Shutterstock, Inc. reported record revenues of $267.0 million for the second quarter ended June 30, 2025, marking a 21% increase compared to the second quarter of 2024. The company also achieved record Adjusted EBITDA of $82.2 million, a 32% increase year-over-year, with an Adjusted EBITDA margin of 30.8%.
The Content product offering revenue increased by 18% to $199.8 million, with contributions from the Envato acquisition. The Data, Distribution, and Services (DDS) segment revenue surged by 34% to $67.2 million, benefiting from the timing of data deal revenue recognition.
Net income for the quarter was $29.4 million, or $0.82 per diluted common share, a significant increase from $3.6 million, or $0.10 per diluted share, in Q2 2024. Adjusted net income also rose to $42.9 million, or $1.19 per diluted share, up from $35.9 million, or $1.00 per diluted share, in the prior year.
The company's cash and cash equivalents increased to $116.4 million at June 30, 2025. Adjusted free cash flow for the quarter was $17.5 million, a decrease of $18.7 million from Q2 2024, partly due to $8.7 million in professional fees related to the proposed Getty Images merger.
The Board of Directors declared a quarterly cash dividend of $0.33 per common share, payable on September 18, 2025. CEO Paul Hennessy highlighted that Shutterstock's complete suite of offerings is enabling it to fuel great work for customers.
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