What guidance did Getty Images's management provide for the next earnings period?

What factors drove the changes in Getty Images's revenue and profit?

Did Getty Images beat or miss consensus estimates last quarter?

What is Getty Images's gross profit margin?

What is the market's earnings forecast for Getty Images next quarter?

What were the key takeaways from Getty Images’s earnings call?

What is the revenue and EPS growth rate for Getty Images year over year?

What does Getty Images do and what are its main business segments?

- **Record Performance**: 2025 revenue $981.3 million (+4.5% YoY), Q4 $282.3 million (+14.1% YoY). Adjusted EBITDA $320.9 million, margin 32.7%.
- **Strategic Deals**: $65 million multiyear licensing agreements drove $40 million Q4 revenue, with $10 million recurring 2026 impact.
- **Subscription Growth**: Annual subs up 1% YoY, Unsplash+ +30%. Subscription mix 48.6% of Q4 revenue.
- **2026 Outlook**: Revenue $948-$988 million (-3.4% to +0.6% YoY), EBITDA $279-$295 million (-12.9% to +8.1% YoY). Core growth expected post-deal impact.
- **AI and Editorial**: No editorial content for AI training; creative content integrated into LLMs and social media.

**【CEO Summary Section】**
- **Record Revenue Growth**: Full-year 2025 revenue reached $981.3 million, up 4.5% YoY, with Q4 revenue of $282.3 million (+14.1% YoY). Adjusted EBITDA was $320.9 million, margin 32.7%.
- **Strategic Deals**: Secured two multiyear licensing agreements in Q4, contributing $40 million in Q4 revenue and $65 million total deal value. One with a major social platform for display rights, the other with an AI company for data and creative content.
- **Subscription Expansion**: Annual subscription revenue grew 1% YoY, with Premium Access up 4.1% in Q4. Unsplash+ subscribers exceeded 50,000, up 30% YoY. Subscription mix was 48.6% of Q4 revenue.
- **Event Success**: Captured 6 million images at the Winter Olympics, showcasing editorial strength and customer demand for exclusive content.
- **AI Integration**: Expanded machine learning capabilities for editorial search, improving customer experience and recurring revenue streams.
- **Merger Update**: UK regulatory review delayed, but transaction remains on track with proposed remedies. 2026 guidance excludes Shutterstock results.

**【CFO Financial Commentary】**
- **Q4 Financials**: GAAP net income $420 million, Non-GAAP EPS $1.08 (vs. $0.95 guidance). Adjusted EBITDA $104.1 million (+29.1% YoY), margin 36.9%.
- **Revenue Breakdown**: Creative $149 million (+4.6% YoY), Editorial $109.4 million (+21.4% YoY), Other $23.9 million (+68.4% YoY). Americas region up 20.8% YoY, driven by deals.
- **Cost Management**: SG&A expense rate 39.5% of revenue (vs. 42.7% YoY). Adjusted EBITDA less CapEx margin 32.3%.
- **2026 Guidance**: Revenue $948-$988 million (-3.4% to +0.6% YoY), Adjusted EBITDA $279-$295 million (-12.9% to +8.1% YoY). Excluding deal impact, core revenue growth expected.
- **Liquidity**: $90.2 million cash, $2.01 billion debt, net leverage 4.0x. 2026 cash interest $188 million.

**【Q&A Key Highlights】**
- **Licensing Deals**: CEO emphasizes long-term value of social media and AI partnerships, with potential for more deals in 2026. CFO notes $10 million recurring revenue from 2025 deals in 2026.
- **Subscription Decline**: 278,000 active annual subscribers (-11% YoY) due to June 2025 end of free trials. Retention rate 89.9% (vs. 92.9% YoY) impacted by one-time events.
- **AI and Editorial**: CEO reaffirms no editorial content licensing for AI training, but creative content used in LLMs and social media. Editorial events calendar supports 2026 growth.
- **Risk Management**: CFO highlights macroeconomic risks in 2026 guidance, with no assurance on broader market impacts.

Getty Images Holdings, Inc. (GETY) Q4 2025 Earnings Call Transcript

- **Revenue Stability**: Q3 revenue flat at $240 million, with creative growth offsetting editorial declines.
- **AI Expansion**: New deals with Perplexity and custom content partners highlight AI-driven opportunities.
- **Merger Delay**: Shutterstock merger pushed to 2026 due to regulatory review.
- **Segment Challenges**: Agency down 22% YoY, media segment lagging pre-strike levels.
- **Guidance Update**: Full-year EBITDA expected to decline 3%-2.3% YoY.

**【Management Opening Remarks】**
- CEO Craig Peters highlighted Q3 2025 revenue of $240 million, down 0.2% YoY, with adjusted EBITDA of $78.7 million (-2.4% YoY). Creative segment grew 17% YoY, offsetting editorial declines due to tough comparisons. AI data licensing revenue was down from 2024, but new deals with Perplexity and custom content partners were signed. The merger with Shutterstock faces a Phase 2 regulatory review, delaying close to 2026.

**【CFO Financial Commentary】**
- CFO Jennifer Leyden reported annual subscription revenue growth of 11.2% YoY, driven by premium access renewals. Agency revenue declined 22% YoY due to macro uncertainty. Media segment (broadcast and production) remained below pre-Hollywood strike levels. Adjusted EBITDA margin was 32.8%, with $8 million in one-time SOX compliance costs. Full-year guidance: revenue $942-951 million (0.3%-1.2% YoY growth), adjusted EBITDA $291-293 million (-3% to -2.3% YoY).

**【Q&A Key Highlights】**
- **AI Strategy**: CEO emphasized AI deals as a new revenue stream, with Perplexity partnership and custom content training for AI models. Bundling AI tools with iStock subscriptions may drive retention, though early-stage impact.
- **Customer Segments**: Corporate retention rates remain strong (>90%), while media segment struggles with production lags. Agency business decline reflects macro challenges.
- **Creative Recovery**: Q3 creative growth (17% YoY) due to premium access mix normalization and a large renewal, but agency-driven softness expected to persist in Q4.

Getty Images Holdings, Inc. (GETY) Q3 2025 Earnings Call Transcript

- **Revenue Resilience**: Q2 revenue $234.9M (+2.5% YoY), with 53.5% of revenue from subscriptions (up 3.7% YoY). Corporate and media growth offset agency decline.
- **AI Innovation**: Bundled AI services launched on iStock; 70% of AI usage for pre-shot modifications. Litigation focuses on U.S. model training transparency.
- **Event Momentum**: Exclusive coverage of major sports and entertainment events drove editorial growth (+5.6% YoY).
- **Merger Progress**: Shutterstock merger approvals expected by end-2025; no financial impact until integration begins.
- **Financial Caution**: Free cash flow negative $9.6M due to merger and litigation costs; 2025 guidance reflects tougher comps in second half.

**【CEO Summary Section】**
- Q2 2025 revenue: $234.9 million (+2.5% YoY), with adjusted EBITDA of $68 million (-1.2% YoY). Growth driven by corporate and media segments, offset by soft agency demand.
- Subscription revenue: 53.5% of total, up 3.7% YoY, with 39,000 new annual subscribers (total 321,000). Premium access and Unsplash+ saw strong gains.
- AI advancements: Upgraded AI suite with 70% usage for pre-shot modifications; bundled AI services launched on iStock.
- Major events: Exclusive coverage of Formula 1, Coachella, Met Gala, and FIFA Club World Cup. Expanded partnership with Bloomberg for video content.
- Merger update: Shutterstock shareholders approved merger; regulatory approvals expected by end-2025.

**【CFO Financial Commentary】**
- **Revenue Breakdown**: Creative ($130.8M, -5.1% YoY), Editorial ($88.3M, +5.6% YoY), Other ($15.7M, +107% YoY). Other revenue driven by multiyear AI-enabled content deals.
- **Subscription Metrics**: Annual subscriber retention rate 93.4% (vs. 89.4% YoY), with premium access retention >100% for first time since 2023.
- **Costs**: SG&A $105.1M (+3.8% YoY), driven by SOX compliance and litigation expenses. Free cash flow negative $9.6M due to merger-related costs.
- **Debt**: $1.39B outstanding, net leverage 4.3x. 2025 cash interest expense $123.1M, down $10M from prior estimate.
- **Guidance**: 2025 revenue $931M-$968M (flat to +3% YoY), adjusted EBITDA $277M-$297M (-8% to +1% YoY). Second half faces tougher comps due to 2024 strike recovery and production delays.

**【Q&A Highlights】**
- **Creative vs. Data Licensing**: Creative decline (-5% YoY) driven by agency weakness; data licensing growth in corporate subscriptions. Editorial a la carte strong, but agency-driven creative a la carte lagged.
- **Subscription Mix**: 53.5% of revenue, with iStock and Unsplash+ leading. Smaller e-commerce subs stabilize retention rates.
- **Litigation Strategy**: Dropped U.K. copyright claims due to lack of local training evidence; pursuing U.S. case for model training on Getty content.
- **Merger Impact**: No financial guidance for Shutterstock integration; focus on standalone execution until merger closes.


Getty Images Holdings, Inc. (GETY) Q2 2025 Earnings Call Transcript

- **Q1 Revenue Resilience**: $224.1M (+0.8% YoY) with 57.2% of revenue from subscriptions. 
- **Subscription Growth**: 318K annual subscribers (+21% YoY), 92.7% retention rate. 
- **AI Penetration**: Low-single digit customer adoption, $10M+ in incremental revenue. 
- **Litigation Watch**: UK trial June 2025; US Copyright Office supports Getty's fair use defense. 
- **2025 Outlook**: Revenue $931-968M (currency-neutral -1% to +3%), EBITDA $277-297M.

**【CEO Summary Section】**
- Q1 2025 revenue: $224.1 million (0.8% YoY growth, 2.6% currency-neutral). Adjusted EBITDA: $70.1 million (-0.1% YoY, +2.2% currency-neutral). 
- Annual subscription revenue: 57.2% of total, up from 54.7% in Q1 2024. Active annual subscribers: 318,000 (LTM), +21% YoY. 
- Key growth drivers: corporate sector (premium access, Unsplash+), video demand, sports partnerships (WWE, MLS, F1). 
- Regulatory update: DOJ and CMA requests for merger with Shutterstock info; expects close in H2 2025. 

**【CFO Financial Commentary】**
- Subscription revenue: +5.4% YoY, driven by premium access. Video attachment rate: 16.7% (vs. 14% Q1 2024). 
- Creative segment: -4.8% YoY due to agency weakness. Media segment: -mid-single digits due to LA fires. 
- Expense management: SG&A rate 43.9% (vs. 45.4% Q1 2024). Free cash flow: -$0.3 million (vs. $7.1 million Q1 2024) due to merger costs. 
- 2025 Outlook: Revenue $931-968 million (currency-neutral -1% to +3%). Adjusted EBITDA $277-297 million (-7.6% to +1.2% YoY). 

**【Q&A Key Takeaways】**
- Subscription growth slowing: corporate segment strong, iStock testing a la carte mix. 
- AI adoption: low-single digit customer penetration, revenue in single-digit millions. 
- Litigation update: UK trial June 2025; US timing TBD. US Copyright Office supports Getty's fair use stance. 
- Macro impact: agency business down high single-digits, media recovery post-LA fires. 
- Tariff uncertainty: no direct impact; broader macro baked into guidance.

Getty Images (GETY)-12 May 25-2025 Q1 Earnings call transcript

- **Revenue Resilience**: Q4 2024 revenue up 9.5% YoY to $247.3M, full year $939.3M (+2.5%). Adjusted EBITDA margin 32%.
- **Subscription Surge**: Annual subscribers +33% LTM to 314K, with 54% new customers and 92.9% retention.
- **Debt Optimization**: Net leverage below 4x for first time, post $1B refinancing to 2030 maturities.
- **AI Growth**: Customers using AI to modify images, with double-digit subscription growth in iStock and Unsplash+.
- **2025 Outlook**: Revenue $918-955M (-2.3% to +1.6%), EBITDA $272-290M (-9.5% to +3.3%), with risks from media production delays and macro softness.

**【CEO Summary Section】**
- Q4 2024 revenue reached $247.3 million, up 9.5% YoY, with full year revenue of $939.3 million (+2.5% YoY). Adjusted EBITDA was $80.6 million in Q4 (+11.7% YoY) and $300 million annually (32% margin). 
- Annual subscribers grew to 314,000 (+33% LTM), with 54% new customers and 32% in high-growth markets. Retention rate improved to 92.9%.
- Completed $1 billion debt refinancing, extending maturities to 2030 and reducing net leverage to 3.97x (below 4x for first time in a decade).
- Announced merger with Shutterstock, positioning for margin expansion and balance sheet deleverage.

**【CFO Financial Commentary】**
- Q4 GAAP revenue growth driven by Americas (+15.9% YoY) and strong editorial demand (+19% YoY). Creative revenue declined 2.4% due to editorial shift, but iStock and Unsplash+ subscriptions grew 10.7% and double-digits respectively.
- Gross margin remained strong at 73.5%, with SG&A expense rate improving to 42.7% (down 230bps YoY). Free cash flow was $24.6 million in Q4, up 32% YoY.
- 2025 guidance: Revenue $918-955 million (-2.3% to +1.6% YoY), Adjusted EBITDA $272-290 million (-9.5% to +3.3% YoY). Includes $8 million one-time SOX compliance costs.

**【Q&A Highlights】**
- **AI Adoption**: Modest but accelerating, with customers using AI to modify images and insert products. Uptake exceeds expectations for corporate use cases.
- **Q4 Outperformance**: Driven by strong top-line growth (event calendar, media recovery), favorable gross margin mix, and $10.4 million in new multi-year deals.
- **2025 Risks**: Los Angeles fires disrupting media production, lingering Hollywood strike impacts, and macroeconomic softness in Agency sector (-6.5% Q4 for WPP).

Actual	0.0906	-0.51	-0.06	0.01	-0.01	-0.05	0.09	0.03	0.01	-0.01	0.06	-0.14	0.05	0.08	-0.01
Forecast	0.21	0.0892	0.0367	0.0417	0.0423	0.0284	0.0215	0.0329	0.0374	0.0464	0.0484	0.0574	0.0176	0.0469	0.03
Surprise	-56.86%	-671.75%	-263.49%	-76.02%	-123.64%	-276.06%	+318.60%	-8.81%	-73.26%	-121.55%	+23.97%	-343.90%	+184.09%	+70.58%	-133.33%

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GETY

GETY fundamentals

GETY Q4 2025 Earnings

Earnings Call

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GETY Earnings Call Summary for Q4/20244:30 PM on Mar 17, 2025

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