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Shutterstock charges through 3Q results: ‘paid downloads increased 23% to 31.2M’


Shutterstock are continuing their charge in the commercial stock media arena reporting ‘Revenue for the third quarter of 2014 was $83.7 million, a 41% increase from $59.6 million in the third quarter of 2013’.
Highlights include:
– Third quarter revenue increased 41% from prior year to $83.7 million
– Adjusted EBITDA increased 36% to $17.3 million
– Quarterly paid downloads increased 23% to 31.2 million
– Revenue per download increased 13% to $2.65
– Image collection grew 44%; currently exceeds 44 million images and 2.1 million video clips

“In the third quarter, we achieved strong growth due to our continued focus on providing an intuitive and efficient marketplace for businesses and creative professionals,” said Founder and CEO Jon Oringer.

….and the targets for 4Q ? – here’s the Company’s current financial and operating expectations:
Revenue of $90 – $92 million
Adjusted EBITDA of $19.5 – $21.5 million
Non-cash equity-based compensation expense of approximately $7 million
An effective tax rate of approximately 40%
Capital expenditures of approximately $3 million