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Shutterstock (SSTK) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Shutterstock (SSTK) reported revenue of $260M for the third quarter 2025 (Q3 2025), +4% from a year earlier and -3% from the quarter before. Operating margin was 12.5%, net earnings $13.4M (5.1% of revenue).
Shutterstock, Q3 2025: revenue $260M (+4% year over year), operating margin 12.5%, net earnings $13.4M, operating cash flow $78.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $260M | -3% | +4% |
| Operating profit | $32.5M | -6% | +79% |
| Net earnings | $13.4M | -55% | -24% |
| Operating cash flow | $78.4M | +192% | — |
| Free cash flow | $68.0M | +338% | — |
What changed
Revenue was $260.1M in Q3 2025, up 4% year over year and down 3% from the previous quarter. Content was the largest line at 75% of revenue. Data, Distribution, and Services added $18.8M year over year (up 40%), 198% of the total change. Content declined 5%.
Operating profit was $32.5M, a 12.5% margin (up 5.2 points year over year). Of the extra revenue versus a year earlier, 151% reached operating profit, above the 7% margin then. Total costs fell 2% while revenue rose 4%. Net earnings were $13.4M, down 24% year over year. The effective tax rate was 57.4%.
Operating cash flow was $78.4M, 586% of net earnings. Non-cash charges added back $22.9M of depreciation and amortization and $13.0M of share-based compensation. Working capital and other items added $29.2M. Capital expenditures of $10.4M left free cash flow of $68.0M.
Questions
What was Shutterstock's revenue in the third quarter 2025?
Shutterstock (SSTK) reported revenue of $260M for the third quarter 2025 (Q3 2025), +4% from a year earlier and -3% from the quarter before.
Was Shutterstock profitable in the third quarter 2025?
Operating profit was $32.5M (12.5% of revenue) and net earnings $13.4M.
Source: Shutterstock 10-Q on SEC EDGAR.