Pinterest(US:PINS)2025-11-04 21:16Financial Performance - Revenue for the three months ended September 30, 2025, was $1,049.2 million, representing a 17% increase compared to the same period in 2024[89] - Adjusted EBITDA for the three months ended September 30, 2025, was $306.1 million, up from $246.99 million in the same period of 2024[110] - Net income for the three months ended September 30, 2025, was $92.1 million, compared to $30.6 million in the same period of 2024[110] - Revenue for the three months ended September 30, 2025, increased by 17% to $1,049,205 thousand compared to $898,373 thousand for the same period in 2024[123] - Adjusted EBITDA for the three months ended September 30, 2025, was $306,051 thousand, up from $246,990 thousand in 2024, representing a 24% increase[121] - Net income for the three months ended September 30, 2025, was $92,108 thousand, compared to $30,556 thousand in 2024, reflecting a significant increase[121] - Free cash flow for the nine months ended September 30, 2025, was $871.5 million, compared to $689.8 million in 2024[112] - Adjusted EBITDA for the nine months ended September 30, 2025, was $728.5 million, reflecting a 30% increase from $561.4 million in the same period of 2024[134] User Metrics - Monthly active users (MAUs) reached 600 million, an increase of 12% year-over-year[89] - The number of average monthly active users (MAUs) increased by 12% for the three months ended September 30, 2025, compared to the same period in 2024[123] Revenue Breakdown - Average revenue per user (ARPU) globally was $1.78, a 5% increase from the previous year[100] - ARPU in the U.S. and Canada was $7.64, an increase of 5%, while Europe saw a 31% increase to $1.31, and Rest of World increased by 44% to $0.21[100] - Revenue from Europe increased by 41% to $193.2 million for the three months ended September 30, 2025, compared to the same period in 2024[124] Expenses - Research and development expenses for the three months ended September 30, 2025, increased by 14% to $371,253 thousand from $326,679 thousand in 2024[126] - Sales and marketing expenses for the three months ended September 30, 2025, rose by 19% to $296,679 thousand compared to $249,033 thousand in 2024[127] - Cost of revenue for the three months ended September 30, 2025, was $212,325 thousand, an increase of 13% from $187,453 thousand in 2024[125] - General and administrative expenses decreased by 22% to $110,432 thousand for the three months ended September 30, 2025, compared to $141,124 thousand in 2024[128] - Share-based compensation expense was $235.1 million, an increase of $27.2 million compared to the same period in 2024[89] Cash and Investments - Cash, cash equivalents, and marketable securities totaled $2,671.3 million as of September 30, 2025[89] - As of September 30, 2025, the company had $2,671.3 million in cash, cash equivalents, and marketable securities, with $190.5 million held by foreign subsidiaries[135] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $893.1 million, an increase of $182.5 million compared to $710.6 million in 2024[145] Share Repurchase and Credit Facilities - The company repurchased 12,180,904 shares of Class A common stock for an aggregate purchase price of $427.0 million at an average price of $35.06 per share during the nine months ended September 30, 2025[143] - The company amended its revolving credit facility in October 2023, increasing the aggregate commitment to $500.0 million[137] - The company is in compliance with all covenants under the revolving credit facility as of September 30, 2025[140] - The company anticipates that existing cash and available credit will be sufficient to meet working capital and capital expenditure needs over the next 12 months[141] Other Financial Information - Interest income (expense), net for the three months ended September 30, 2025, was $28,536 thousand, a decrease of 12% from $32,477 thousand in 2024[129] - The company has not engaged in hedging activities related to foreign currency exchange risk, although it may consider doing so in the future[156] - The company continues to invest in relevance and personalization, contributing to the growth in MAUs[94]