Shutterstock, Inc. (NYSE: SSTK) saw its shares fall Tuesday. The company which purports to be a leading global creative platform offering high-quality creative content for transformative brands, digital media and marketing companies, today announced financial results for the full year and fourth quarter ended December 31, 2024.
Full-year revenues were $935.3 million compared to $874.6 million. Net income was $35.9 million compared to $110.3 million. Net income per diluted common share was $1.01 compared to $3.04.
In the year’s last quarter, revenues were $250.3 million compared to $217.2 million. Net loss was $1.4 million compared to $1.0 million. Net loss per diluted common share was $0.04 compared to $0.03.
Commenting on the company’s performance, CEO Paul Hennessy said, “We are proud that Shutterstock achieved record revenues and Adjusted EBITDA in 2024. Our Content business grew on a year over year basis and each component of our Data, Distribution and Services business grew double digits or greater on a year over year basis and we expect continued growth across both of these offerings in 2025.”
During the three months ended December 31, 2024, the Company declared and paid a cash dividend of $0.30 per common share or $10.4 million.
On January 27, 2025, the Board of Directors declared a dividend of $0.33 per share of outstanding common stock, payable on March 20, 2025 to stockholders of record at the close of business on March 6, 2025.
SSTK shares stumbled $1.51, or 6.2%, to $23.00.
