Shutterstock Inc
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 26, 2024
SSTK$2.96-0.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(In thousands, except per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue | $874,587 | $827,826 | $773,415 |
| Operating expenses: | |||
| Cost of revenue | 352,630 | 314,306 | 277,659 |
| Sales and marketing | 214,749 | 203,154 | 204,878 |
| Product development | 96,162 | 65,434 | 52,014 |
| General and administrative | 142,646 | 132,644 | 130,758 |
| Impairment of lease and related assets | — | 18,664 | — |
| Total operating expenses | 806,187 | 734,202 | 665,309 |
| Income from operations | 68,400 | 93,624 | 108,106 |
| Bargain purchase gain | 50,261 | — | — |
| Other income / (expense), net | 3,807 | (2,587) | (3,370) |
| Income before income taxes | 122,468 | 91,037 | 104,736 |
| Provision for income taxes | 12,199 | 14,934 | 12,853 |
| Net income | $110,269 | $76,103 | $91,883 |
| Earnings per share: | |||
| Basic | $3.07 | $2.11 | $2.52 |
| Diluted | $3.04 | $2.08 | $2.46 |
| Weighted average shares outstanding: | |||
| Basic | 35,878 | 36,042 | 36,509 |
| Diluted | 36,242 | 36,546 | 37,324 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.