SHUTTERSTOCK, INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $989.9M | $935.3M | $874.6M | $827.8M | $773.4M | $666.7M | $650.5M | $623.3M |
| Cost of Revenue | $406.8M | $396.3M | $352.6M | $314.3M | $277.7M | $259.6M | $278.2M | $267.7M |
| Gross Profit | $583.1M | $539.0M | $522.0M | $513.5M | $495.8M | $407.1M | $372.3M | $355.6M |
| Gross Margin | 58.9% | 57.6% | 59.7% | 62.0% | 64.1% | 61.1% | 57.2% | 57.1% |
| Operating Expenses | ||||||||
| Research & Development | $89.0M | $88.4M | $96.2M | $65.4M | $52.0M | $46.0M | $57.2M | $58.9M |
| SG&A Expense | $198.0M | $159.1M | $142.6M | $132.6M | $130.8M | $116.6M | $113.2M | $97.8M |
| Operating Income | $75.1M | $68.7M | $68.4M | $93.6M | $108.1M | $85.3M | $20.2M | $32.5M |
| Operating Margin | 7.6% | 7.3% | 7.8% | 11.3% | 14.0% | 12.8% | 3.1% | 5.2% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $75.3M | $62.5M | $122.5M | $91.0M | $104.7M | $89.5M | $24.9M | $66.1M |
| Income Tax Expense | $29.8M | $26.6M | $12.2M | $14.9M | $12.9M | $17.8M | $4.8M | $11.4M |
| Net Income | $45.5M | $35.9M | $110.3M | $76.1M | $91.9M | $71.8M | $20.1M | $54.7M |
| Net Margin | 4.6% | 3.8% | 12.6% | 9.2% | 11.9% | 10.8% | 3.1% | 8.8% |
| EPS (Basic) | $1.29 | $1.02 | $3.07 | $2.11 | $2.52 | $2.00 | $0.57 | $1.57 |
| EPS (Diluted) | $1.25 | $1.01 | $3.04 | $2.08 | $2.46 | $1.97 | $0.57 | $1.54 |
| Shares Outstanding (Basic) | 35.3M | 35.3M | 35.9M | 36.0M | 36.5M | 35.8M | 35.3M | 34.9M |
| Shares Outstanding (Diluted) | 36.3M | 35.7M | 36.2M | 36.5M | 37.3M | 36.4M | 35.6M | 35.4M |
| Dividends Per Share | $1.32 | $1.20 | $1.08 | $0.96 | $0.84 | $0.68 | — | — |