Getty Images Holdings, Inc. (GETY) Q3 2025 Earnings Call Transcript
Third quarter revenue $240 million, representing a slight year-over-year decrease of 0.2% and 2% on a currency-neutral basis. The decrease was due to declines in editorial revenue and agency customers, partially offset by growth in creative revenue.
Adjusted EBITDA $78.7 million for the quarter, down 2.4% reported and 4.4% on a currency-neutral basis at a margin of 32.8% of revenue. The decline was attributed to increased SG&A expenses, including costs for SOX compliance and litigation.
Annual subscription revenue 58.4% of total revenue, up from 52.4% in Q3 of last year, representing year-on-year growth of 11.2% or 9.3% on a currency-neutral basis. Growth was driven by premium access, which grew 17% or 15% currency neutral, aided by a large renewal.
Creator revenue $144.9 million for the quarter, up 8.4% year-on-year and 6.4% on a currency-neutral basis. Growth was driven by premium access revenue, video, Unsplash+, and custom content, while agency revenue declined 22% year-on-year.
Editorial revenue $89.3 million, down 3.7% year-on-year and 5.6% on a currency-neutral basis. The decline was due to double-digit decreases in news and sports, partially offset by growth in entertainment and archives.
Other revenue $5.8 million, down from $14.1 million in Q3 '24. The decline was due to the timing of prior year revenue recognition for creative content deals, including AI rights.
Adjusted EBITDA less CapEx $64 million, down 6.1% or 8.1% on a currency-neutral basis. The decline was due to increased CapEx and lower adjusted EBITDA.
Free cash flow $7.9 million compared to negative $1.8 million in Q3 2024. The increase was due to changes in working capital, primarily the timing of receivables and payables.
SG&A expense $101 million, up $0.9 million year-on-year. The increase was due to $3 million of professional fees for SOX compliance and $1 million for litigation costs.
CapEx $14.7 million in Q3, up $2.2 million year-over-year. The increase reflects the timing of payments for routine CapEx spend.
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Revenue Guidance: The company has narrowed its full-year revenue guidance to between $942 million and $951 million, aligning closely with analyst estimates.
Stock Performance: Despite a 0.87% increase in share price to $1.73, Getty's stock has seen a year-to-date decline of 17.8%, trading below its 50-day and 200-day moving averages.
Strategic Partnerships: Getty announced a merger with Shutterstock expected to close in 2026 and a partnership with AI company Perplexity to integrate Getty's content into AI-powered search tools.
