Shutterstock ( (SSTK) ) has shared an announcement.
Shutterstock, Inc. has announced record revenues and adjusted EBITDA for Q3 2024, driven by its recent acquisition of Envato and the addition of an unlimited multi-asset subscription to its product suite. Despite a dip in net income due to acquisition costs, the company has raised its financial guidance for 2024, signaling continued growth. CFO Jarrod Yahes will be stepping down, with Rik Powell, a seasoned financial leader with experience at Shake Shack and Getty Images, set to replace him. The company’s cash flow has increased significantly, supporting future growth and shareholder returns.
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