Agnieszka Pustula's questions to Shutterstock Inc (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.