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Shutterstock SSTK Reportable Segment — Adjusted cost of revenue

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Other financials

Income statement

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Revenue$199.2M-17.9%
Gross profit$104.4M-26.4%
Operating income-$31.0M-403%
Net income-$47.6M-355%
EPS (diluted)-$1.34-353%

Balance sheet

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Cash & equivalents$162.5M+44.8%
Total debt$289.3M-3.1%
Total equity$532.1M-2.8%
Total assets$1.3B-1.0%

Cash flow

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Operating cash flow$17.4M-31.2%
CapEx$11.6M+7.3%
Free cash flow$5.8M-60.0%

Valuation

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Market cap$510.66M-21.1%
Enterprise value$637.49M-23.5%
P/E36.6×-66.3×
P/S0.5×-0.1×

Profitability

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Gross margin57.7%+0.1pp
Operating margin3.8%-2.6pp
Net margin6%+1.9pp
FCF margin12.2%+11.5pp

Returns & leverage

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Return on equity11%+3.9pp
Debt / equity0.5×0.0×
Current ratio0.5×+0.1×

Where this comes from

Reported directly by Shutterstock in its filing.

Tagged under the XBRL concept sstk:AdjustedCostOfGoodsAndServicesSold.

The official record: Shutterstock’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Shutterstock's reportable segment — adjusted cost of revenue?
Shutterstock (SSTK) reported reportable segment — adjusted cost of revenue of $82.86M in Q1 2026.
How has Shutterstock's reportable segment — adjusted cost of revenue changed year-over-year?
Shutterstock's reportable segment — adjusted cost of revenue decreased by 7.3% year-over-year, from $89.43M to $82.86M.
What is the long-term trend for Shutterstock's reportable segment — adjusted cost of revenue?
Over 3 years (2022 to 2025), Shutterstock's reportable segment — adjusted cost of revenue has grown at a 7.8% compound annual growth rate (CAGR), from $288.3M to $360.96M.
What does reportable segment — adjusted cost of revenue mean?
Includes the direct costs incurred to produce and deliver the segment's digital products, excluding non-recurring or non-cash items. It provides a clearer view of the underlying unit economics and the direct profitability of the content licensing business.