Shutterstock Inc
For the period ended Mar 31, 2024. Filed May 2, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
SSTK$2.83-4.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $16,121 | $32,843 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 21,263 | 18,896 |
| Deferred taxes | (3,854) | (977) |
| Non-cash equity-based compensation | 11,150 | 8,643 |
| Bad debt expense | (1,510) | 790 |
| Unrealized gain on investments | (3,755) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (736) | 19,168 |
| Prepaid expenses and other current and non-current assets | (11,999) | 5,189 |
| Accounts payable and other current and non-current liabilities | (20,182) | (12,716) |
| Contributor royalties payable | 6,127 | 2,246 |
| Deferred revenue | (4,325) | (7,307) |
| Net cash provided by operating activities | $8,300 | $66,775 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Capital expenditures | (14,461) | (12,380) |
| Business combination, net of cash acquired | (19,474) | — |
| Cash received related to Giphy Retention Compensation | 18,401 | — |
| Acquisition of content | (994) | (3,527) |
| Security deposit payment | — | (30) |
| Net cash used in investing activities | $(16,528) | $(15,937) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from exercise of stock options | — | 3 |
| Cash paid related to settlement of employee taxes related to RSU vesting | (7,966) | (11,008) |
| Payment of cash dividends | (10,663) | (9,662) |
| Repayment of credit facility | — | (50,000) |
| Net cash used in financing activities | $(18,629) | $(70,667) |
| Effect of foreign exchange rate changes on cash | (1,822) | 507 |
| Net decrease in cash and cash equivalents | (28,679) | (19,322) |
| Cash and cash equivalents, beginning of period | 100,490 | 115,154 |
| Cash and cash equivalents, end of period | $71,811 | $95,832 |
| Supplemental Disclosure of Cash Information: | ||
| Cash paid / (received) for income taxes | $2,901 | $(5,150) |
| Cash paid for interest | 509 | 428 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.