Shutterstock Inc
NYSE:SSTK
Income Statement
Earnings Waterfall
Shutterstock Inc
Revenue
|
874.6m
USD
|
Cost of Revenue
|
-352.6m
USD
|
Gross Profit
|
522m
USD
|
Operating Expenses
|
-453.6m
USD
|
Operating Income
|
68.4m
USD
|
Other Expenses
|
41.9m
USD
|
Net Income
|
110.3m
USD
|
Income Statement
Shutterstock Inc
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
236
N/A
|
257
+9%
|
281
+9%
|
305
+9%
|
328
+8%
|
353
+8%
|
377
+7%
|
400
+6%
|
425
+6%
|
444
+5%
|
464
+5%
|
480
+3%
|
494
+3%
|
508
+3%
|
518
+2%
|
536
+3%
|
557
+4%
|
580
+4%
|
603
+4%
|
613
+2%
|
623
+2%
|
634
+2%
|
639
+1%
|
646
+1%
|
651
+1%
|
649
0%
|
646
0%
|
652
+1%
|
667
+2%
|
689
+3%
|
719
+4%
|
749
+4%
|
773
+3%
|
789
+2%
|
806
+2%
|
816
+1%
|
828
+1%
|
844
+2%
|
846
+0%
|
875
+3%
|
875
0%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(91)
|
(100)
|
(110)
|
(121)
|
(130)
|
(140)
|
(151)
|
(162)
|
(175)
|
(183)
|
(193)
|
(198)
|
(203)
|
(207)
|
(213)
|
(221)
|
(233)
|
(245)
|
(256)
|
(264)
|
(268)
|
(272)
|
(273)
|
(275)
|
(278)
|
(278)
|
(273)
|
(265)
|
(260)
|
(252)
|
(256)
|
(266)
|
(278)
|
(285)
|
(295)
|
(305)
|
(314)
|
(323)
|
(330)
|
(345)
|
(353)
|
|
Gross Profit |
145
N/A
|
157
+9%
|
170
+8%
|
184
+8%
|
198
+7%
|
212
+7%
|
226
+6%
|
238
+5%
|
251
+5%
|
261
+4%
|
272
+4%
|
282
+4%
|
291
+3%
|
300
+3%
|
305
+1%
|
314
+3%
|
324
+3%
|
335
+3%
|
347
+4%
|
350
+1%
|
356
+2%
|
361
+2%
|
366
+1%
|
371
+1%
|
372
+0%
|
370
-1%
|
373
+1%
|
387
+4%
|
407
+5%
|
436
+7%
|
463
+6%
|
483
+4%
|
496
+3%
|
504
+2%
|
512
+2%
|
511
0%
|
514
+0%
|
521
+1%
|
516
-1%
|
530
+3%
|
522
-2%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(102)
|
(115)
|
(131)
|
(145)
|
(159)
|
(174)
|
(187)
|
(200)
|
(210)
|
(218)
|
(227)
|
(234)
|
(245)
|
(255)
|
(267)
|
(282)
|
(298)
|
(314)
|
(324)
|
(325)
|
(323)
|
(325)
|
(332)
|
(341)
|
(352)
|
(353)
|
(335)
|
(324)
|
(322)
|
(319)
|
(335)
|
(362)
|
(388)
|
(402)
|
(418)
|
(411)
|
(401)
|
(419)
|
(430)
|
(457)
|
(454)
|
|
Selling, General & Administrative |
(80)
|
(90)
|
(101)
|
(112)
|
(121)
|
(133)
|
(144)
|
(157)
|
(168)
|
(176)
|
(183)
|
(190)
|
(198)
|
(208)
|
(218)
|
(232)
|
(245)
|
(256)
|
(262)
|
(263)
|
(264)
|
(268)
|
(278)
|
(287)
|
(286)
|
(296)
|
(278)
|
(268)
|
(269)
|
(269)
|
(285)
|
(308)
|
(328)
|
(340)
|
(351)
|
(341)
|
(330)
|
(328)
|
(327)
|
(343)
|
(352)
|
|
Research & Development |
(22)
|
(25)
|
(29)
|
(34)
|
(38)
|
(41)
|
(42)
|
(43)
|
(41)
|
(42)
|
(44)
|
(44)
|
(48)
|
(48)
|
(49)
|
(50)
|
(53)
|
(58)
|
(62)
|
(62)
|
(59)
|
(57)
|
(54)
|
(54)
|
(57)
|
(55)
|
(54)
|
(51)
|
(46)
|
(44)
|
(43)
|
(46)
|
(52)
|
(55)
|
(60)
|
(64)
|
(65)
|
(67)
|
(79)
|
(90)
|
(96)
|
|
Depreciation & Amortization |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(10)
|
(2)
|
(3)
|
(5)
|
(6)
|
(6)
|
(7)
|
(8)
|
(7)
|
(7)
|
(6)
|
(6)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
|
Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(19)
|
(19)
|
(19)
|
0
|
|
Operating Income |
43
N/A
|
42
-2%
|
40
-6%
|
39
-2%
|
39
-1%
|
38
-2%
|
39
+3%
|
38
-3%
|
41
+7%
|
44
+6%
|
44
+2%
|
48
+7%
|
46
-4%
|
45
-1%
|
38
-16%
|
32
-15%
|
26
-19%
|
21
-22%
|
23
+11%
|
24
+5%
|
33
+35%
|
36
+11%
|
34
-7%
|
30
-10%
|
20
-33%
|
18
-11%
|
37
+108%
|
63
+70%
|
85
+35%
|
118
+38%
|
128
+9%
|
121
-6%
|
108
-11%
|
102
-6%
|
94
-8%
|
101
+7%
|
112
+12%
|
102
-9%
|
85
-16%
|
74
-13%
|
68
-7%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
(0)
|
0
|
1
|
0
|
1
|
0
|
(0)
|
1
|
1
|
4
|
4
|
1
|
2
|
1
|
1
|
3
|
3
|
5
|
4
|
4
|
2
|
4
|
1
|
2
|
2
|
(3)
|
0
|
(4)
|
(4)
|
(3)
|
(3)
|
1
|
3
|
(1)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
39
|
33
|
33
|
33
|
(6)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(19)
|
0
|
0
|
0
|
0
|
|
Total Other Income |
0
|
0
|
0
|
0
|
(1)
|
(3)
|
(3)
|
(4)
|
(7)
|
(5)
|
(5)
|
(4)
|
(1)
|
(1)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
42
|
52
|
55
|
|
Pre-Tax Income |
43
N/A
|
43
-2%
|
40
-6%
|
39
-3%
|
38
-2%
|
35
-9%
|
36
+3%
|
34
-4%
|
34
0%
|
39
+15%
|
40
+2%
|
44
+10%
|
45
+1%
|
45
N/A
|
39
-12%
|
33
-15%
|
30
-10%
|
63
+110%
|
57
-10%
|
58
+2%
|
66
+14%
|
31
-53%
|
36
+16%
|
33
-9%
|
25
-25%
|
22
-11%
|
41
+86%
|
66
+60%
|
90
+36%
|
119
+33%
|
131
+10%
|
123
-6%
|
105
-15%
|
102
-3%
|
90
-12%
|
97
+7%
|
91
-6%
|
100
+10%
|
128
+29%
|
129
+0%
|
122
-5%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(17)
|
(17)
|
(16)
|
(16)
|
(16)
|
(14)
|
(15)
|
(15)
|
(15)
|
(17)
|
(16)
|
(15)
|
(12)
|
(11)
|
(10)
|
(9)
|
(9)
|
(16)
|
(13)
|
(12)
|
(11)
|
(2)
|
(3)
|
(2)
|
(5)
|
(5)
|
(9)
|
(16)
|
(18)
|
(22)
|
(23)
|
(22)
|
(13)
|
(13)
|
(11)
|
(11)
|
(15)
|
(18)
|
(16)
|
(11)
|
(12)
|
|
Income from Continuing Operations |
27
|
26
|
24
|
23
|
22
|
20
|
21
|
20
|
20
|
22
|
24
|
30
|
33
|
33
|
29
|
25
|
21
|
47
|
44
|
46
|
55
|
30
|
33
|
31
|
20
|
17
|
33
|
50
|
72
|
97
|
108
|
101
|
92
|
89
|
79
|
86
|
76
|
82
|
113
|
118
|
110
|
|
Net Income (Common) |
26
N/A
|
26
-2%
|
24
-7%
|
23
-4%
|
22
-4%
|
20
-7%
|
21
+2%
|
20
-6%
|
20
N/A
|
22
+14%
|
24
+8%
|
30
+22%
|
33
+10%
|
33
+2%
|
29
-12%
|
25
-15%
|
17
-32%
|
43
+156%
|
39
-8%
|
42
+6%
|
55
+31%
|
30
-46%
|
33
+12%
|
31
-8%
|
20
-34%
|
17
-16%
|
33
+93%
|
50
+54%
|
72
+43%
|
97
+35%
|
108
+11%
|
101
-6%
|
92
-9%
|
89
-3%
|
79
-11%
|
86
+9%
|
76
-11%
|
82
+8%
|
113
+37%
|
118
+5%
|
110
-7%
|
|
EPS (Diluted) |
0.73
N/A
|
0.71
-3%
|
0.68
-4%
|
0.65
-4%
|
0.61
-6%
|
0.58
-5%
|
0.59
+2%
|
0.55
-7%
|
0.54
-2%
|
0.62
+15%
|
0.67
+8%
|
0.82
+22%
|
0.91
+11%
|
0.92
+1%
|
0.81
-12%
|
0.69
-15%
|
0.47
-32%
|
1.21
+157%
|
1.12
-7%
|
1.17
+4%
|
1.54
+32%
|
0.83
-46%
|
0.93
+12%
|
0.86
-8%
|
0.57
-34%
|
0.47
-18%
|
0.91
+94%
|
1.39
+53%
|
1.97
+42%
|
2.6
+32%
|
2.9
+12%
|
2.71
-7%
|
2.46
-9%
|
2.38
-3%
|
2.18
-8%
|
2.36
+8%
|
2.08
-12%
|
2.24
+8%
|
3.12
+39%
|
3.27
+5%
|
3.04
-7%
|