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    Agnieszka Pustula

    Director and Senior Analyst at Bank of America

    Agnieszka Pustula is a Director and Senior Analyst at Bank of America, specializing in credit research with a focus on European financial institutions and insurance companies. She covers key players such as Barclays, HSBC, Lloyds, and Prudential, and has established a strong performance record in generating actionable investment ideas, reflected by high marks on internal reviews and investor feedback. Pustula began her career at the Royal Bank of Scotland before joining Bank of America in 2014, progressively advancing to her current leadership role within the firm. She holds FINRA Series 7 and Series 63 securities licenses, and is recognized for her in-depth sector expertise and impactful research contributions.

    Agnieszka Pustula's questions to Shutterstock (SSTK) leadership

    Agnieszka Pustula's questions to Shutterstock (SSTK) leadership • Q1 2024

    Question

    Agnieszka Pustula sought clarification on the new guidance, asking if it assumes the Envato acquisition closes at the beginning of Q3. She also asked for more detail on trends within the content business during the quarter and into April.

    Answer

    CFO Jarrod Yahes clarified that the Envato deal is more likely to close in the latter part of Q3 2024. CEO Paul Hennessy addressed the content business, highlighting positive trends driven by the removal of the free trial, which attracted higher-intent customers. He reiterated expectations for the content business to return to growth in the second half of the year. Yahes added that year-over-year growth in content is expected to improve sequentially each quarter and that April trends were looking good.

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    Agnieszka Pustula's questions to Shutterstock (SSTK) leadership • Q1 2024

    Question

    Agnieszka Pustula sought clarification on the new guidance, asking if it assumes the Envato acquisition will contribute to revenue and EBITDA from the beginning of Q3. She also asked for more detail on trends within the content business during the quarter and into April.

    Answer

    CFO Jarrod Yahes clarified that the acquisition is more likely to close in the back half of Q3, rather than at the very start. CEO Paul Hennessy and CFO Jarrod Yahes both commented on the content business, noting positive leading indicators like improved customer acquisition after removing the free trial. They expect the content business's year-over-year growth to improve each quarter, with Yahes adding that April trends were looking good and that removing the free trial was the right strategic move for long-term growth.

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