A complete financial report of Shutterstock, Inc. (NYSE: SSTK)

On DAY, Shutterstock, Inc. (NYSE: SSTK) shares price traded between $46.31 and $47.34 during the last trading session downbeat with -1.19% at $46.46. The shares recorded a trading volume 112,319 million shares as compared to its average volume of 218,447 shares. The company has 35.08M shares outstanding and market value of 1.63B. Over the one year trading period, the stock has a peak price of $55.76 and its down is recorded at $31.77. The short ratio in the (SSTK) stock is 9.56 and the short float is around of 17.91%.

Shutterstock, Inc. (NYSE: SSTK), recently reported financial results for the fourth quarter and full year ended December 31, 2018.

Fourth Quarter 2018 highlights as contrast to Fourth Quarter 2017:

Key Operating Metrics

  • Paid downloads increased 6.6% to 46.8M.
  • Revenue per download increased 2.1% to $3.40.

Financial Highlights

  • Revenue increased 6.7% to $162.1M. Not Including revenue from Webdam, revenue increased 10.1%.
  • Income from operations increased 117.5% to $15.6M.
  • Net income increased 625% to $14.9M.
  • Adjusted EBITDA increased 45.6% to $33.9M.
  • Diluted EPS increased by $0.36 to $0.42 per share.

Revenue

Full year revenue of $623.3M increased $66.1M or 11.9% as contrast to 2017, driven by positive year-over-year growth in both our e-commerce and business powers. During 2018, they got progress on initiative based focus on broadening our product offerings, adding functionality to our creative platform, our workflow tools is being enhancing and our sales and marketing efforts is increased. These initiatives had the impact of attracting more users and promoting increased consumer engagement across our platform, resulting in a 4.4% increase in the number of paid downloads. Changes in our product mix drove an 8.6% increasing in income per download.

Not Including the impact from Webdam, which was sold in the first quarter of 2018 (the “Sale of Webdam”), revenue growth was about 14.7% for 2018 contrast to 2017. Revenue growth on a reliable currency based was about 10.7% and revenue growth not including the impact from Webdam on a reliable currency based was about 13.5% for 2018 contrast to 2017.

Revenue generated through our e-commerce platform increased 10.0% as contrast to the full year 2017, to $365.7M, and represented 58.7% of total revenue in 2018. Revenue from enterprise consumers increased about 22.1% as contrast to 2017, to $254.8M, and represented 40.9% of total revenue in 2018. Other 2018 revenue of $2.7M was generated from Webdam.

Income from Operations

Income from operations of $32.5M increased $6.1M or 23% as contrast to the full year 2017, resulting from revenue growth outpacing operating expense growth. Operating expenses increased $60.0M or 11.3%, primarily as a result of increased expenditures for royalties, sales and marketing, and costs associated with product development enhancements, partially offset by a decline in general and administrative expenses. The decline in general and administrative expenses was driven by cost management measures and a $2.0M benefit from the reduction of our indirect tax accruals.

Net Income

Net income of $54.7M, or $1.54 per diluted share, increased $38.0M as contrast to $16.7M, or $0.47 per diluted share, for the full year 2017. This increase is due primarily to a gain of about $27.6M, or $0.78 per diluted share, net of tax, related to the Sale of Webdam, growth in income from operations and a reduction in the effective tax rate, partially offset by an impairment charge of $4.9M, or $0.14 per diluted share, net of tax, related to our long-term investment in SilverHub Media Limited (“SHM”).

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