Shutterstock (SSTK)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	83,299	83,299	91,210	94,955	87,278	122,988	116,197	128,756	133,817	154,267	163,388	153,155	125,968	109,414	86,810	66,043	70,776	77,198	80,980	87,056
Revenue (ttm)	US$ in thousands	875,466	876,879	847,509	842,783	826,489	812,053	802,190	789,207	770,112	745,582	716,961	685,134	665,050	650,477	644,873	646,683	649,328	645,029	637,492	631,122
Gross profit margin		9.51%	9.50%	10.76%	11.27%	10.56%	15.15%	14.48%	16.31%	17.38%	20.69%	22.79%	22.35%	18.94%	16.82%	13.46%	10.21%	10.90%	11.97%	12.70%	13.79%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $83,299K ÷ $875,466K
= 9.51%

Based on the data provided, Shutterstock Inc's gross profit margin has exhibited a downward trend over the past eight quarters. The gross profit margin decreased from 62.03% in Q4 2022 to 59.68% in Q4 2023, reflecting a 2.35 percentage point decline. This downward trend suggests that the company's cost of goods sold relative to its revenue has been increasing, impacting its profitability at the gross level. It is essential for the company to closely monitor and manage its cost structure to improve its gross profit margin and overall financial performance in the future.