SSTK News & Events

Getty Images (GETY) and Shutterstock (SSTK) announced that the United States Department of Justice has concluded its review of the companies' proposed merger of equals and the applicable waiting period under the Hart-Scott-Rodino Act has expired, without conditions. The merger transaction is expected to deliver substantial synergies across SG&A and CAPEX following close . Prior to the DOJ's decision, in the United Kingdom, the Competition and Markets Authority issued its interim report on February 19 as part of the ongoing Phase 2 review. Getty Images and Shutterstock are actively engaged with the CMA ahead of the CMA's final decision due by April 19, to further the CMA's understanding of the Editorial market and how the merger enhances the combined company's ability to serve customers, contributors, and partners in a highly competitive marketplace. Based on the merits of the transaction and market realities, Getty Images and Shutterstock remain hopeful that the CMA will reach a conclusion consistent with the DOJ and other regulators around the globe.

Shutterstock issued a statement on the UK Competition and Markets Authority's, or CMA, provisional decision: "We are pleased to see the CMA's progress with respect to the proposed merger between Shutterstock and Getty Images, particularly its provisional finding that the merger is not expected to result in competition issues in the global Stock content market. We are disappointed and disagree with the CMA's provisional finding that the merger may result in a 'substantial lessening of competition' in the UK Editorial market. We do not believe the analysis or interim conclusions reflect the composition of the UK market, the level of regional competition within it or the alternatives available to customers. We will continue to engage constructively with the CMA and expect to file our response to the CMA's interim report in line with the CMA's timeline. We also continue to work cooperatively with the U.S. Department of Justice as its review progresses."

Reports Q4 revenue $220.2M, consensus $252.34M. CEO Paul Hennessy said, "I'm thrilled to announce that Shutterstock achieved record setting Revenue and Adjusted EBITDA in 2025. Revenue grew 6% driven by double digit growth of our Data, Distribution, and Services business, while Adjusted EBITDA margins for the year matched a previous high of 27.5% and Adjusted Free Cash Flow significantly expanded year over year. These achievements were despite continued challenges in our Content business. I want to thank our employees and contributors for their focus and commitment during this past year. Looking forward to 2026, we will continue to simplify our Core Content business with products and pricing that meet our customers' needs in order to improve on current trends and we're excited to continue investing in our Data, Distribution and Services business by offering specialized AI Services, including data creation and enrichment, in addition to our world-class stock assets for model training." With regards to the pending merger with Getty Images, Hennessy said, ''We continue to work alongside Getty Images and with the regulatory authorities to secure the necessary approvals for this transaction.''