Quarterly ResultAug 5, 2026, 06:07 AM
Shutterstock Q2 Net Loss $155.9M; Revenue Down 17%
AI Summary
Shutterstock, Inc. reported a substantial net loss of $155.9 million, or $4.25 per diluted share, for the second quarter of 2026, a sharp decline from net income in the prior year. This loss was primarily driven by a $163.4 million non-cash goodwill impairment charge and a 17% decrease in revenues to $221.8 million. The company is implementing significant cost reductions, having achieved $70 million in annualized savings and targeting an additional $60 million by year-end, while also announcing the cancellation of its Q2 earnings conference call and full-year guidance due to a pending strategic update.
Key Highlights
- Reported a net loss of $155.9 million for Q2 2026, compared to net income of $29.4 million in Q2 2025.
- Net loss per diluted common share was $4.25, a significant decrease from net income of $0.82 in Q2 2025.
- Revenues decreased by 17% to $221.8 million in Q2 2026 from $267.0 million in Q2 2025.
- Includes a non-cash goodwill impairment charge of $163.4 million after-tax, following a terminated merger agreement.
- Adjusted EBITDA decreased by 21% to $65.1 million in Q2 2026 from $82.2 million in Q2 2025.
- Announced $70 million in annualized run-rate operating expense reductions over 18 months, targeting an additional $60 million by year-end.
- Subscribers decreased to 951,000 at June 30, 2026, from 1,073,000 at June 30, 2025.
- Paid $35.0 million for the settlement of the FTC's civil investigative demand.
Price Impact
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