vs
Side-by-side financial comparison of Shutterstock, Inc. (SSTK) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $220.2M, roughly 1.7× Shutterstock, Inc.). INNOVATE Corp. runs the higher net margin — -1.9% vs -7.3%, a 5.3% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs -12.0%). Over the past eight quarters, INNOVATE Corp.'s revenue compounded faster (10.2% CAGR vs 1.4%).
Shutterstock, Inc. is an American provider of stock photography, stock footage, stock music, and editing tools; it is headquartered in New York. Founded in 2002 by programmer and photographer Jon Oringer, Shutterstock maintains a library of around 200 million royalty-free stock photos, vector graphics, and illustrations, with around 10 million video clips and music tracks available for licensing. Originally a subscription site only, Shutterstock expanded beyond subscriptions into à la carte p...
Innovate Corp. is an American public financial services company founded in 1994.
SSTK vs VATE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $220.2M | $382.7M |
| Net Profit | $-16.0M | $-7.4M |
| Gross Margin | 55.8% | 15.4% |
| Operating Margin | -1.1% | 3.7% |
| Net Margin | -7.3% | -1.9% |
| Revenue YoY | -12.0% | 61.7% |
| Net Profit YoY | -1021.0% | 55.4% |
| EPS (diluted) | $-0.47 | $-0.57 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $220.2M | $382.7M | ||
| Q3 25 | $260.1M | $347.1M | ||
| Q2 25 | $267.0M | $242.0M | ||
| Q1 25 | $242.6M | $274.2M | ||
| Q4 24 | $250.3M | $236.6M | ||
| Q3 24 | $250.6M | $242.2M | ||
| Q2 24 | $220.1M | $313.1M | ||
| Q1 24 | $214.3M | $315.2M |
| Q4 25 | $-16.0M | $-7.4M | ||
| Q3 25 | $13.4M | $-8.9M | ||
| Q2 25 | $29.4M | $-19.8M | ||
| Q1 25 | $18.7M | $-24.5M | ||
| Q4 24 | $-1.4M | $-16.6M | ||
| Q3 24 | $17.6M | $-15.0M | ||
| Q2 24 | $3.6M | $14.4M | ||
| Q1 24 | $16.1M | $-17.4M |
| Q4 25 | 55.8% | 15.4% | ||
| Q3 25 | 60.6% | 14.3% | ||
| Q2 25 | 60.3% | 18.8% | ||
| Q1 25 | 58.4% | 16.6% | ||
| Q4 24 | 55.1% | 19.6% | ||
| Q3 24 | 58.3% | 19.9% | ||
| Q2 24 | 58.5% | 21.0% | ||
| Q1 24 | 58.8% | 15.4% |
| Q4 25 | -1.1% | 3.7% | ||
| Q3 25 | 12.5% | 1.8% | ||
| Q2 25 | 13.0% | 2.0% | ||
| Q1 25 | 4.2% | 1.2% | ||
| Q4 24 | 5.3% | 1.1% | ||
| Q3 24 | 7.2% | 2.4% | ||
| Q2 24 | 9.4% | 9.2% | ||
| Q1 24 | 7.8% | 0.9% |
| Q4 25 | -7.3% | -1.9% | ||
| Q3 25 | 5.1% | -2.6% | ||
| Q2 25 | 11.0% | -8.2% | ||
| Q1 25 | 7.7% | -8.9% | ||
| Q4 24 | -0.6% | -7.0% | ||
| Q3 24 | 7.0% | -6.2% | ||
| Q2 24 | 1.6% | 4.6% | ||
| Q1 24 | 7.5% | -5.5% |
| Q4 25 | $-0.47 | $-0.57 | ||
| Q3 25 | $0.37 | $-0.71 | ||
| Q2 25 | $0.82 | $-1.67 | ||
| Q1 25 | $0.53 | $-1.89 | ||
| Q4 24 | $-0.04 | $-0.72 | ||
| Q3 24 | $0.50 | $-1.18 | ||
| Q2 24 | $0.10 | $1.03 | ||
| Q1 24 | $0.45 | $-2.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $178.2M | $112.1M |
| Total DebtLower is stronger | — | $80.3M |
| Stockholders' EquityBook value | $581.0M | $-240.1M |
| Total Assets | $1.4B | $950.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $178.2M | $112.1M | ||
| Q3 25 | $165.5M | $35.5M | ||
| Q2 25 | $116.4M | $33.4M | ||
| Q1 25 | $112.2M | $33.3M | ||
| Q4 24 | $111.3M | $48.8M | ||
| Q3 24 | $131.4M | $51.0M | ||
| Q2 24 | $74.9M | $80.2M | ||
| Q1 24 | $71.8M | $38.4M |
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | — | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
| Q4 25 | $581.0M | $-240.1M | ||
| Q3 25 | $594.4M | $-233.3M | ||
| Q2 25 | $586.2M | $-224.8M | ||
| Q1 25 | $547.2M | $-204.2M | ||
| Q4 24 | $518.4M | $-180.4M | ||
| Q3 24 | $522.9M | $-163.1M | ||
| Q2 24 | $520.4M | $-149.0M | ||
| Q1 24 | $541.3M | $-184.4M |
| Q4 25 | $1.4B | $950.1M | ||
| Q3 25 | $1.4B | $913.2M | ||
| Q2 25 | $1.4B | $890.9M | ||
| Q1 25 | $1.3B | $868.0M | ||
| Q4 24 | $1.3B | $891.1M | ||
| Q3 24 | $1.3B | $897.2M | ||
| Q2 24 | $1.0B | $898.9M | ||
| Q1 24 | $1.0B | $943.5M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $36.2M | $101.1M |
| Free Cash FlowOCF − Capex | $25.9M | — |
| FCF MarginFCF / Revenue | 11.8% | — |
| Capex IntensityCapex / Revenue | 4.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $123.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.2M | $101.1M | ||
| Q3 25 | $78.4M | $19.2M | ||
| Q2 25 | $26.8M | $40.4M | ||
| Q1 25 | $25.2M | $-14.1M | ||
| Q4 24 | $8.0M | $41.4M | ||
| Q3 24 | $-11.6M | $-28.4M | ||
| Q2 24 | $28.0M | $21.5M | ||
| Q1 24 | $8.3M | $-25.4M |
| Q4 25 | $25.9M | — | ||
| Q3 25 | $68.0M | $19.0M | ||
| Q2 25 | $15.5M | — | ||
| Q1 25 | $14.4M | $-18.8M | ||
| Q4 24 | $-952.0K | $34.2M | ||
| Q3 24 | $-26.3M | $-31.5M | ||
| Q2 24 | $18.9M | $18.4M | ||
| Q1 24 | $-6.2M | $-31.0M |
| Q4 25 | 11.8% | — | ||
| Q3 25 | 26.1% | 5.5% | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | 6.0% | -6.9% | ||
| Q4 24 | -0.4% | 14.5% | ||
| Q3 24 | -10.5% | -13.0% | ||
| Q2 24 | 8.6% | 5.9% | ||
| Q1 24 | -2.9% | -9.8% |
| Q4 25 | 4.7% | — | ||
| Q3 25 | 4.0% | 0.1% | ||
| Q2 25 | 4.2% | — | ||
| Q1 25 | 4.5% | 1.7% | ||
| Q4 24 | 3.6% | 3.0% | ||
| Q3 24 | 5.9% | 1.3% | ||
| Q2 24 | 4.1% | 1.0% | ||
| Q1 24 | 6.7% | 1.8% |
| Q4 25 | — | — | ||
| Q3 25 | 5.86× | — | ||
| Q2 25 | 0.91× | — | ||
| Q1 25 | 1.35× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.66× | — | ||
| Q2 24 | 7.71× | 1.49× | ||
| Q1 24 | 0.51× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SSTK
Segment breakdown not available.
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
