Getty Images Holdings Earnings Call Transcripts
Fiscal Year 2025
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Record 2025 revenue and EBITDA exceeded guidance, driven by strong licensing deals and editorial growth. 2026 outlook reflects tough comps from accelerated Q4 revenue, but core business is expected to grow, with continued investment in technology and partnerships.
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Q3 2025 revenue was flat year-over-year at $240 million, with creative growth offset by editorial and agency declines. Adjusted EBITDA margin was 32.8%, and new AI licensing deals were signed. Merger with Shutterstock faces regulatory delays, pushing closing to 2026.
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The meeting was held virtually, with a quorum established and all agenda items, including director elections and auditor ratification, approved. No questions were submitted by stockholders during the Q&A session.
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Q2 2025 saw 2.5% revenue growth and strong subscription momentum, offset by agency weakness and higher legal costs. Guidance for 2025 remains unchanged, with expected revenue of $931–$968 million and adjusted EBITDA of $277–$297 million.
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Q1 2025 saw modest revenue growth and strong subscription momentum, offset by declines in creative and agency segments due to macro uncertainty and the LA fires. Guidance for 2025 remains unchanged, with ongoing regulatory review of the Shutterstock merger and steady progress in AI adoption.
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The merger creates a global leader in visual content, combining complementary strengths in exclusive content, technology, and AI. Expected cost synergies of $150–$200 million, expanded reach, and a stronger financial profile position the company for accelerated growth and innovation.
Fiscal Year 2024
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Q4 revenue grew 9.5% year-over-year, with strong adjusted EBITDA and margin improvement. Full-year results exceeded guidance, driven by editorial strength and subscription growth, while refinancing reduced net leverage below four times. 2025 guidance anticipates flat to modest growth amid FX and event-driven headwinds.
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Q3 2024 saw 4.9% revenue growth to $240.5M and a 33.5% EBITDA margin, driven by strong subscription and editorial performance. Guidance for full-year revenue and EBITDA was raised, with continued investment in AI and deleveraging.
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Q2 2024 saw a return to revenue growth, driven by strong editorial recovery and expanding subscription revenue. Adjusted EBITDA declined year-over-year, but margins remained robust. Outlook for H2 2024 is positive, with major events and gradual recovery in agency and production channels expected to support growth.