SSTK Shutterstock, Inc.

Overview and Growth

In fiscal 2025, Shutterstock, Inc. recorded $989.92M of revenue, net income of $45.50M, and an operating cash inflow of $166.69M. Revenue of $989.92M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 5.8% above fiscal 2024 revenue of $935.26M, marking a year-over-year increase. On a per-share basis, diluted EPS was $1.25, which connects the reported earnings outcome with the company’s diluted share count. Diluted EPS increased by 23.8% from $1.01 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. The revenue-to-assets relationship was 0.73x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

After reported cost of revenue, the company retained $583.08M as gross profit before recognizing operating expenses and other items. Gross margin was 58.9%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced $75.06M of income after the reported operating expense base, before the remaining non-operating and tax effects. Relative to revenue, operating income represented 7.6%, showing how efficiently sales converted into operating profit. After all reported below-operating-line items, the company recorded net income of $45.50M for the fiscal year. Measured against reported revenue, net income produced a 4.6% margin after operating costs and the remaining recognized items. Before income taxes, the company reported $75.33M of earnings, providing a bridge between the operating result and final net income. Pretax income represented 7.6% of revenue, placing earnings before tax in the context of the company’s operating scale. The company recognized $29.84M of income tax for the period, completing the transition from pretax income to net income. The income-tax provision equaled 39.6% of pretax income, showing the tax burden absorbed by the year’s earnings.

Liquidity and Capital Structure

At period end, the $1.36B asset base was financed through $774.90M of liabilities and $581.04M of equity. The near-term balance sheet paired $338.64M of current assets with $628.40M of current liabilities at the reporting date. The current ratio was 0.54x; current liabilities exceeded current assets, leaving a short-term liquidity deficit. Reported cash and equivalents were $178.24M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 28.4% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The company carried $274.75M of total debt at period end, which frames its leverage and debt-service burden. Debt equaled 0.47x of book equity, describing the relative scale of borrowing and shareholder capital. The debt-to-assets relationship was 20.3%, comparing borrowing with the total asset balance. Relative to total assets, liabilities measured 57.1%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 13.1%, a balance-sheet composition measure rather than a liquidity forecast.

Cash Flow and Earnings Quality

Cash flow from operations was $166.69M, a reported cash inflow that can be compared directly with net income and capital spending. The operating-cash-flow-to-net-income relationship was 3.66x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $42.86M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 25.7%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $123.83M of positive free cash flow for the period. The free-cash-flow margin was 12.5%, measuring cash remaining after capital spending against revenue. Measured against total assets, free cash flow represented 9.1%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.