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GETYQ — Getty Images Holdings News Story

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Getty Images Q2 revenue falls on Agency and iStock segment pressure; withdraws guidance

Getty Images Q2 revenue falls on Agency and iStock segment pressure; withdraws guidance


Overview

  • US visual content marketplace's Q2 revenue fell 2.5% yr/yr to $229.1 mln

  • Adjusted EPS for Q2 was negative, with adjusted EBITDA down 8.4% yr/yr

  • Company withdrew financial guidance amid review of strategic financing alternatives


Outlook

  • Getty Images has withdrawn financial guidance due to ongoing evaluation of strategic financing alternatives


Result Drivers

  • AGENCY AND ISTOCK HEADWINDS - Co said continued pressure in Agency and iStock e-commerce segments weighed on results

  • ENTERPRISE RESILIENCE - Co said enterprise customer segment showed resilience and growth despite broader revenue decline

  • SHIFT TO SUBSCRIPTIONS - Annual subscription revenue grew to 58.8% of total, up from 53.5% a year ago


Company press release: ID:nGNX2KX3d3


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Revenue

$229.1 mln

$237.29 mln (2 Analysts)

Q2 Adjusted EPS

-$0.05

$0.02 (2 Analysts)

Q2 Net Loss

$85.8 mln

Q2 Adjusted EBITDA

$62.3 mln

$70.95 mln (2 Analysts)

Q2 Adjusted EBITDA Margin

27.2%


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the online services peer group is "buy"

  • Wall Street's median 12-month price target for Getty Images Holdings Inc is $3.93, about 798.6% above its August 7 closing price of $0.44


Reuters Recommended Reads

  • Aug 10 - Latch Q2 software revenue rises on expanding platform adoption

  • Aug 10 - Intelligence platform Phunware Q2 revenue rises on contract termination

  • Aug 10 - Business process solutions firm Conduent Q2 revenue slips


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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