Getty Images Reports Fourth Quarter and Full Year 2025 Results

• Delivered full-year revenue of $981.3 million, well above upper end of guidance and the highest reported revenue in the Company's 30-year history
• Full-year revenue growth of 4.5%, currency neutral growth of 3.8%
• Q4 revenue growth of 14.1%, currency neutral growth of 12.7%
• Shutterstock merger has obtained regulatory clearance without conditions in all jurisdictions except UK, where the CMA's final report is due by June 14

New York-March 16, 2026: 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 fourth quarter and full year ended December 31, 2025."In our 30th anniversary year we delivered record revenue, with growth across both Creative and Editorial," said Craig Peters, Chief Executive Officer at Getty Images."In a year defined by volatility in the broader market, our performance demonstrates the durability of our business model - powered by high-quality content, deep customer relationships, exclusive partnerships and access, and a diversified revenue mix. We enter 2026 with a resilient business, a strong pipeline of long-term deals and a differentiated offering which makes Getty Images the partner of choice now and into the future.""With Revenue and Adjusted EBITDA both well above the high-end of our guidance, we ended 2025 with incredible momentum," said Jenn Leyden, Chief Financial Officer at Getty Images. "As we enter 2026, we are well positioned to leverage the foundational strengths of our business with the added tailwind of a strong editorial events calendar to continue building on this momentum."

Fourth Quarter 2025 Financial Summary:
- Revenue of $282.3 million increased 14.1% year over year and 12.7% on a currency neutral basis.

• Creative revenue of $149.0 million, up 4.6% year over year and up 3.1% on a currency neutral basis.
• Editorial revenue of $109.4 million, up 21.4% year over year and 19.9% on a currency neutral basis.
• Other revenue of $23.9 million, up 61.3% year over year and 61.3% on a currency neutral basis.
• The increase in revenue across Creative, Editorial, and Other includes impacts from the signing of two significant licensing agreements, one with display rights for pre-shot content and the other covering use of our data and creative content, both of which included meaningful revenue recognized in an accelerated manner.
• Annual Subscription Revenue as a percentage of total revenue decreased to 48.6%, from 54.9% in Q4'24, with the step back in mix driven by the two significant licensing agreements signed in the quarter that are not included in subscription revenue. This was a formulaic step back and not an indication of the health of the subscription business, which excluding the impact from those deals would have been 56.6% of total revenue.

- Net Loss of $90.9 million, compared to a Net Income of $24.7 million in Q4'24. Included in the Q4'25 results are:

• $60.0 million decrease in income from operations primarily due to $79.1 million increase in loss on litigation and a $4.7 million increase in merger related expenses,
• $20.4 million increase in interest expense due to higher rates on our refinanced debt and incremental interest expense tied to the debt raised in connection with the merger financing, and
• $46.4 million decrease in foreign exchange loss primarily due to revaluation of the Euro Term Loan.

- Net Loss Margin for Q4'25 was 32.2% compared to Net Income Margin of 10.0% in Q4'24.

- On a non-GAAP basis, adjusted Net Loss* was $4.3 million, as compared to $7.3 million adjusted Net Income* in Q4'24.

- Adjusted EBITDA* of $104.1 million, up 29.1% year over year and up 27.2% on a currency neutral basis, due primarily to strong revenue growth and the Company's continued ability to maintain strong profitability. Adjusted EBITDA Margin* was 36.9%, up from 32.6% in Q4'24.

- Adjusted EBITDA less capex* was $91.1 million, up 39.1% year over year and up 38.3% on a currency neutral basis.

Full Year 2025 Financial Summary:
- Revenue of $981.3 million increased 4.5% year over year and 3.8% on a currency neutral basis.

• Creative revenue of $556.9 million, up 0.7% year over year and up 0.2% on a currency neutral basis.
• Editorial revenue of $369.6 million, up 6.9% year over year and 6.1% on a currency neutral basis.
• Other revenue of $54.8 million, up 35.2% year over year and 35.2% on a currency neutral basis.
• Annual Subscription Revenue as a percentage of total revenue grew to 54.2%, up from 53.8% in 2024.

- Net Loss of $206.2 million, compared to a Net Income of $39.5 million in 2024. Included in the 2025 results are:

• $115.0 million increase in foreign exchange loss primarily due to revaluation of the Euro Term Loan,
• $96.9 million decrease in income from operations primarily driven by approximately $80.0 million increase in loss on litigation due to the previously disclosed warrant litigation and a $41.9 million increase of merger and acquisition related expenses,
• $24.7 million increase in interest expense due to higher interest rates on our refinanced debt and incremental interest expense tied to debt raise in connection with the merger financing, and
• $19.4 million increase in loss on debt extinguishment and expensed financing costs tied to the refinancing of our debt.

- Net Loss Margin was 21.0% compared to Net Income Margin of 4.2% in 2024.

- On a non-GAAP basis, adjusted Net Loss* was $11.1 million, as compared to $49.0 million adjusted Net Income* in the prior year.

- Adjusted EBITDA* of $320.9 million, up 6.9% year over year and up 5.8% on a currency neutral basis. Adjusted EBITDA Margin* was 32.7% in 2025, compared to 32.0% in 2024.

- Adjusted EBITDA less Capex* was $261.3 million, up 7.6% year over year and up 7.0% on a currency neutral basis.

Liquidity and Balance Sheet:
- Net cash provided by operating activities of $20.6 million in Q4'25, compared to $39.7 million in the prior year period.

- Free cash flow* of $7.7 million in Q4'25, compared to $24.6 million in the prior year period, with the decrease due to a $22.4 million increase in cash interest paid.

- Ending cash balance on December 31, 2025 was $90.2 million, down $31.0 million from the ending balance on December 31, 2024 and down $19.4 million from September 30, 2025. The year-on-year decrease was driven in large part by $45.7 million of merger related expenses and $36.4 million of refinancing related fees paid during the year. The Company has $150.0 million available through its Revolver, which remains undrawn, for total available liquidity of $240.2 million.

- Total debt was $2.7 billion, which included $1.2 billion in Senior Secured Notes, Term Loan balance of $537.2 million, consisting of $40.1 million in USD and $497.2 million in USD equivalent of Euros, converted using exchange rates as of December 31, 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.

* 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.