Shutterstock FY2023 revenue up 6% to $874.6M; Q4 net loss of $1.0M; 2024 guidance flat

Shutterstock, Inc.

2023-FY EPS reported $3.04 revenue$874,587,000

FY2023 revenue $874.6M (+6% YoY); net income $110.3M (+45%); adjusted EBITDA $240.8M (+10%).
Q4 2023 revenue $217.2M (flat YoY); net loss $1.0M vs net income $7.0M a year ago.
Content revenue fell 7% for FY2023; Data, Distribution & Services revenue surged 256% to $137.3M.
Dividend raised to $0.30/share (payable March 14, 2024); 2027 targets: $1.2B revenue, 28-30% EBITDA margin.
2024 guidance: revenue $875M, adjusted EBITDA $241M, adjusted EPS $4.15-$4.30; subscriber count fell to 523K from 586K.

item 2.02 item 7.01 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

Shutterstock, Inc. reported the fourth quarter ended December 31, 2023 results: revenue $217.2 million, net income $1.0 million net loss, EPS ($0.03).

Period: the fourth quarter ended December 31, 2023
Revenue: $217.2 million
Net income: $1.0 million net loss
EPS: ($0.03)
Result: reported results

Exact text from the filing

Fourth Quarter 2023 highlights as compared to Fourth Quarter 2022: Financial Highlights • Revenues decreased $0.5 million to $217.2 million. • Income from operations decreased 72% to $2.1 million. • Net income / (loss) decreased 114% to a $1.0 million net loss.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Shutterstock, Inc. reported the fiscal period ended December 31, 2023 results: revenue $874.6 million, net income $110.3 million, EPS $3.04 per share.

Period: the fiscal period ended December 31, 2023
Revenue: $874.6 million
Net income: $110.3 million
EPS: $3.04 per share
Result: reported results

Exact text from the filing

pleased to announce Shutterstock’s 2027 long-term financial targets.” Full Year 2023 highlights as compared to Full Year 2022: Financial Highlights • Revenue increased 6% to $874.6 million. On a constant currency basis, revenue increased 5%. • Income from operations decreased 27% to $68.4 million. • Net income increased 45% to $110.3 million. • Adjusted EBITDA

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Source: SEC EDGAR

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