Shutterstock Q2 revenue falls on weak customer acquisition
SSTK•Q2 results
Shutterstock said second-quarter revenue fell 17% year over year, driven by weak new customer acquisition.
Adjusted EPS and adjusted EBITDA also declined year over year, reflecting lower revenue.
The company posted a net loss due to a large goodwill impairment after merger termination.
| Metric | Actual |
|---|---|
| Q2 Revenue | $221.80 mln |
| Q2 Adjusted EPS | $0.82 |
| Q2 Net Loss | $155.90 mln |
| Q2 Adjusted EBITDA | $65.10 mln |
Outlook and drivers
The company said it will not issue guidance for the remainder of 2026 due to a pending strategic update.
Weak new customer acquisition - The company said lower Content revenue was primarily driven by weakness in new customer acquisition.
Declining data and services revenue - Data, Distribution, and Services revenue fell due to variability in timing of metadata license deliveries.
Cost reduction actions - The company said it has taken significant cost actions, targeting $130 million in annualized operating expense reductions by year-end.
