Company name:
Shutterstock Inc
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IPO SHARE PRICE:$17.00
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IPO DATE:October 11, 2012
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TICKER:SSTK
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MAIN STOCK EXCHANGE:New York Stock Exchange
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CURRENT HQ LOCATION:350 Fifth Avenue 21st Floor New York NY 10118
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FISCAL YEAR END:December 31
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INCORPORATION JURISDICTION:DE
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ORGANIZED AS THE FOLLOWING LEGAL TYPE:Corporation
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Investor Relations Webpage:Coming soon!
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TAX RATE:USA federal corporate nominal income tax rate is 21%
Short Description
Shutterstock Inc
We are working hard and as soon as possible to provide company description soon. Feel free to reach out to request it sooner: improve@real-clear-investing.com
Statement of Cash Flow
(USD in thousand)
Selected Year:
31-Dec
2021
2021
OPERATING ACTIVITIES
Cash received and spent on operating activites of business — buying materials, paying salaries, receiving payments from clients, etc
39.0% -
Net income (loss)
20.7% -
Depreciation and amortization
15.4% -
Stock-based compensation
14.6% -
Accounts payable and other liabilities
9.8% -
Deferred revenue
0.4% -
Contributor royalties payable
0.1% -
Provision for (recovery of) bad debt expense
SOURCEs
20.7%
9.8%
14.6%
15.4%
39.0%
100 %
0%
USES
91.9%
5.6%
5.6% -
Prepaid expenses and other assets
1.7% -
Accounts receivable
0.8% -
Deferred income taxes
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (loss) | $20,108 | $71,766 | $91,883 | $91,883 | $67,544 | |||||||||
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Depreciation and amortization
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49,915 | 41,359 | 48,771 | 48,771 | 60,160 | |||||||||
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Amortization of deferred financing costs
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- | - | - | - | - | |||||||||
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Stock-based compensation
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22,815 | 28,309 | 36,179 | 36,179 | 38,160 | |||||||||
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Provision for (recovery of) bad debt expense
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84 | 2,580 | 137 | 137 | (180) | |||||||||
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Excess tax benefit related to stock-options compensation
Excess tax benefit related to stock-options compensation
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- | - | - | - | - | |||||||||
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Excess tax benefit from the exercise of stock options
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- | - | - | - | - | |||||||||
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Deferred income taxes
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(2,025) | 1,019 | (1,771) | (1,771) | (8,764) | |||||||||
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Write-off of property and equipment
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- | - | - | - | - | |||||||||
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Gain on sale of Webdam
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- | - | - | - | - | |||||||||
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Impairment of investment
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- | - | - | - | - | |||||||||
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Change in fair value of contingent consideration
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- | - | - | - | - | |||||||||
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Long-term incentives related to acquisitions
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- | (7,759) | - | - | - | |||||||||
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Settlement of contingent consideration liability in excess of acquisition-date fair value
Settlement of contingent consideration liability in excess of acquisition-date fair value
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- | - | - | - | - | |||||||||
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Chargeback and sales refund reserve
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- | - | - | - | - | |||||||||
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Chargeback reserve
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- | - | - | - | - | |||||||||
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Accounts receivable
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(6,169) | 513 | (4,093) | (4,093) | (9,860) | |||||||||
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Credit card receivables
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- | - | - | - | - | |||||||||
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Due from related parties
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- | - | - | - | - | |||||||||
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Prepaid expenses and other assets
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4,246 | 9,775 | (13,184) | (13,184) | (6,860) | |||||||||
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Contributor royalties payable
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2,168 | 1,075 | 898 | 898 | (1,208) | |||||||||
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Accounts payable and other liabilities
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8,360 | 8,587 | 34,444 | 34,444 | 39,220 | |||||||||
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Income tax payable
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- | - | - | - | - | |||||||||
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Deferred revenue
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3,144 | 7,848 | 23,108 | 23,108 | 39,844 | |||||||||
| Net cash provided by (used in) operating activities | $102,646 | $165,072 | $216,372 | $216,372 | $218,056 |
Selected Year:
31-Dec
2021
2021
INVESTING ACTIVITIES
Cash spent on acquiring plant, equipment and other businesses, cash recei0 from sale of plant, equipment and subsidiaries as well cash parked temporarily in different securities - government bonds typically
SOURCEs
0%
100 %
0%
USES
11.2%
72.5%
12.6%
3.5%
72.5% -
Business combinations net of cash
12.6% -
Acquisition of assets
11.2% -
Capital expenditures
3.5% -
Acquisition of digital content
0.1% -
Security deposit (payment) receipt
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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(Purchases) sale of investment securities
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- | - | - | - | - | |||||||||
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Sale of investment securities
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- | - | - | - | - | |||||||||
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Maturities and sales of investment securities
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- | - | - | - | - | |||||||||
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Other investments advances
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- | - | - | - | - | |||||||||
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(Purchases) sale of a long-term investment
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- | (5,000) | - | - | - | |||||||||
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Capital expenditures
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(26,081) | (25,630) | (28,125) | (28,125) | (27,832) | |||||||||
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Purchases of intangible assets
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- | - | - | - | - | |||||||||
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Acquisition of assets
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- | (1,850) | (31,639) | (31,639) | (796) | |||||||||
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Business and asset acquisitions
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- | (1,850) | - | - | - | |||||||||
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Acquisition of business net of cash
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- | - | - | - | - | |||||||||
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Acquisition of digital content
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(3,344) | (2,970) | (8,874) | (8,874) | (3,936) | |||||||||
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Sale of Webdam
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2,500 | - | - | - | - | |||||||||
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Business combinations net of cash
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- | - | (181,609) | (181,609) | 652 | |||||||||
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Security deposit (payment) receipt
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(309) | 140 | (191) | (191) | (212) | |||||||||
| Net cash provided by (used in) investing activities | ($27,234) | ($35,310) | ($250,438) | ($250,438) | ($32,124) |
Selected Year:
31-Dec
2021
2021
FINANCING ACTIVITIES
Items in this group are concerned with borrowing funds, repaying debt, issuing equity, buying back shares, etc.
2.7% -
Issuance of common stock from exercise of stock options
SOURCEs
97.3%
100 %
0%
USES
0.0%
38.4%
28.5%
33.2%
38.4% -
Dividends paid
33.2% -
Stock repurchases
28.5% -
Employee withholding taxes paid on share-based compensation
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Initial Public Offering (IPO) net
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- | - | - | - | - | |||||||||
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Secondary (Follow-on) Public Offering net
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- | - | - | - | - | |||||||||
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Issuance of common stock
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- | 23,153 | - | - | - | |||||||||
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Issuance of common stock under Employee Stock Purchase Plan (ESPP)
Issuance of common stock under Employee Stock Purchase Plan (ESPP)
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- | - | - | - | - | |||||||||
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Issuance of common stock from exercise of stock options
Issuance of common stock from exercise of stock options
|
5,365 | 1,171 | 2,148 | 2,148 | 520 | |||||||||
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Proceeds from issuance of common stock upon exercise of stock options
Proceeds from issuance of common stock upon exercise of stock options
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5,365 | - | - | - | - | |||||||||
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Payment of offering fees
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- | - | - | - | - | |||||||||
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Borrowing under Term Loan
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- | - | - | - | - | |||||||||
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Repayment of Term Loan
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- | - | - | - | - | |||||||||
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Fees and costs related to Term Loan
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- | - | - | - | - | |||||||||
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Contingent consideration payment
|
- | - | - | - | - | |||||||||
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Employee withholding taxes paid on share-based compensation
Employee withholding taxes paid on share-based compensation
|
(7,061) | (4,510) | (22,726) | (22,726) | (5,812) | |||||||||
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Excess tax benefit from stock-based compensation
|
- | - | - | - | - | |||||||||
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Dividends paid
|
- | (24,401) | (30,651) | (30,651) | (30,604) | |||||||||
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Special dividend paid
|
- | - | - | - | - | |||||||||
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Members distributions
|
- | - | - | - | - | |||||||||
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Stock repurchases
|
- | - | (26,493) | (26,493) | (89,288) | |||||||||
| Net cash provided by (used in) financing activities | ($1,696) | ($4,587) | ($77,722) | ($77,722) | ($125,184) |
Selected Year:
31-Dec
2021
2021
NET CHANGE IN CASH
Grand Total for sum of cash flows coming from operations, investing and financing
($114,557,000)
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents - Beginning of period | $233,465 | $305,874 | $428,574 | - | $1,202,316 | |||||||||
| Effect of changes in foreign exchange rates on cash | (1,307) | (2,475) | (2,769) | - | (6,996) | |||||||||
| (Decrease) increase in cash and cash equivalents | 72,409 | 122,700 | (114,557) | - | 53,752 | |||||||||
| Cash and equivalents - End of period | $305,874 | $428,574 | $314,017 | - | $1,256,068 |