SHUTTERSTOCK, INC. SSTK Income Statement

Shutterstock, inc. (SSTK)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Revenue
161,285	166,371	159,079	161,741	163,332	162,072	151,575	156,584	153,019	151,829	141,063	133,995	130,224	130,173	123,073	124,419	116,652	116,002	107,260	104,365	97,522	91,226	83,730	80,238	72,777	68,031	59,558	56,809	51,117	49,157	42,260	40,625	37,574	34,728	31,156	28,912	25,475
Operating expenses:
Cost of revenue
69,123	71,797	68,635	68,526	69,218	68,829	66,461	67,891	64,490	64,590	58,812	57,289	52,411	52,637	50,184	52,245	48,063	47,944	44,512	42,545	39,525	35,603	33,260	32,047	29,112	26,102	22,936	21,768	19,821	18,794	16,057	15,436	14,389	12,975	11,373	10,977	10,179
Sales and marketing
42,660	47,182	45,614	44,488	44,446	43,034	41,028	42,018	40,368	40,844	36,008	37,109	32,503	34,990	32,977	31,571	27,088	26,709	27,393	27,429	25,105	21,235	21,122	20,492	19,276	16,499	14,947	13,314	11,978	12,022	9,752	11,093	12,240	9,600	8,493	6,875	6,961
Product development
13,069	15,103	13,533	13,594	14,986	11,689	14,032	16,728	16,448	15,210	13,340	12,892	11,044	12,989	11,604	11,971	11,225	9,622	10,827	10,189	10,684	11,379	9,870	9,275	7,777	6,464	5,685	5,060	4,555	5,675	3,795	3,441	3,419	2,711	2,811	2,368	1,887
General and administrative
30,652	26,486	28,114	32,063	26,583	22,881	23,355	24,322	27,224	23,994	27,333	23,420	23,963	16,358	17,020	18,155	19,454	16,698	16,441	14,536	13,972	10,671	10,265	10,013	7,538	6,473	6,076	5,734	4,780	9,709	3,766	4,444	3,732	3,335	2,539	2,285	2,012
Total operating expenses
155,504	160,568	155,896	158,671	155,233	146,433	144,876	150,959	148,530	144,638	135,493	130,710	119,921	116,974	111,785	113,942	105,830	100,973	99,173	94,699	89,286	78,888	74,517	71,827	63,703	55,538	49,644	45,876	41,134	46,200	33,370	34,414	33,780	28,621	25,216	22,505	21,039
Income from operations
5,781	5,803	3,183	3,070	8,099	15,639	6,699	5,625	4,489	7,191	5,570	3,285	10,303	13,199	11,288	10,477	10,822	15,029	8,087	9,666	8,236	12,338	9,213	8,411	9,074	12,493	9,914	10,933	9,983	2,957	8,890	6,211	3,794	6,107	5,940	6,407	4,436
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal
-	0	0	0	-	0	0	0	38,613	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income / (expense), net
513	2,816	465	584	896	-	-	-	-	1,637	130	1,510	455	-1,167	102	-212	-12	-3,360	-767	-57	-2,562	-532	-373	0	46	24	20	20	-12	-49	-3	2	3	2	1	1	6
Income before income taxes
6,294	8,619	3,648	3,654	8,995	16,687	6,916	-1,394	43,904	8,828	5,700	4,795	10,758	12,032	11,390	10,265	10,810	11,669	7,320	9,609	5,674	11,806	8,840	8,411	9,120	12,517	9,934	10,953	9,971	2,908	8,887	6,213	3,797	6,109	5,941	6,408	4,442
Provision for income taxes
1,976	4,266	-1,286	355	1,473	1,774	-531	-1,140	11,323	6,772	698	1,729	4,155	2,177	1,999	3,016	4,677	4,800	3,217	4,272	2,431	4,773	3,562	3,550	4,203	4,660	3,740	4,090	4,406	-26,111	146	141	86	321	253	273	189
Net income
4,318	4,353	4,934	3,299	7,522	14,913	7,447	-254	32,581	-	-	-	-	-	-	-	-	6,869	4,103	5,337	3,243	7,033	5,278	4,861	4,917	7,857	6,194	6,863	5,565	29,019	8,741	6,072	3,711	5,788	5,688	6,135	4,253
Undistributed earnings to participating stockholder
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2	12	9	10	11	21	18	22	19	-2,668	-77	-170	-1,172	491	-31	-1,899	-1,253
Preferred interest distributed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,950	2,263	1,688	2,100	956	1,312	3,000	1,875
Preferred interest accretion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	565	1,730	1,763
Net income available to common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	9,855	9,391	7,249	6,133	6,869	4,103	5,337	3,241	7,021	5,269	4,851	4,906	7,836	6,176	6,841	5,546	28,737	6,555	4,554	2,783	4,341	3,842	3,304	1,868
Earnings per share:
Distributed (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.27	0.33	0.24	0.30	0.14	0.19	0.43	0.27
Undistributed (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.22	0.18	0.20	0.17	0.61	-0.02	-0.02	-0.17	0.07	-0.01	-0.27	-0.18
Basic (in dollars per share)
0.12	0.12	0.14	0.09	0.21	0.43	0.21	-0.01	0.94	0.06	0.14	0.09	0.19	0.28	0.27	0.21	0.17	0.19	0.11	0.15	0.09	0.20	0.15	0.14	0.14	0.22	0.18	0.20	0.17	0.88	0.31	0.22	0.13	0.21	0.18	0.16	0.09
Distributed (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.27	0.33	0.24	0.30	0.14	0.19	0.43	0.27
Undistributed (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.22	0.18	0.20	0.16	0.61	-0.02	-0.02	-0.17	0.07	-0.01	-0.27	-0.18
Diluted (in dollars per share)
0.12	0.12	0.14	0.09	0.21	0.42	0.21	-0.01	0.92	0.06	0.14	0.09	0.19	0.27	0.26	0.20	0.17	0.19	0.11	0.15	0.09	0.20	0.15	0.14	0.14	0.22	0.18	0.20	0.16	0.88	0.31	0.22	0.13	0.21	0.18	0.16	0.09
Weighted average shares outstanding:
Basic (in shares)
35,521	35,478	35,309	35,232	35,114	35,047	34,991	34,913	34,784	34,686	34,643	34,581	34,597	35,089	35,036	34,957	35,375	35,975	36,040	35,864	35,635	35,452	35,304	35,149	35,027	34,935	33,692	33,471	33,398	32,497	20,849	20,849	20,849	20,849,242	20,849,242	20,849,242	20,849,242
Diluted (in shares)
35,882	35,786	35,541	35,504	35,491	35,421	35,570	34,913	35,318	35,149	35,177	35,250	35,595	35,881	35,824	35,642	36,099	36,468	36,270	36,340	36,193	36,001	35,931	35,875	35,839	35,619	34,280	34,040	33,851	32,681	20,849	20,849	20,849	20,849,242	20,849,242	20,849,242	20,849,242