Latest news with #GettyImagesHoldings
Business Insider
2 days ago
- Business
- Business Insider
Shutterstock's stockholders approve merger agreement with Getty Images
Shutterstock (SSTK) announced that Shutterstock's stockholders approved the adoption of the merger agreement between Shutterstock and Getty Images Holdings (GETY) with approximately 82% of the issued and outstanding shares of Shutterstock common stock voting in favor, at today's special meeting of Shutterstock stockholders. Stockholder approval marks an important milestone in the process of combining Shutterstock and Getty Images to create a premier visual content company. The combined company will be well-positioned to meet the ever-changing needs of customers through combined investment in content creation, event coverage, and product and technology innovation. Both parties continue to expect the transaction to close in the second half of 2025, subject to required regulatory approvals and other customary conditions. The final voting results will be reported on a Form 8-K filed with the SEC.
Yahoo
13-05-2025
- Business
- Yahoo
Getty Images Holdings, Inc. (NYSE:GETY) most popular amongst private companies who own 43% of the shares, institutions hold 31%
Significant control over Getty Images Holdings by private companies implies that the general public has more power to influence management and governance-related decisions 63% of the business is held by the top 2 shareholders Recent sales by insiders We've discovered 1 warning sign about Getty Images Holdings. View them for free. To get a sense of who is truly in control of Getty Images Holdings, Inc. (NYSE:GETY), it is important to understand the ownership structure of the business. And the group that holds the biggest piece of the pie are private companies with 43% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). Meanwhile, institutions make up 31% of the company's shareholders. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. In the chart below, we zoom in on the different ownership groups of Getty Images Holdings. View our latest analysis for Getty Images Holdings Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. Getty Images Holdings already has institutions on the share registry. Indeed, they own a respectable stake in the company. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Getty Images Holdings, (below). Of course, keep in mind that there are other factors to consider, too. Hedge funds don't have many shares in Getty Images Holdings. Our data shows that Getty Investments LLC is the largest shareholder with 43% of shares outstanding. With 20% and 3.1% of the shares outstanding respectively, Spring Creek Capital, LLC and Mark Getty are the second and third largest shareholders. Mark Getty, who is the third-largest shareholder, also happens to hold the title of Chairman of the Board. To make our study more interesting, we found that the top 2 shareholders have a majority ownership in the company, meaning that they are powerful enough to influence the decisions of the company. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own some shares in Getty Images Holdings, Inc.. It has a market capitalization of just US$776m, and insiders have US$61m worth of shares, in their own names. This shows at least some alignment. You can click here to see if those insiders have been buying or selling. With a 18% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Getty Images Holdings. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. Our data indicates that Private Companies hold 43%, of the company's shares. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 1 warning sign with Getty Images Holdings , and understanding them should be part of your investment process. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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Yahoo
12-05-2025
- Business
- Yahoo
Getty Images Reports First Quarter 2025 Results
Q1 Revenue Growth of 0.8%, Currency Neutral Growth of 2.6% Q1 Annual Subscription Revenue Growth of 5.4%, Currency Neutral 7.2% Annual Subscription Revenue Rose to 57.2% of Total Revenue in Q1 Updates 2025 Guidance to Reflect FX Impacts, while Reaffirming Currency Neutral Revenue Growth Outlook NEW YORK, May 12, 2025 (GLOBE NEWSWIRE) -- Getty Images Holdings, Inc. ('Getty Images' or the 'Company') (NYSE: GETY), a preeminent global visual content creator and marketplace, today reported financial results for the first quarter ended March 31, 2025. 'Results in the first quarter were consistent with our expectations, with growth highlighted by gains across our subscription business, and continued customer value delivered through our offerings,' said Craig Peters, Chief Executive Officer for Getty Images. 'We remain committed to investing in the core assets of our company and continuing to evolve our offering in ways that deepen our relevance for our customers. We believe this strategy positions us well to achieve our 2025 outlook and beyond.' 'We delivered a solid performance during a challenging start to the year, with positive operating metrics and a growing annual subscription business,' said Jenn Leyden, Chief Financial Officer for Getty Images. 'Looking ahead to the rest of 2025, we are optimistic about the opportunities to build momentum and expand our customer base, while recognizing the need to focus on execution in the current environment and maintain our financial discipline.' First Quarter 2025 Financial Summary: Revenue of $224.1 million increased 0.8% year over year and 2.6% on a currency neutral basis. Creative revenue of $132.2 million, down 4.8% year over year and down 3.0% on a currency neutral basis. Editorial revenue of $82.6 million, up 4.0% year over year and 5.6% on a currency neutral basis. Annual Subscription Revenue as a percentage of total revenue grew to 57.2% up from 54.7% in Q1'24. Net Loss of $102.6 million, compared to a Net Income of $13.6 million in Q1'24. Included in the Q1'25 results are: $53.4 million increase in tax expense primarily due to foreign withholding taxes, nondeductible interest, and changes in valuation allowance, $41.5 million increase in foreign exchange loss primarily due to revaluation of the Euro Term Loan, $13.7 million decrease in income from operations primarily due to approximately $18.0 million of merger related expenses in Q1'25, and $5.5 million increase in loss on extinguishment of debt tied to the Q1'25 Term Loan refinancing. Net Loss Margin for Q1'25 was 45.8% compared to Net Income Margin of 6.1% in Q1'24. On a non-GAAP basis, adjusted Net Loss* was $58.3 million, as compared to $10.7 million adjusted Net Income* in the prior year. Adjusted EBITDA* of $70.1 million, slightly down 0.1% year over year and up 2.2% on a currency neutral basis. Adjusted EBITDA Margin* remained strong at 31.3% for Q1'25 compared to 31.6% in the prior year period. Adjusted EBITDA less capex* was $54.4 million, down 2.4% year over year and up 0.5% on a currency neutral basis. Liquidity and Balance Sheet: Net cash provided by operating activities of $15.4 million in Q1'25, compared to $21.5 million in the prior year period. Free cash flow* of $(0.3) million in Q1'25, compared to $7.1 million in the prior year period. Ending cash balance on March 31, 2025 was $114.6 million, down $6.6 million from the ending balance on December 31, 2024 and down $19.6 million from March 31, 2024. The year-on-year decrease was driven in large part by $55.2 million of voluntary debt paydowns over the past twelve months and $12.5 million of outflows related to the refinancing transaction completed in Q1 2025. The Company has $150.0 million available through its Revolver, which remains undrawn, for total available liquidity of $264.6 million. During the quarter, the company completed the refinancing of its existing term loan structure, replacing its old term loans, which were set to mature in February 2026, with new loans now maturing in February 2030. Total debt was $1.36 billion, which included $300.0 million in senior notes and a Term Loan balance of $1.06 billion, consisting of $580.0 million in USD and $476.1 million in USD equivalent of Euros, converted using exchange rates as of March 31, 2025. On May 5, 2025, the Company completed a permitted voluntary loan to bond exchange for its $580 million of USD fixed rate loans. In total, $539.9 million of loans were exchanged into new fixed rate notes with the same 2030 maturity and 11.25% interest rate as the USD fixed rate loans. * Non-GAAP Net Income (Loss), Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EBITDA less capex, and Free Cash Flow are non-GAAP financial measures. Refer to the Reconciliation of GAAP and Non-GAAP Financial Measures section below. Key Performance Indicators (KPIs) Our KPIs outlined below are the metrics that provide management with the most immediate understanding of the drivers of business performance and our ability to deliver shareholder return, track to financial targets and prioritize customer satisfaction. KPI comparisons for the last twelve months ended March 31, 2024 reflect continued impact of Hollywood strike. Last Twelve Months Ended March 31, 2025 2024 Increase / (Decrease) LTM total purchasing customers (thousands)1 708 769 (7.9 )% LTM total active annual subscribers (thousands)2 318 262 21.2 % LTM paid download volume (millions)3 93 95 (2.7 )% LTM annual subscriber revenue retention rate4 92.7 % 90.0 % 270 bps Image collection (millions)5 582 544 6.9 % Video collection (millions)5 34 29 16.3 % LTM video attachment rate6 16.7 % 14.0 % 270 bps Annual subscription – includes products and subscriptions for 12 months or longer, Unsplash API, and Custom Content. 1 The count of total customers who made a purchase within the reporting period based on billed revenue. 2 The count of customers who were on an annual subscription product during the reporting period. 3 A count of the number of paid downloads by our customers in the reporting period. Excludes downloads from Editorial Subscriptions, Editorial feeds and certain API structured deals, including bulk unlimited deals. Excludes downloads related to an agreement signed with Amazon, as the magnitude of the potential download volume over the deal term could result in significant fluctuations in this metric without corresponding impact to revenue in the same period.4 This calculates retention of total revenue for customers on an annual subscription product, comparing the customer's total billed revenue (inclusive of both annual subscription and non-annual subscription products) in the LTM period to the prior LTM period.5 A count of the total images and videos in our content library as of the reporting date.6 A measure of the percentage of total paid customer downloaders who are video downloaders. First Quarter 2025 and Other Recent Business Highlights: Signed new exclusive partnerships with WWE, Major League Soccer and National Women's Soccer League and renewed long-standing partnership with UEFA. Returned as partners to the Academy of Motion Picture Arts and Sciences, the Elton John AIDS Foundation Oscar Party, the Vanity Fair Oscar Party, GRAMMYs and BAFTAs. Renewed content partnerships with the Boston Globe and MTV and welcomed new video partner Bader Media. Financial Outlook for Full Year 2025 The following tables summarize Getty Images' updated fiscal year 2025 guidance: Updated 2025 Guidance Prior 2025 Guidance Revenue $931 million to $968 million $918 million to $955 million Revenue YoY -0.9% to 3.1% -2.3% to 1.6% Revenue YoY, Currency Neutral -1.0% to 3.0% -1.0% to 3.0% Adjusted EBITDA $277 million to $297 million $272 million to $290 million Adjusted EBITDA YoY -7.6% to -1.2% -9.5% to -3.3% Adjusted EBITDA YoY, Currency -7.9% to -1.4% -8.0% to -1.7% The updated guidance has been prepared based on the following foreign currency exchange rates: the Euro at 1.10 and GBP at 1.30, compared to the Euro at 1.05 and GBP at 1.26 in the prior guidance. In addition, the Adjusted EBITDA guidance continues to include approximately $8.0 million of one-off increases in SG&A as the Company accelerates its SOX compliance efforts in 2025. This acceleration is to prepare for what the Company anticipates being a necessary shift in resources and focus on merger and integration related activities upon the expected close of the transaction with Shutterstock. Previously Announced Merger Agreement with Shutterstock On January 7, 2025, Getty Images announced that it entered into a merger agreement with Shutterstock to combine in a merger of equals transaction, creating a premier visual content company. On April 2, 2025, Getty Images announced that the Company and Shutterstock, Inc had each received a Request for Additional Information and Documentary Material (Second Request) from the U.S. Department of Justice in connection with the proposed merger. Following submission of a briefing paper, on April 22, 2025, the United Kingdom Competition and Markets Authority invited Getty Images to submit a Merger Notice and their review process is ongoing. Getty Images and Shutterstock intend to continue working cooperatively with the DOJ and other non-US regulators to obtain regulatory clearance for the proposed merger as expeditiously as possible. The proposed transaction remains subject to Shutterstock stockholder approval as well as other customary closing conditions. Both parties continue to expect the transaction to close in the second half of 2025. For additional information associated with the transaction, please see the Company filings from time to time with the Securities and Exchange Commission. Webcast & Conference Call Information The Company will host a conference call and live webcast with the investment community at 4:30 p.m. Eastern Time today, Monday, May 12, 2025, to discuss its first quarter 2025 results. The live webcast will be accessible through the Investor Relations section of the Company's website at To access the call through a conference line, dial 1-800-225-9448 (in the U.S.) or 1-203-518-9708 (international callers). The conference ID for the call is GETTYQ1. A replay of the conference call will be posted shortly after the call and will be available for fourteen days following the call. To access the replay, dial 1-844-512-2921 (in the U.S.) or 1-412-317-6671 (international callers). The access code for the replay is 11158845. About Getty Images Getty Images (NYSE: GETY) is a preeminent global visual content creator and marketplace that offers a full range of content solutions to meet the needs of any customer around the globe, no matter their size. Through its Getty Images, iStock and Unsplash brands, websites and APIs, Getty Images serves customers in almost every country in the world and is the first-place people turn to discover, purchase and share powerful visual content from the world's best photographers and videographers. Getty Images works with almost 600,000 content creators and more than 350 content partners to deliver this powerful and comprehensive content. Each year Getty Images covers more than 160,000 news, sport and entertainment events providing depth and breadth of coverage that is unmatched. Getty Images maintains one of the largest and best privately-owned photographic archives in the world with millions of images dating back to the beginning of photography. Through its best-in-class creative library and Custom Content solutions, Getty Images helps customers elevate their creativity and entire end-to-end creative process to find the right visual for any need. With the adoption and distribution of generative AI technologies and tools trained on permissioned content that include indemnification and perpetual, worldwide usage rights, Getty Images and iStock customers can use text to image generation to ideate and create commercially safe compelling visuals, further expanding Getty Images capabilities to deliver exactly what customers are looking for. For company news and announcements, visit our Newsroom. Forward-Looking Statements Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of the words such as 'believe,' 'may,' 'will,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'should,' 'would,' 'plan,' 'project,' 'forecast,' 'predict,' 'potential,' 'seem,' 'seek,' 'future,' 'outlook,' 'target' or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of our management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including: our inability to continue to license third-party content and offer relevant quality and diversity of content to satisfy customer needs; our ability to attract new customers and retain and motivate an increase in spending by our existing customers; our ability to grow our subscriptions business; the user experience of our customers on our websites; the extent to which we are able to maintain and expand the breadth and quality of our content library through content licensed from third-party suppliers, content acquisitions and imagery captured by our staff of in-house photographers; the mix of and basis upon which we license our content, including the price-points at, and the license models and purchase options through, which we license our content; the risk that we operate in a highly competitive market; the risk that we are unable to successfully execute our business strategy or effectively manage costs; our inability to effectively manage our growth; our inability to maintain an effective system of internal controls and financial reporting; the risk that we may lose the right to use 'Getty Images' trademarks; our inability to evaluate our future prospects and challenges due to evolving markets and customers' industries; the legal, social and ethical issues relating to the use of new and evolving technologies, such as Artificial Intelligence and machine learning (collectively, 'AI'), including statements regarding AI and innovation momentum; the increased use of AI applications such as generative AI technologies that may result in harm to our brand, reputation, business, or intellectual property; the risk that our operations in and continued expansion into international markets bring additional business, political, regulatory, operational, financial and economic risks; our inability to adequately adapt our technology systems to ingest and deliver sufficient new content; the risk of technological interruptions or cybersecurity breaches, incidents, and vulnerabilities; the risk that any prolonged strike by, or lockout of, one or more of the unions that provide personnel essential to the production of films or television programs, such as the 2023 strike by the writers' union and the actors' unions and including its lingering effects, could further impact our entertainment business; the inability to expand our operations into new products, services and technologies and to increase customer and supplier awareness of our new and emerging products and services, including with respect to our AI initiatives; the loss of and inability to attract and retain key personnel that could negatively impact our business growth; the inability to protect the proprietary information of customers and networks against security breaches and protect and enforce intellectual property rights; our reliance on third parties; the risks related to our use of independent contractors; the risk that an increase in government regulation of the industries and markets in which we operate could negatively impact our business; the impact of worldwide and regional political, military or economic conditions, including declines in foreign currencies in relation to the value of the U.S. dollar, hyperinflation, higher interest rates, trade wars and restrictions, devaluation the impact of recent bank failures on the marketplace and the ability to access credit and significant political or civil disturbances in international markets where we conduct business; the risk that claims, judgements, lawsuits and other proceedings that have been, or may be, instituted against us or our predecessors, including pending lawsuits brought against us by former warrant holders, could adversely affect our business; the inability to maintain the listing of our Class A common stock on the New York Stock Exchange; volatility in our stock price and in the liquidity of the trading market for our Class A common stock; the impact of any widespread outbreak of an illness, pandemic or other local or global health issue, natural disasters, or climate change; changes in applicable laws or regulations; the risks associated with evolving corporate governance and public disclosure requirements; the risk of greater than anticipated tax liabilities; the risks associated with the storage and use of personally identifiable information; earnings-related risks such as those associated with late payments, goodwill or other intangible assets; our ability to obtain additional capital on commercially reasonable terms; the risks associated with being an 'emerging growth company' and 'smaller reporting company' within the meaning of the U.S. securities laws; risks associated with our reliance on information technology in critical areas of our operations; our inability to pay dividends for the foreseeable future; the risks associated with additional issuances of Class A common stock without stockholder approval; risks related to our proposed merger with Shutterstock, Inc.; costs related to operating as a public company; and other risks and uncertainties identified in 'Item 1A Risk Factors' of our most recently filed Annual Report on Form 10-K (the '2024 Form 10-K'). If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These and other factors that could cause actual results to differ from those implied by the forward-looking statements in this press release are more fully described under the heading 'Item 1A Risk Factors' in our 2024 Form 10-K and in our other filings with the SEC. The risks described under the heading 'Item 1A Risk Factors' in our 2024 Form 10-K and other filings with the SEC are not exhaustive. New risk factors emerge from time to time and it is not possible to predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, the statements of belief and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us, as applicable, as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and you are cautioned not to unduly rely upon these statements. GETTY IMAGES HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share amounts) Three Months EndedMarch 31, 2025 2024 Revenue $ 224,077 $ 222,278 Operating expenses: Cost of revenue (exclusive of depreciation and amortization) $ 60,209 $ 60,256 Selling, general and administrative expenses 98,268 100,944 Depreciation 14,947 14,360 Amortization 566 534 Loss on litigation 4,343 2,022 Other operating expenses – net 18,402 3,128 Total operating expenses 196,735 181,244 Income from operations 27,342 41,034 Other (expense) income, net: Interest expense (32,675 ) (32,724 ) (Loss) on fair value adjustment for swaps – net — (1,459 ) Foreign exchange (loss) gain – net (25,078 ) 16,422 Loss on extinguishment of debt (5,474 ) — Other non-operating (expense) income – net (2,094 ) 1,515 Total other expense – net (65,321 ) (16,246 ) (Loss) income before income taxes (37,979 ) 24,788 Income tax (expense) benefit (64,593 ) (11,201 ) Net (loss) income (102,572 ) 13,587 Less: Net income attributable to non-controlling interest — 132 Net (loss) income attributable to Getty Images Holdings, Inc. $ (102,572 ) $ 13,455 Net (loss) income per share attributable to Class A Getty Images Holdings, Inc. common stockholders: Basic $ (0.25 ) $ 0.03 Diluted $ (0.25 ) $ 0.03 Weighted-average Class A common shares outstanding: Basic 412,472,878 405,635,251 Diluted 412,472,878 414,893,486 GETTY IMAGES HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and par value data) March 31,2025 December 31,2024 ASSETS Current assets: Cash and cash equivalents $ 114,554 $ 121,173 Restricted cash 4,119 4,131 Accounts receivable – net of allowance of $6,123 and $6,164, respectively 158,697 151,130 Prepaid expenses 15,226 16,327 Insurance recovery receivable 40,000 45,000 Taxes receivable 10,058 9,577 Other current assets 7,681 11,477 Total current assets 350,335 358,815 Property and equipment, net 180,309 177,292 Operating lease right-of-use assets 30,478 32,453 Goodwill 1,511,795 1,510,477 Intangible assets, net of accumulated amortization 397,877 389,906 Deferred income taxes, net 64,681 63,965 Other assets 31,028 30,800 Total assets $ 2,566,503 $ 2,563,708 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 103,133 $ 99,320 Accrued expenses 49,408 59,938 Short-term debt, net 19,447 — Income taxes payable 17,363 10,913 Litigation reserves 112,380 110,994 Deferred revenue 186,634 172,090 Total current liabilities 488,365 453,255 Long-term debt, net 1,308,112 1,314,424 Lease liabilities 26,559 29,034 Deferred income taxes, net 77,363 24,357 Uncertain tax positions 22,831 22,329 Other long-term liabilities 2,177 1,969 Total liabilities 1,925,407 1,845,368 Commitments & contingencies (Note 12) Stockholders' equity: Class A common stock, $0.0001 par value: 2.0 billion shares authorized; 413.4 million shares issued and outstanding as of March 31, 2025 and 412.3 million shares issued and outstanding as of December 31, 2024 41 41 Additional paid-in capital 2,022,385 2,017,407 Accumulated deficit (1,326,054 ) (1,223,482 ) Accumulated other comprehensive loss (103,420 ) (123,770 ) Total Getty Images Holdings, Inc. stockholders' equity 592,952 670,196 Non-controlling interest 48,144 48,144 Total stockholders' equity 641,096 718,340 Total liabilities and stockholders' equity $ 2,566,503 $ 2,563,708 GETTY IMAGES HOLDINGS, CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands) Three Months Ended March 31, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net (loss) income $ (102,572 ) $ 13,587 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 15,513 14,894 Foreign currency gain (losses) on foreign denominated debt 18,330 (11,708 ) Equity-based compensation 4,525 9,134 Debt extinguishment 5,474 — Deferred income taxes – net 54,827 3,422 Uncertain tax positions 502 (163 ) Non-cash fair value adjustment for swaps — 1,459 Amortization of debt issuance costs 1,923 743 Non-cash operating lease costs 2,773 2,913 Other 3,145 632 Changes in assets and liabilities: Accounts receivable (6,373 ) (2,051 ) Accounts payable 6,075 (8,877 ) Accrued expenses (4,719 ) (212 ) Insurance recovery receivable 5,000 931 Litigation reserves 1,501 1,390 Lease liabilities, non-current (3,265 ) (2,957 ) Income taxes receivable/payable 6,683 145 Interest payable (7,316 ) (7,317 ) Deferred revenue 13,167 7,883 Other 191 (2,320 ) Net cash provided by operating activities 15,384 21,528 CASH FLOWS FROM INVESTING ACTIVITIES: Acquisition of property and equipment (15,706 ) (14,452 ) Net cash used in investing activities (15,706 ) (14,452 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of debt 1,040,872 — Debt refinancing costs (35,343 ) (2,201 ) Prepayment of debt (1,018,076 ) (2,600 ) Proceeds from common stock issuance — 2,021 Cash paid for settlement of employee taxes related to equity-based awards — (2,492 ) Net cash used in financing activities (12,547 ) (5,272 ) Effects of exchange rates fluctuations 6,238 (3,918 ) NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (6,631 ) (2,114 ) CASH, CASH EQUIVALENTS AND RESTRICTED CASH – Beginning of period 125,304 140,850 CASH, CASH EQUIVALENTS AND RESTRICTED CASH – End of period $ 118,673 $ 138,736 Non-GAAP Financial Measures In order to assist investors in understanding the core operating results that our management uses to evaluate the business and for financial planning, we present the following non-GAAP measures: (1) Adjusted EBITDA, (2) Adjusted EBITDA Margin, (3) Adjusted EBITDA less capex (4) Adjusted Net Income and Adjusted Earnings Per Share and (5) Free Cash Flow. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. The Company believes that these measures are relevant and provide useful information widely used by analysts, investors and other interested parties in our industry to provide a baseline for evaluating and comparing our operating performance, and in the case of free cash flow, our liquidity results. We also evaluate our revenue on an as reported (U.S. GAAP) and currency neutral basis. We believe presenting currency neutral information provides valuable supplemental information regarding our comparable results, consistent with how we evaluate our performance internally. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are provided below. The Company does not reconcile its forward-looking non-GAAP financial measures to the corresponding U.S. GAAP measures, due to variability and difficulty in making accurate forecasts and projections and/or certain information not being ascertainable or accessible; and because not all of the information, such as foreign currency impacts necessary for a quantitative reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable U.S. GAAP financial measure, is available to the Company without unreasonable efforts. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The Company provides non-GAAP financial measures that it believes will be achieved, however it cannot accurately predict all of the components of the adjusted calculations and the U.S. GAAP measures may be materially different than the non-GAAP measures. Reconciliation of Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted EBITDA less capex (In thousands) Three Months Ended March 31, 2025 2024 Net (loss) income $ (102,572 ) $ 13,587 Add/(less) non-GAAP adjustments: Depreciation and amortization 15,513 14,894 Other operating expense – net 18,402 3,128 Loss on litigation 4,343 2,022 Interest expense 32,675 32,724 Fair value adjustments, foreign exchange and other non-operating (income) expense1 27,172 (16,478 ) Loss on extinguishment of debt 5,474 — Income tax expense 64,593 11,201 Equity-based compensation expense, net of capitalization 4,525 9,134 Adjusted EBITDA 70,125 70,212 Capex 15,706 14,452 Adjusted EBITDA less capex 54,419 55,760 Net (loss) income margin (45.8 )% 6.1 % Adjusted EBITDA margin 31.3 % 31.6 % (1) Fair value adjustments for our swaps and foreign currency exchange contracts, foreign exchange gains (losses) and other insignificant non-operating related expenses (income).Adjusted Net Income and Adjusted Earnings Per Share are non-GAAP financial measures that we use to provide a more meaningful comparison of our core operating results from period to period. These measures exclude the impact of certain items that we believe are not indicative of our core operating performance. These adjustments include, but are not limited to, foreign exchange gains (losses), net and other non-recurring items. The following table reconciles Net Income (Loss) and Earnings (Loss) Per Share, the most directly comparable GAAP measures, to Adjusted Net Income (Loss) and Adjusted Earnings (Loss) Per Share for the periods presented: (In thousands) Three Months Ended March 31, 2025 2024 Net (loss) income $ (102,572 ) $ 13,587 Add/(less) non-GAAP adjustments: Equity-based compensation expense 4,525 9,134 Tax effect of equity-based compensation expense1 (1,153 ) (2,335 ) Loss on litigation 4,343 2,022 Tax effect of loss on litigation, net of recovery1 (1,130 ) (526 ) Foreign exchange 25,078 (16,422 ) Tax effect on foreign exchange (loss) gain – net1 (7,120 ) 4,382 Acquisition related costs 18,043 1,100 Tax effect of acquisition related costs1 (4,694 ) (286 ) Loss on debt extinguishment and expensed financing costs 8,651 — Tax effect of loss on debt extinguishment and expensed financing costs1 (2,250 ) — Adjusted net income (loss) $ (58,279 ) $ 10,656 Earnings per share: Diluted earnings per share $ (0.25 ) $ 0.03 Adjusted diluted earnings per share $ (0.14 ) $ 0.03 Weighted average diluted shares 412,472,878 414,893,486 (1) Statutory tax rates used to calculate the tax effect of the of Free Cash Flow Three Months Ended March 31, (in thousands) 2025 2024 Net cash provided by operating activities $15,384 $21,528 Acquisition of property and equipment $(15,706) $(14,452) Free Cash Flow $(322) $7,076OTHER FINANCIAL DATARevenue by Product Three Months EndedMarch 31, 2025 % of revenue 2024 % of revenue $ change % change CN % change Creative 132,175 59.0 % 138,842 62.5 % (6,667 ) (4.8 )% (3.0 )% Editorial 82,617 36.9 % 79,429 35.7 % 3,188 4.0 % 5.6 % Other 9,285 4.1 % 4,007 1.8 % 5,278 131.7 % 135.5 % Total revenue $ 224,077 100.0 % $ 222,278 100.0 % $ 1,799 0.8 % 2.6 % Certain prior year amounts have been reclassified to conform to the current year Sheet & Liquidity ($ millions) March 31, 2025 December 31, 2024 March 31, 2024 Cash & Cash Equivalents1 $ 114.6 $ 121.2 $ 134.2 Available under Revolving Credit Facility2 $ 150.0 $ 150.0 $ 150.0 Total Liquidity $ 264.6 $ 271.2 $ 284.2 Old Term Loans Outstanding - USD Tranche $ — $ 579.2 $ 634.4 Old Term Loans Outstanding - EUR Tranche3 $ — $ 435.2 $ 451.9 New Term Loans Outstanding - USD Tranche $ 580.0 $ — $ — New Term Loans Outstanding - EUR Tranche3 $ 476.1 $ — $ — Total Balance - Term Loans Outstanding4 $ 1,056.1 $ 1,014.4 $ 1,086.3 Short-term debt, net4 $ 19.4 $ — $ — Senior Notes $ 300.0 $ 300.0 $ 300.0 1 Excludes restricted cash of $4.1 million as of March 31, 2025, $4.1 million as of December 31, 2024 and $4.5 million as of March 31, 2024.2 Our Revolving Credit Facility was effective May, 2023 and matures May, 2028.3 Face Value of Debt is 440M EUR as of March 31, 2025 converted using FX spot rate of 1.08 and face value of debt of 419M EUR as of both December 31, 2024 and March 31, 2024 converted using the FX spot rate as of 1.01 and 1.08, respectively, as of those dates.4 Represents face value of debt, not GAAP carrying value. Investor Contact:Getty ImagesSteven KannerInvestorrelations@ Media Contact:Getty ImagesAnne Flanagan in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-03-2025
- Business
- Yahoo
Is Getty Images Holdings (GETY) The Stock With The Most Insider Sales In The Last Quarter?
We recently published a list of . In this article, we are going to take a look at where Getty Images Holdings, Inc. (NYSE:GETY) stands against other stocks with the most insider sales in the last quarter. A veil of uncertainty has hung over Wall Street these past few weeks, and the cover seems even tighter as investors and economists hold their breath ahead of the Fed's big announcement on Wednesday. The Fed will reveal its interest rate decision, which will be followed by a press conference with Fed Chair Jerome Powell. Since September, the Fed has cut interest rates three times, and still, the broader market entered a correction. Many experts believe that interest rate cuts are off the table for this month and are focusing on the Fed officials' 'dot plot' and future rate decisions, according to Yahoo Finance. Amid these expectations, blue-chip companies dropped 0.62%, the broader market index declined 1.07%, and the NASDAQ Composite fell 1.71%, remaining in correction territory. NASDAQ Composite was dragged by some of the biggest gems in the tech sector. Evercore ISI's Julian Emanuel said that Powell should calm the market by assuring investors the economic growth is still healthy and that inflation is expected to move toward the Fed's 2% target. Scott Helfstein, Global X's head of investment strategy noted that even though there are some risks to price stability and full employment 'this is not time to sell and go away, but perhaps time to review long-term strategy against near-term volatility.' As political and economic landscapes shift, some analysts remain optimistic about AI technology's growth potential. Insider trading often draws attention during such times, as company executives have unique insights into their organizations. For example, when a CEO or CFO buys company stock, it may signal confidence in the company's future. However, insider selling doesn't necessarily reflect a lack of faith in the company. It could be driven by personal financial needs or a desire to diversify assets. Executives often use pre-established plans, like 10b5-1 plans, to ensure transparency and avoid accusations of improper timing. While insider trading can offer valuable clues, it's crucial to consider it alongside factors like financial performance, market trends, and industry developments. We'll focus on the stocks with the highest number of insider sales in the past quarter. Using Insider Monkey's insider trading screener, we've identified stocks where at least five insiders made sales between October 1 and December 31. From this group, we've highlighted the 15 stocks with the most individual sales. Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). For each stock, we provide details on the number of insider sales and the company's current market capitalization. A professional photographer capturing a visually intriguing lifestyle shot. Number of Insiders Selling: 14 Market Capitalization: $886.875 million Getty Images Holdings, Inc. (NYSE:GETY) provides creative and editorial visual content globally, including royalty-free photos, illustrations, vectors, videos, and generative AI services. Its editorial content covers entertainment, sports, and news. The Seattle, Washington-based company also offers music licensing, digital asset management, content distribution, print sales, and data licensing. The company distributes content through platforms like for enterprise clients, for small businesses and freelancers, and which offers free and paid stock photo options. Unsplash+ provides unlimited access to model-released content with enhanced legal protections. For the full year 2024, Getty Images (NYSE:GETY) disclosed revenue of $939.3 million, up 2.5% from 2023. Annual subscription revenue as a percentage of total revenue grew to 53.8%, up from 52.5% in 2023. Net income amounted to $39.5 million, compared to a net income of $19.6 million in the prior year. Getty Images (NYSE:GETY) recently confirmed it has been named the exclusive commercial photography and imagery licensing partner of the National Women's Soccer League (NWSL). The company also renewed its multi-year partnership with UEFA, continuing to serve as UEFA's official appointed photographic agency. During the last quarter, 14 insiders, including the company's CEO, CTO, and CFO, sold a total of $10.93 million worth of Getty Images shares at an average price of $2.81 per share. Year-to-date, the stock gained 4.63% and now trades at $2.26 per share. Over the past 12 months, its shares dropped 51.91%. Getty Images (NYSE:GETY) is also considered one of the . According to StockAnalysis, five analysts have rated Getty Images stock as 'Buy,' with a price target of $5.24. The average price target suggests an upside of 133.30% from the current price. Overall, GETY ranks 2nd on our list of stocks with the most insider sales in the last quarter. While we acknowledge the potential of GETY, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GETY but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
09-03-2025
- Business
- Yahoo
Getty Images Holdings, Inc. (GETY): Among the Best NYSE Penny Stocks to Buy According to Analysts
We recently compiled a list of the . In this article, we are going to take a look at where Getty Images Holdings, Inc. (NYSE:GETY) stands against the other NYSE penny stocks. President Trump's tariffs on Canada and Mexico went live on March 4, 2025, after a one-month moratorium, prompting retaliatory tariffs from both countries and China. This "game of tariffs" is expected to impact the US economy significantly. Immediately after Trump's announcement, the S&P 500 fell to a new low (5,732.59) since November last year. Although the index had recouped some losses slightly (to 5,778.15 at the time of writing), the message is clear: Trump has ignited a full-blown trade war, and investors aren't willing to take any losses. Legendary investor Warren Buffett commented on this situation, saying the American people will suffer the sharpest pain from the tariffs. 'Tariffs are actually, we've had a lot of experience with them. They're an act of war, to some degree. Over time, they are a tax on goods. I mean, the tooth fairy doesn't pay 'em! And then what? You always have to ask that question in economics. You always say, 'And then what?'' Buffet told CBS News' Norah O'Donnell. READ ALSO: 10 Stocks Targeted by Activist Investors Right Now and 8 Best Value Penny Stocks to Invest in Now. However, others see this policy as the Trump administration's strategy to try to renegotiate some of the trade deals the US has with the countries in question. Spencer Ford, CEO and Wealth Advisor with Conservative Financial Solutions believes that this administration wants to win in the eyes of Americans, and if tariffs are the way, so be it. Although he doesn't hesitate to suggest a better approach: 'The way they're gonna do that [score better trade deals] is through a strong economy, and you don't do that through prolonged tariffs because it just makes things more expensive. They're [tariffs] inflationary. And as we've seen, it's not really good for the investment markets. I think a lot of people are hoping maybe we'll see what happened from Friday to today with Ukraine where, Yeah. Suddenly there's a change of heart there.' Will Trump change heart? Probably. US Commerce Secretary Howard Lutnick recently announced that President Trump will likely announce a deal to cut tariffs on the neighbors. 'Both the Canadians and Mexicans were on the phone with me all day today trying to show that they'll do better on reducing the flow of the synthetic opioid fentanyl into the US,' he told Fox Business Network. But whatever happens, the damage has already been done. Looking at the NYSE, most companies listed on the exchange have been doing great since Trump's comeback at the White House. The NYSE Composite Index has been in the green since January 10, 2025. However, this growth was almost wiped off in a single day when the US tariffs were effected, and the target countries announced retaliations. On the very day the tariffs were effected, the NYSE shed over 2% in value. This index includes a mix of large-cap, mid-cap, and small-cap shares, but the scales tip towards large-cap stocks. This tells you that when the index posts losses, the sell-off affects large-cap stocks more. Granted, small-caps were also affected but the largest impact went to the huge conglomerates that often operate across borders. The latest data shows that NYSE stocks are recovering—the NYSE has so far climbed 1.33% (as of the close on March 5). A lot of this activity is investors' optimism about a tariff reprieve across more sectors after Trump gave the big three automakers a one-month reprieve. But whether this will happen is a question no one can answer right now. That means that the possibility of the NYSE stocks taking another dip in the future is real. And the shares whose value is much more at stake are the large-caps, which makes this an opportune time to consider NYSE penny stocks. To assemble these companies, we used stock screeners to identify NYSE stocks trading under $5. We filtered the resulting companies and picked 12 stocks based on upside potential (at least 30% as of March 7). Additionally, we have included the hedge fund sentiment around each stock, as of Q4 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A professional photographer capturing a visually intriguing lifestyle shot. Number of Hedge Fund Holders In Q4 2024: 8 Getty Images Holdings, Inc. (NYSE:GETY) creates and markets visual content, including stock photography, editorial images, videos, and music. It serves businesses and consumers worldwide. In January 2025, the company made public a plan to merge with Shutterstock, one of its closest rivals in the market. If complete, the resulting company will have an enterprise value of approximately $3.7 billion. Also, Getty Images Holdings, Inc. (NYSE:GETY) stockholders will own about 54.7% of the combined company, which will continue to trade under the ticker symbol 'GETY.' The company is also working on its balance sheet. Just last month, it completed a comprehensive refinancing of its existing term loans totaling approximately $1.042 billion. As part of this transaction, the company secured a new $580 million 5-year US dollar term facility and a new €440 million 5-year euro term facility. Most recently, Getty Images Holdings, Inc. (NYSE:GETY) renewed its multi-year partnership with UEFA. That means the company will continue to serve as UEFA's official appointed photographic agency. This agreement covers all UEFA men's and women's club and national team competitions. The now larger company has had a poor run in the market since the beginning of the year—the stock had lost 6.48% at the time of this writing. However, analysts are convinced that the current price is an undervaluation and they project an upside potential of 140.39%. Overall GETY ranks 4th on our list of the best NYSE penny stocks to buy according to analysts. While we acknowledge the potential of GETY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GETY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
