NYSE$SSTK
Shutterstock Inc. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported third quarter 2023 financial results, demonstrating revenue growth and strategic advancements.
Shutterstock reported a 14% increase in revenue to $233.2 million, driven by a 60% surge in Enterprise sales. Net income rose by 23% to $28.4 million, and adjusted EBITDA increased by 15% to $64.7 million. The company raised its full-year revenue and EBITDA guidance for 2023.
- Revenue increased by 14% to $233.2 million, driven by strong growth in the Enterprise sales channel.
- Enterprise revenue grew by 60%, with computer vision data partnerships contributing significantly.
- Net income increased by 23% to $28.4 million, which included a non-taxable bargain purchase gain of $9.9 million from the Giphy acquisition.
- Adjusted EBITDA increased by 15% to $64.7 million, reflecting revenue growth partially offset by higher operating expenses.
Headline financials
Revenue & EPS history
Shutterstock · Revenue · Quarterly
$233M
Forward guidance
The Company increased its guidance for the full year 2023, to the following:
Tailwinds
- Revenue of $869 million to $886 million, representing annual growth of 5% to 7%.
- Adjusted EBITDA of between $240 million to $245 million.
- Adjusted net income per diluted share of between $4.18 to $4.30.
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 2023
+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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