Shutterstock Inc
For the period ended Jun 30, 2024. Filed Aug 6, 2024.
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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.
Jun 30, 2024 · Filed Aug 6, 2024
SSTK$2.96-0.3%Stored close · as of Nov 9, 2026
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Consolidated Statements of Operations
(In thousands, except for per share data)
| Three Months EndedJune 30, | Six Months EndedJune 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | $220,053 | $208,840 | $434,368 | $424,120 |
| Operating expenses: | ||||
| Cost of revenue | 91,254 | 84,416 | 179,458 | 162,579 |
| Sales and marketing | 51,881 | 48,392 | 108,117 | 95,919 |
| Product development | 19,859 | 29,218 | 40,910 | 44,624 |
| General and administrative | 36,393 | 38,099 | 68,471 | 71,914 |
| Total operating expenses | 199,387 | 200,125 | 396,956 | 375,036 |
| Income from operations | 20,666 | 8,715 | 37,412 | 49,084 |
| Bargain purchase gain | — | 41,940 | — | 41,940 |
| Other (expense) / income, net | (4,106) | 726 | (462) | 1,771 |
| Income before income taxes | 16,560 | 51,381 | 36,950 | 92,795 |
| Provision for income taxes | 12,935 | 1,368 | 17,204 | 9,939 |
| Net income | $3,625 | $50,013 | $19,746 | $82,856 |
| Earnings per share: | ||||
| Basic | $0.10 | $1.39 | $0.55 | $2.31 |
| Diluted | $0.10 | $1.37 | $0.55 | $2.27 |
| Weighted average common shares outstanding: | ||||
| Basic | 35,697 | 36,047 | 35,644 | 35,952 |
| Diluted | 35,982 | 36,406 | 36,023 | 36,490 |
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