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SHUTTERFLY INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2019 10-Q, filed Aug 7, 2019. Its latest SEC filing is a 15-12B from Oct 7, 2019.

The sections below describe the company as of the Q4 FY2018 annual report.

What Did They Do?

Sells personalized photo products and professional photography services to consumers and schools, plus digital printing and personalized communications for businesses.

How Did They Make Money?

Shutterfly customers pay by credit card, charged when personalized product orders ship; Lifetouch customers pay by card or send payment with school-picture forms, and orders are shipped or made available for pickup. SBS invoices businesses for printing and communications as it performs the work.

revenue

Who Were Their Customers?

Consumers order through Shutterfly’s website or mobile apps; Lifetouch school-picture customers use its website or paper forms, while studio and church customers can order in person. Business customers buy personalized communications and printing from SBS.

Did Revenues Turn Into Profits?

Yes. It kept 3 cents of every revenue dollar as net income in .

Operating income,
6% of revenue
▲ +87% vs ($61.6M, 5%)
Net income,
3% of revenue
▲ +68% vs ($30.1M, 3%)

How Were They Changing?

Since the Q4 FY2018 annual report
Latest quarter: Q2 FY2019, the three months to Jun 30, 2019
Revenue
▲ +7%
vs $443.4M in Q2 FY2018
Net income
▼ −52% (Loss)
vs −$26.5M in Q2 FY2018
  • Sep 25, 2019 Shutterfly became a wholly owned subsidiary after its acquisition by Apollo affiliates Stockholders were entitled to $51.00 per share in cash, and Shutterfly requested Nasdaq delisting.
  • Jul 19, 2019 Shutterfly agreed to a merger with an Apollo-affiliated buyer
  • Jun 24, 2019 Board elected incoming CEO Ryan O’Hara as a director

Grew. Revenue grew 2.1x in 4 years, from $921.6M in to $2B in , about 21% a year.

Added school photography Earlier business descriptions centered on consumers’ photo products and services, alongside enterprise printing; the latest report adds Lifetouch’s school and family photography operations.

Who Did They Compete With?

Competes with Snapfish, Vistaprint, Facebook, Twitter, Pinterest, Snapchat, Apple, Wal-Mart, Costco, Sam’s Club, Target, Walgreens, CVS/pharmacy, PaperSource, Crane &, Papyrus, Dropbox, Box, Hallmark, and Minted

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