secwatch.observer — SEC 8-K summary
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Issuer:     Shutterstock, Inc. (SSTK)
CIK:        0001549346
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001549346-23-000032
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shutterstock Q2 revenue up 1% to $208.8M; raises FY2023 guidance on top and bottom line
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- Net income $50.0M (diluted EPS $1.37) vs $19.4M in Q2 2022; includes $41.9M bargain purchase gain from GIPHY.
- Adjusted EBITDA $60.1M (+23% YoY); margin 28.8% vs 23.7%.
- Full year 2023 guidance raised: revenue $852-869M (3-5% growth); adj. EBITDA $227-235M; adj. EPS $4.00-4.17.
- Enterprise revenue up 22% to $96.9M, driven by $17.3M from computer vision data partnerships (vs $2.2M).
- Quarterly cash dividend declared $0.27 per share, payable Sept 14, record Aug 31.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1549346/000154934623000032/0001549346-23-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1549346/000154934623000032/sstk-20230801.htm
  HTML page:      https://secwatch.observer/filing/0001549346-23-000032

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