Filing Flows › Shutterstock (SSTK) › Q3 2026 › vs Q3 2025
Shutterstock (SSTK) Q3 2026 vs Q3 2025 (year over year)
Shutterstock's revenue fell $86.2M (-33%) from $260M in Q3 2025 to $174M in Q3 2026. The biggest changes: Data, Distribution, and Services −$49.8M (-76%); Content −$36.4M (-19%).
Shutterstock, Q3 2026: revenue $174M (-33% year over year), operating margin -114.5%, net loss $198M, operating cash flow $18.3M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 7.2% | 28.9% | -21.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Content | $158M | $194M | −$36.4M | -19% |
| Data, Distribution, and Services | $15.8M | $65.7M | −$49.8M | -76% |
| Revenue | $174M | $260M | −$86.2M | -33% |
| Income tax benefit | $2.8M | −$18.0M | $20.8M | — |
| Net loss | $198M | −$13.4M | $211M | — |
| Costs & expenses | $374M | $260M | $114M | +44% |
| Operating costs | $373M | $228M | $145M | +64% |
| Interest & other, net | $1.5M | $1.1M | $382K | +35% |
| Cost of revenue | $83.7M | $103M | −$18.8M | -18% |
| Research & development | $14.2M | $22.4M | −$8.1M | -36% |
| Sales & marketing | $43.9M | $59.4M | −$15.4M | -26% |
| General & admin | $27.7M | $43.3M | −$15.6M | -36% |
| Operating cash sources | $216M | $65.0M | $151M | +232% |
| Depreciation & amortization | $21.8M | $22.9M | −$1.1M | -5% |
| Share-based compensation | $7.8M | $13.0M | −$5.1M | -40% |
| Working capital & other | $186M | $29.2M | $157M | +539% |
| Net loss absorbed | $198M | −$13.4M | $211M | — |
| Operating cash flow | $18.3M | $78.4M | −$60.1M | -77% |
| Adjusted Free Cash Flow (company-reported) | $12.5M | $75.2M | −$62.7M | -83% |
| Capital expenditures, net | $5.4M | $2.0M | $3.4M | +169% |
| Content acquisitions | $326K | $1.1M | −$823K | -72% |
Questions
How much did Shutterstock's revenue grow year over year in Q3 2026?
Shutterstock's revenue fell $86.2M (-33%) from $260M in Q3 2025 to $174M in Q3 2026.
What drove Shutterstock's revenue change in Q3 2026?
Data, Distribution, and Services −$49.8M (-76%); Content −$36.4M (-19%).