SSTK FY 2015 Earnings Report — Shutterstock, Inc. Revenue & Financial Results | Market Cap Arena

Shutterstock, Inc.SSTK

FY 2015 Earnings

Reported February 24, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$425M	—	$328M	—	29.6%
Op. Income	$41M	—	$39M	—	6.1%
Gross Margin	58.9%	—	60.4%	—	-1.4pp
Net Margin	4.6%	—	6.7%	—	-2.1pp
EPS (Diluted)	$0.54	—	$0.61	—	-11.5%
Free Cash Flow	$68M	—	$64M	—	6.5%

Revenue Flow

Item	Amount
REVENUE	$425M
Cost of Revenue	$175M
GROSS PROFIT	$251M
R&D Expenses	$41M
Selling & Marketing	$107M
General & Administrative	$62M
SG&A Expenses	$168M
Other Expenses	$0
Operating Expenses	$210M
Cost & Expenses	$384M
OPERATING INCOME	$41M
Interest Income	$27.0K
Interest Expense	$0
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$34M
Income Tax Expense	$15M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$20M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$15M
EBIT	$41M
EBITDA	$56M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$425M
Cost of Revenue	$175M
GROSS PROFIT	$251M
R&D Expenses	$41M
Selling & Marketing	$107M
General & Administrative	$62M
SG&A Expenses	$168M
Other Expenses	$0
Operating Expenses	$210M
Cost & Expenses	$384M
OPERATING INCOME	$41M
Interest Income	$27.0K
Interest Expense	$0
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$34M
Income Tax Expense	$15M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$20M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$15M
EBIT	$41M
EBITDA	$56M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$20M
Depreciation & Amortization	$15M
Stock-Based Compensation	$29M
Deferred Income Tax	-$5M
Other Non-Cash Items	$6M
Change in Working Capital	$21M
OPERATING CASH FLOW	$85M
Capital Expenditure	-$17M
Acquisitions (Net)	-$62M
Purchases of Investments	-$271M
Sales/Maturities of Investments	$278M
Other Investing Activities	-$288.0K
NET CASH FROM INVESTING	-$72M
Net Debt Issuance	$0
Common Stock Repurchased	-$15M
Common Dividends Paid	$0
Other Financing Activities	$2M
NET CASH FROM FINANCING	-$4M
FREE CASH FLOW	$68M
Net Change in Cash	$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$241M
Short-Term Investments	$47M
Net Receivables	$28M
Inventory	$0
Other Current Assets	$12M
TOTAL CURRENT ASSETS	$336M
PP&E (Net)	$32M
Goodwill	$51M
Intangible Assets	$30M
Long-Term Investments	$2M
Tax Assets	$19M
Other Non-Current Assets	$146.0K
TOTAL NON-CURRENT ASSETS	$133M
TOTAL ASSETS	$469M
Account Payables	$7M
Short-Term Debt	$0
Deferred Revenue	$98M
Other Current Liabilities	$46M
TOTAL CURRENT LIABILITIES	$161M
Long-Term Debt	$0
Deferred Revenue NC	$7M
Deferred Tax Liabilities	$4M
Other Non-Current Liabilities	$16M
TOTAL NON-CURRENT LIABILITIES	$20M
TOTAL LIABILITIES	$181M
Common Stock	$361.0K
Additional Paid-In Capital	$214M
Retained Earnings	$96M
Treasury Stock	-$16M
Accum. Other Comp. Income	-$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$289M
Minority Interest	$0
TOTAL EQUITY	$289M
TOTAL LIABILITIES & EQUITY	$469M
Total Debt	$0
Net Debt	-$241M