SSTK FY 2016 Earnings Report — Shutterstock, Inc. Revenue & Financial Results | Market Cap Arena

Shutterstock, Inc.SSTK

FY 2016 Earnings

Reported February 27, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$494M	—	$425M	—	16.3%
Op. Income	$46M	—	$41M	—	11.6%
Gross Margin	58.9%	—	58.9%	—	-0.0pp
Net Margin	6.6%	—	4.6%	—	2.0pp
EPS (Diluted)	$0.91	—	$0.54	—	68.5%
Free Cash Flow	$53M	—	$68M	—	-22.2%

Revenue Flow

Item	Amount
REVENUE	$494M
Cost of Revenue	$203M
GROSS PROFIT	$291M
R&D Expenses	$48M
Selling & Marketing	$127M
General & Administrative	$71M
SG&A Expenses	$198M
Other Expenses	-$1M
Operating Expenses	$245M
Cost & Expenses	$449M
OPERATING INCOME	$46M
Interest Income	$149.0K
Interest Expense	$0
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$44M
Income Tax Expense	$12M
Net Income from Continuing Ops	$33M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$33M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$33M
D&A	$20M
EBIT	$46M
EBITDA	$66M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$494M
Cost of Revenue	$203M
GROSS PROFIT	$291M
R&D Expenses	$48M
Selling & Marketing	$127M
General & Administrative	$71M
SG&A Expenses	$198M
Other Expenses	-$1M
Operating Expenses	$245M
Cost & Expenses	$449M
OPERATING INCOME	$46M
Interest Income	$149.0K
Interest Expense	$0
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$44M
Income Tax Expense	$12M
Net Income from Continuing Ops	$33M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$33M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$33M
D&A	$20M
EBIT	$46M
EBITDA	$66M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$33M
Depreciation & Amortization	$20M
Stock-Based Compensation	$28M
Deferred Income Tax	$2M
Other Non-Cash Items	$5M
Change in Working Capital	$14M
OPERATING CASH FLOW	$101M
Capital Expenditure	-$48M
Acquisitions (Net)	$0
Purchases of Investments	-$9M
Sales/Maturities of Investments	$0
Other Investing Activities	-$9M
NET CASH FROM INVESTING	-$57M
Net Debt Issuance	$0
Common Stock Repurchased	-$60M
Common Dividends Paid	$0
Other Financing Activities	$5M
NET CASH FROM FINANCING	-$54M
FREE CASH FLOW	$53M
Net Change in Cash	-$17M

Balance Sheet

Item	Amount
Cash & Equivalents	$224M
Short-Term Investments	$55M
Net Receivables	$38M
Inventory	$0
Other Current Assets	$23M
TOTAL CURRENT ASSETS	$340M
PP&E (Net)	$56M
Goodwill	$49M
Intangible Assets	$30M
Long-Term Investments	$3M
Tax Assets	$23M
Other Non-Current Assets	$798.0K
TOTAL NON-CURRENT ASSETS	$162M
TOTAL ASSETS	$502M
Account Payables	$7M
Short-Term Debt	$0
Deferred Revenue	$122M
Other Current Liabilities	$53M
TOTAL CURRENT LIABILITIES	$203M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$9M
TOTAL NON-CURRENT LIABILITIES	$12M
TOTAL LIABILITIES	$215M
Common Stock	$369.0K
Additional Paid-In Capital	$252M
Retained Earnings	$129M
Treasury Stock	-$78M
Accum. Other Comp. Income	-$17M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$287M
Minority Interest	$0
TOTAL EQUITY	$287M
TOTAL LIABILITIES & EQUITY	$502M
Total Debt	$0
Net Debt	-$224M