The revenue miss and wide EPS miss are bearish, but the maintained full-year guidance and improved free cash flow provide a floor. The CMA Phase 2 extension to June 14 is the key catalyst — a negative ruling could kill the Shutterstock merger, while clearance would remove a major overhang. Monitor the CMA final decision and Q2 trends in creative revenue.
Price Chart
Executive Summary
Getty Images reported Q1 2026 revenue of $226.6M (+1.1% YoY), slightly below consensus of $238.8M, and a GAAP net loss of $4.4M ($-0.01 EPS) vs. a $102.6M loss in Q1 2025. The headline EPS of $-0.22 missed the $0.00 consensus by a wide margin, but this includes large non-cash items; adjusted EBITDA fell 12.2% to $61.6M. The company maintained full-year 2026 guidance of $948M-$988M revenue and $279M-$295M adjusted EBITDA, but the CMA merger review extension and a $110.9M warrant litigation payment add overhang.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $226.6M (+1.1% YoY, -2.5% currency neutral) vs. consensus $238.8M — a miss of ~5.1%
- GAAP EPS $-0.22 vs. consensus $0.00 — a 6177% miss (driven by non-cash items, but headline miss is severe)
- Adjusted EBITDA $61.6M, down 12.2% YoY; margin compressed to 27.2% from 31.3%
- Creative revenue declined 4.5% YoY; Editorial grew 11.0%
- Annual subscription revenue rose to 57.4% of total, up from 57.2%
- Full-year 2026 guidance maintained: revenue $948M-$988M, adjusted EBITDA $279M-$295M
- Paid $110.9M in warrant litigation judgment on April 23, 2026; drew $120M from revolver
- CMA Phase 2 review extended to June 14, 2026; merger with Shutterstock still expected to close in 2026
- Free cash flow improved to $24.0M from -$0.3M YoY
- Total debt $2.0B; available liquidity $246.6M
Financial Impact
Revenue miss of ~$12.2M vs consensus; adjusted EBITDA down 12.2% YoY; $110.9M litigation payment drawn from revolver
Risk Factors
- CMA Phase 2 review could block or impose onerous conditions on Shutterstock merger
- Creative revenue decline accelerating (-4.5% YoY) signals structural headwinds
- High debt load ($2.0B) with rising interest expense ($54.2M in Q1, up 66% YoY)
- Warrant litigation overhang persists despite $110.9M payment
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3292343 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 31, 2026 4w ago | 8-K | $0.2354 $0.0829 | ▲ +64.78% | ▲ +64.89% | $0.0800 (+66.02%) |
Aug 10, 2026 7w ago | 8-K | $0.2878 $0.2601 | ▲ +9.62% | ▲ +8.57% | $0.0800 (+72.20%) |
Jul 23, 2026 10w ago | Press Release | $0.4401 $0.2637 | ▼ −40.08% | ▼ −43.71% | $0.0800 (−81.82%) |
Jul 7, 2026 12w ago | 8-K | $0.8461 $0.4161 | ▲ +50.82% | ▲ +52.15% | $0.0800 (+90.54%) |
Jul 1, 2026 13w ago | Insider Cluster | $0.7700 $0.3787 | ▼ −50.82% | ▼ −48.63% | $0.0800 (−89.61%) |
Jun 30, 2026 13w ago | 425 / 8-K | $0.7700 $0.3787 | ▲ +50.82% | ▲ +48.63% | $0.0800 (+89.61%) |
Jun 22, 2026 14w ago | Press Release | $1.15 $0.5161 | ▼ −55.12% | ▼ −54.97% | $0.0800 (−93.04%) |
Jun 10, 2026 16w ago | 8-K | $0.7594 $0.7800 | ▼ −2.71% | ▼ −0.82% | $0.0800 (+89.47%) |
Jun 5, 2026 16w ago | 144 | $0.7799 $0.9157 | ▲ +17.41% | ▲ +15.78% | $0.0800 (−89.74%) |
May 27, 2026 18w ago | Press Release | $1.16 $0.9891 | ▼ −14.73% | ▼ −12.83% | $0.0800 (−93.10%) |
US Market Status
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