Core Insights - Pinterest reported Q1 revenue of $855 million, exceeding analyst expectations of $846.3 million [1] - The monthly active user count for Q1 was 570 million, significantly higher than the analyst forecast of 163.9 million [1] - The average revenue per user (ARPU) for Q1 was $1.52, slightly above the expected $1.50 [1] - For Q2, Pinterest expects revenue between $960 million and $980 million, compared to analyst expectations of $963.7 million [1] - The anticipated revenue growth for Q2 is projected at 12%-15% [1] - Adjusted EBITDA for Q2 is expected to be between $217 million and $237 million, while analysts forecasted $237.4 million [1] - Following the earnings report, Pinterest's stock rose by 7.68% in after-hours trading, later increasing to 11.81% [1]

Core Insights - Pinterest's shares increased by 10% in extended trading following the release of first-quarter earnings and better-than-expected guidance for the second quarter [1] - The company anticipates second-quarter sales between $960 million and $980 million, surpassing analysts' expectations of $966 million [1] Financial Performance - Pinterest reported 570 million monthly active users in Q1, exceeding Wall Street's estimate of 565 million [2] - Q1 sales from the U.S. and Canada were $663 million, slightly below the expected $664 million, while Europe revenue was $147 million, surpassing projections of $141 million [2] - The company achieved $172 million in adjusted EBITDA for Q1, exceeding the $164 million expected by analysts, with an EBITDA margin of 20% compared to the anticipated 19.4% [3] - Global average revenue per user for Q1 was $1.52, aligning with analysts' estimates [3] Strategic Outlook - CEO Bill Ready emphasized the resilience of Pinterest amid evolving macroeconomic conditions and the digital advertising landscape, asserting strong business fundamentals and healthy growth [4] - The company is navigating challenges in the online advertising sector, particularly in light of broader economic uncertainties and trade disputes [4]

[Executive Summary](index=1&type=section&id=Executive%20Summary) [Q1 2025 Performance Overview](index=1&type=section&id=Q1%202025%20Performance%20Overview) Pinterest reported strong first-quarter 2025 results, achieving 16% revenue growth and a record 570 million global monthly active users, an increase of 10% year-over-year | Metric | Q1 2025 | Growth (YoY) | Constant Currency Growth (YoY) | | :----- | :------ | :----------- | :----------------------------- | | Revenue | $855 million | 16% | 17% | | Global MAUs | 570 million | 10% | N/A | [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Bill Ready highlighted continued momentum in revenue, user growth, and engagement, attributing the company's resilience to its strategy and consistent execution amidst an evolving macroeconomic and digital ad landscape - Pinterest's strategy and consistent execution have made the company more resilient, with strong business fundamentals and healthy growth[2](index=2&type=chunk) - AI advancements are helping users make more intentional shopping decisions and driving performance for advertisers, contributing to market share gains and a solid foundation for long-term growth[2](index=2&type=chunk) [Q1 2025 Financial Highlights](index=1&type=section&id=Q1%202025%20Financial%20Highlights) [Consolidated Financial Results](index=1&type=section&id=Consolidated%20Financial%20Results) Pinterest's Q1 2025 saw significant improvements in profitability, moving from a net loss to a net income, alongside strong growth in revenue and Adjusted EBITDA | Metric | Three Months Ended March 31, 2025 (in thousands) | Three Months Ended March 31, 2024 (in thousands) | % Change | | :-------------------------- | :-------------------------------- | :-------------------------------- | :------- | | Revenue | $854,988 | $739,983 | 16 % | | Constant currency % growth | N/A | N/A | 17 % | | Net income (loss) | $8,922 | $(24,812) | NM | | Net income (loss) margin | 1 % | (3)% | N/A | | Non-GAAP net income | $159,562 | $119,846 | 33 % | | Adjusted EBITDA | $171,649 | $126,089 | 36 % | | Adjusted EBITDA margin | 20 % | 17 % | N/A | | Net cash provided by operating activities | $363,706 | $356,146 | 2 % | | Free cash flow | $356,417 | $344,033 | 4 % | [Key Financial Metrics Summary](index=1&type=section&id=Key%20Financial%20Metrics%20Summary) The company achieved robust financial performance in Q1 2025, marked by double-digit revenue growth, a significant increase in global users, and positive GAAP net income and strong Adjusted EBITDA - Revenue reached **$855 million**, a **16%** year-over-year increase (**17%** on a constant currency basis)[4](index=4&type=chunk) - Global Monthly Active Users (MAUs) grew **10%** year-over-year to **570 million**[4](index=4&type=chunk) - GAAP net income was **$9 million**, and Adjusted EBITDA was **$172 million**[4](index=4&type=chunk) - Net cash provided by operating activities was **$364 million**, with free cash flow at **$356 million**[4](index=4&type=chunk) [Q1 2025 Operational Highlights](index=2&type=section&id=Q1%202025%20Operational%20Highlights) [Geographic Performance](index=2&type=section&id=Geographic%20Performance) Pinterest demonstrated strong growth across all geographic regions in Q1 2025, with the Rest of World segment leading in both revenue and ARPU growth, while Europe showed significant ARPU improvement | Metric | Q1 2025 (Millions) | Q1 2024 (Millions) | % Change | | :-------------------- | :----------------- | :----------------- | :------- | | **Revenue - Global** | $855 | $740 | 16 % | | Revenue - U.S. and Canada | $663 | $592 | 12 % | | Revenue - Europe | $147 | $118 | 24 % | | Revenue - Rest of World | $45 | $30 | 49 % | | **MAUs - Global** | 570 | 518 | 10 % | | MAUs - U.S. and Canada | 102 | 98 | 4 % | | MAUs - Europe | 148 | 140 | 5 % | | MAUs - Rest of World | 320 | 279 | 14 % | | **ARPU - Global** | $1.52 | $1.46 | 5 % | | ARPU - U.S. and Canada | $6.54 | $6.05 | 8 % | | ARPU - Europe | $1.00 | $0.86 | 17 % | | ARPU - Rest of World | $0.14 | $0.11 | 29 % | [Business Outlook](index=3&type=section&id=Business%20Outlook) [Q2 2025 Guidance](index=3&type=section&id=Q2%202025%20Guidance) Pinterest provided guidance for Q2 2025, projecting continued revenue growth and a healthy range for Adjusted EBITDA | Metric | Q2 2025 Guidance | | :---------------- | :--------------- | | Revenue | $960M - $980M | | Revenue Growth YoY | 12% - 15% | | Adjusted EBITDA | $217M - $237M | [Guidance Disclaimer](index=3&type=section&id=Guidance%20Disclaimer) The company has not provided a GAAP reconciliation for its forward-looking Adjusted EBITDA guidance due to the inherent uncertainty and variability of reconciling items like share-based compensation and income taxes - A GAAP reconciliation for forward-looking Adjusted EBITDA is not provided due to the uncertainty and potential variability of reconciling items such as share-based compensation expense and income taxes[7](index=7&type=chunk) - Material changes to reconciling items could significantly affect future GAAP results, and any reconciliation provided might imply a misleading degree of precision[7](index=7&type=chunk) [Additional Company Information](index=4&type=section&id=Additional%20Company%20Information) [Webcast and Conference Call Information](index=4&type=section&id=Webcast%20and%20Conference%20Call%20Information) Details for accessing the live audio webcast and replay of the Q1 2025 earnings call, along with related materials, are provided for investors - A live audio webcast of the Q1 2025 earnings call is available at investor.pinterestinc.com, starting May 8, 2025, at 1:30 PM (PT) / 4:30 PM (ET)[9](index=9&type=chunk) - The press release, non-GAAP reconciliations, and slide presentation are also available, with a webcast recording accessible for 90 days[9](index=9&type=chunk) - The investor relations website (investor.pinterestinc.com) is used for disclosing material nonpublic information and fulfilling Regulation FD obligations[10](index=10&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This section outlines the nature of forward-looking statements, emphasizing that they involve substantial assumptions, risks, and uncertainties that could cause actual results to differ materially from projections - Forward-looking statements are identified by specific terminology and relate to future events, involving known and unknown risks, uncertainties, and assumptions[11](index=11&type=chunk) - Key risks include general economic uncertainty, financial performance, user attraction and retention, product development, brand reputation, security compromises, competition, international expansion, AI development, and regulatory compliance[11](index=11&type=chunk) - Investors should not place undue reliance on these statements, which are based on information available as of May 8, 2025, and the company undertakes no duty to update them unless required by law[11](index=11&type=chunk) [About Non-GAAP Financial Measures](index=5&type=section&id=About%20Non-GAAP%20Financial%20Measures) Pinterest utilizes various non-GAAP financial measures to supplement its GAAP financial statements, providing additional insights into operating results and aiding financial decision-making - Non-GAAP financial measures, including Adjusted EBITDA, non-GAAP net income, and free cash flow, are used to supplement GAAP statements and evaluate operating results[12](index=12&type=chunk) - These measures help identify underlying business trends by excluding certain income and expenses, enhancing transparency for management and investors[13](index=13&type=chunk) - Limitations exist, such as the exclusion of recurring non-cash charges (depreciation, amortization, share-based compensation) and the impact of foreign currency changes on constant currency revenue[13](index=13&type=chunk) [Definitions and Limitations](index=5&type=section&id=Definitions%20and%20Limitations) - Adjusted EBITDA is defined as net income (loss) adjusted for depreciation, amortization, share-based compensation, payroll tax related to share-based compensation, interest, other income/expense, and income taxes, along with certain non-recurring items[13](index=13&type=chunk) - Non-GAAP costs and expenses, and non-GAAP net income, exclude amortization of acquired intangible assets, share-based compensation, and related payroll tax expense. Non-GAAP net income also applies a fixed long-term projected tax rate (**20%** for 2024 and 2025)[13](index=13&type=chunk) - Free cash flow is defined as net cash provided by operating activities less purchases of property and equipment, and constant currency revenue translates current period revenue using prior period exchange rates[13](index=13&type=chunk) [Limitation of Key Metrics and Other Data](index=6&type=section&id=Limitation%20of%20Key%20Metrics%20and%20Other%20Data) Pinterest defines and explains its key metrics, Monthly Active Users (MAUs) and Average Revenue Per User (ARPU), acknowledging inherent challenges in measuring these metrics across a large global user base - MAU is defined as an authenticated Pinterest user visiting the website, mobile app, or interacting via browser/site extensions at least once during a 30-day period[15](index=15&type=chunk) - ARPU is calculated as total revenue in a given geography divided by the average MAUs in that geography during the period[15](index=15&type=chunk) - There are inherent challenges in measuring usage across large online populations, and estimates may change due to improvements in technology or methodology[15](index=15&type=chunk) [Contact Information](index=6&type=section&id=Contact%20Information) Contact details for press and investor relations are provided for inquiries - Press inquiries can be directed to Tessa Chen at press@pinterest.com[16](index=16&type=chunk) - Investor relations inquiries can be directed to Andrew Somberg at ir@pinterest.com[16](index=16&type=chunk) [Condensed Consolidated Financial Statements](index=7&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The condensed consolidated balance sheets provide a snapshot of Pinterest's financial position as of March 31, 2025, and December 31, 2024, detailing assets, liabilities, and stockholders' equity | ASSETS (in thousands) | March 31, 2025 | December 31, 2024 | | :-------------------- | :------------- | :---------------- | | Total current assets | $3,402,258 | $3,484,707 | | Total assets | $5,282,696 | $5,342,660 | | LIABILITIES AND STOCKHOLDERS' EQUITY (in thousands) | | | | Total current liabilities | $404,399 | $398,133 | | Total liabilities | $594,227 | $591,506 | | Total stockholders' equity | $4,688,469 | $4,751,154 | [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The condensed consolidated statements of operations present Pinterest's financial performance for the three months ended March 31, 2025, and 2024, showing revenue, costs, and net income (loss) | (in thousands, except per share amounts) | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--------------------------------------- | :-------------------------------- | :-------------------------------- | | Revenue | $854,988 | $739,983 | | Total costs and expenses | $890,465 | $794,399 | | Loss from operations | $(35,477) | $(54,416) | | Net income (loss) | $8,922 | $(24,812) | | Net income (loss) per share: Basic | $0.01 | $(0.04) | | Net income (loss) per share: Diluted | $0.01 | $(0.04) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The condensed consolidated statements of cash flows detail the cash generated and used by Pinterest across operating, investing, and financing activities for the three months ended March 31, 2025, and 2024 | (in thousands) | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--------------------------------------- | :-------------------------------- | :-------------------------------- | | Net cash provided by operating activities | $363,706 | $356,146 | | Net cash provided by (used in) investing activities | $11,949 | $(3,119) | | Net cash used in financing activities | $(260,701) | $(82,952) | | Net increase in cash, cash equivalents and restricted cash | $115,856 | $269,366 | | Cash, cash equivalents and restricted cash, end of period | $1,257,077 | $1,637,898 | [Reconciliation of GAAP to Non-GAAP Financial Results](index=10&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Results) [Share-Based Compensation, Payroll Tax, and Amortization](index=10&type=section&id=Share-Based%20Compensation,%20Payroll%20Tax,%20and%20Amortization) This section provides a detailed breakdown of share-based compensation, related payroll tax expense, and amortization of acquired intangible assets by function, which are key adjustments for non-GAAP calculations | (in thousands) | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--------------------------------------- | :-------------------------------- | :-------------------------------- | | Total share-based compensation | $187,426 | $162,473 | | Total payroll tax expense related to share-based compensation | $13,852 | $13,171 | | Total amortization of acquired intangible assets | $1,840 | $1,840 | [Adjusted EBITDA Reconciliation](index=10&type=section&id=Adjusted%20EBITDA%20Reconciliation) The reconciliation details the adjustments made to GAAP net income (loss) to arrive at Adjusted EBITDA, providing a clearer view of operational performance by excluding non-cash and non-recurring items | (in thousands) | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--------------------------------------- | :-------------------------------- | :-------------------------------- | | Net income (loss) | $8,922 | $(24,812) | | Depreciation and amortization | $5,848 | $4,861 | | Share-based compensation | $187,426 | $162,473 | | Payroll tax expense related to share-based compensation | $13,852 | $13,171 | | Interest (income) expense, net | $(27,293) | $(31,266) | | Other (income) expense, net | $(4,519) | $4,526 | | Benefit from income taxes | $(12,587) | $(2,864) | | **Adjusted EBITDA** | **$171,649** | **$126,089** | [Non-GAAP Net Income and Free Cash Flow Reconciliation](index=11&type=section&id=Non-GAAP%20Net%20Income%20and%20Free%20Cash%20Flow%20Reconciliation) This section reconciles GAAP net income (loss) to non-GAAP net income and presents the calculation of free cash flow, offering alternative performance metrics for investors | (in thousands, except per share amounts) | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--------------------------------------- | :-------------------------------- | :-------------------------------- | | Net income (loss) | $8,922 | $(24,812) | | Share-based compensation | $187,426 | $162,473 | | Payroll tax expense related to share-based compensation | $13,852 | $13,171 | | Amortization of acquired intangible assets | $1,840 | $1,840 | | Income tax effects and tax adjustments | $(52,478) | $(32,826) | | **Non-GAAP net income** | **$159,562** | **$119,846** | | Non-GAAP net income per share | $0.23 | $0.17 | | Net cash provided by operating activities | $363,706 | $356,146 | | Less: Purchases of property and equipment | $(7,289) | $(12,113) | | **Free cash flow** | **$356,417** | **$344,033** | - Payroll tax expense related to share-based compensation is now excluded from Adjusted EBITDA and non-GAAP net income to better reflect core business operations, with prior periods restated[26](index=26&type=chunk) - The non-GAAP income tax provision uses a fixed long-term projected tax rate of **20%** for 2024 and 2025, subject to annual re-evaluation[13](index=13&type=chunk)[26](index=26&type=chunk)

Pinterest is introducing new features to let users find ideas that match their personal tastes.The new visual search tools, announced Monday (May 5), will first be available for women’s fashion content in the U.S., Canada and the U.K., eventually moving to more categories.“Our visual search technology represents a shift in how users interact with and discover inspiration,” Dana Cho, Pinterest vice president of design, said in a news release. “We’re not simply delivering search results — we’re curating a per ...

Pinterest, Inc. (PINS) is scheduled to report first-quarter 2025 results on May 8, after the closing bell. The company pulled off a trailing four-quarter earnings surprise of 13.24%, on average. It is expected to witness top-line expansion year over year, driven by increasing user engagement in the United States, Canada and Europe. Initiatives to introduce artificial intelligence (AI) and automation-powered ad products and rising engagement among Gen Z users are positive factors. Factors at PlayPinterest is ...

Core Viewpoint - Analysts expect Pinterest to report quarterly earnings of $0.25 per share, reflecting a 25% year-over-year increase, with revenues projected at $845.74 million, up 14.3% from the previous year [1] Earnings Projections - The consensus EPS estimate has been revised downward by 30.8% in the past 30 days, indicating a reassessment by covering analysts [1][2] Revenue Estimates by Geography - Geographic Revenue for Europe is expected to reach $140.71 million, a 19.3% increase year-over-year [4] - Revenue from the Rest of the World is projected at $46.93 million, indicating a significant 56.4% year-over-year growth [4] - U.S. and Canada revenue is estimated at $658.10 million, reflecting an 11.2% increase from the prior year [4] Monthly Active Users (MAU) Estimates - Global Monthly Active Users are projected to reach 562 million, up from 518 million year-over-year [5] - International Monthly Active Users are estimated at 313 million, compared to 279 million in the same quarter last year [5] - U.S. and Canada Monthly Active Users are expected to be 101 million, an increase from 98 million year-over-year [5] Additional Metrics - Monthly Active Users in Europe are forecasted to reach 148 million, up from 140 million year-over-year [6] - Average Revenue Per User (ARPU) in the U.S. and Canada is projected at $6.62, compared to $6.05 in the same quarter last year [6] Stock Performance - Pinterest shares have returned +4.2% over the past month, outperforming the Zacks S&P 500 composite's +0.4% change [7]

Pinterest is upgrading its visual search feature with a handful of new capabilities. On Monday, the company announced it’s rolling out new functionality to improve its feature that allows users to search using an image instead of text. This includes new tools to more precisely narrow and refine searches, as well as those that make visual search more accessible across Pinterest’s website. The company believes the new additions will help Pinterest stand out as a search engine for things users may otherwise h ...

Core Insights - Pinterest (NYSE: PINS) presents an attractive growth narrative for investors, with projected revenue of $3.65 billion in 2024, reflecting a 19% year-over-year increase, and a rise in monthly active users (MAUs) by 11% to 553 million [1] Revenue and User Growth - In 2024, Pinterest is expected to achieve $3.65 billion in revenue, marking a 19% increase compared to the previous year [1] - The company’s MAUs increased by 11%, reaching 553 million [1] - Analyst consensus from Refinitiv anticipates continued MAU growth of over 10% in 2025, alongside revenue growth [1]

Between the uncertainty caused by President Donald Trump's tariff policy, consumers being increasingly reluctant to spend on discretionary purchases, and several other factors, a U.S. recession in 2025 looks a lot more likely than it did a few months ago. A rock-solid financial institution at a discount Bank of America (BAC 3.82%) is a stock I've owned for more than a decade, but I just added more for the first time in several years. With shares trading for 23% below recent highs, and near their lowest pric ...

Pinterest (PINS) closed at $24.68 in the latest trading session, marking a +1.94% move from the prior day. This move lagged the S&P 500's daily gain of 2.51%. Meanwhile, the Dow gained 2.66%, and the Nasdaq, a tech- heavy index, added 2.71%. The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 34% of over 250 industries. The Zacks Industry Rank gauges the strength of our industry groups by mea ...