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Shutterstock, Inc. provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage. It also provides 3 dimensional models consisting of 3D models used in various industries, such as advertising, media and video production, gaming, retail, education, design, and architecture; and generative AI content comprising images generated from algorithms trained with ethically sourced content. In addition, the company operates a collection of graphics interchange format visuals and stickers that supplies casual conversational content. It offers its services under the Shutterstock, Envato, Pond5, TurboSquid, PicMonkey, PremiumBeat, Splash News, and Bigstock brand names. The company serves corporate professionals and organizations, media and broadcast companies, and small and medium-sized businesses, and individual creators through digital, live sales, services, and client management channels. Shutterstock, Inc. was founded in 2003 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $990M | $183M | $45M | $117M | 7.8% | 5.8% | 26.6% |
| 2024 | $935M | $161M | $36M | $-19M | 6.9% | 6.9% | -67.4% |
| 2023 | $875M | $204M | $110M | $85M | 20.9% | 5.6% | 44.9% |
| 2022 | $828M | $161M | $76M | $98M | 17.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 827.83 | 874.59 | 935.26 | 989.92 |
| Operating Revenue | - | 827.83 | 874.59 | 935.26 | 989.92 |
| Cost Of Revenue | - | 314.31 | 352.63 | 396.30 | 406.85 |
| Gross Profit | - | 513.52 | 521.96 | 538.96 | 583.08 |
| Operating Expense | - | 401.23 | 453.56 | 470.26 | 508.02 |
| Research And Development | - | 65.43 | 96.16 | 88.42 | 89.03 |
| Selling General And Administration | - | 330.46 | 352.49 | 375.02 | 411.68 |
| Total Expenses | - | 715.54 | 806.19 | 866.55 | 914.87 |
| Operating Income | - | 112.29 | 68.40 | 68.71 | 75.06 |
| Total Operating Income As Reported | - | 93.62 | 68.40 | 68.71 | 75.06 |
| EBITDA | - | 160.84 | 204.05 | 160.74 | 183.05 |
| Normalized EBITDA | - | 180.84 | 152.91 | 162.57 | 190.51 |
| EBIT | - | 92.37 | 124.32 | 73.11 | 92.16 |
| Interest Income | - | 0.09 | 4.78 | 6.23 | 24.56 |
| Interest Expense | - | 1.34 | 1.86 | 10.56 | 16.83 |
| Net Interest Income | - | -1.25 | 2.93 | -4.33 | 7.74 |
| Other Non Operating Income Expenses | -0.20 | 0.09 | - | - | - |
| Other Income Expense | - | -20 | 51.14 | -1.83 | -7.46 |
| Interest Income Non Operating | - | 0.09 | 4.78 | 6.23 | 24.56 |
| Interest Expense Non Operating | - | 1.34 | 1.86 | 10.56 | 16.83 |
| Net Non Operating Interest Income Expense | - | -1.25 | 2.93 | -4.33 | 7.74 |
| Pretax Income | - | 91.04 | 122.47 | 62.55 | 75.33 |
| Tax Provision | - | 14.93 | 12.20 | 26.62 | 29.84 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -3.28 | 5.11 | -0.38 | -2.96 |
| Net Income Continuous Operations | - | 76.10 | 110.27 | 35.93 | 45.50 |
| Net Income From Continuing And Discontinued Operation | - | 76.10 | 110.27 | 35.93 | 45.50 |
| Net Income From Continuing Operation Net Minority Interest | - | 76.10 | 110.27 | 35.93 | 45.50 |
| Net Income | - | 76.10 | 110.27 | 35.93 | 45.50 |
| Net Income Common Stockholders | - | 76.10 | 110.27 | 35.93 | 45.50 |
| Net Income Including Noncontrolling Interests | - | 76.10 | 110.27 | 35.93 | 45.50 |
| Normalized Income | - | 92.82 | 64.24 | 37.38 | 50 |
| Diluted NI Availto Com Stockholders | - | 76.10 | 110.27 | 35.93 | 45.50 |
| Basic Average Shares | - | 36.04 | 35.88 | 35.33 | 35.29 |
| Diluted Average Shares | - | 36.55 | 36.24 | 35.66 | 36.27 |
| Reconciled Depreciation | - | 68.47 | 79.73 | 87.63 | 90.89 |
| Reconciled Cost Of Revenue | - | 251.18 | 277.81 | 315.49 | 323.26 |
| Total Unusual Items | - | -20 | 51.14 | -1.83 | -7.46 |
| Total Unusual Items Excluding Goodwill | - | -20 | 51.14 | -1.83 | -7.46 |
| Special Income Charges | - | -18.66 | 50.26 | 0 | -5 |
| Write Off | - | - | 0 | 0 | 5 |
| Impairment Of Capital Assets | 0 | 18.66 | 0 | 0 | - |
| Restructuring And Mergern Acquisition | - | 0 | -50.26 | 0 | 0 |
| Gain On Sale Of Security | - | -1.34 | 0.88 | -1.83 | -2.46 |
| Depreciation Amortization Depletion Income Statement | - | 5.34 | 4.90 | 6.82 | 7.31 |
| Depreciation And Amortization In Income Statement | - | 5.34 | 4.90 | 6.82 | 7.31 |
| General And Administrative Expense | - | 127.30 | 137.74 | 152.32 | 190.70 |
| Other Gand A | - | 127.30 | 137.74 | 152.32 | 190.70 |
| Selling And Marketing Expense | - | 203.15 | 214.75 | 222.70 | 220.98 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Shutterstock, Inc.this co. | SSTK | $485M | 10.65 | 0.83 | 7.8% | 3.27 |
| NerdWallet, Inc. | NRDS | $536M | 11.00 | 1.43 | 13.0% | 3.93 |
| Cars.com Inc. | CARS | $522M | 26.04 | 1.10 | 4.2% | 5.86 |
| Advantage Solutions Inc. | ADV | $509M | - | 0.92 | -41.1% | 26.01 |
| Nexxen International Ltd. | NEXN | $477M | 19.05 |
| - |
| - |
| - |
| - |
| - |
| 1.00 |
| 5.3% |
| 3.66 |
| Starz Entertainment Corp. | STRZ | $470M | -2.23 | 0.61 | -27.6% | 1.81 |
| MediaAlpha, Inc. | MAX | $468M | 18.25 | 112.41 | 615.9% | -5.95 |
| Bumble Inc. | BMBL | $454M | -0.65 | 0.80 | -121.6% | -1.11 |
| OPTU | OPTU | $431M | -0.23 | -0.19 | 80.8% | 16.60 |
| Peer Median | - | 11.00 | 0.96 | 4.8% | 3.79 | |