Getty Images Reports Third Quarter 2025 Results

• Q3 Annual Subscription Revenue Up 11.2% (Currency Neutral 9.3%), Representing 58.4% of Total Revenue
• Strong Q3 Profitability: 9.0% Net Income margin and 32.8% Adjusted EBITDA margin
• Updates 2025 Revenue and Adjusted EBITDA Guidance
• Finalizes Strategic Partnerships to Integrate Getty Images Content into Emerging AI Platforms

New York-November 10, 2025: 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 third quarter ended September 30, 2025."Third quarter results were in line with our expectations, with top-line growth flattening due to challenging year-over-year comparisons against last year's robust event calendar," said Craig Peters, Chief Executive Officer at Getty Images."We were pleased to finalize new strategic partnerships that integrate our high-quality, authentic content into emerging AI large language models and search platform experiences. These initiatives unlock incremental revenue streams that are closely aligned with our traditional content business. We remain confident in our value proposition and are focused on disciplined execution against our 2025 outlook.""Our Q3 performance reflects the resilience and adaptability of our business. We navigated the challenging year-on-year compares with strong subscription revenue growth and a return to an adjusted EBITDA margin north of 32%," said Jennifer Leyden, Chief Financial Officer at Getty Images. "As we look to the balance of the year, we are confident in our ability to execute on our updated guidance for both Revenue and Adjusted EBITDA."Third Quarter 2025 Financial Summary:
- Revenue was $240.0 million, a decrease of 0.2% year over year and 2.0% on a currency neutral basis.

• Creative revenue of $144.9 million, up 8.4% year over year and 6.4% on a currency neutral basis.
• Editorial revenue of $89.3 million, down 3.7% year over year and 5.6% on a currency neutral basis.
• Other revenue of $5.8 million, down 58.5% year over year and 58.8% on a currency neutral basis. The decrease reflects timing of revenue recognition in the prior year for a 5-year creative content deal with data licensing rights which was largely recognized upfront.
• Annual Subscription Revenue as a percentage of total revenue grew to 58.4% up from 52.4% in Q3'24.

- Net Income of $21.6 million, compared to a Net Loss of $2.5 million in Q3'24. Included in the Q3'25 results are:

• $30.1 million decrease in foreign exchange loss primarily due to revaluation of the Euro Term Loan,
• $8.8 million increase in tax benefit primarily due to changes in foreign withholding taxes, nondeductible interest, changes in valuation allowance, and benefits related to OBBBA, and
• $12.3 million decrease in income from operations primarily due to approximately $9.9 million of merger related expenses.

- Net Income Margin for Q3'25 was 9.0% compared to Net Loss Margin of 1.1% in Q3'24.

- On a non-GAAP basis, adjusted Net Income* was $33.5 million, as compared to $24.0 million adjusted Net Income* in the prior year.

- Adjusted EBITDA* of $78.7 million, down 2.4% year over year and 4.4% on a currency neutral basis. Adjusted EBITDA Margin* remained strong at 32.8% for Q3'25 compared to 33.5% in the prior year period.

- Adjusted EBITDA less capex* was $64.0 million, down 6.1% year over year and down 8.1% on a currency neutral basis.

Liquidity and Balance Sheet:
- Net cash provided by operating activities of $22.6 million in Q3'25, compared to $10.7 million in the prior year period. The increase in cash provided by operating activities was primarily driven by timing of working capital payments, including lower cash interest and cash taxes paid.

- Free cash flow* of $7.9 million in Q3'25, compared to negative $1.8 million in the prior year period.

- Ending cash balance on September 30, 2025 was $109.5 million, down $11.6 million from the ending balance on December 31, 2024 and down $0.3 million from September 30, 2024. The Company has $150.0 million available through its Revolver, which remains undrawn, for total available liquidity of $259.5 million.

- Total debt was $1.38 billion as of September 30, 2025, which included $539.9 million in Senior Secured Notes, Term Loan balance of $543.6 million, consisting of $40.1 million in USD and $503.5 million in USD equivalent of Euros, converted using exchange rates as of September 30, 2025, and $300.0 million in senior unsecured notes.

- In October, the company completed a bond exchange for its $300.0 million of senior unsecured notes, replacing $294.7 million of 9.75% notes due in March 2027 with new 14.0% notes due in March 2028. In addition, the company issued $628.4 million of new 10.5% senior secured notes due 2030 to fund the estimated merger cash consideration, refinance existing Shutterstock debt, and cover anticipated merger related fees and expenses. The proceeds from the merger financing will remain in escrow, subject to the closing of the merger.

* 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.