SSTK

MKT CAP:$626M

Shutterstock, Inc.

Market Cap

$626M

Communication Services·Internet Content & Information·🇺🇸 United States·NYSE

Communication·Internet·🇺🇸·NYSE

Stock Price

$17.86-$0.83 (-4.41%)

Apr 24, 2026

Company Details

Shutterstock, Inc., a technology company, provides quality content, and creative workflow solutions in North America, Europe, and internationally. It offers image services consisting of photographs, vectors, and illustrations, which is used...

CEO

Paul J. Hennessy

IPO Date

Oct 11, 2012

Website

www.shutterstock.com

Key Metrics TTM

Revenue

$990M

+5.8% YoY

Net Income

$45M

EPS (Diluted)

$1.29

Free Cash Flow

$123M

Revenue / Share

$26.66

Gross Margin

58.7%

Operating Margin

7.9%

Net Margin

4.6%

FCF Margin

12.4%

P/S

0.6x

P/E

13.8x

Earnings Reports

Q1 2026

May 1, 2026

PENDING

Q4 2025

Feb 17, 2026

$220M-12.0%EPS -$0.43

Q3 2025

Nov 5, 2025

$260M+3.8%EPS $0.37

Q2 2025

Jul 29, 2025

$267M+21.3%EPS $0.82

Q1 2025

May 2, 2025

$243M+13.2%EPS $0.53

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$199M	$130M	$32M
Q2 22	$207M	$130M	$25M
Q3 22	$204M	$124M	$29M
Q4 22	$218M	$130M	$8M
Q1 23	$215M	$137M	$40M
Q2 23	$209M	$124M	$9M
Q3 23	$233M	$139M	$17M
Q4 23	$217M	$121M	$2M
Q1 24	$214M	$126M	$17M
Q2 24	$220M	$129M	$21M
Q3 24	$251M	$146M	$18M
Q4 24	$250M	$138M	$13M
Q1 25	$243M	$142M	$10M
Q2 25	$267M	$161M	$35M
Q3 25	$260M	$158M	$32M
Q4 25	$220M	$121M	$786.0K

Valuation

Quarter	P/S	P/E
Q1 22	4.4x	38.7x
Q2 22	2.6x	26.5x
Q3 22	2.2x	21.4x
Q4 22	2.4x	26.5x
Q1 23	3.1x	31.8x
Q2 23	2.1x	15.8x
Q3 23	1.6x	11.6x
Q4 23	2.0x	15.8x
Q1 24	1.8x	17.2x
Q2 24	1.5x	28.2x
Q3 24	1.4x	34.7x
Q4 24	1.1x	29.8x
Q1 25	0.7x	17.1x
Q2 25	0.7x	10.3x
Q3 25	0.7x	12.1x
Q4 25	0.7x	14.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$23M	$10M
Q2 22	$37M	$22M
Q3 22	$38M	$21M
Q4 22	$61M	$45M
Q1 23	$67M	$51M
Q2 23	$30M	$18M
Q3 23	$10M	-$6M
Q4 23	$34M	$23M
Q1 24	$8M	-$7M
Q2 24	$28M	$18M
Q3 24	-$12M	-$27M
Q4 24	$8M	-$3M
Q1 25	$25M	$14M
Q2 25	$27M	$16M
Q3 25	$78M	$67M
Q4 25	$36M	$26M

Capital Expenditures

Quarter	CapEx
Q1 22	$13M
Q2 22	$15M
Q3 22	$16M
Q4 22	$16M
Q1 23	$16M
Q2 23	$12M
Q3 23	$16M
Q4 23	$11M
Q1 24	$15M
Q2 24	$10M
Q3 24	$15M
Q4 24	$10M
Q1 25	$11M
Q2 25	$11M
Q3 25	$12M
Q4 25	$10M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+8.6%	+15.2%
Q2 22	+8.9%	+15.8%
Q3 22	+5.0%	+1.8%
Q4 22	+5.8%	+9.9%
Q1 23	+8.1%	+4.6%
Q2 23	+1.0%	+10.3%
Q3 23	+14.3%	+23.2%
Q4 23	-0.2%	+2.4%
Q1 24	-0.4%	+13.0%
Q2 24	+5.4%	-0.4%
Q3 24	+7.4%	+7.6%
Q4 24	+15.2%	+10.3%
Q1 25	+13.2%	+17.6%
Q2 25	+21.3%	+16.5%
Q3 25	+3.8%	-2.1%
Q4 25	-12.0%	-7.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$8M	3.9%
Q2 22	$7M	3.4%
Q3 22	$9M	4.5%
Q4 22	$12M	5.4%
Q1 23	$9M	4.0%
Q2 23	$15M	7.2%
Q3 23	$13M	5.6%
Q4 23	$12M	5.5%
Q1 24	$11M	5.2%
Q2 24	$15M	6.8%
Q3 24	$15M	6.0%
Q4 24	$15M	6.0%
Q1 25	$18M	7.4%
Q2 25	$369.0K	0.1%
Q3 25	$13M	5.0%
Q4 25	$15M	6.6%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$14M	$31M	$53M
Q2 22	$17M	$33M	$54M
Q3 22	$18M	$30M	$48M
Q4 22	$17M	$39M	$48M
Q1 23	$15M	$34M	$48M
Q2 23	$29M	$38M	$48M
Q3 23	$28M	$38M	$56M
Q4 23	$23M	$33M	$63M
Q1 24	$21M	$31M	$56M
Q2 24	$20M	$36M	$52M
Q3 24	$29M	$44M	$55M
Q4 24	$19M	$47M	$59M
Q1 25	$20M	$58M	$53M
Q2 25	$21M	$48M	$57M
Q3 25	$33M	$36M	$59M
Q4 25	$26M	$48M	$51M

Revenue Segments

Quarter	E-Commerce	Enterprise
Q1 22	$127M	$72M
Q2 22	$127M	$79M
Q3 22	$125M	$80M
Q4 22	$122M	$95M
Q1 23	$120M	$96M
Q2 23	$112M	$97M
Q3 23	$106M	$127M
Q4 23	$102M	$115M
Q1 24	$174M	$40M
Q2 24	$170M	$50M
Q3 24	$204M	$47M
Q1 25	$203M	$40M
Q2 25	$200M	$67M
Q3 25	$194M	$66M

Revenue by Geography

Quarter	All Regions Of The World Except North America And Europe	Europe	North America
Q1 22	$57M	$63M	$80M
Q2 22	$58M	$63M	$86M
Q3 22	$58M	$57M	$89M
Q4 22	$59M	$60M	$98M
Q1 23	$57M	$59M	$99M
Q2 23	$54M	$58M	$96M
Q3 23	$53M	$57M	$123M
Q4 23	$51M	$57M	$109M
Q1 24	$48M	$55M	$110M
Q2 24	$47M	$53M	$120M
Q3 24	$61M	$69M	$121M
Q1 25	$56M	$66M	$120M
Q2 25	$55M	$64M	$148M
Q3 25	$54M	$64M	$143M
Q4 25	$52M	$70M	$98M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$258M	$0	$258M
Q2 22	$84M	$0	$84M
Q3 22	$76M	$0	$76M
Q4 22	$115M	$0	$115M
Q1 23	$96M	$0	$96M
Q2 23	$87M	$0	$87M
Q3 23	$75M	$0	$75M
Q4 23	$100M	$0	$100M
Q1 24	$72M	$0	$72M
Q2 24	$75M	$0	$75M
Q3 24	$131M	$0	$131M
Q4 24	$111M	$0	$111M
Q1 25	$112M	$0	$112M
Q2 25	$116M	$0	$116M
Q3 25	$166M	$0	$166M
Q4 25	$178M	$0	$178M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	37M	-0.6%	-0.1%
Q2 22	37M	-1.7%	-1.6%
Q3 22	36M	-0.8%	-3.1%
Q4 22	36M	-0.3%	-3.4%
Q1 23	37M	+1.2%	-1.7%
Q2 23	36M	-0.5%	-0.5%
Q3 23	36M	-0.9%	-0.5%
Q4 23	36M	-1.1%	-1.2%
Q1 24	36M	+1.0%	-1.4%
Q2 24	36M	-0.2%	-1.2%
Q3 24	35M	-1.4%	-1.7%
Q4 24	36M	+0.5%	-0.1%
Q1 25	35M	-0.9%	-2.1%
Q2 25	36M	+1.8%	-0.1%
Q3 25	37M	+1.9%	+3.3%
Q4 25	37M	+1.3%	+4.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$173.5K	1K
Q2 22	$180.2K	1K
Q3 22	$177.8K	1K
Q4 22	$164.0K	1K
Q1 23	$162.1K	1K
Q2 23	$157.3K	1K
Q3 23	$175.6K	1K
Q4 23	$170.5K	1K
Q1 24	$168.2K	1K
Q2 24	$172.7K	1K
Q3 24	$196.7K	1K
Q4 24	$146.0K	2K
Q1 25	$141.5K	2K
Q2 25	$155.7K	2K
Q3 25	$151.7K	2K
Q4 25	$140.7K	2K

Revenue / Employee