Q3 2025 Getty Images Holdings Inc Earnings Call Transcript
Key Points
- Getty Images Holdings Inc (GETY) reported a slight increase in annual subscription revenue, which now accounts for 58.4% of total revenue, up from 52.4% in the previous year.
- The company inked multiple deals to allow AI large language models and search experiences to utilize their content, including a multiyear agreement with Perplexity.
- Getty Images Holdings Inc (GETY) saw growth in its creative segment, driven by premium access revenue and a multiyear agreement with significant upfront revenue recognition.
- The company reported a positive free cash flow of $7.9 million, an improvement from negative $1.8 million in the same quarter last year.
- Getty Images Holdings Inc (GETY) successfully extended the maturities on its senior unsecured notes, positioning itself for the pending merger with Shutterstock.
- Third-quarter revenue for 2025 was $240 million, representing a slight year-over-year decrease of 0.2% and 2% on a currency-neutral basis.
- Adjusted EBITDA decreased by 2.4% reported and 4.4% on a currency-neutral basis, with a margin of 32.8% of revenue.
- The company's editorial revenue declined by 3.7% year on year, driven by double-digit decreases in news and sports segments.
- Getty Images Holdings Inc (GETY) faced ongoing declines in its agency business, which declined 22% year on year.
- The proposed merger with Shutterstock has been referred to a Phase 2 review by the UK's Competition and Markets Authority, delaying the transaction close into 2026.
Good afternoon, and welcome to Getty Images third-quarter 2025 earnings conference call. Today's call is being recorded. (Operator Instructions)
At this time, I'd like to turn the conference over to Steven Kanner, VP of Investor Relations, Treasury at Getty Images. Thank you. You may begin.
Good afternoon, and welcome to the Getty Images third-quarter 2025 earnings call. Joining me on today's call are Craig Peters, Chief Executive Officer; and Jenn Leyden, Chief Financial Officer. Before we begin, we would like to note that due to the ongoing regulatory review process, we will not be able to comment on the Q3 2025 Shutterstock operating results. We appreciate your understanding.
This call will include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to various risks, uncertainties and assumptions, which could cause our actual results to differ materially from these
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