Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________________ FORM 10-Q ___________________________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECUR ...

Shutterstock Inc. (NYSE:SSTK) Q1 2023 Earnings Conference Call April 25, 2023 8:30 AM ET Company Participants Paul Hennessy - Chief Executive Officer Jarrod Yahes - Chief Financial Officer Chris Suh - Vice President, Investor Relations Conference Call Participants Lauren Schenk - Morgan Stanley Bernie McTernan - Needham & Co. Youssef Squali - Truist Securities Andrew Boone - JMP Securities Nick Delfas - Redburn Nat Schindler - Bank of America Operator Thank you for standing by, and welcome to Shutterstock’ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________________ FORM 10-Q ___________________________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECU ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________________________________________________________________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number: 001- ...

Shutterstock, Inc. (NYSE:SSTK) Q4 2022 Earnings Conference Call February 9, 2023 8:30 AM ET Company Participants Chris Suh - VP, IR and Corporate Development Paul Hennessy - CEO Jarrod Yahes - CFO Conference Call Participants Andrew Boone - JMP Securities Bernie McTernan - Needham & Company Youssef Squali - Truist Lauren Schenk - Morgan Stanley Nat Schindler - Bank of America Nick Deflas - Red Burn Operator Good day and thank you for standing by. Welcome to the Shutterstock Inc. Fourth Quarter Earnings Conf ...

Shutterstock Inc. (NYSE:SSTK) Q3 2022 Earnings Conference Call October 25, 2022 8:30 AM ET Company Participants Paul Hennessy - Chief Executive Officer Jarod Yahes - Chief Financial Officer Chris Suh - Vice President, Investor Relations Conference Call Participants Bernie McTernan - Needham & Co. Youssef Squali - Truist Securities Andrew Boone - JMP Securities Nat Schindler - Bank of America Lauren Schenk - Morgan Stanley Operator Good day and thank you for standing by. Welcome to the Q3 2022 Shutterstock ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________________ FORM 10-Q ___________________________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ...

Shutterstock, Inc. (NYSE:SSTK) Q2 2022 Earnings Conference Call July 26, 2022 8:30 AM ET Company Participants Chris Suh - VP, IR and Corporate Development Paul J. Hennessy - CEO Jarrod Yahes - CFO Conference Call Participants Bernie McTernan - Needham & Company Andrew Boone - JMP Securities Youssef Squali - Truist Securities Nat Schindler - Bank of America Operator Good day and welcome to the Q2 2022 Shutterstock, Inc. Earnings Conference Call. At this time all participants are in a listen-only mode. After ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________________ FORM 10-Q ___________________________________________________________________________________________________ 350 Fifth Avenue, 21st Floor (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SEC ...

Financial Data and Key Metrics Changes - Shutterstock reported a revenue growth of 9% year-over-year, or 11% on a constant currency basis, for Q1 2022 [7][23] - Subscription revenue reached a record 43% of total revenue, up from previous quarters, with overall subscriber count increasing by 17% [11][31] - Gross margin declined by approximately 114 basis points to 65.1% year-over-year, largely due to higher non-cash M&A amortization expenses [24] - Adjusted EBITDA margins were 27.5%, down by 300 basis points from the previous year, mainly driven by increased marketing spend [27] Business Line Data and Key Metrics Changes - The enterprise channel grew by 11% year-over-year, reflecting strong performance in FLEX team products and Shutterstock Studios [7][24] - E-commerce revenue grew by 7% year-over-year, or 9% on a constant currency basis, aligning with expectations [10][23] - The FLEX team subscription and FLEX Premium products are now key offerings for small and medium businesses, contributing to overall growth [8] Market Data and Key Metrics Changes - The company experienced a 2% foreign exchange headwind to revenues, primarily due to the depreciation of the euro and GBP [39][52] - Approximately 1% of revenues were derived from Russia and Ukraine, which the company has factored into its expectations for the year [20][39] Company Strategy and Development Direction - Shutterstock is focusing on integrating new applications and enhancing its product offerings, including AI-powered search and creative tools [13][18] - The company plans to introduce a creative flow subscription targeting casual creatives, which will include various applications and a free tier of content [17] - The strategy aims to position Shutterstock as a full-service partner for enterprise customers, enhancing customer retention and engagement [10][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth prospects despite headwinds from foreign exchange and geopolitical issues [32][39] - The company is maintaining its full-year revenue growth guidance of 8% to 10%, with expectations for margin stability [32][33] - Management highlighted the importance of product differentiation and sustained growth through new applications and strategic solutions [21][33] Other Important Information - Shutterstock made a $1 million donation to support contributors in Ukraine, which impacted EBITDA margins for the quarter [27][19] - The company repurchased 422,000 shares for $38.4 million during the quarter, reducing total shares outstanding [28] Q&A Session Summary Question: FX impact on revenue and integration of PicMonkey - Management quantified the FX impact at approximately $1 million for the quarter and discussed ongoing integration plans for PicMonkey [39][40] Question: User education on new applications - Management outlined plans for user education through site marketing and content creation to drive discovery of new applications [46][47] Question: Guidance and revenue growth offsets - Management indicated strong performance in the enterprise channel and confidence in product roadmap as offsets to revenue headwinds [51] Question: Competition in the stock content market - Management acknowledged the competitive landscape but emphasized Shutterstock's unique data and content library advantages [54] Question: Inclusion of PicMonkey subscribers in metrics - Management confirmed that PicMonkey subscribers have not yet been included in subscriber counts, awaiting annualization of the acquisition [58]