Earnings Releases·Nov 5, 2026, 7:16 AM ET

Shutterstock — Third Quarter 2026 Earnings Summary

Total revenue declined 33% year-over-year to $173.9 million, while the company reported a net loss of $197.8 million driven primarily by a $195.6 million non-cash goodwill impairment charge triggered by the July 2026 dividend suspension; adjusted net income fell to $16.7 million from $36.4 million in the prior year period.
Operational restructuring is underway with a 30% year-over-year reduction in Product Development and SG&A expenses, a 16% year-to-date headcount reduction, and a commitment to achieve $60 million in annualized run-rate operating expense reductions.
Strategic leadership changes include the appointment of Hichame Assi as President and COO and Scott Grossman as Interim CFO, while the company repaid $30.0 million on its revolving credit facility and reduced total debt to $242.5 million.
Core business metrics show subscriber counts dropping to 890,000 and paid downloads falling to 90.9 million, though average revenue per customer rose to $289; management cites AI as a fundamental shift creating new opportunities despite continued headwinds in the Content segment.