NYSE$SSTK
Shutterstock Inc. · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Shutterstock experienced revenue growth driven by enterprise channel momentum and the launch of FLEX 25, with the acquisition of PicMonkey progressing the incorporation of design tools into the creative platform.
Shutterstock's Q3 2021 revenue increased by 18% to $194.4 million, driven by growth in both E-commerce and Enterprise channels. Net income decreased by 29% to $16.0 million, and diluted EPS decreased by 31% to $0.43 per share. The company raised its full year 2021 guidance for revenue, Adjusted EBITDA, and Adjusted net income per diluted share.
- Revenue increased 18% to $194.4 million.
- Subscribers increased 32% to 336,000.
- Subscriber revenue increased 21% to $81.5 million.
- The Company’s revised expectations for the full year 2021 are as follows: Revenue of $765 million to $770 million
Headline financials
Revenue & EPS history
Shutterstock · Revenue · Quarterly
$194M
Forward guidance
The Company’s revised expectations for the full year 2021 are as follows:
Tailwinds
- Revenue of $765 million to $770 million, representing annual growth of 14.75% to 15.5%, an increase from the previous guidance of $740 million to $750 million.
- Adjusted EBITDA of between $185 million to $191 million, an increase from the previous guidance of $175 million to $180 million.
- Adjusted net income per diluted share of between $3.18 to $3.29, an increase from the previous guidance of $2.80 to $2.95 per diluted share.
- E-commerce revenue growth was driven by higher subscriber revenue and also benefited from our acquisitions of TurboSquid and PicMonkey
- Enterprise revenue growth was driven by billings momentum over the last several quarters, supported by sales execution, and the introduction of new subscription products such as SMB Flex.
Headwinds
- Income from operations decreased 24% to $22.2 million.
- Net income decreased 29% to $16.0 million.
- Adjusted EBITDA decreased 6% to $44.4 million.
- Diluted EPS decreased by 31% to $0.43 per share.
- Adjusted net income per diluted share decreased by 13% to $0.70 per share.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+1.0%
Avg return
Earnings day
-0.5%
Avg return
5 days after
-2.8%
Avg return
30 days after
51%
31 / 61 earnings
Positive
+27.5%
Q3 2015
Best reaction
-33.7%
Q2 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.4% | -6.0% | -11.9% | |
| Q4 2025 | -12.3% | -7.1% | -1.4% | |
| Q3 2025 | +4.6% | +2.1% | -12.4% | |
| Q1 2025 | -0.7% | +2.9% | -6.1% | |
| Q4 2024 | -6.9% | -12.2% | -24.7% | |
| Q3 2024 | +12.2% | +8.8% | +7.6% | |
| Q2 2024 | -3.7% | -3.7% | -8.5% | |
| Q1 2024 | -7.5% | -7.4% | -4.3% | |
| Q4 2023 | +0.6% | +4.5% | +4.3% | |
| Q3 2023 | +8.8% | +21.6% | +28.0% | |
| Q2 2023 | -16.7% | -15.2% | -18.2% | |
| Q1 2023 | -2.2% | -0.6% | -27.4% | |
| Q4 2022 | +10.3% | +6.8% | -2.9% | |
| Q3 2022 | +9.5% | +12.5% | +14.7% | |
| Q2 2022 | -2.6% | -4.4% | +1.6% | |
| Q1 2022 | -0.4% | -2.7% | -25.5% | |
| Q4 2021 | -5.4% | -1.3% | -7.2% | |
| Q3 2021 | -2.6% | +0.4% | -5.7% | |
| Q2 2021 | -3.7% | +0.8% | +5.4% | |
| Q1 2021 | -7.4% | -10.3% | -7.7% | |
| Q4 2020 | +24.5% | +24.8% | +33.6% | |
| Q3 2020 | +11.8% | +5.1% | +8.0% | |
| Q2 2020 | +19.9% | +25.2% | +11.3% | |
| Q1 2020 | -1.4% | -6.5% | -5.4% | |
| Q4 2019 | -7.5% | -7.8% | -23.8% | |
| Q3 2019 | -1.3% | -1.9% | +0.6% | |
| Q2 2019 | -7.4% | -8.2% | -6.2% | |
| Q1 2019 | -8.8% | -11.6% | -15.5% | |
| Q4 2018 | +6.0% | +8.6% | +6.0% | |
| Q3 2018 | -8.4% | -10.6% | -14.0% | |
| Q2 2018 | +3.6% | +14.5% | +19.5% | |
| Q1 2018 | -15.9% | -16.2% | -8.5% | |
| Q4 2017 | +12.8% | +12.1% | +10.3% | |
| Q3 2017 | +11.0% | +7.0% | +24.1% | |
| Q2 2017 | -17.5% | -17.8% | -20.6% | |
| Q1 2017 | +0.3% | +1.0% | +8.4% | |
| Q4 2016 | -15.5% | -18.2% | -19.9% | |
| Q3 2016 | -8.5% | -10.6% | -17.7% | |
| Q2 2016 | -0.2% | +0.9% | +2.5% | |
| Q1 2016 | +1.1% | — | — | |
| Q4 2015 | +15.6% | — | — | |
| Q3 2015 | +27.5% | — | — | |
| Q2 2015 | -33.7% | — | — | |
| Q1 2015 | -4.7% | — | — | |
| Q4 2014 | +1.7% | — | — | |
| Q3 2014 | +5.2% | — | — | |
| Q2 2014 | -0.2% | — | — | |
| Q1 2014 | -1.4% | — | — | |
| Q4 2013 | +18.6% | — | — | |
| Q3 2013 | +4.2% | — | — | |
| Q2 2012 | +2.7% | — | — | |
| Q2 2013 | +7.0% | — | — | |
| Q1 2012 | +6.3% | — | — | |
| Q1 2013 | +3.8% | — | — | |
| Q2 2011 | +4.8% | — | — | |
| Q1 2011 | +4.8% | — | — | |
| Q4 2010 | +4.8% | — | — | |
| Q4 2012 | +24.2% | — | — | |
| Q3 2011 | -4.9% | — | — | |
| Q4 2011 | -4.9% | — | — | |
| Q3 2012 | +2.2% | — | — |
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