Getty Images Holdings, Inc. (GETY) Q3 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 11 2025
0mins
Should l Buy GETY?
Source: SeekingAlpha
Third quarter revenue $240 million, representing a slight year-over-year decrease of 0.2% and 2% on a currency-neutral basis. The decrease was due to declines in editorial revenue and agency customers, partially offset by growth in creative revenue.
Adjusted EBITDA $78.7 million for the quarter, down 2.4% reported and 4.4% on a currency-neutral basis at a margin of 32.8% of revenue. The decline was attributed to increased SG&A expenses, including costs for SOX compliance and litigation.
Annual subscription revenue 58.4% of total revenue, up from 52.4% in Q3 of last year, representing year-on-year growth of 11.2% or 9.3% on a currency-neutral basis. Growth was driven by premium access, which grew 17% or 15% currency neutral, aided by a large renewal.
Creator revenue $144.9 million for the quarter, up 8.4% year-on-year and 6.4% on a currency-neutral basis. Growth was driven by premium access revenue, video, Unsplash+, and custom content, while agency revenue declined 22% year-on-year.
Editorial revenue $89.3 million, down 3.7% year-on-year and 5.6% on a currency-neutral basis. The decline was due to double-digit decreases in news and sports, partially offset by growth in entertainment and archives.
Other revenue $5.8 million, down from $14.1 million in Q3 '24. The decline was due to the timing of prior year revenue recognition for creative content deals, including AI rights.
Adjusted EBITDA less CapEx $64 million, down 6.1% or 8.1% on a currency-neutral basis. The decline was due to increased CapEx and lower adjusted EBITDA.
Free cash flow $7.9 million compared to negative $1.8 million in Q3 2024. The increase was due to changes in working capital, primarily the timing of receivables and payables.
SG&A expense $101 million, up $0.9 million year-on-year. The increase was due to $3 million of professional fees for SOX compliance and $1 million for litigation costs.
CapEx $14.7 million in Q3, up $2.2 million year-over-year. The increase reflects the timing of payments for routine CapEx spend.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy GETY?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on GETY
Wall Street analysts forecast GETY stock price to rise
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 0.786
Low
7.00
Averages
7.00
High
7.00
Current: 0.786
Low
7.00
Averages
7.00
High
7.00
About GETY
Getty Images Holdings, Inc. is a global visual content creator and marketplace company. The Company offers a full range of content solutions to meet the needs of any customer around the globe. Through its Getty Images, iStock and Unsplash brands, websites and application programming interfaces (APIs), the Company serves customers and discovers, purchases and shares visual content from photographers and videographers. The Company covers approximately 160,000 news, sport and entertainment events, providing depth and breadth of coverage. The Company also maintains photographic archives in the world with millions of images dating back to the beginning of photography. It works with approximately 557,000 contributors and more than 320 content partners to deliver a range of content. Its Getty Images, iStock, and Unsplash brands categorize its content and services into three categories: Creative, Editorial, and Other. Its Gettyimages.com offers premium creative content and editorial coverage.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Canva Acquires Startups to Counter Market Challenges
- Acquisition Strategy: Canva's acquisition of startups Cavalry and MangoAI aims to bolster its competitive edge in animation and short video advertising, particularly as Adobe faces market pressures, demonstrating Canva's proactive approach to market changes.
- Technology Integration: Cavalry's animation technology will be integrated into Canva's core products and the Affinity application, enhancing user capabilities in motion graphics while allowing Cavalry to operate independently to meet diverse designer needs.
- Revenue Growth: Canva reported an annualized revenue exceeding $4 billion in 2025, a 36% increase year-over-year, indicating strong growth momentum in a competitive market, despite Adobe's market capitalization reaching $101 billion.
- AI Application Prospects: Canva plans to incorporate MangoAI technology into its Canva Grow advertisement generator, assisting users in analyzing video performance and optimizing content strategies, further enhancing product competitiveness and user experience.
See More
U.S. DOJ Approves Getty Images and Shutterstock Merger
- Merger Approval: The U.S. Department of Justice has approved the $3.7 billion merger proposal between Getty Images and Shutterstock, marking a significant advancement in their global market consolidation that is expected to enhance their competitive positioning.
- Waiting Period Expiration: The applicable waiting period under the Hart-Scott Rodino Act has expired, allowing the two companies to begin merger preparations ahead of the final decision from the UK's Competition and Markets Authority (CMA).
- Market Reaction: Although the merger news initially boosted the stock prices of both companies, Getty Images has now experienced its eighth consecutive day of decline, while Shutterstock's shares have also dipped slightly, indicating market caution regarding the merger's prospects.
- Future Outlook: In a joint statement, both companies expressed optimism regarding the CMA's final decision, hoping it will align with the DOJ and other global regulators, based on the merits of the transaction and market realities.
See More
Getty Images Merger with Shutterstock Cleared by DOJ
- Merger Approval: The U.S. Department of Justice has cleared the merger proposal between Getty Images and Shutterstock, marking a significant step towards resource integration and strengthening financial foundations, which is expected to create more investment opportunities in the future.
- Stock Surge: Following the merger announcement, Getty's stock price soared by 32.96% to 98 cents per share, reflecting strong market optimism about the merger's prospects and potentially attracting more investor interest.
- Expected Synergies: The companies anticipate achieving substantial synergies in sales, general and administrative expenses, and capital expenditures post-merger, which will enhance overall operational efficiency and profitability.
- Regulatory Review Progress: While the merger has been approved in the U.S., both companies are still engaging with the U.K. Competition and Markets Authority, hoping to secure final approval by April 19 to ensure a smooth merger process globally.
See More
Kraig Biocraft Laboratories Featured on National Geographic Cover
- Technological Breakthrough: Kraig Biocraft Laboratories' recombinant spider silk technology featured on the cover of National Geographic, showcasing its genetically enhanced silkworm platform, is expected to drive stock price appreciation and attract investor interest.
- Production Scale: The company plans to deploy approximately one million proprietary silkworm eggs in Vietnam, targeting up to 10 metric tons of cocoons per month, which would make KBLB only the second company in history to achieve sustained commercial production from a transgenic animal platform.
- Market Potential: With confirmation of initial deliveries to global brand partners, KBLB is poised to transition from a research narrative to a specialty materials platform, further solidifying its position in the luxury fashion and performance sportswear markets.
- Acquisition Dynamics: Gilead Sciences announced the acquisition of Arcellx for $115 per share, totaling approximately $7.8 billion, which further consolidates its oncology market position and may enhance the acceptance of related therapies.
See More
Kraig Biocraft Laboratories Featured on National Geographic Cover
- Technology Spotlight: Kraig Biocraft Laboratories' recombinant spider silk technology featured on the cover of the March 2026 issue of National Geographic, showcasing its genetically enhanced silkworm platform, which is expected to attract increased investor interest and enhance the company's market position in biomaterials.
- Production Scale Plans: The company plans to deploy approximately one million proprietary silkworm eggs across three facilities in Vietnam, targeting up to 10 metric tons of cocoons per month, and if successful, this would make Kraig the second company in history to achieve sustained commercial production from a transgenic animal platform.
- Acquisition Deal: Gilead Sciences announced a definitive agreement to acquire Arcellx for $115 per share, representing an implied equity value of approximately $7.8 billion, which will give Gilead full control of a CAR T-cell therapy for relapsed multiple myeloma, further solidifying its oncology market position.
- Revenue Growth: ImmunityBio reported approximately $113 million in net product revenue for ANKTIVA in 2025, reflecting a 700% year-over-year increase, and has expanded regulatory authorization across 33 countries, indicating strong growth potential in the global market.
See More
UK Regulator Raises Concerns Over Getty-Shutterstock Merger
- Merger Competition Concerns: The UK Competition and Markets Authority (CMA) stated that the proposed merger between Getty Images (GETY) and Shutterstock (SSTK) may reduce competition in the supply of editorial content in the region, although global stock content supply remains unaffected, highlighting regulatory vigilance over market concentration.
- Company Disagreement: Getty expressed disappointment with the CMA's provisional findings, arguing that the analysis does not accurately reflect the UK market's composition or the level of regional competition, indicating the company's ongoing confidence in the merger and potential efforts to secure regulatory approval.
- Transaction Scale: The merger is valued at $3.7 billion and has been under review by the CMA since August last year, following its announcement in January 2025, illustrating the complexity of regulatory scrutiny and the stringent oversight of large transactions.
- Poor Stock Performance: Over the past 12 months, GETY has lost more than two-thirds of its value, while SSTK has declined by over 40%, reflecting market concerns about the future prospects of both companies, which may impact merger negotiations and the final outcome.
See More
Canva Acquires Startups to Counter Market Challenges
- Acquisition Strategy: Canva's acquisition of startups Cavalry and MangoAI aims to bolster its competitive edge in animation and short video advertising, particularly as Adobe faces market pressures, demonstrating Canva's proactive approach to market changes.
- Technology Integration: Cavalry's animation technology will be integrated into Canva's core products and the Affinity application, enhancing user capabilities in motion graphics while allowing Cavalry to operate independently to meet diverse designer needs.
- Revenue Growth: Canva reported an annualized revenue exceeding $4 billion in 2025, a 36% increase year-over-year, indicating strong growth momentum in a competitive market, despite Adobe's market capitalization reaching $101 billion.
- AI Application Prospects: Canva plans to incorporate MangoAI technology into its Canva Grow advertisement generator, assisting users in analyzing video performance and optimizing content strategies, further enhancing product competitiveness and user experience.
See More
U.S. DOJ Approves Getty Images and Shutterstock Merger
- Merger Approval: The U.S. Department of Justice has approved the $3.7 billion merger proposal between Getty Images and Shutterstock, marking a significant advancement in their global market consolidation that is expected to enhance their competitive positioning.
- Waiting Period Expiration: The applicable waiting period under the Hart-Scott Rodino Act has expired, allowing the two companies to begin merger preparations ahead of the final decision from the UK's Competition and Markets Authority (CMA).
- Market Reaction: Although the merger news initially boosted the stock prices of both companies, Getty Images has now experienced its eighth consecutive day of decline, while Shutterstock's shares have also dipped slightly, indicating market caution regarding the merger's prospects.
- Future Outlook: In a joint statement, both companies expressed optimism regarding the CMA's final decision, hoping it will align with the DOJ and other global regulators, based on the merits of the transaction and market realities.
See More
Getty Images Merger with Shutterstock Cleared by DOJ
- Merger Approval: The U.S. Department of Justice has cleared the merger proposal between Getty Images and Shutterstock, marking a significant step towards resource integration and strengthening financial foundations, which is expected to create more investment opportunities in the future.
- Stock Surge: Following the merger announcement, Getty's stock price soared by 32.96% to 98 cents per share, reflecting strong market optimism about the merger's prospects and potentially attracting more investor interest.
- Expected Synergies: The companies anticipate achieving substantial synergies in sales, general and administrative expenses, and capital expenditures post-merger, which will enhance overall operational efficiency and profitability.
- Regulatory Review Progress: While the merger has been approved in the U.S., both companies are still engaging with the U.K. Competition and Markets Authority, hoping to secure final approval by April 19 to ensure a smooth merger process globally.
See More
Kraig Biocraft Laboratories Featured on National Geographic Cover
- Technological Breakthrough: Kraig Biocraft Laboratories' recombinant spider silk technology featured on the cover of National Geographic, showcasing its genetically enhanced silkworm platform, is expected to drive stock price appreciation and attract investor interest.
- Production Scale: The company plans to deploy approximately one million proprietary silkworm eggs in Vietnam, targeting up to 10 metric tons of cocoons per month, which would make KBLB only the second company in history to achieve sustained commercial production from a transgenic animal platform.
- Market Potential: With confirmation of initial deliveries to global brand partners, KBLB is poised to transition from a research narrative to a specialty materials platform, further solidifying its position in the luxury fashion and performance sportswear markets.
- Acquisition Dynamics: Gilead Sciences announced the acquisition of Arcellx for $115 per share, totaling approximately $7.8 billion, which further consolidates its oncology market position and may enhance the acceptance of related therapies.
See More
Kraig Biocraft Laboratories Featured on National Geographic Cover
- Technology Spotlight: Kraig Biocraft Laboratories' recombinant spider silk technology featured on the cover of the March 2026 issue of National Geographic, showcasing its genetically enhanced silkworm platform, which is expected to attract increased investor interest and enhance the company's market position in biomaterials.
- Production Scale Plans: The company plans to deploy approximately one million proprietary silkworm eggs across three facilities in Vietnam, targeting up to 10 metric tons of cocoons per month, and if successful, this would make Kraig the second company in history to achieve sustained commercial production from a transgenic animal platform.
- Acquisition Deal: Gilead Sciences announced a definitive agreement to acquire Arcellx for $115 per share, representing an implied equity value of approximately $7.8 billion, which will give Gilead full control of a CAR T-cell therapy for relapsed multiple myeloma, further solidifying its oncology market position.
- Revenue Growth: ImmunityBio reported approximately $113 million in net product revenue for ANKTIVA in 2025, reflecting a 700% year-over-year increase, and has expanded regulatory authorization across 33 countries, indicating strong growth potential in the global market.
See More
UK Regulator Raises Concerns Over Getty-Shutterstock Merger
- Merger Competition Concerns: The UK Competition and Markets Authority (CMA) stated that the proposed merger between Getty Images (GETY) and Shutterstock (SSTK) may reduce competition in the supply of editorial content in the region, although global stock content supply remains unaffected, highlighting regulatory vigilance over market concentration.
- Company Disagreement: Getty expressed disappointment with the CMA's provisional findings, arguing that the analysis does not accurately reflect the UK market's composition or the level of regional competition, indicating the company's ongoing confidence in the merger and potential efforts to secure regulatory approval.
- Transaction Scale: The merger is valued at $3.7 billion and has been under review by the CMA since August last year, following its announcement in January 2025, illustrating the complexity of regulatory scrutiny and the stringent oversight of large transactions.
- Poor Stock Performance: Over the past 12 months, GETY has lost more than two-thirds of its value, while SSTK has declined by over 40%, reflecting market concerns about the future prospects of both companies, which may impact merger negotiations and the final outcome.
See More
