Getty Images Q4 Revenue Up 14.1%, Adjusted EBITDA Margin Hits 36.9%
Getty Images reported Q4 revenue of $282.3 million, up 14.1% year-over-year (12.7% currency-neutral), and delivered record full-year revenue of $981.3 million, up 4.5% (3.8% currency-neutral). Adjusted EBITDA reached $104.1 million in Q4 (36.9% margin) and $320.9 million for the year (32.7% margin), exceeding guidance.
1. Record Revenue Growth
Getty Images generated Q4 revenue of $282.3 million, marking a 14.1% increase year-over-year (12.7% currency-neutral). Full-year revenue reached $981.3 million, up 4.5% year-over-year (3.8% on a currency-neutral basis), setting a new annual record.
2. Strong EBITDA Performance
Adjusted EBITDA for Q4 rose 29.1% to $104.1 million, delivering a 36.9% margin that surpassed the company’s targets. Full-year adjusted EBITDA totaled $320.9 million with a 32.7% margin, exceeding the high end of prior guidance.
3. Segment Trends and Licensing Agreements
Creative revenue in Q4 was $149 million, up 4.6%, while editorial revenue climbed 21.4% to $109.4 million. Other revenue totaled $23.9 million, a $9.1 million increase, and the company secured two multi-year licensing agreements and renewed partnerships with organizations such as AFP, NASCAR and the NHL.
4. Cash Flow and Leverage Pressures
Free cash flow in Q4 fell to $7.7 million from $24.6 million a year ago, with full-year free cash flow down to $5.7 million from $60.9 million. SG&A expenses were $111.6 million (39.5% of Q4 revenue), capex totaled $13 million (4.6% of revenue), and net leverage rose to 4.0x with $2.01 billion of debt outstanding.