Getty Images Holdings, Inc. (NYSE:GETY) Q3 2024 Earnings Call Transcript November 7, 2024 4:30 PM ET

Company Participants

Steven Kanner - Investor Relations
Craig Peters - Chief Executive Officer
Jennifer Leyden - Chief Financial Officer

Conference Call Participants

Alex Lavigne - The Benchmark Company

Operator

Good afternoon, and welcome to Getty Images' Third Quarter 2024 Earnings Conference Call. Today's call is being recorded. We have allocated one hour for prepared remarks and Q&A. At this time, I'd 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 2024 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. Reconciliations 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 thank you to everyone for joining us on today's call. I will touch on our performance and progress at a high level before Jenn takes you through the more complete full third quarter financial results. I am pleased to report we delivered a strong performance in the third quarter with revenue of $240.5 million, representing a year-on-year increase of 4.9% on a reported basis and 5.4% on a currency-neutral basis. Adjusted EBITDA came in at $80.6 million for the quarter, up 0.4% on a reported basis and up 0.8% on a currency-neutral basis with a healthy EBITDA margin of 33.5%. These positive results reflect growth across each of Getty Images, iStock and Unsplash+.