Getty Posts Record 2025 Revenue but Swings to Loss as U.K. Review Slows Shutterstock Merger

Management links the loss to litigation and merger costs during a cross-border review of the Shutterstock deal.

Overview

Getty reported 2025 revenue of $981.3 million, the highest in its history, alongside a full-year net loss of $206.2 million and adjusted EBITDA of $320.9 million.
Two late‑Q4 multi‑year licensing agreements with a major social platform and a large AI company accelerated roughly $40 million of revenue into Q4, shaping 2026 guidance.
For 2026, the company guided revenue to $948 million–$988 million and adjusted EBITDA to $279 million–$295 million, noting underlying growth when normalizing for the Q4 pull‑forward.
The DOJ cleared the Shutterstock merger without conditions on February 23, 2026, while the U.K. CMA’s Phase 2 review flagged potential editorial‑market concerns and set a June 14 decision deadline; Getty says it has proposed remedies.
Getty cited about an $80 million increase in litigation losses, recorded AI‑related legal fees of $9.9 million and $7.8 million for accelerated SOX work, ended 2025 with $90.2 million in cash and $2.7 billion in total debt, and placed $628.4 million of new secured notes in escrow for the merger.