Getty Images Holdings, Inc. (NYSE:GETY) Q3 2022 Earnings Conference Call November 14, 2022 5:00 PM ET

Company Participants

Steven Kanner - Vice President of Investor Relations and Treasury

Craig Peters - Chief Executive Officer

Jennifer Leyden - Chief Financial Officer

Conference Call Participants

Ronald Josey - Citigroup Inc.

Mark Zgutowicz - The Benchmark Company

Brett Feldman - Goldman Sachs Group, Inc.

Timothy Nollen - Macquarie Research

Operator

Good afternoon, and welcome to Getty Images Third Quarter 2022 Earnings Conference Call. Today's call is being recorded. We have allocated one hour for prepared remarks and Q&A.

At this time, I would like to turn the conference over to Steven Kanner, VP of Investor Relations and Treasury at Getty Images. Thank you. You may begin.

Steven Kanner

Good afternoon, and welcome to the Getty Images third quarter 2022 earnings call. Joining me on today's call are Craig Peters, Chief Executive Officer; and Jenn Leyden, Chief Financial Officer.

Before we begin, we would like to remind you that this call will include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to various risks, uncertainties and assumptions which could cause our actual results to differ materially from these statements. These risks, uncertainties and assumptions are highlighted in the forward-looking statements section of today's press release and in our filings with the SEC. Links to these filings and today's press release can be found on our Investor Relations website at investors.gettyimages.com.

During our call today, we will also reference certain non-GAAP financial information, including adjusted EBITDA, adjusted EBITDA margin, adjusted EBITDA less CapEx, and free cash flow. We use non-GAAP measures in some of our financial discussions as we believe they represent our operational performance and underlying results of our business. Reconciliation of GAAP to non-GAAP measures, as well as the description, limitations and rationale for using each measure can be found in our filings with the SEC.

After our prepared remarks, we'll open the call for your questions.

With that, I will hand the call over to our Chief Executive Officer, Craig Peters.

Craig Peters

Thanks, Steven, and thanks to everyone joining Getty Images third quarter 2022 earnings call. I will address high-level business performance and progress, before Jenn takes you through the more detailed third quarter financial results. Third quarter reported revenues were $230.5 million. This is down 2.8% year-on-year on a reported basis, but up 2.8% on a currency-neutral basis. Our adjusted EBITDA finished at $77.7 million, down 4.8% year-on-year, but up 2.3% on a currency-neutral basis.