Shutterstock Q2 revenue falls on weak customer acquisition
Shutterstock Q2 revenue falls on weak customer acquisition
Overview
US stock image platform's Q2 revenue fell 17% yr/yr, driven by weak new customer acquisition
Adjusted EPS and adjusted EBITDA declined yr/yr, reflecting lower revenue
Company posted a net loss due to a large goodwill impairment after merger termination
Outlook
Company will not issue guidance for the remainder of 2026 due to pending strategic update
Result Drivers
WEAK NEW CUSTOMER ACQUISITION - Co said lower Content revenue was primarily driven by weakness in new customer acquisition
DECLINING DATA AND SERVICES REVENUE - Data, Distribution, and Services revenue fell due to variability in timing of metadata license deliveries
COST REDUCTION ACTIONS - Co said it has taken significant cost actions, targeting $130 mln in annualized operating expense reductions by year-end
Company press release: ID:nPn3jpMLBa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $221.80 mln |
|
Q2 Adjusted EPS |
| $0.82 |
|
Q2 Net Loss |
| $155.90 mln |
|
Q2 Adjusted EBITDA |
| $65.10 mln |
|
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(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.)