Shutterstock Posts $4.25 Loss Per Share in Q2, Deepening Financial Woes
SSTK sits 18% above its 52-week low of $5.172.
Summary
Shutterstock reported a Q2 loss of $4.25 per share, a sharp deterioration that follows a Q1 net loss and 18% revenue decline. Q2 revenue was $221.8 million, net loss $155.9 million including a $173.7 million goodwill impairment. The company is reeling from the collapsed Getty Images merger, a $35 million FTC settlement, and the recent CEO resignation. The dividend suspension announced in July underscores the cash preservation urgency. With the stock at $6.10 and a market cap of just $221 million, this loss signals severe operational stress. The interim CEO and CFO face a tough turnaround amid regulatory and competitive headwinds. Q2 revenue fell due to weak customer acquisition. The company suspended guidance and canceled its earnings call.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Q2 revenue was $221.8 million, net loss $155.9 million including a $173.7 million goodwill impairment, and the company suspended guidance and canceled its earnings call.
At the time of this announcement, SSTK was trading at $6.10 on NYSE in the Trade & Services sector, with a market capitalization of approximately $221.2M. The 52-week trading range was $5.17 to $29.50. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.