SSTKShutterstock, Inc.
Shutterstock, Inc. (SSTK) sells digital assets — images, vectors, and stock footage — to brands, designers, and content creators. The next catalyst is Nov 3, 2026 — Q3 2026 Earnings Release, which will test the company’s ability to stabilize subscription growth and margin pressure after a string of earnings misses and regulatory headwinds.
- Revenue grew 5.8% YoY to $948.05M, but net income remains negative at -$160.68M.
- Free cash flow (TTM) stands at $129.95M, suggesting operational discipline despite poor margins.
- Debt / equity is low at 0.21x, but net margin (TTM) is -16.9%, highlighting ongoing pressure on profitability.
The Read
Shutterstock's stock has historically declined sharply on earnings misses and revenue weakness that exposed subscription and margin pressures, and it plunged further when the UK regulatory spin-off demand killed its $3.7 billion Getty merger.
The schedule
- Tue3Nov
The earnings report will test the company's ability to deliver revenue growth from AI content licensing and regulatory compliance, contrasting with the last print where guidance cuts overshadowed results.
- Tue12Jan
The review will test the company's ability to secure new AI data licensing deals and expand content partnerships, which could impact revenue and market positioning.
- Sun14Feb
This report will test the company's ability to reset guidance and show progress in AI content licensing, which differs from the last print where regulatory risks overshadowed performance.
- Tue27Apr
The earnings report will test the company's ability to sustain AI licensing revenue and show margin improvement, contrasting with the last print where regulatory risks overshadowed results.
- Tue3Aug
This report will test the company's ability to deliver AI licensing revenue and show progress in regulatory compliance, which differs from the last print where guidance cuts overshadowed results.
Past
- Tue15Sep
Actual outcome: Bear · $4.30 at outcome
The stock fell 11.8% following the Standalone Strategy & Capital Allocation Update, missing the bull case and hitting below the bear floor. The update failed to deliver on the anticipated strategic pivot or restructuring, and the market reacted negatively to the lack of concrete plans post-merger failure. The price action confirmed the bear case as investors sought clarity and reassurance, which was not provided.
Anticipated strategic pivot and potential restructuring or buyback announcement to reassure shareholders post-merger failure.
- Tue4Aug
Actual outcome: Bear · $5.64 at outcome
Shutterstock reported Q2 2026 earnings that met expectations with an EPS of -$1.34, but the stock continued to face downward pressure as investors scrutinized its standalone fundamentals following the collapsed Getty Images merger. The market increasingly viewed the stock as a 'yield trap' due to its deteriorating underlying business, driving shares below the $6.20 bear floor despite a newly announced integration with Anthropic's Claude.
First quarterly print judged solely on standalone fundamentals following the June 30 collapse of the Getty Images merger.
- Wed1Jul
Actual outcome: Bear · $5.05 at outcome
SSTK's stock collapsed after Getty Images abruptly terminated its $3.7B merger deal due to UK regulatory demands requiring Shutterstock to spin off its editorial business. The deal's collapse triggered a 30% premarket plunge, with regulators citing antitrust concerns as the primary reason for the termination. [Market retrospective · Short-Term (6–10 days)] Missed anticipation: -46.2% from 2026-06-29 to 2026-08-07 (~3.6σ vs typical 10d vol). Target date 2026-07-11 reached; move through 2026-08-07 observed. Confidence 95%. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-07: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-07 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-07: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-07 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-07: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-07 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-12: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-12 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-13: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-13 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-14: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-14 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-17: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-17 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-18: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-18 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-20: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-20 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-09-07: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-09-07 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-09-08: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-09-08 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-09-08: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-09-08 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-09-09: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-09-09 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-09-10: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-09-10 observed.
SSTK's stock collapsed after Getty Images abruptly terminated its $3.7B merger deal due to UK regulatory demands requiring Shutterstock to spin off its editorial business. The deal's collapse triggered a 30% premarket plunge, with regulators citing antitrust concerns as the primary reason for the termination. [Market retrospective · Short-Term (6–10 days)] Missed anticipation: -46.2% from 2026-06-29 to 2026-08-07 (~3.6σ vs typical 10d vol). Target date 2026-07-11 reached; move through 2026-08-07 observed. Confidence 95%. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-07: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-07 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-07: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-07 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-07: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-07 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-12: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-12 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-13: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-13 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-14: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-14 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-17: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-17 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-18: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-18 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-08-20: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-08-20 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-09-07: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-09-07 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-09-08: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-09-08 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-09-08: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-09-08 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-09-09: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-09-09 observed. [Market retrospective · Short-Term (6–10 days)] Updated observation 2026-09-10: -46.2% from 2026-06-29 (~3.6σ). Target date 2026-07-11 reached; move through 2026-09-10 observed.
- Tue30Jun
Actual outcome: Bear · $8.49 at outcome
Shutterstock shares plummeted after Getty Images officially terminated their planned $3.7 billion merger. The deal collapsed because UK regulators demanded that Shutterstock spin off its editorial business as a condition for approval, a hurdle that proved to be a deal-breaker for Getty's board.
- Tue28Apr
Actual outcome: Bear · $16.49 at outcome
Shutterstock missed Q1 earnings and revenue estimates, reporting EPS of $0.58 compared to the consensus estimate of $1.12 and $1.03 a year ago. This significant earnings miss and year-over-year decline in profitability highlighted ongoing revenue pressure and margin compression, driving the stock lower.
- Tue24Feb
Actual outcome: Bear · $16.71 at outcome
Shutterstock significantly missed Q4 earnings and revenue estimates, reporting EPS of $0.67 against a $1.05 consensus, which underscored weaknesses in core subscription stabilization. While the stock saw a modest bounce after the US DOJ cleared its merger with Getty Images, the fundamental earnings miss and lingering regulatory concerns from the UK CMA kept the price well below the bear floor.
