Shutterstock Reports 17% Revenue Decline and $155.9 Million Net Loss in Q2 2026

Shutterstock, Inc. reported a significant decline in financial performance for the second quarter of 2026, with total revenue falling to $221.8 million, a decrease of 17% compared to $267.0 million in the same period of 2025. The company's net loss for the quarter was $155.9 million, translating to a loss per share of $4.25, compared to a net income of $29.4 million, or $0.84 per share, in the prior year. The decline in revenue was primarily attributed to a decrease in customer acquisition and engagement, particularly in the Content segment, which saw revenues drop by 17% to $165.7 million.

In addition to the revenue decline, Shutterstock recorded a substantial goodwill impairment charge of $173.7 million due to the termination of its merger agreement with Getty Images, which was announced on June 30, 2026. This impairment significantly impacted the company's operating expenses, which totaled $377.0 million for the quarter, up 62% from $232.3 million in the previous year. The increase in operating expenses was also driven by a reduction in sales and marketing costs, which fell by 16% to $48.0 million, and general and administrative expenses, which decreased by 9% to $43.9 million.

Shutterstock's operational metrics reflected a challenging environment, with total paid downloads declining and customer engagement metrics showing weakness. The company reported a decrease in revenue across all geographic regions, with North America experiencing a 20% drop to $118.1 million. The decline in revenue was also evident in the Data, Distribution, and Services segment, which fell by 16% to $56.1 million, primarily due to a decrease in demand for data offerings.

Looking ahead, Shutterstock's management expressed cautious optimism about future growth, emphasizing the need to enhance customer acquisition strategies and improve engagement on its platform. The company continues to focus on its core offerings, including content licensing and data services, while also exploring opportunities for geographic expansion and product innovation. Despite the current challenges, Shutterstock aims to leverage its extensive contributor network and technological capabilities to drive future revenue growth and improve operational efficiency.