Getty Images Q1 revenue up 2% to $235.6M; net income falls to $3.2M from $25.1M

Getty Images Holdings, Inc.

2023-Q1 EPS reported $0.01 revenue$235,642,000

Creative revenue $146.5M (-1.3% YoY); editorial revenue $84.6M (+7.5% YoY).
Adjusted EBITDA $76.1M (-2% YoY); margin 32.3% vs 33.6%.
Annual subscription revenue exceeded 50% of total, up from 48.3% in Q1'22.
Ended quarter with $116.8M cash; upsized revolver to $150M, extended to 2028.
Made $20M voluntary USD term loan repayment in May from balance sheet cash.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Getty Images Holdings, Inc. reported first quarter ended March 31, 2023 results: revenue $235.6 million, net income $3.2 million.

Period: first quarter ended March 31, 2023
Revenue: $235.6 million
Net income: $3.2 million
Result: reported results

Exact text from the filing

First Quarter 2023 Financial Summary: · Revenue of $235.6 million grew 2% year over year. On a currency neutral basis, revenues increased 5.5%. o Creative revenue of $146.5 million, down 1.3% year over year and up 1.9% on a currency neutral basis. o Editorial revenue of $84.6 million, up 7.5% year over year and 11.3% on a currency neutral basis. o Annual Subscription Revenue as a percentage of total revenue grew to over 50%, up from 48.3% in Q1’22 and up from a finish of 49% for the full year 2022. · Net Income of $3.2 million, down from $25.1 million from Q1’22.

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Source: SEC EDGAR

accession 0001104659-23-059160

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