Shutterstock Posts $156M Quarterly Loss After Failed Merger

Revenue for the quarter ended June 30, 2026, fell 17% to $221.8 million, driven by a decline in new customer acquisitions. The company’s Content division, which accounts for 75% of total revenue, saw its earnings drop by $34.1 million. Meanwhile, the Data, Distribution, and Services segment decreased by $16% to $56.1 million. The firm’s bottom line was further pressured by a $35 million settlement with the Federal Trade Commission regarding subscription and cancellation practices.

Interim CEO Rik Powell noted that the company is now prioritizing structural efficiency. Having already achieved $70 million in annualized operating expense reductions, leadership is targeting an additional $60 million in cuts by year-end. In light of these internal shifts, Shutterstock has opted to cancel its scheduled earnings teleconference and will not provide financial guidance for the remainder of 2026.