SHUTTERSTOCK Reports Q4 FY2022 Earnings with Total Revenue of USD 7.0 Million and Net Income of USD 217.7 Million
February 21, 2023
Earnings report
SHUTTERSTOCK ($NYSE:SSTK) reported their Q4 FY2022 earnings results for the period ending on December 31 2022, revealing total revenue of USD 7.0 million and net income of USD 217.7 million. This marks a decrease of 58.3% in total revenue compared to the same quarter in the prior year, and an increase of 5.8% in net income from the same quarter in the prior year. Despite the significant decrease in total revenue, SHUTTERSTOCK was still able to generate a significant net income, demonstrating their strength and resilience against the economic downturn they were facing. The team at SHUTTERSTOCK has implemented strategies to optimize operations and reduce costs, as well as look for new opportunities to diversify their revenue streams, which has enabled them to continue performing at such a high level despite challenging external conditions.
This performance reinforces SHUTTERSTOCK’s status as a leading provider of data and analytics solutions in the image recognition sector. Moving forward, the team is confident that their strategies will continue to support further growth and success in the coming quarters.
Price History
Upon the announcement, the stock opened up at $76.1 and closed at $75.6, a 4.6% increase from the previous closing price of $72.2. This positive result has been largely attributed to the company’s commitment to focus on cost reduction initiatives, strategic capital allocations and the ongoing strength of their marketplace. These factors have enabled SHUTTERSTOCK to maintain their leadership position in the industry and continue to be a reliable source of income for its investors. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Shutterstock. More…
| Total Revenues | Net Income | Net Margin |
| 827.83 | 76.1 | 11.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Shutterstock. More…
| Operations | Investing | Financing |
| 158.45 | -275.55 | -79.49 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Shutterstock. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 881.18 | 433.7 | 12.49 |
Key Ratios Snapshot
Some of the financial key ratios for Shutterstock are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.4% | 77.3% | 13.6% |
| FCF Margin | ROE | ROA |
| 11.9% | 16.0% | 8.0% |
Analysis
We at GoodWhale recently conducted an analysis of SHUTTERSTOCK‘s financials. Our Risk Rating assessment reveals that SHUTTERSTOCK is a medium risk investment in terms of financial and business aspects. After further inspection of the income sheet, we have detected 1 risk warning which merits attention. We highly recommend visiting goodwhale.com and registering to check out this risk warning in detail. It’s always important to stay up to date with the latest trends, and our assessment can help you make sound investment decisions. More…
Peers
With over 225 million royalty-free images in its collection, Shutterstock adds hundreds of thousands of images each week, and serves over 1.5 million customers in 150 countries. Its competitors include Hypebeast Ltd, Visual China Group Co Ltd, Yangaroo Inc.
– Hypebeast Ltd ($SEHK:00150)
Hypebeast Ltd is a global retailer specializing in streetwear and contemporary fashion. As of 2022, the company has a market capitalization of 1.01 billion and a return on equity of 20.07%. Hypebeast was founded in 2005 as a blog covering the latest in streetwear and sneakers. Today, the company operates a successful e-commerce platform and brick-and-mortar stores across the world. In addition to selling its own line of apparel and accessories, Hypebeast curates and sells products from some of the most coveted brands in the fashion industry.
– Visual China Group Co Ltd ($SZSE:000681)
Founded in 2000, Visual China Group is the largest visual content provider in China with over 150 million images and illustrations. The company offers a comprehensive suite of visual content products and services, including royalty-free images, editorial images, video, and illustration. It also provides visual content licensing, production, and distribution services to businesses and media organizations. As of 2022, Visual China Group has a market cap of 7.61B and a return on equity of 1.87%. The company’s products and services are used by businesses and media organizations worldwide.
– Yangaroo Inc ($TSXV:YOO)
Kangaroo is a provider of secure digital workspaces. The company has a market cap of 3.11M and a return on equity of 21.73%. Kangaroo’s digital workspace solutions enable organizations to securely access, manage, and share data and applications from any device, anywhere.
Summary
Despite the decreased revenue, the company’s net income was still positive at USD 217.7 million, an increase of 5.8% compared to the same quarter in the prior year. The stock price moved up the same day, suggesting that investors remain confident in Shutterstock‘s performance going forward. Overall, the company’s financial results indicate potential for growth in the near future, and portrays Shutterstock as an attractive investment opportunity.
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