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Shutterstock Reports Second Quarter 2026 Financial Results

SSTK
  • Shutterstock reported a net loss of $155.9 million for the second quarter ended June 30, 2026, compared to a net income of $29.4 million in the same period in 2025.
  • Total revenue for the quarter decreased 17% to $221.8 million from $267.0 million in the prior year quarter.
  • The reported net loss includes a $173.7 million non-cash, after-tax goodwill impairment charge resulting from the decline in fair value following the termination of the proposed merger.
  • Content product revenue fell 17% to $165.7 million, driven by weakness in new customer acquisition, while Data, Distribution, & Services revenue declined 16% to $56.1 million.
  • Adjusted net income was $30.0 million, down from $42.9 million in the second quarter of 2025, with adjusted net income per diluted share at $0.82.
  • Adjusted EBITDA decreased 21% to $65.1 million from $82.2 million in the second quarter of 2025.
  • Interim CEO & CFO Rik Powell stated the company has taken over $70 million in annualized cost reductions over 18 months and targets an additional $60 million in reductions by year-end.
  • The company announced a $35.0 million settlement payment to the FTC regarding civil investigative demands, which contributed to a $29.3 million decrease in cash and cash equivalents to $133.2 million.
  • Subscriber count at period end dropped to 951,000 from 1,073,000 in the second quarter of 2025.
  • Shutterstock will not host the scheduled August 6, 2026 earnings conference call or issue guidance for the remainder of 2026 due to pending strategic updates.
  • Adjusted free cash flow for the quarter was $28.5 million, an increase of $11.0 million compared to the second quarter of 2025.