Shutterstock Inc
For the period ended Sep 30, 2024. Filed Oct 29, 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.
Sep 30, 2024 · Filed Oct 29, 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
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $37,361 | $111,275 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 64,339 | 59,373 |
| Deferred taxes | (8,766) | (20,960) |
| Non-cash equity-based compensation | 41,220 | 36,589 |
| Bad debt expense | (1,790) | 1,394 |
| Bargain purchase gain | — | (51,804) |
| Unrealized gain on investments, net | (1,688) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 8,595 | (18,641) |
| Prepaid expenses and other current and non-current assets | (19,907) | (42,167) |
| Accounts payable and other current and non-current liabilities | (47,433) | 3,893 |
| Envato Seller Obligations | (45,748) | — |
| Contributor royalties payable | 22,626 | 11,281 |
| Deferred revenue | (24,129) | 16,370 |
| Net cash provided by operating activities | $24,680 | $106,603 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Capital expenditures | (38,297) | (34,715) |
| Business combinations, net of cash acquired | (179,071) | (53,721) |
| Cash received related to Giphy Retention Compensation | 63,444 | 34,707 |
| Acquisition of content | (2,473) | (9,725) |
| Security deposit payment | 277 | 1,539 |
| Net cash used in investing activities | $(156,120) | $(61,915) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Repurchase of treasury shares | (41,591) | (19,004) |
| Proceeds from exercise of stock options | — | 2 |
| Cash paid related to settlement of employee taxes related to RSU vesting | (11,715) | (15,209) |
| Payment of cash dividends | (31,938) | (29,023) |
| Proceeds from credit facility | 280,000 | 30,000 |
| Repayment of credit facility | (30,000) | (50,000) |
| Payment of debt issuance costs | (2,200) | — |
| Net cash provided by / (used in) financing activities | $162,556 | $(83,234) |
| Effect of foreign exchange rate changes on cash | (213) | (1,380) |
| Net increase / (decrease) in cash and cash equivalents | 30,903 | (39,926) |
| Cash and cash equivalents, beginning of period | 100,490 | 115,154 |
| Cash and cash equivalents, end of period | $131,393 | $75,228 |
| Supplemental Disclosure of Cash Information: | ||
| Cash paid for income taxes | $22,295 | $15,970 |
| Cash paid for interest | 2,955 | 1,232 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.