PR Newswire·Apr 28, 2026, 7:02 AM ET

Shutterstock Reports First Quarter 2026 Financial Results

SSTK

Shutterstock reported Q1 2026 revenue of $199.2 million, an 18% decrease from $242.6 million in Q1 2025.
The company recorded a net loss of $47.6 million for the quarter, compared to a net income of $18.7 million in the prior year period.
Adjusted EBITDA was $42.7 million, down 33% from $63.4 million in Q1 2025, while adjusted net income fell to $20.7 million from $36.3 million.
Content product revenue decreased 12% to $178.1 million, driven by weakness in new customer acquisition.
Data, Distribution, & Services revenue dropped 47% to $21.0 million, impacted by the timing of data licensing revenue recognition.
Net loss per diluted share was $1.34, compared to $0.53 income per diluted share in Q1 2025.
Key factors contributing to the net loss included $28.0 million in legal contingency expenses, $15.3 million in unrealized losses on the Meitu investment, & $6.1 million in workforce optimization costs.
Shutterstock remains committed to its pending merger with Getty Images, disagreeing with the UK CMA's provisional finding of a substantial lessening of competition in the UK editorial market.
The CMA has indicated that selling Shutterstock's Rex Features, Backgrid, & Splash News businesses would likely be an acceptable remedy, with a final report deadline of June 14, 2026.
The US DOJ concluded its merger review on February 23, 2026, with the HSR waiting period expiring without conditions.
Cash & cash equivalents decreased by $15.7 million to $162.5 million at March 31, 2026.
Adjusted free cash flow for the quarter was $13.1 million, a decrease of $10.3 million from the prior year period.
Subscribers declined to 993,000 at the end of the quarter from 1,079,000 in Q1 2025, while average revenue per customer rose to $284.
The company declared a quarterly cash dividend of $0.36 per share, payable on June 18, 2026, to shareholders of record on June 4, 2026.