Shutterstock, Inc. SSTK
Shutterstock, Inc. (referred to herein as the "Company", "we," "our," and "us") is a leading global creative platform connecting brands and businesses to high quality content.
Our platform brings together users and contributors of content by providing readily-searchable content that our customers pay to license and by compensating contributors as their content is licensed. Contributors upload their content to our web properties in exchange for royalty payments based on customer download activity. Beyond content, customers also leverage our platform to assist with the entire creative process from ideation through creative execution.
Digital content licensed to our customers for their creative needs includes images, footage, music, and 3D models (our "Content" offering). Our Content revenues represent the majority of our business and are supported by our searchable creative platform and driven by our large contributor network.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $989.9M | $935.3M | $874.6M | $827.8M | $773.4M | $666.7M | $650.5M | $623.2M | $557.1M | $494.3M |
| Cost of revenue | $406.8M | $396.3M | $352.6M | $314.3M | $277.7M | $259.6M | $278.2M | $267.7M | $233.1M | $203.1M |
| Gross profit | $583.1M | $539.0M | $522.0M | $513.5M | $495.8M | $407.1M | $372.3M | $355.6M | $324.0M | $291.2M |
| R&D | $89.0M | $88.4M | $96.2M | $65.4M | $52.0M | $46.0M | $57.2M | $58.9M | $52.5M | $47.8M |
| SG&A | $198.0M | $159.1M | $142.6M | $132.6M | $130.8M | $116.6M | $113.2M | $97.8M | $98.7M | $71.0M |
| Total operating expenses | $914.9M | $866.6M | $806.2M | $734.2M | $665.3M | $581.4M | $630.4M | $590.8M | $530.8M | $448.5M |
| Operating income | $75.1M | $68.7M | $68.4M | $93.6M | $108.1M | $85.3M | $20.2M | $32.5M | $26.3M | $45.8M |
| Interest expense | $16.8M | $10.6M | $1.9M | $1.3M | — | — | — | — | — | — |
| Pre-tax income | $75.3M | $62.5M | $122.5M | $91.0M | $104.7M | $89.5M | $24.9M | $66.1M | $30.1M | $44.5M |
| Income tax | $29.8M | $26.6M | $12.2M | $14.9M | $12.9M | $17.8M | $4.8M | $11.4M | $13.4M | $11.9M |
| Net income | $45.5M | $35.9M | $110.3M | $76.1M | $91.9M | $71.8M | $20.1M | $54.7M | $16.7M | $32.6M |
| EPS, basic | 1.29 | 1.02 | 3.07 | 2.11 | 2.52 | 2.00 | 0.57 | 1.57 | 0.48 | 0.93 |
| EPS, diluted | 1.25 | 1.01 | 3.04 | 2.08 | 2.46 | 1.97 | 0.57 | 1.54 | 0.47 | 0.91 |
| Shares, diluted (wtd. avg.) | $36.3M | $35.7M | $36.2M | $36.5M | $37.3M | $36.4M | $35.6M | $35.4M | $35.3M | $35.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $178.2M | $111.3M | $100.5M | $115.2M | $314.0M | $428.6M | $305.9M | $233.5M | $256.0M | $226.8M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $55.0M |
| Receivables | $112.6M | $95.2M | $91.1M | $67.2M | $47.7M | $43.8M | $47.0M | $41.0M | $49.9M | $38.1M |
| Total current assets | $338.6M | $256.0M | $292.6M | $215.7M | $388.2M | $489.1M | $377.0M | $306.7M | $340.5M | $339.8M |
| Property, plant and equipment | $62.6M | $66.4M | $64.3M | $54.5M | $48.1M | $50.9M | $58.8M | $76.2M | $85.7M | $56.1M |
| Goodwill | $574.6M | $569.7M | $383.3M | $381.9M | $219.8M | $89.4M | $89.0M | $88.6M | $98.7M | $49.3M |
| Other intangibles | $215.7M | $248.5M | $184.4M | $173.1M | $123.8M | $25.8M | $26.7M | $29.5M | $34.2M | $30.2M |
| Total assets | $1.36B | $1.31B | $1.04B | $881.2M | $851.7M | $729.6M | $630.5M | $531.5M | $577.8M | $501.8M |
| Accounts payable | $13.9M | $9.2M | $9.1M | $7.2M | $10.1M | $2.4M | $6.1M | $7.2M | $7.2M | $7.3M |
| Short-term debt | $158.1M | $158.1M | $30.0M | $50.0M | $0 | — | — | — | — | — |
| Total current liabilities | $628.4M | $625.3M | $452.4M | $383.7M | $333.8M | $256.9M | $245.9M | $223.3M | $245.7M | $203.5M |
| Long-term debt | $116.6M | $119.6M | $0 | — | — | — | — | — | — | — |
| Total liabilities | $774.9M | $790.8M | $508.9M | $433.7M | $383.2M | $307.7M | $302.4M | $244.8M | $263.2M | $215.1M |
| Retained earnings | $335.2M | $336.2M | $342.7M | $271.1M | $229.5M | $168.3M | $121.2M | $101.1M | $145.1M | $129.1M |
| Total equity | $581.0M | $518.4M | $527.1M | $447.5M | $468.5M | $421.9M | $328.1M | $286.7M | $314.6M | $287.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $166.7M | $32.6M | $140.6M | $158.5M | $216.4M | $165.1M | $102.6M | $102.2M | $108.0M | $100.7M |
| Depreciation and amortisation | $90.9M | $87.6M | $79.7M | $68.5M | $48.8M | $41.4M | $49.9M | $45.7M | $35.5M | $19.9M |
| Stock-based compensation | $61.1M | $56.3M | $48.6M | $35.7M | $36.2M | $28.3M | $22.8M | $23.9M | $25.0M | $28.1M |
| Capital expenditure | $42.9M | $47.2M | $44.6M | $43.3M | $28.1M | $25.6M | $26.1M | $34.9M | $55.1M | $40.0M |
| Investing cash flow | -$47.8M | -$166.2M | -$54.3M | -$275.6M | -$250.4M | -$35.3M | -$27.2M | -$12.8M | -$57.4M | -$56.4M |
| Financing cash flow | -$59.1M | $150.1M | -$102.7M | -$79.5M | -$77.7M | -$4.6M | -$1.7M | -$109.7M | -$33.9M | -$53.1M |
| Dividends paid | $46.5M | $42.4M | $38.7M | $34.6M | $30.7M | $24.4M | $0 | $104.9M | $0 | $0 |
| Buybacks | $0 | $41.6M | $28.2M | $73.5M | $26.5M | $0 | $0 | $0 | $25.0M | $60.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001549346-26-000018.
Others in SIC 7374
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| VRSK | Verisk Analytics, Inc. | $24.34B | 28.7x | 6.6% |
| TOST | Toast, Inc. | $19.62B | 60.6x | 24.1% |
| APLD | Applied Digital Corp. | $7.69B | — | 167.5% |
| HNGE | Hinge Health, Inc. | $7.29B | — | 50.6% |
| RNG | RingCentral, Inc. | $6.17B | 152.9x | 4.8% |