secwatch.observer — SEC 8-K summary
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Issuer:     Shutterstock, Inc. (SSTK)
CIK:        0001549346
Form:       8-K
Filed at:   2026-11-05T12:16:18+00:00
Accession:  0001140361-26-042037
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Shutterstock Q3 revenue falls 33% to $173.9M; net loss $197.8M on $203.3M goodwill impairment; CFO exits
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- Q3 revenue $173.9M, down 33% YoY; Content revenue $158.1M (-19%) and Data/Distribution/Services $15.8M (-76%).
- Net loss $197.8M vs $13.4M net income; diluted EPS -$5.35 vs $0.37; includes $203.3M non-cash goodwill impairment ($195.6M after tax).
- Adjusted net income $16.7M, adjusted EPS $0.45 vs $0.99; adjusted EBITDA $41.8M (-47%); OpEx cut 30% YoY, tracking $60M annualized savings.
- CFO Rik Powell departs effective immediately and leaves Nov 13, 2026; Scott Grossman named Interim CFO at $450,000 base salary.
- Subscribers fell to 890,000 from 1,060,000; paid downloads 90.9M vs 111.7M; cash $110.5M after $30.0M revolver repayment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1549346/000114036126042037/0001140361-26-042037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1549346/000114036126042037/ef20084945_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-042037

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer