Getty Images posted a Q2 net loss of $85.8 million, widening from $34.4 million a year earlier, as revenue fell 2.5% to $229.1 million.
Operating income slipped 9% to $32.4 million, while interest expense climbed 56.8% to $57.3 million.
GAAP free cash flow dropped to negative $122.6 million from negative $9.6 million, driven by $110.9 million in litigation-judgment payments and higher cash interest.
Business mix and financing developments
Annual subscription revenue rose to 58.8% of total revenue from 53.5%, amid pressure in Agency and iStock e-commerce while enterprise demand stayed resilient.
Getty Images terminated its Shutterstock merger agreement in July.
$628.4 million of 10.5% Senior Secured Notes were redeemed at par, and guidance was withdrawn.
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