Getty Images Q1 revenue down 5.7% to $222.3M; subscribers up 79% to 262K

Getty Images Holdings, Inc.

2024-Q1 EPS reported $0.03 revenue$222,278,000

Revenue $222.3M (-5.7% YoY); creative $138.9M (-5.2%), editorial $79.4M (-6.2%).
Net income $13.6M (vs $3.2M Q1'23) incl. $16.4M unrealized gain; Adjusted EBITDA $70.2M (-7.9%).
Active annual subscribers rose 79% to 262,000; annual subscription revenue now 55.4% of total (up from 50.7%).
Reaffirms 2024 outlook for return to topline growth; after Q1 made $30M voluntary debt repayment.
Cash $134.2M, revolver undrawn $150M; total debt $1.386B after € term loan FX fair value adjustment.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Getty Images Holdings, Inc. reported first quarter ended March 31, 2024 results: revenue $222.3 million, net income $13.6 million. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $222.3 million
Net income: $13.6 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

We are confident in our ability to return to topline growth in 2024 as our headwinds turn to tailwinds.” First Quarter 2024 Financial Summary: • Revenue for the period was $222.3 million , a decrease of 5.7% year-over-year on both a reported and currency neutral basis. • Creative revenue was $138.9 million , a decrease of 5.2% year-over-year on both a reported

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Source: SEC EDGAR

accession 0001628280-24-022221

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