Learn more at www.shutterstock.com and follow us on LinkedIn, Instagram, Twitter, Facebook and YouTube. New text-to-image diffusion model enables organizations to generate high-fidelity, trusted images SAN FRANCISCO and NEW YORK, June 12, 2024 /PRNewswire/ -- Databricks, the Data and AI company, and Shutterstock, Inc., a leading global creative platform, today announced Shutterstock ImageAI, Powered by Databricks, a text-to-image Generative AI model optimized for enterprise use. Built using the advanced cap ...

Shares of Shutterstock (SSTK) have gained 3.5% over the past four weeks to close the last trading session at $40.63, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $56.50 indicates a potential upside of 39.1%. The average comprises four short-term price targets ranging from a low of $41 to a high of $65, with a standard deviation of $11.36. While the lowest estimate indicates a ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies. Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, including tried-and-true valuation metric ...

Core Insights - Shutterstock Studios has achieved significant recognition in the industry, winning 15 Telly Awards, four Webby Honors, and a Webby Nomination for its innovative work in commercial storytelling [1][4][5] Group 1: Awards and Recognition - The Telly Awards honored Shutterstock Studios with multiple gold, silver, and bronze awards across various categories, including craft & editing, videography & cinematography, and social responsibility [3][4] - The Webby Awards recognized Shutterstock Studios in categories such as best video editing and best use of vertical video, with over 13,000 entries from more than 70 countries, placing its work in the top 10 percent [4][5] Group 2: Company Background and Leadership - Established in 2020, Shutterstock Studios is led by a team with experience from notable brands like VICE and Refinery29, positioning itself as a leader in both traditional and immersive production [5] - The company serves as a creative partner to major brands, including Amazon, L'Oréal, and Sony, showcasing its capability in delivering high-quality productions [5] Group 3: Future Initiatives and Technology - Shutterstock Studios is set to host an Immersive Showcase in New York City, demonstrating the power of virtual production and 3D modeling, with global experts leading keynotes and workshops [6] - The company will also participate in the Cannes Lions event to share insights on the application of new technologies in enhancing brand storytelling [6]

Shares of Shutterstock (SSTK) have gained 2.4% over the past four weeks to close the last trading session at $41.74, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $56.50 indicates a potential upside of 35.4%. The average comprises four short-term price targets ranging from a low of $41 to a high of $65, with a standard deviation of $11.36. While the lowest estimate indicates a ...

Shutterstock (SSTK) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Individua ...

Have you assessed how the international operations of Shutterstock (SSTK) performed in the quarter ended March 2024? For this online marketplace for royalty-free images and videos, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects.In the modern, closely-knit global economic landscape, the capacity of a business to access foreign markets is often a key determinant of its financial well-being and grow ...

Table of Contents FORM 10-Q ___________________________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35669 _____________________________________________________________________ SHUTT ...

Financial Data and Key Metrics Changes - Revenue for Q1 2024 was $214.3 million, exceeding expectations, while adjusted EBITDA was $56 million with margins of 26.1% [22][30][39] - Content revenue decreased by 10%, aligning with expectations, but the company anticipates a return to growth later in the year [22][30] - The company increased its dividend by 10% to $0.30 per share, marking the fourth consecutive year of double-digit increases [25] Business Line Data and Key Metrics Changes - Data distribution and services revenue surged by 90% in Q1, contributing almost 20% of total revenues [13][49] - The acquisition of Envato is expected to increase revenue from video, audio, and 3D content from 35% to 45% of total content revenue [19] - The average order value (AOV) for new customers increased significantly, with early orders averaging $50,000 and newer customers averaging between $200,000 to $400,000 [15] Market Data and Key Metrics Changes - Total traffic increased by 18% year-on-year, indicating successful SEO and marketing efforts [12] - The contributor base grew by over 40% to 3.4 million, while the library expanded by 34% to nearly 900 million assets [119] - The company is seeing strong demand from larger customers, while demand from small and medium-sized customers remains muted [117] Company Strategy and Development Direction - The company aims to reach $1.2 billion in revenue and $350 million in EBITDA by 2027, with the recent acquisition of Envato accelerating this path [3][56] - The focus is on expanding into faster-growing audiences and diversifying content types, particularly through the Envato acquisition [18][44] - The company is positioned to benefit from the increasing demand for ethically sourced datasets for AI training [41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the turnaround in the content business, with positive trends noted in small and medium business segments [73][91] - The company anticipates continued strong growth in data distribution and services, driven by regulatory changes and increased demand [49][64] - There is a belief that the company is well-positioned to execute its strategic roadmap and achieve long-term targets [30][48] Other Important Information - The company expects to close the Envato acquisition in Q3 2024, which will significantly impact its revenue base and subscriber count [20][55] - The company has secured a $375 million credit facility to support growth and acquisitions [53] Q&A Session Summary Question: Insights on guidance change with Envato acquisition - The company is incorporating Envato's expected contribution of 20% to revenues and 15% to EBITDA for the full year into its guidance [59] Question: Trends in the content business for April - Management noted positive trends in the content business, particularly in small and medium segments, and expects continued improvement [72][75] Question: Demand for data beyond LLMs - There is increasing demand for visual media as a critical component for training multimodal models, with strong interest from both new and existing customers [77][93] Question: Challenges in scaling Giphy business - The company is seeing high interest and increasing AOV, indicating a positive trend in the advertising model for Giphy [79] Question: Impact of Envato on data sales business - The acquisition is expected to diversify and enhance the data sales business by providing more content and meeting varied customer demands [89]

Execution Version SHARE PURCHASE AGREEMENT BY AND AMONG SHUTTERSTOCK AUS EMU PTY LTD, ENVATO PTY LTD, THE SHAREHOLDERS OF ENVATO PTY LTD, SHUTTERSTOCK, INC. Exhibit 2.1 AND THE SELLERS' REPRESENTATIVE Dated as of May 1, 2024 | | SECTION 1 DEFINITIONS AND INTERPRETATIONS | 1 | | --- | --- | --- | | 1.1 | Certain Definitions | 1 | | 1.2 | Interpretation | 29 | | | SECTION 2 DESCRIPTION OF TRANSACTION | 31 | | 2.1 | Share Purchase | 31 | | 2.2 | Consideration | 31 | | 2.3 | No Further Right of Transfers | 32 | ...