Shutterstock, Inc. (SSTK) Financial Statements (2024 and earlier)

Company Profile

Business Address 350 FIFTH AVENUE
NEW YORK, NY 10118
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7374 - Computer Processing and Data Preparation and Processing Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments87,14695,832115,15476,24484,046258,112
Cash and cash equivalents87,14695,832115,15476,24484,046258,112
Receivables61,71548,30367,24952,71348,81644,774
Other undisclosed current assets124,55434,76533,26832,09530,39436,833
Total current assets:273,415178,900215,671161,052163,256339,719
Noncurrent Assets
Operating lease, right-of-use asset17,23316,81917,59332,94634,29332,935
Property, plant and equipment59,43456,60454,54855,14152,54950,206
Intangible assets, net (including goodwill)585,135550,447555,007552,421563,514336,035
Goodwill383,045382,640381,920379,505377,654219,176
Intangible assets, net (excluding goodwill)202,090167,807173,087172,916185,860116,859
Deferred income tax assets1,60917,71416,53312,3918,70911,559
Other noncurrent assets67,43522,03921,83226,22926,24725,524
Total noncurrent assets:730,846663,623665,513679,128685,312456,259
TOTAL ASSETS:1,004,261842,523881,184840,180848,568795,978
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities118,32680,58096,570141,189143,22481,339
Taxes payable23,70224,711
Employee-related liabilities30,32128,077
Accounts payable6,0957,7787,1836,4675,8897,208
Accrued liabilities112,23172,80289,38780,69984,54774,131
Deferred revenue207,483180,698187,070174,384178,353178,734
Debt30,000 50,00050,00050,000 
Other liabilities11,19511,14811,44512,54914,30913,997
Other undisclosed current liabilities40,56141,03638,649(18,049)(17,935)29,816
Total current liabilities:407,565313,462383,734360,073367,951303,886
Noncurrent Liabilities
Long-term debt and lease obligation:    35,87137,39735,857
Liabilities, other than long-term debt77,18952,52749,96813,65314,12711,812
Deferred income tax liabilities17,2554,7664,4653,4954,5922,517
Other liabilities26,55213,7449,89210,1589,5359,295
Operating lease, liability33,38234,01735,61135,87137,39735,857
Total noncurrent liabilities:77,18952,52749,96849,52451,52447,669
Total liabilities:484,754365,989433,702409,597419,475351,555
Equity
Equity, attributable to parent519,507476,534447,482430,583429,093444,423
Common stock398396396396395394
Treasury stock, value(204,008)(200,008)(200,008)(200,008)(183,800)(165,465)
Additional paid in capital402,728395,934391,482380,325370,934373,765
Accumulated other comprehensive loss(14,131)(14,020)(15,439)(22,720)(16,619)(11,674)
Retained earnings334,520294,232271,051272,590258,183247,403
Total equity:519,507476,534447,482430,583429,093444,423
TOTAL LIABILITIES AND EQUITY:1,004,261842,523881,184840,180848,568795,978

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues208,840215,280217,726204,096206,872199,132
Cost of revenue
(Cost of Goods and Services Sold)
(84,416)(78,163)(87,925)(79,911)(77,019)(69,451)
Gross profit:124,424137,117129,801124,185129,853129,681
Operating expenses(115,709)(96,748)(122,154)(95,500)(104,479)(97,763)
Operating income:8,71540,3697,64728,68525,37431,918
Nonoperating income (expense)42,6661,045862(1,546)(2,661)758
Investment income, nonoperating41,940     
Gain (loss), foreign currency transaction, before tax  1,1111,539(1,116)(2,495)734
Other nonoperating income72616514939 
Interest and debt expense(493)(231) (439)(205) 
Other undisclosed income from continuing operations before equity method investments, income taxes   645   
Income from continuing operations before equity method investments, income taxes:50,88841,1839,15426,70022,50832,676
Other undisclosed income (loss) from continuing operations before income taxes493231(645)439205 
Income from continuing operations before income taxes:51,38141,4148,50927,13922,71332,676
Income tax expense (benefit)(1,368)(8,571)(1,463)(4,099)(3,268)(6,104)
Income from continuing operations:50,01332,8437,04623,04019,44526,572
Income before gain (loss) on sale of properties:23,04019,44526,572
Net income available to common stockholders, diluted:50,01332,8437,04623,04019,44526,572

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:50,01332,8437,04623,04019,44526,572
Comprehensive income:50,01332,8437,04623,04019,44526,572
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(111)1,4197,281(6,101)(4,945)(886)
Comprehensive income, net of tax, attributable to parent:49,90234,26214,32716,93914,50025,686

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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