Getty Images (GETY) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $229.1 million, down 2.5% year-over-year and 4.1% on a currency neutral basis, with six-month revenue at $455.7 million, down 0.7% year-over-year.

• Net loss for Q2 2026 was $85.8 million, compared to $34.4 million in Q2 2025, driven by higher tax and interest expenses; six-month net loss was $90.2 million, improved from $136.9 million prior year.

• Corporate and media/enterprise segments, representing about 75% of revenue, showed resilience, offsetting some declines in agency and iStock.

• The Shutterstock merger was terminated in July 2026 due to regulatory and cost burdens, with over $100 million spent on related fees and financing.

• Management expressed substantial doubt about the company's ability to continue as a going concern due to liquidity constraints.

Financial highlights

• Adjusted EBITDA was $62.3 million (margin 27.2%), down 8.4% year-over-year; six-month Adjusted EBITDA was $123.9 million (margin 27.2%).

• Free cash flow was -$122.6 million, primarily due to a $110.9 million litigation payment; adjusted free cash flow would have been -$4.5 million after one-time items.

• SG&A expense decreased to $101.5 million, reflecting lower marketing and professional fees.

• Interest expense for Q2 2026 was $57.3 million, up 56.9% year-over-year.

• Ended Q2 with $51.6 million in cash, down $45 million sequentially; total available liquidity was $81.6 million as of June 30, 2026.

Outlook and guidance

• No earnings guidance provided due to ongoing evaluation of strategic financing and capital structure; guidance withdrawn but commitment to business plan remains.

• Substantial doubt remains about the company's ability to continue as a going concern for the next year.

• Balance sheet optimization and liquidity improvement are immediate priorities, with the process expected to run through Q3 and into Q4.

• Some business KPIs may be adversely impacted through 2026 and into 2027 as marketing spend is rationalized and focus shifts to premium offerings.