Shutterstock, Inc. reported significant financial growth in its latest quarterly results, with total revenue reaching $266.99 million for the three months ended June 30, 2025, a 21% increase from $220.05 million in the same period last year. The company's net income surged to $29.44 million, compared to $3.63 million in the prior year, reflecting a substantial 712% increase. For the first half of 2025, revenue totaled $509.61 million, up 17% from $434.37 million in the first half of 2024, while net income for the period rose to $48.13 million from $19.75 million.
The growth in revenue was primarily driven by the acquisition of Envato, which contributed significantly to both content and data service revenues. Content revenues increased by 18% to $199.80 million, while revenues from data, distribution, and services rose by 34% to $67.19 million. The company also noted a positive impact from foreign currency translation, with a gain of $10.02 million in the second quarter. The increase in operating expenses, which rose to $232.26 million from $199.39 million, was attributed to higher costs associated with the Envato acquisition and increased general and administrative expenses related to the upcoming merger with Getty Images.
Shutterstock's operational metrics showed a healthy increase in customer engagement, with a notable rise in paid downloads and subscriber revenue. The company reported a total of 35,257 weighted average common shares outstanding, with diluted earnings per share increasing to $0.82 from $0.10 year-over-year. The company’s cash and cash equivalents stood at $116.41 million as of June 30, 2025, reflecting a solid liquidity position.
Strategically, Shutterstock is moving forward with its merger agreement with Getty Images, which was approved by shareholders in June 2025. The merger is expected to enhance Shutterstock's market position and expand its offerings. The company is also focused on integrating its recent acquisitions, including Envato and Backgrid, to leverage synergies and drive further growth. Looking ahead, Shutterstock anticipates continued revenue growth, driven by its expanding product offerings and increased customer engagement, while managing operational costs effectively.
About Shutterstock, Inc.
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