TLDR: Shutterstock, Inc. (NYSE: SSTK) announced exceptional financial results for the second quarter of 2025, reporting record revenue of $267 million, a 21% increase year-over-year. Net income surged to $29.4 million, up from $3.6 million in Q2 2024, while adjusted EBITDA grew 32% to $82.2 million. The company’s subscriber base more than doubled, largely driven by the acquisition of Envato.
NEW YORK – Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform, has reported a robust financial performance for the second quarter ended June 30, 2025, setting new company records for both revenue and adjusted EBITDA. The company announced total revenues of $267.0 million, marking a significant 21% increase compared to $220.1 million in the second quarter of 2024. This performance surpassed market expectations, with sales exceeding analyst estimates by 7.5% .
Net income for the quarter soared to $29.4 million, a remarkable increase from $3.6 million in the same period last year, representing a 717% surge . Diluted net income per common share reached $0.82, up from $0.10 in Q2 2024. Adjusted net income also saw substantial growth, rising to $42.9 million from $35.9 million in the prior year, with adjusted net income per diluted common share at $1.19, beating analyst estimates of $1.13 .
Adjusted EBITDA reached a record $82.2 million, a 32% increase from $62.1 million in Q2 2024, with a margin expansion to 30.8% . Paul Hennessy, Shutterstock’s Chief Executive Officer, commented on the results, stating, ‘I am pleased to report that Shutterstock set new high water marks in the second quarter, achieving record levels in both Revenue and Adjusted EBITDA. Our complete suite of offerings, from creative content to custom creative solutions to AI model inputs to our GIPHY distribution is now more than ever enabling us to fuel great work for our customers.’
The Content product offering was a significant driver of growth, with revenue increasing by 18% to $199.8 million, accounting for 75% of total revenue. The acquisition of Envato in July 2024 played a crucial role in this year-over-year increase . The Data, Distribution, and Services segment also demonstrated strong performance, with revenue growing by 34% to $67.2 million, representing 25% of the second quarter’s total revenue .
Shutterstock’s subscriber base more than doubled, reaching 1,073,000 from 490,000 a year ago, primarily due to the Envato acquisition . Paid downloads also saw a substantial increase, rising by 79.2 million year-over-year to 112.6 million . Despite the growth in subscribers, the average revenue per customer saw a decline from $434 to $266, indicating a broader base of lower-spending customers from the Envato integration .
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The company maintained its commitment to shareholders by declaring and paying a cash dividend of $0.33 per common share, totaling $11.6 million . Shutterstock’s balance sheet remains robust with $116.4 million in cash reserves, even amidst ongoing merger preparations with Getty Images, which incurred $8.7 million in professional fees during the quarter .
