Shutterstock Inc
For the period ended Sep 30, 2024. Filed Oct 29, 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.
Sep 30, 2024 · Filed Oct 29, 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 EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | $250,588 | $233,248 | $684,956 | $657,368 |
| Operating expenses: | ||||
| Cost of revenue | 104,405 | 94,219 | 283,863 | 256,798 |
| Sales and marketing | 55,403 | 56,165 | 163,520 | 152,084 |
| Product development | 28,610 | 28,098 | 69,520 | 72,722 |
| General and administrative | 44,021 | 37,574 | 112,492 | 109,488 |
| Total operating expenses | 232,439 | 216,056 | 629,395 | 591,092 |
| Income from operations | 18,149 | 17,192 | 55,561 | 66,276 |
| Bargain purchase gain | — | 9,864 | — | 51,804 |
| Interest expense | (4,451) | (562) | (5,574) | (1,286) |
| Other income, net | 3,829 | 1,119 | 4,490 | 3,614 |
| Income before income taxes | 17,527 | 27,613 | 54,477 | 120,408 |
| (Benefit) / Provision for income taxes | (88) | (806) | 17,116 | 9,133 |
| Net income | $17,615 | $28,419 | $37,361 | $111,275 |
| Earnings per share: | ||||
| Basic | $0.50 | $0.79 | $1.05 | $3.10 |
| Diluted | $0.50 | $0.79 | $1.04 | $3.06 |
| Weighted average common shares outstanding: | ||||
| Basic | 35,174 | 35,912 | 35,486 | 35,938 |
| Diluted | 35,472 | 36,081 | 35,838 | 36,352 |
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