SSTK FY 2019 Earnings Report — Shutterstock, Inc. Revenue & Financial Results | Market Cap Arena

Shutterstock, Inc.SSTK

FY 2019 Earnings

Reported February 13, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$651M	—	$623M	—	4.4%
Op. Income	$20M	—	$32M	—	-37.9%
Gross Margin	57.2%	—	57.1%	—	0.2pp
Net Margin	3.1%	—	8.8%	—	-5.7pp
EPS (Diluted)	$0.57	—	$1.54	—	-63.0%
Free Cash Flow	$73M	—	$63M	—	15.4%

Revenue Flow

Item	Amount
REVENUE	$651M
Cost of Revenue	$278M
GROSS PROFIT	$372M
R&D Expenses	$57M
Selling & Marketing	$182M
General & Administrative	$113M
SG&A Expenses	$295M
Other Expenses	$0
Operating Expenses	$352M
Cost & Expenses	$630M
OPERATING INCOME	$20M
Interest Income	$4M
Interest Expense	$0
Other Income/Expenses	$5M
INCOME BEFORE TAX	$25M
Income Tax Expense	$5M
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	$50M
EBIT	$20M
EBITDA	$70M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$651M
Cost of Revenue	$278M
GROSS PROFIT	$372M
R&D Expenses	$57M
Selling & Marketing	$182M
General & Administrative	$113M
SG&A Expenses	$295M
Other Expenses	$0
Operating Expenses	$352M
Cost & Expenses	$630M
OPERATING INCOME	$20M
Interest Income	$4M
Interest Expense	$0
Other Income/Expenses	$5M
INCOME BEFORE TAX	$25M
Income Tax Expense	$5M
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	$50M
EBIT	$20M
EBITDA	$70M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$20M
Depreciation & Amortization	$50M
Stock-Based Compensation	$23M
Deferred Income Tax	-$2M
Other Non-Cash Items	$84.0K
Change in Working Capital	$12M
OPERATING CASH FLOW	$103M
Capital Expenditure	-$29M
Acquisitions (Net)	$3M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$309.0K
NET CASH FROM INVESTING	-$27M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$2M
FREE CASH FLOW	$73M
Net Change in Cash	$72M

Balance Sheet

Item	Amount
Cash & Equivalents	$303M
Short-Term Investments	$0
Net Receivables	$47M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$377M
PP&E (Net)	$104M
Goodwill	$89M
Intangible Assets	$27M
Long-Term Investments	$0
Tax Assets	$14M
Other Non-Current Assets	$19M
TOTAL NON-CURRENT ASSETS	$254M
TOTAL ASSETS	$631M
Account Payables	$6M
Short-Term Debt	$0
Deferred Revenue	$142M
Other Current Liabilities	$40M
TOTAL CURRENT LIABILITIES	$246M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$9M
TOTAL NON-CURRENT LIABILITIES	$56M
TOTAL LIABILITIES	$302M
Common Stock	$381.0K
Additional Paid-In Capital	$313M
Retained Earnings	$121M
Treasury Stock	-$100M
Accum. Other Comp. Income	-$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$328M
Minority Interest	$0
TOTAL EQUITY	$328M
TOTAL LIABILITIES & EQUITY	$631M
Total Debt	$47M
Net Debt	-$256M