---
schema_version: "secwatch.filing_event.v1"
accession: "0001549346-23-000020"
form_type: "8-K"
ticker: "SSTK"
cik: "0001549346"
company_name: "Shutterstock, Inc."
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T16:14:59.873561+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Shutterstock Q1 revenue up 8% to $215.3M; record Adj. EBITDA; raises FY2023 guidance

## Summary
- Revenue $215.3M (+8% YoY, +10% constant currency); net income $32.8M (+24%).
- Adjusted EBITDA $69.8M (record, +27% YoY); margin 32.4% (+490 bps).
- GAAP EPS $0.90; adjusted EPS $1.29; both up YoY.
- Enterprise revenue $95.5M (+33%) driven by data partnerships and Studios; E-commerce $119.8M (-6%).
- FY2023 guidance raised: revenue $844-853M, Adj. EBITDA $227-231M, Adj. EPS $4.00-4.10.

## SEC filing metadata
- accession: 0001549346-23-000020
- form_type: 8-K
- ticker: SSTK
- cik: 0001549346
- company_name: Shutterstock, Inc.
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1549346/000154934623000020/0001549346-23-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1549346/000154934623000020/sstk-20230425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001549346-23-000020
- JSON: https://secwatch.observer/filing/0001549346-23-000020.json
- Plain text: https://secwatch.observer/filing/0001549346-23-000020.txt

## Key facts
- Earnings Releases
  Shutterstock, Inc. reported first quarter ended March 31, 2023 results: revenue $215.3 million, net income $32.8 million, EPS $0.90.
  - Period: first quarter ended March 31, 2023
  - Revenue: $215.3 million
  - Net income: $32.8 million
  - EPS: $0.90
  - Result: reported results
  source text: Financial Highlights • Revenue increased 8% to $215.3 million. On a constant currency basis, revenue increased 10%. • Income from operations increased 26% to $40.4 million. • Net income increased 24% to $32.8 million. • Adjusted EBITDA increased 27% to $69.8 million. • Net income per diluted share increased $0.19 to $0.90. • Adjusted net income per diluted share increased $0.29 to $1.29. • Operating cash flows increased $44.1 million to $66.8 million. • Free cash flow increased $40.7 million to $50.9 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1549346/000154934623000020/0001549346-23-000020-index.htm
- Earnings Releases
  Shutterstock, Inc. updated its full year 2023 guidance (raised).
  - Period: full year 2023
  - Guidance: raised
  - Result: guidance update
  source text: We integrated generative AI into our offering and also concluded landmark data partnerships with some of the largest companies in the world. Our investments are paying tangible dividends, as demonstrated by record Adjusted EBITDA in the first quarter and increased guidance for the full year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1549346/000154934623000020/0001549346-23-000020-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.