Getty Images Holdings, Inc.

Revenue was $229.1 million in Q2 2026, down 2.5% reported and down 4.1% on a currency-neutral basis; timing of revenue recognition added about 50 basis points. Creative revenue was $127.4 million, down 2.6% year over year and 4.3% currency neutral, while editorial revenue was $96.5 million, up 9.2% year over year and 7.6% currency neutral. Adjusted EBITDA was $62.3 million, down 8.4% reported and 10.3% currency neutral, with margin at 27.2% versus 28.9% last year; SG&A was $101.5 million, down $3.6 million. Free cash flow was negative $122.6 million versus negative $9.6 million in Q2 2025, driven mainly by the $110.9 million litigation payment, $80.4 million of cash interest, and $9.4 million of cash taxes; after adjusting for the litigation payment, insurance recovery, and merger-related items, free cash flow would have been negative $4.5 million. The company ended Q2 with $51.6 million of cash and $2.1 billion of total debt. Management did not provide earnings guidance or forward revenue/EBITDA targets, citing an active review of strategic financing alternatives and balance-sheet management initiatives.

Craig Peters said the quarter was “not where we wanted it to be,” but emphasized that Getty is now focused on operating as a standalone company and fixing liquidity and leverage. He framed the business as strong but constrained by a challenged balance sheet, and said the company is shifting resources away from structurally weaker areas like agency and lower-return iStock marketing while doubling down on premium content, AI-enabled tools, and trusted, rights-cleared visuals. His tone was cautious but constructive, with repeated emphasis on long-term opportunity after the merger termination.

Jennifer Leyden detailed that revenue of $229.1 million fell 2.5% reported and 4.1% currency neutral, with the decline driven by iStock traffic pressure and ongoing agency weakness. She said adjusted EBITDA was $62.3 million, margin was 27.2%, CapEx was $13.8 million, and adjusted EBITDA less CapEx was $48.4 million, or 21.1% margin. Free cash flow was negative $122.6 million, including the $110.9 million warrant judgment payment, $80.4 million of cash interest, and $31.5 million of insurance proceeds; cash ended at $51.6 million, down $45 million sequentially, and debt totaled $2.1 billion. She also said the company drew an additional $30 million on the revolver in July, redeemed the $628.4 million 10.5% senior secured notes at par, and is not providing guidance while financing alternatives are being evaluated.

There was no live analyst Q&A in the transcript, so the main discussion came from management’s prepared remarks. The biggest questions addressed were the impact of the terminated Shutterstock deal, the litigation cash payment, declining iStock traffic, and the company’s ability to manage leverage and liquidity. Management answered by saying it has hired Guggenheim to explore financing alternatives, expects that process to run through Q3 and into Q4, and will reduce spend in weaker channels while investing in higher-value premium offerings and AI-enabled products.