Shutterstock Reports Second Quarter 2026 Financial Results
Key Highlights
- ➤Q2 revenue $221.8 million, down 17% from $267.0 million year over year.
- ➤Adjusted EPS $0.82 versus $1.19 year over year; adjusted EBITDA $65.1 million, down 21%.
- ➤GAAP net loss $155.9 million versus $29.4 million net income; loss per share $4.25 versus $0.82 income.
- ➤$173.7 million non-cash goodwill impairment followed announcement of the terminated merger agreement.
- ➤2026 guidance withdrawn; Shutterstock (SSTK) canceled its August 6 conference call pending strategic update.
- ➤Over $70 million annualized run-rate cost reductions achieved; targeting an additional $60 million by year-end.
- ➤Cash and equivalents fell to $133.2 million; quarter included $35.0 million FTC settlement payment.
- ➤Subscribers fell to 951,000 from 1.073 million; paid downloads declined to 98.7 million from 112.6 million.
Expert Statements
Rik Powell, Interim Chief Executive Officer and Chief Financial Officer of Shutterstock (SSTK)
“Following the termination of our proposed merger, we have moved quickly to strengthen our balance sheet, reduce our cost structure, and sharpen our focus on the areas with the greatest potential and are approaching every aspect of the business with discipline and urgency.”
Rik Powell, Interim Chief Executive Officer and Chief Financial Officer of Shutterstock (SSTK)
“We have taken significant cost actions over the past 18 months that equate to over $70 million of annualized run-rate operating expense reductions and are targeting an additional $60 million in annualized run-rate operating expense reductions by the end of the year.”
Rik Powell, Interim Chief Executive Officer and Chief Financial Officer of Shutterstock (SSTK)
“These actions will give us greater optionality in our capital allocation strategy.”
Rik Powell, Interim Chief Executive Officer and Chief Financial Officer of Shutterstock (SSTK)
“While we recognize the challenges in front of us, Shutterstock remains a company with meaningful strategic assets, including a globally recognized brand, one of the world’s largest and most diverse commercially licensed content libraries, a differentiated Data and AI Services business, our unique GIPHY platform, and strong cash generation.”
Rik Powell, Interim Chief Executive Officer and Chief Financial Officer of Shutterstock (SSTK)
“Together, these strengths provide a solid foundation as we refine our long-term strategy and position the business for its next phase of growth which we look forward to discussing in the coming weeks.”
NEW YORK, Aug. 4, 2026 /PRNewswire/ -- Shutterstock, Inc. (NYSE: SSTK) (the "Company"), a family of brands delivering scalable creative and GenAI solutions to help customers fuel great work, today announced financial results for the second quarter ended June 30, 2026.
Commenting on the Company's performance, Rik Powell, the Company's Interim Chief Executive Officer and Chief Financial Officer, said, "Following the termination of our proposed merger, we have moved quickly to strengthen our balance sheet, reduce our cost structure, and sharpen our focus on the areas with the greatest potential and are approaching every aspect of the business with discipline and urgency. We have taken significant cost actions over the past 18 months that equate to over $70 million of annualized run-rate operating expense reductions and are targeting an additional $60 million in annualized run-rate operating expense reductions by the end of the year. These actions will give us greater optionality in our capital allocation strategy."
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