Shutterstock's second quarter revenue of $221.8M beat estimates, though a large goodwill charge drove a net loss.

Shutterstock reported second quarter 2026 revenue of $221.8 million, a 17% decrease year-over-year but ahead of analyst expectations. The company posted a GAAP net loss of ($155.9) million, or ($4.25) per share, driven by a $173.7 million pre-tax goodwill impairment charge following its terminated merger. Adjusted EPS came in at $0.82, significantly beating consensus estimates.

Key Highlights

• Revenue declined 17% YoY to $221.8 million, with Content revenue also falling 17% to $165.7 million, a drop attributed to weakness in new customer acquisition.
• The company recorded a GAAP net loss of ($155.9) million, which included a $173.7 million pre-tax goodwill impairment charge related to the decline in fair value after the terminated merger agreement.
• Management is targeting an additional $60 million in annualized operating expense reductions by year-end and has cancelled its earnings conference call while withdrawing guidance for the remainder of 2026.