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, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...

Financial Data and Key Metrics Changes - Shutterstock reported a 16% revenue growth for the full year 2021, the highest annual growth rate since 2016 [7] - For the fourth quarter, revenue grew 14%, with e-commerce revenue increasing by 16% and enterprise revenue growing by 10% [26] - Gross margins for the full year were 64.1%, up 300 basis points from 61.1% in 2020, while Q4 gross margin declined by approximately 150 basis points to 61.9% year-over-year [27] - Adjusted EBITDA margins increased to 25% for the full year 2021, up from 23.2% in 2020, with a 19% margin in Q4 [31][45] - GAAP diluted earnings per share for the full year was $2.46, representing a growth of 25% [32] Business Line Data and Key Metrics Changes - E-commerce channel grew 19% in 2021, with a 22% increase in subscribers and a 20% growth in subscription revenue [7][8] - The enterprise channel saw an 11% growth in 2021, recovering from a 2% decline in 2020, driven by strength in core image and footage business [11][12] - The number of enterprise deals with an average order value greater than $100,000 grew almost 80% in 2021 [16] Market Data and Key Metrics Changes - The deferred revenue balance increased to $181 million, up almost $10 million from the third quarter and over $31 million from Q4 2020, representing a growth of 21% [34] - Currency is expected to have a negative impact of 2% on revenue growth in 2022, contrasting with a positive impact of 1% in 2021 [42][43] Company Strategy and Development Direction - The company is focused on transforming into a creative platform leveraging content, data, and workflow applications, with plans to introduce new products in the e-commerce channel in early 2022 [21][22] - Strategic acquisitions in 2021 are expected to contribute to growth, particularly in 3D revenues from TurboSquid and enhanced offerings from PicMonkey [17][18] - The company aims to attract new customer segments, including non-professional creative enthusiasts, through new creative power tools [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business for 2022, highlighting the acceleration of revenue growth and enhanced profitability in 2021 [23][45] - The company anticipates organic growth returning to normalized levels throughout 2022, with revenue guidance set between $835 million to $850 million [40][41] - Management emphasized the importance of customer engagement and retention through enhanced subscription offerings and workflow integration [21] Other Important Information - The company announced a 14% increase in its quarterly dividend to $0.24 per share, reflecting positive cash flow results in 2021 [35] - Share repurchase program is expected to increase from $75 million to $100 million annually, allowing for the buyback of approximately 3% of outstanding shares each year [37] Q&A Session Summary Question: Addressing customer needs with new subscription products - Management acknowledged that pricing and packaging of content will continue to drive growth, particularly with new content types and workflow integration [50] Question: Trends in customer content and computer vision revenue - Management clarified that various businesses do not conform neatly to traditional revenue models, and they are focused on maintaining unit pricing while adding value to subscriptions [54] Question: Integration of TurboSquid and new customer types - Management indicated that they will enable 3D services within enterprise, catering to agencies and other clients, and will launch services similar to their 2D content offerings [57] Question: Insights from the brand campaign - Management noted that they learned about the effectiveness of different channels and will focus on high ROI channels while launching new products that require customer education [59]

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, 2021 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- ...

| --- | --- | --- | --- | --- | |--------------------|-------|-------|-------|-------| | | | | | | | shutterstsck: | | | | | | Third Quarter 2021 | | | | | | October 26, 2021 | | | ● ● | | | | | . | | | ● Forward-Looking Statements 2 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking. Examples of forward-looking statements include, but are not limited to, ...

Shutterstock, Inc. (NYSE:SSTK) Q3 2021 Earnings Conference Call October 26, 2021 8:30 AM ET Company Participants Chris Suh - Investor Relations Stan Pavlovsky - Chief Executive Officer, Jarrod Yahes - Chief Financial Officer Conference Call Participants Youssef Squali - Truist Andrew Boone - JMP Securities Bernie McTernan - Needham & Company Nat Schindler - Bank of America Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the t ...

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, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ...

Financial Data and Key Metrics Changes - Company reported a revenue growth of 19% in Q2 2021, with constant currency organic revenue growth of 12% [21][26] - Adjusted EBITDA margin expanded by 460 basis points to 27.9% due to accelerated revenue growth and improved gross margin [34] - GAAP diluted earnings per share was $0.79, while adjusted diluted EPS was $1.02, representing growth of 49% and 65% respectively [34] Business Line Data and Key Metrics Changes - E-commerce revenue grew by 23%, driven by balanced growth across image, footage, and music, with TurboSquid contributing significantly [22][28] - Enterprise revenue growth accelerated to 13%, up from 5% in the previous quarter, supported by new product introductions and bookings momentum [23][28] - Subscriber count increased by 44%, and subscriber revenue grew by 25%, indicating strong demand for subscription products [40] Market Data and Key Metrics Changes - Revenue growth was 23% in North America, 24% in Europe, and 11% in the rest of the world, with European growth driven by the UK, Germany, and France [29] - The company experienced a 2% increase in paid downloads, with revenue per download rising to $4.17 [40] Company Strategy and Development Direction - The formation of Shutterstock.AI and the acquisition of three AI-driven platforms represent a strategic pivot towards data and insights, enhancing product offerings [9][18] - The company aims to integrate predictive performance and computer vision solutions into its offerings, addressing customer pain points in content selection [10][19] - Future product developments will focus on enhancing subscription products with data-driven insights to improve customer retention [43][65] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continuation of economic recovery and raised revenue and EBITDA guidance for 2021 [24][48] - The company anticipates a moderation in e-commerce growth rates in the latter half of the year due to tougher comparables [50] - Management highlighted the importance of AI in driving future growth and improving customer retention [68] Other Important Information - The company plans to pay a quarterly dividend of $0.21 per share and has initiated a $75 million annual share buyback program [37][38] - The deferred revenue balance increased by over $8 million from the previous quarter, indicating strong future revenue potential [36] Q&A Session Summary Question: Guidance and Revenue Expectations - Analyst inquired about the guidance for Q3 and Q4, noting that the high end of the guidance implies potential revenue stagnation [58] - Management responded that they are confident in the guidance raise, but acknowledged tougher comparables in the latter half of the year [59][60] Question: Business Evolution and AI Impact - Analyst asked about the strategic pivot towards AI and how the business might evolve in the next few years [58] - Management confirmed the pivot towards a technology platform, focusing on data-enabled solutions to enhance customer decision-making [63][65] Question: AI's Impact on Growth - Analyst questioned the potential impact of AI on revenue growth in 2022 [67] - Management indicated that while specific guidance for 2022 is not provided, they expect significant benefits from AI integration over the next 12 to 18 months [69] Question: Enterprise Growth and SMB FLEX - Analyst sought clarification on the sustainability of enterprise growth and the impact of new products like SMB FLEX [70] - Management highlighted successful product introductions and a segmented sales approach as key drivers of enterprise growth [71][72] Question: Competitive Landscape and TurboSquid Integration - Analyst asked about competitive differentiation in AI and the integration of TurboSquid [75] - Management noted that while many companies leverage AI, Shutterstock's focus on creative performance and data-driven recommendations sets it apart [76][79]

| --- | --- | --- | --- | --- | --- | |---------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | shutterstsck: | | | | | | | Second Quarter 2021 | | | | | | | July 27, 2021 | | | . ● | | | | | | | | | | | | | ● + | | | | ● Forward-Looking Statements 2 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking. Examples of forwar ...

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, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECUR ...

| --- | --- | --- | --- | --- | |------------------------------------|-------|-------|-------|-------| | shutterstsck® \nFirst Quarter 2021 | | | | | | | | | | | | April 27, 2021 | | | | | | | | | ● | | | | | | ● | | | | | | | | | | | | | | | | | | | | | | | | | | Forward-Looking Statements This presentation contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on our management's beliefs and assumptions and on information currently a ...