PINS 8-K: Smart Summary
89% reduction- Pinterest reported Q1 2026 financial results on May 4, 2026, announcing revenue of $1B, an 18% year-over-year increase, surpassing the $1B quarterly threshold for the first time.
- Global MAUs reached an all-time high of 631 million, representing the tenth consecutive quarter of double-digit user growth.
- The company completed approximately $2B of near-term share repurchases during the quarter.
Item 2.02: Results of Operations and Financial Condition
Financial Highlights
- Revenue: $1B ($1B), up 18% YoY (15% on constant currency basis)
- GAAP Net Loss: ($73.6M), vs. net income of $8.9M in Q1 2025 (NM change); GAAP net loss margin of (7)% vs. 1% in Q1 2025
- Non-GAAP Net Income: $174.5M, up 9% YoY from $159.6M
- Non-GAAP EPS (diluted): $0.27 vs. $0.23 in Q1 2025
- GAAP EPS (basic and diluted): $(0.12) vs. $0.01 in Q1 2025
- Adjusted EBITDA: $206.5M, up 20% YoY from $171.6M; Adjusted EBITDA margin: 20% (unchanged YoY)
- GAAP Loss from Operations: ($80.3M) vs. ($35.5M) in Q1 2025
- Net Cash Provided by Operating Activities: $328M, down 10% YoY from $363.7M
- Free Cash Flow: $311.7M, down 13% YoY from $356.4M
Segment Results
- U.S. and Canada Revenue: $750M, up 13% YoY; MAUs 106 million (+4% YoY); ARPU $7.12 (+9% YoY)
- Europe Revenue: $186M, up 27% YoY; MAUs 159 million (+7% YoY); ARPU $1.17 (+17% YoY)
- Rest of World Revenue: $72M, up 59% YoY; MAUs 367 million (+15% YoY); ARPU $0.20 (+38% YoY)
- Global MAUs: 631 million, up 11% YoY; Global ARPU: $1.61 (+6% YoY)
Capital Allocation
- Completed approximately $2B of near-term share repurchases during Q1 2026; cash paid for repurchases of Class A common stock was $1.9B
- Shares repurchased for tax withholdings on release of RSUs and restricted stock awards: $68.9M
- Class A common stock shares outstanding decreased from 584,866 thousand (December 31, 2025) to 493,991 thousand (March 31, 2026)
- Proceeds from issuance of convertible notes, net of issuance costs: $985M; convertible notes, net on balance sheet: $980.2M as of March 31, 2026
- Cash and cash equivalents: $378.1M as of March 31, 2026, down from $969.3M as of December 31, 2025
- Marketable securities: $920.5M as of March 31, 2026, down from $1.5B as of December 31, 2025
- No dividends mentioned in the filing
Management Commentary
- "We delivered a strong start to 2026, with Q1 revenue surpassing $1B, up 18% year over year, and global monthly active users growing to 631 million, our tenth consecutive quarter of double-digit user growth," said Bill Ready, CEO of Pinterest.
- "Pinterest is where online discovery leads to real-world action, and we're seeing continued momentum driven by our differentiated visual search product experiences. As we continue building an AI-powered ads platform that delivers performance for advertisers, we remain focused on ensuring monetization more fully reflects the strength of our engagement," said Bill Ready, CEO of Pinterest.
Guidance
- Q2 2026 revenue expected in the range of $1.1B to $1.2B, representing 14%–16% growth year over year
- Foreign exchange impact assumed to be approximately 1 point of tailwind based on current spot rates
- Q2 2026 Adjusted EBITDA expected in the range of $256M to $276M
- No full-year guidance provided in this release
Item 5.02: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Appointments
- Principal Accounting Officer Julia Brau Donnelly — appointed by the Board of Directors in addition to her existing role as Chief Financial Officer; effective May 8, 2026
Departures
- Chief Accounting Officer Andrea Acosta — resigned to pursue another opportunity; departure is not the result of any disagreement with the Company; effective May 8, 2026
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