Core Insights - Shutterstock achieved record-setting revenue and adjusted EBITDA in 2025, with revenue growth of 6% driven by double-digit growth in the Data, Distribution, and Services business [1] - The company plans to simplify its Core Content business and invest in specialized AI services while working on the pending merger with Getty Images [1] Full Year 2025 Financial Highlights - Adjusted EBITDA increased to $271.8 million from $247.1 million, representing a 10% growth [1] - Revenue reached $989.9 million, up $54.7 million or 6% compared to 2024 [1] - Net income rose to $45.5 million from $35.9 million, with net income per diluted share increasing to $1.25 from $1.01 [1] Fourth Quarter 2025 Financial Highlights - Fourth quarter revenue decreased to $220.2 million, down 12% from $250.3 million in Q4 2024 [1] - Adjusted EBITDA for Q4 was $46.8 million, a decrease of 21% compared to $59.1 million in Q4 2024 [1] - The company reported a net loss of $16.0 million in Q4, compared to a net loss of $1.4 million in the same quarter of 2024 [1] Revenue Breakdown - Content revenue for the full year was $786.7 million, a 4% increase from 2024, representing 79% of total revenue [1] - Data, Distribution, and Services revenue grew by 16% to $203.3 million, accounting for 21% of total revenue [1] Cash Flow and Liquidity - Cash and cash equivalents increased by $66.9 million to $178.2 million by the end of 2025 [1] - Adjusted free cash flow for 2025 was $149.5 million, an increase of $40.8 million from 2024 [1] Merger with Getty Images - The company is actively working with Getty Images and regulatory authorities to secure necessary approvals for the merger [1]