Getty Images Q2 2023 revenue down 3.3% YoY; net loss of $4.3M vs net income of $38.7M in Q2'22

Getty Images Holdings, Inc.

2023-Q2 EPS reported $0.00 revenue$461,317,000

Revenue $225.7M, down 3.3% YoY (2.0% currency-neutral); Creative revenue $141.3M (-3.7%), Editorial $80.3M (-3.2%).
Net loss of $4.3M vs net income of $38.7M in Q2'22; net income margin fell to (1.9%) from 16.6%.
Adjusted EBITDA $66.5M, down 10.3% YoY; margin 29.5% vs 31.7% due to revenue decline and $7M incremental legal costs.
Cash balance $121.3M up $23.4M from Dec'22; revolver upsized to $150M, mature May 2028, remains undrawn.
Voluntary $20M USD term loan repayment on Aug 11, 2023; year-to-date debt paydown $45.2M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Getty Images Holdings, Inc. reported the fiscal quarter ended June 30, 2023 results: revenue $225.7 million, net income Net Loss of $4.3 million.

Period: the fiscal quarter ended June 30, 2023
Revenue: $225.7 million
Net income: Net Loss of $4.3 million
Result: preliminary results

Exact text from the filing

our highly differentiated, industry-leading content and services, and positioning Getty Images for long-term success.” Second Quarter 2023 Financial Summary: • Revenue of $225.7 million declined 3.3% year over year. On a currency neutral basis, revenues decreased 2.0%. • Creative revenue of $141.3 million, down 3.7% year over year and 2.3% on a currency

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Source: SEC EDGAR

accession 0001104659-23-091372

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