PINTEREST, INC. (PINS): Results of Operations and Financial Condition
PINTEREST, INC. (PINS) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Pinterest Announces Second Quarter 2026 Results, Delivers 18% Revenue Growth and Record Users Q2 Revenue of $1,180 million, an increase of 18% on a reported and 17% on a constant currency basis All-time high of 640 million global monthly active users, an increase of
How this was made
The 30-second read
Why it matters
Traders can update models using the disclosed Q2 performance and the explicit Q3 revenue and Adjusted EBITDA ranges, and reassess the sustainability of user growth and monetization tied to AI personalization.
Market read
A complete earnings-and-guidance package with quantified growth, user metrics, cash flow, and capital return (buybacks) is likely to be a primary driver of near-term sentiment and estimate changes.
What to watch
The guidance assumes a modest foreign-exchange headwind; FX moves could shift reported revenue and complicate near-term comparisons.
Pinterest Announces Second Quarter 2026 Results, Delivers 18% Revenue Growth and Record Users
Revenue grew 18% year over year, global MAUs rose 11% to an all-time high of 640 million, Adjusted EBITDA increased 24%, and free cash flow increased 37%. These operating and cash flow gains were offset by a GAAP net loss of $46.7 million versus net income of $38.8 million in the prior-year period, while Q3 revenue guidance calls for 13% - 15% growth.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| RevenueGAAP | $1,179,654 (in thousands) | – | 18% |
| Constant currency revenuenon-GAAP | $1,169.3 million | – | 17% |
| Net income (loss)GAAP | $(46,669) (in thousands) | – | NM |
| Net income (loss) marginGAAP | (4)% | – | – |
| Non-GAAP net incomenon-GAAP | $249,518 (in thousands) | – | 9% |
| Adjusted EBITDAnon-GAAP | $311,307 (in thousands) | – | 24% |
| Adjusted EBITDA marginnon-GAAP | 26% | – | – |
| Net cash provided by operating activitiesGAAP | $292,885 (in thousands) | – | 41% |
| Free cash flownon-GAAP | $269,933 (in thousands) | – | 37% |
| MAUs - Globalother | 640 million | – | 11% |
| MAUs - U.S. and Canadaother | 106 million | – | 4% |
| MAUs - Europeother | 157 million | – | 8% |
| MAUs - Rest of Worldother | 377 million | – | 15% |
| ARPU - Globalother | $1.86 | – | 7% |
| ARPU - U.S. and Canadaother | $8.30 | – | 14% |
| ARPU - Europeother | $1.35 | – | 4% |
| ARPU - Rest of Worldother | $0.23 | – | 21% |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| U.S. and CanadaNo specific geographic revenue driver disclosed. | $880 million | – | 18% |
| EuropeNo specific geographic revenue driver disclosed. | $213 million | – | 12% |
| Rest of WorldNo specific geographic revenue driver disclosed. | $87 million | – | 38% |
Q3 2026 outlook
- Revenue$1,190 million to $1,210 million, representing 13% - 15% growth year over year
- NoteAdjusted EBITDA: $335 million to $355 million
- NoteRevenue outlook assumes a modest headwind from foreign exchange based on current spot rates.
Capital returns
- Completed over $2 billion of share repurchases year-to-date at an average price of $18.17.
What drove it
- Revenue grew 18% year over year, or 17% on a constant currency basis.
- Global MAUs increased 11% year over year to 640 million, described as an all-time high.
- Rest of World revenue increased 38% year over year and MAUs increased 15% year over year.
- U.S. and Canada ARPU increased 14% year over year to $8.30.
- Management said AI is improving personalization and actionability for users and performance for advertisers.
Concerns
- GAAP net loss was $(46,669) (in thousands), compared with GAAP net income of $38,755 (in thousands) in the prior-year period.
- Q3 2026 revenue guidance of 13% - 15% growth year over year includes a modest foreign exchange headwind.
- U.S. and Canada MAUs increased 4% year over year, below the 11% growth in global MAUs.
- Europe revenue increased 12% year over year, below total revenue growth of 18%.
What to watch
- Q3 2026 revenue within the guided range of $1,190 million to $1,210 million.
- Q3 2026 Adjusted EBITDA within the guided range of $335 million to $355 million.
- The effect of the stated modest foreign exchange headwind on Q3 revenue.
- Global MAU growth and geographic monetization, including ARPU in U.S. and Canada, Europe, and Rest of World.
- Whether AI-driven personalization and advertiser performance continue to create monetization opportunities over the long term.
Balance sheet and cash flow
- Net cash provided by operating activities was $292,885 (in thousands), compared with $207,693 (in thousands), an increase of 41%.
- Free cash flow was $269,933 (in thousands), compared with $196,683 (in thousands), an increase of 37%.
Analysis
Pinterest reported $1,179,654 (in thousands) of Q2 2026 revenue, up 18% year over year, with constant currency revenue growth of 17%. Global MAUs reached an all-time high of 640 million, up 11%, marking what management described as its 11th consecutive quarter of double digit user growth. Global ARPU rose 7% to $1.86, indicating that user growth and monetization both contributed to the period's revenue expansion.
Geographic performance was led by Rest of World, where revenue increased 38% to $87 million, MAUs increased 15% to 377 million, and ARPU increased 21% to $0.23. U.S. and Canada revenue increased 18% to $880 million and ARPU increased 14% to $8.30, while MAUs increased 4% to 106 million. Europe generated $213 million of revenue, up 12%, with MAUs up 8% and ARPU up 4% to $1.35.
Cash generation and adjusted profitability strengthened. Adjusted EBITDA increased 24% to $311,307 (in thousands), and the Adjusted EBITDA margin was 26%, compared with 25%. Net cash provided by operating activities increased 41% to $292,885 (in thousands), while free cash flow increased 37% to $269,933 (in thousands). However, GAAP net income shifted to a loss of $(46,669) (in thousands) from income of $38,755 (in thousands), even as non-GAAP net income increased 9% to $249,518 (in thousands).
Capital allocation included completion of over $2 billion of share repurchases year-to-date at an average price of $18.17. For Q3 2026, Pinterest expects revenue of $1,190 million to $1,210 million, representing 13% - 15% growth year over year, and Adjusted EBITDA of $335 million to $355 million. The outlook assumes a modest foreign exchange headwind based on current spot rates. Management positioned AI as a contributor to personalization, advertiser performance, and longer-term monetization opportunities.
Management, verbatim
Our Q2 results reflect the scale and strength of our platform: more than $1.1 billion in revenue, growing 18%, and 640 million monthly active users, our 11th consecutive quarter of double digit user growth.
Bill Ready, CEO of Pinterest
AI is at the heart of our momentum and is a clear accelerant for our business. It is trained on our unique human curation of style and taste, making Pinterest more personalized and actionable for users, while improving performance for advertisers and creating more opportunities to monetize over the long term.
Bill Ready, CEO of Pinterest
Not in the filing
stated, not guessed- Previous-release outlook was not provided, so comparison of actual results with prior guidance is unavailable.
- GAAP gross profit and gross margin were not provided in the supplied filing text.
- Non-GAAP gross profit and gross margin were not provided in the supplied filing text.
- GAAP operating income (loss) was not provided in the supplied filing text.
- Non-GAAP income (loss) from operations was not provided in the supplied filing text.
- GAAP and non-GAAP diluted earnings per share were not provided in the supplied filing text.
- Operating expenses and cost-of-revenue line items were not provided in the supplied filing text.
- Cash balance and debt balances were not provided in the supplied filing text.
- Dividend information was not provided in the supplied filing text.
- Q3 guidance for gross margin, operating expenses, and tax rate was not provided in the supplied filing text.
- Prior-quarter comparisons were not provided for the reported metrics.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is Pinterest’s SEC Form 8-K (Item 2.02) with its Q2 2026 results and Q3 2026 guidance, including non-GAAP metrics and cash flow.
Ticker impact
Pinterest reported Q2 2026 revenue of $1,180 million (+18% YoY), 640 million MAUs (+11% YoY), and guided Q3 revenue to $1,190-$1,210 million.
Likely positive bias for the next trading session and into earnings-model updates, assuming the market focuses on growth and cash flow.
The article includes concrete Q2 results (revenue, MAUs, ARPU, cash flow) and forward guidance ranges for Q3 revenue and Adjusted EBITDA, which are direct inputs to valuation and near-term expectations.
Market effects
Social media and ad-tech peers may see read-across on user growth durability and monetization progress tied to AI personalization.
U.S. and Canada revenue grew 18% YoY while Rest of World grew 38%, which may influence regional ad demand expectations.
Global MAUs reached an all-time high of 640 million, reinforcing broader engagement trends for global digital advertising inventory.
Counterpoint
GAAP net loss of $47 million despite revenue growth could temper enthusiasm if investors prioritize profitability trajectory over engagement metrics.
Key entities
- companyPinterest, Inc.
Reported Q2 2026 results, provided Q3 2026 revenue and Adjusted EBITDA guidance, and disclosed share repurchases year-to-date.
- personBill Ready
CEO quoted on AI-driven momentum and monetization opportunities.
