering for the three and six nine months ended June September 30, 2026 and 2025 are as follows (in thousands):
September 30, Nine Months Ended
Content $ 158,075 $ 194,426 $ 501,864 $ 597,110
Data, Distribution, and Services 15,823 65,668 93,005 172,594
Total Revenues $ 173,898 $ 260,094 $ 594,869 $ 769,704
9 unchanged paragraphs
Three Months Ended June 30, Six Months Ended June 30,
Three Months Ended September 30, Nine Months Ended September 30, (in thousands)
1 unchanged paragraph
Revenue $ 221,801 $ 266,990 $ 420,971 $ 509,610
Cost of revenue 93,787 105,994 188,575 206,882
Sales and marketing 48,008 57,077 96,354 110,436
Product development 17,574 20,754 36,979 40,619
General and administrative 43,930 48,434 111,515 106,741
Goodwill impairment 173,738 — 173,738 —
Total operating expenses 377,037 232,259 607,161 464,678
(Loss) / income from operations (155,236) 34,731 (186,190) 44,932
Interest expense (3,833) (4,224) (7,593) (8,522)
Other (expense) / income, net (1,862) 12,624 (16,523) 27,139 (Loss) / income before income taxes (160,931) 43,131 (210,306) 63,549 (Benefit) / provision for income taxes (4,992) 13,691 (6,798) 15,421
Net (loss) / income $ (155,939) $ 29,440 $ (203,508) $ 48,128
Revenue $ 173,898 $ 260,094 $ 594,869 $ 769,704
Cost of revenue 83,713 102,558 272,288 309,440
Sales and marketing 43,941 59,358 140,295 169,794
Product development 14,228 22,374 51,207 62,993
General and administrative 27,741 43,313 139,256 150,054
Goodwill impairment 203,323 — 377,061 —
Total operating expenses 372,946 227,603 980,107 692,281
(Loss) / income from operations (199,048) 32,491 (385,238) 77,423
Interest expense (3,567) (4,226) (11,160) (12,748)
Other (expense) / income, net 2,097 3,138 (14,426) 30,277
(Loss) / income before income taxes (200,518) 31,403 (410,824) 94,952
Provision / (benefit) for income taxes (2,766) 18,016 (9,565) 33,437
Net (loss) / income $ (197,752) $ 13,387 $ (401,259) $ 61,515
1 unchanged paragraph
Three Months Ended June 30, Six Months Ended June 30,
Three Months Ended September 30, Nine Months Ended September 30,
2 unchanged paragraphs
Cost of revenue 42 % 40 % 45 % 41 %
Sales and marketing 22 % 21 % 23 % 22 %
General and administrative 21 % 18 % 26 % 21 %
Goodwill impairment 78 % — % 41 % — %
Total operating expenses 170 % 87 % 144 % 91 %
(Loss) / income from operations (70) % 13 % (44) % 9 %
Cost of revenue 48 % 39 % 46 % 40 %
Sales and marketing 25 % 23 % 24 % 22 %
Product development 8 % 8 9 % 9 % 8 %
General and administrative 16 % 17 % 23 % 19 %
Goodwill impairment 117 % — % 63 % — %
Total operating expenses 214 % 88 % 165 % 90 %
(Loss) / income from operations (114) % 12 % (65) % 10 %
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(Benefit) / (provision) for income taxes (2) % 5 % (2) % 3 %
Net (loss) / income (70) % 11 % (48) % 9 %
Other (expense) / income, net 1 % 5 1 % (4) (2) % 5 4 %
(Loss) / Income before income taxes (73) (115) % 16 12 % (50) (69) % 12 %
Provision / (benefit) for income taxes
Net (loss) / income (114) % 5 % (67) % 8 %
1 unchanged paragraph
Comparison of the Three Months Ended June September 30, 2026 and 2025
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Three Months Ended June September 30,
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Revenue $ 221,801 $ 266,990 $ (45,189) (17) %
Cost of revenue 93,787 105,994 (12,207) (12)
Sales and marketing 48,008 57,077 (9,069) (16)
Product development 17,574 20,754 (3,180) (15)
General and administrative 43,930 48,434 (4,504) (9)
Goodwill impairment 173,738 — 173,738 —
Total operating expenses 377,037 232,259 144,778 62
(Loss) / income from operations (155,236) 34,731 (189,967) (547)
Interest expense (3,833) (4,224) 391 (9)
Other (expense) / income, net (1,862) 12,624 (14,486) (115)
(Loss) / Income before income taxes (160,931) 43,131 (204,062) (473)
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and 209 more changes in the filing
Market risk 14 changes
2 unchanged paragraphs
Our sales to international customers are denominated in multiple currencies, including but not limited to the U.S. dollar, the euro, the British pound, the Australian dollar and the Japanese yen. Revenue denominated in foreign currencies as a percentage of total revenue was approximately 29% and 26% an d 24% for the six nine months ended June September 30, 2026 and 2025, respectively. Changes in exchange rates will affect our revenue and certain operating expenses to the extent that our revenue is generated and expenses are incurred in currencies other than the U.S. dollar. Royalties earned by and paid to contributors are denominated in the U.S. dollar and will not be affected by changes in exchange rates. Based on our foreign currency denominated revenue for the six nine months ended June September 30, 2026, we estimate that a 10% change in the exchange rate of the U.S. dollar against all foreign currency denominated revenues would result in an approximately 3% impact on our revenue.
2 unchanged paragraphs
Three Months Ended June 30, Six Months Ended June 30,
Three Months Ended September 30, Nine Months Ended September 30,
1 unchanged paragraph
Euro $ 37,234 € 32,096 $ 38,381 € 34,717 $ 72,064 € 62,360 $ 76,497 € 70,569
British pounds 11,890 £ 8,857 13,762 £ 10,346 27,206 £ 20,252 28,465 £ 22,025
Euro $ 29,261 € 25,267 $ 31,388 € 27,597 $ 101,325 € 87,627 $ 107,885 € 98,166
British pounds 12,057 £ 8,999 13,794 £ 10,202 39,263 £ 29,251 42,259 £ 32,227
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Total foreign currency 59,901 64,868 121,310 130,376
U.S. dollar 161,900 202,122 299,661 379,234
Total revenue $ 221,801 $ 266,990 $ 420,971 $ 509,610
Total foreign currency 51,029 57,447 172,339 187,823
U.S. dollar 122,869 202,647 422,530 581,881
Total revenue $ 173,898 $ 260,094 $ 594,869 $ 769,704
3 unchanged paragraphs
Amounts borrowed under the A&R Credit Agreement accrue interest at a per annum rate based on either (i) the base rate plus a margin ranging from 0.375% to 0.750%, determined based on the Company's consolidated net leverage ratio or (ii) the Term SOFR rate (for interest periods of 1, 3 or 6 months) plus a margin ranging from 1.375% to 1.750%, determined based on the Company's consolidated net leverage ratio, plus a credit spread adjustment of 0.100%. A hypothetical 10% change in interest rates would not have a material impact on our interest expense as of June September 30, 2026.
1 unchanged paragraph
Controls and procedures 2 changes
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Our management, with the participation of our Interim Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures as of June September 30, 2026. The term "disclosure controls and procedures," as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), means controls and other procedures of a company that are designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure. However, any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objective.
Based on the evaluation of our disclosure controls and procedures as of June September 30, 2026, our Interim Chief Executive Officer and Chief Financial Officer concluded that, as of such date, our disclosure controls and procedures were effective at the reasonable assurance level.
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Risk factors 1 change
We operate in a rapidly changing environment that involves a number of risks that could materially affect our business, financial condition or future results, some of which are beyond our control. In addition to the other information set forth in this Quarterly Report on Form 10-Q, you should carefully consider the factors discussed in Part I, "Item 1A. Risk Factors" in our 2025 Form 10-K, which could materially affect our business, financial condition or future results. During the three months ended June September 30, 2026, there were no material changes to these risk factors as described in our 2025 Form 10-K.
Other information 4 changes
(a) On July 16, 2026, Steven Ciardiello notified the Company of his decision to resign as Chief Accounting Officer of the Company, effective August 28, 2026 following a transition period. On November 2, 2026, the Company appointed Rik Powell, the Company's former Interim Chief Executive Officer and Chief Financial Officer, to serve as the Company's Principal Accounting Officer.
Mr. Powell, age 54, served as the Company's Chief Financial Officer from November 2024 to November 2026 and served as the Company's Interim Chief Executive Officer from July 2026 to October 2026. From June 2024 to October 2024, Mr. Powell served as the Company's Senior Vice President, Finance and Investor Relations. Prior to joining the Company, Mr. Powell was Senior Vice President, Finance and Investor Relations at Shake Shack, an NYSE publicly traded quick services restaurant group, from 2022 to 2024. Prior to that, Mr. Powell served in various finance positions at Getty Images, a visual media company, where he ultimately advanced to the position of Chief Financial Officer from 2017 to 2020. Prior to that, Mr. Powell held various finance roles at Dell Computer Corporation and HP Inc. and started his career at Grant Thornton LLP. Mr. Powell is from Oxford in the United Kingdom and has been a Fellow of the UK Chartered Association of Certified Accountants for a number of years.
There are no arrangements or understandings between Mr. Powell and any other person pursuant to which he was appointed to serve as the Principal Accounting Officer. Mr. Powell has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K, and Mr. Powell has no family relationships with any director or executive officer of the Company.
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During the quarter ended June September 30, 2026, none of our directors or officers (as defined in Section 16 of the Securities Exchange Act of 1934, as amended), adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement" (each as defined in Item 408(a) and (c), respectively, of Regulation S-K).
Exhibits 14 changes
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10.1§ Employment Letter for Rik Powell as Interim Chief Executive Officer (incorporated by reference to Exhibit 10.1 to Form 8-K filed on July 13, 2026 (File No. 001-35669))
10.2§ Employment Acknowledgement Agreement, by and between the Company and Jonathan Oringer, dated October 28, 2026 (incorporated by reference to Exhibit 10.1 to Form 8-K filed on October 29, 2026 (File No. 001-35669))
10.3§ Executive Contract, by and between Envato Pty Ltd. and Hichame Assi, dated October 29, 2026 (incorporated by reference to Exhibit 10.2 to Form 8-K filed on October 29, 2026 (File No. 001-35669))
31.1# Certification of the Interim Chief Executive Officer pursuant to Exchange Act Rules 13a-14(a) and Chief Financial Officer of Shutterstock Inc., 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1# 31.2# Certification of the Interim Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 906 302 of the Sarbanes-Oxley Act of 2002
32.1# Certification of the Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
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§ Management contract or compensatory plan or arrangement.
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Dated: August 7, 2026 By: /s/ Rik Powell
Interim Chief Executive Officer and Chief Financial Officer
Dated: November 5, 2026 By: /s/ Scott Grossman
Chief Financial Officer
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Dated: August 7, 2026 By: /s/ Steven Ciardiello
Dated: November 5, 2026 By: /s/ Rik Powell
Chief Principal Accounting Officer
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Unchanged: Financial Statements (Unaudited), Forward-looking statements, Legal proceedings, Unregistered sales of stock, Mine Safety Disclosures
Compared by code from the two filings' text and XBRL. Not advice.
The reading, claim by claim
- All statements other than statements of historical fact are forward-looking.
- See Notes to Unaudited Consolidated Financial Statements.
- For the quarter ended September 30, 2026, Shutterstock, Inc. reported: Revenue $173.9 million.
- Net income -$197.8 million.
4 of 6 claims matched the filing text.
Not found in the filing text
- See Notes to Unaudited Consolidated Financial Statements.
- See Notes to Unaudited Consolidated Financial Statements.
From the filing's financial data, not stated in its text
From this 10-Q's financial data (XBRL) for the quarter ended September 30, 2026
- Gross margin 51.9%.
- Operating margin -114.5%.
- Net margin -113.7%.
- Revenue change from a year earlier -33.1%.
From the filing
Item 6.
Item 6.
Exhibits
42
Signatures
44
2
Table of Contents
FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, particularly in the discussion under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations." All statements other than statements of historical fact are forward-looking.1 Examples of forward-looking statements include, but are not limited to, statements regarding our guidance, industry prospects, future business, future results of operations or financial condition, future stock performance, our ability to consummate acquisitions and integrate the businesses we have acquired or may acquire into our existing operations, new or planned features, products or services, management strategies and our competitive position. You can identify many forward-looking statements by words such as "may," "will," "would," "should," "could," "expects," "aims," "anticipates," "believes," "estimates," "intends," "plans," "predicts," "projects," "seeks," "potential," "opportunities" and other similar expressions and the negatives of such expressions. However, not all forward-looking statements contain these words. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, risks related to our ability to continue to attract and retain customers of, and contributors to, our creative platform; competition in our industry; the effectiveness and efficiency of our marketing efforts; our ability to innovate technologically or develop, market and offer new products and services, or enhance existing technology and products and services; costs related to litigation or infringement claims, indemnification claims and the inability to prevent misuse of our content; our ability to increase market awareness of our brand and our existing and new products and services; pricing pressure, and increased service, indemnification and working capital requirements; expansion of our operations into new products, services and technologies; the impact of worldwide economic, political and social conditions; issues relating to the use of new and evolving technologies, such as AI; our ability to grow our revenues at historical rates; our ability to effectively expand, train, manage changes to and retain our sales force; our ability to effectively manage our growth; our ability to successfully make, integrate and maintain acquisitions and investments, risks related to our personnel; risks related to our use of independent contractors; the non-payment or late payment of amounts due to us and other payment-related risks; the potential impairment of our goodwill or intangible assets; the need to raise additional capital; risks related to our debt; our reliance on information technologies and systems and other risks related to our intellectual property and security vulnerabilities; our international operations and our continued expansion internationally; foreign exchange risk; risks related to regulatory and tax challenges; as well as those risks discussed under the caption "Risk Factors" in our most recently filed Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission (the "SEC") on February 17, 2026 (our "2025 Form 10-K") and in our consolidated financial statements, related notes, and the other information appearing elsewhere in the 2025 Form 10-K, this Quarterly Report on Form 10-Q and our other filings with the SEC. Given these risks and uncertainties, you should not place undue reliance on any forward-looking statements. The forward-looking statements contained in this Quarterly Report on Form 10-Q are made only as of the date hereof, and we do not intend, and, except as required by law, we undertake no obligation to update any forward-looking statements contained herein after the date of this report to reflect actual results or future events or circumstances.
Unless the context otherwise indicates, references in this Quarterly Report on Form 10-Q to the terms "Shutterstock," "the Company," "we," "our" and "us" refer to Shutterstock, Inc. and its subsidiaries. "Shutterstock," "Shutterstock Editorial," "Asset Assurance," "Offset," "Bigstock," "Rex Features," "PremiumBeat," "TurboSquid," "PicMonkey," "Pattern89," "Shotzr," "Pond5," "Splash News," "Giphy," "Shutterstock Studios," "Shutterstock Editor," "Shutterstock.AI," "Creative Flow," "Backgrid," "Envato," "Envato Elements," "Photodune," "Tuts+," "Themeforest," "Codecanyon," "Audiojungle," "Graphicriver," "Videohive," "3DOcean," "Mixkit," and "Placeit" and their logos are registered trademarks and are the property of Shutterstock, Inc. or one of our subsidiaries. All other trademarks, service marks and trade names appearing in this Quarterly Report on Form 10-Q are the property of their respective owners.
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PART I. FINANCIAL INFORMATION
Item 1. Financial Statements.
Item 1. Financial Statements.
Shutterstock, Inc.
Consolidated Balance Sheets
(In thousands, except par value amount) (unaudited)
September 30,
December 31,
2026
2025
ASSETS
Current assets:
Cash and cash equivalents $ 110,472 $ 178,244
Accounts receivable, net of allowance of $ 4,073 and $ 3,431
100,498 112,626
Prepaid expenses and other current assets 45,852 47,769
LIABILITIES AND STOCKHOLDERS ' EQUITY
Current liabilities:
Commitments and contingencies (Note 15)
Stockholders' equity:
Total liabilities and stockholders' equity $ 853,523 $ 1,355,936
See Notes to Unaudited Consolidated Financial Statements.2
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Shutterstock, Inc.
Consolidated Statements of Operations
(In thousands, except for per share data) (unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2026
2025
2026
2025
See Notes to Unaudited Consolidated Financial Statements.
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Shutterstock, Inc.
Consolidated Statements of Comprehensive Income
(In thousands) (unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2026
2025
2026
2025
See Notes to Unaudited Consolidated Financial Statements.
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Shutterstock, Inc.
Consolidated Statements of Stockholders' Equity
(In thousands) (unaudited)
Additional
Paid-in
Capital Accumulated
Other
Comprehensive
(Loss) / Income Retained
Earnings
Common Stock Treasury Stock
Three Months Ended September 30, 2026 Shares Amount Shares Amount Total
Balance at Dec
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