Pinterest, Inc. · NYSE:PINS

Pinterest — Q3 2023 Earnings Presentation

16 slides from Pinterest's earnings presentation, Oct 30, 2023

  1. Slide 1: © 2023 Pinterest. All rights reserved.

    © 2023 Pinterest. All rights reserved.

  2. Slide 2: Non-GAAP Limitation of Key Metrics

    Non-GAAP Limitation of Key Metrics Financial Measures and Other Data To supplement our condensed consolidated financial statements, which are prepared The numbers for our key metrics, which include our monthly active users (MAUs) and and presented in accordance with generally accepted accounting pri

  3. Slide 3: Maybelline Canada Premiere Spotlight case study

    “ We loved the opportunity to innovate Maybelline Canada and be first to market with these two new high-impact takeover solutions. The results were outstanding so we know we’ll continue to leverage Premiere Spotlight for big moments" Sabrina Pallotta General Manager, Maybelline Canada Looking for ne

  4. Slide 4: Creator story: Theresa Chong and shopping features

    “ I always encourage my audience to have fun with their food, so I love how Pinterest’s shopping features help me highlight the best tools and ingredients so viewers can easily build my creative recipes at home” Theresa Chong is a former engineer and journalist who traded in her construction boots f

  5. Slide 5: Q323 Business Highlights

    Q323 Business We’re growing our engagement, including shopping engagement • Q3 ended at 482 million MAUs, up 8%, which is our all-time highest MAU count. Highlights • As we noted at our Investor Day, we're seeing strength with our Gen Z users, who are our fastest-growing, and most engaged users. We

  6. Slide 6: Revenue

    Revenue (in millions) 8% 4% 5% 6% 11% +11% Global Y/Y $877 $32 +8% $763 $708 $31 $685 $123 $29 $24 $603 US & Canada Y/Y $114 $24 $86 $114 $93 $575 $722 $486 $565 $618 +33% Europe Y/Y +29% Q322 Q422 Q123 Q223 Q323 US & Canada Europe Rest of World Y/Y growth rate Rest of World Y/Y Note: Revenue is geo

  7. Slide 7: Monthly active users

    Monthly active users (in millions) 7% 8% 8% +8%Global Y/Y 4% 0% 482 +1% 463 465 445 450 US & Canada Y/Y 240 246 258 230 231 120 124 128 124 128 +7%Europe Y/Y 95 95 95 95 96 +12% Q322 Q422 Q123 Q223 Q323 US & Canada Europe Rest of World Y/Y growth rate Rest of World Y/Y Note: We define a monthly acti

  8. Slide 8: Average revenue per user

    Average revenue per user Global US & Canada $7.60 +3%Global Y/Y $6.46 $6.13 $5.92 $5.11 $1.56 $1.96 $1.32 $1.53 $1.61 +5% US & Canada Y/Y Q322 Q422 Q123 Q223 Q323 Q322 Q422 Q123 Q223 Q323 Europe Rest of World +26% Europe Y/Y $0.72 $1.01 $0.74 $0.91 $0.91 $0.11 $0.14 $0.10 $0.12 $0.12 Q322 Q422 Q123

  9. Slide 9: Non-GAAP costs and expenses

    Non-GAAP costs and expenses (in millions) Cost of Revenue % of revenue R&D % of revenue (7%) COR Y/Y 26% 28% 23% 22% 24% 28% 23% 20% 19% 20% $178 $177 $167 $164 $167 $165 $165 $168 $160 $152 (8%) R&D Y/Y Q322 Q422 Q123 Q223 Q323 Q322 Q422 Q123 Q223 Q323 S&M 30% 30% 30% 31% % of revenue G&A 11% % of

  10. Slide 10: Adjusted EBITDA

    Adjusted EBITDA (in millions) 22% 24% 11% 15% 4% $196 $185 +139% Adj. EBITDA Y/Y $107 $77 $27 Q322 Q422 Q123 Q223 Q323 Adjusted EBITDA Adjusted EBITDA Margin % Note: Adjusted EBITDA is a non-GAAP financial measure. We define adjusted EBITDA as net income (loss) adjusted to exclude depreciation and a

  11. Slide 11: Appendix

    Appendix © 2023 Pinterest. All rights reserved. 11

  12. Slide 12: GAAP to non-GAAP costs and expenses reconciliation

    GAAP to non-GAAP costs and expenses reconciliation (in millions) Quarter ended September 30, 2023 GAAP Share-based compensation Amortization Other expense1 Non-GAAP Cost of revenue $171.0 $3.0 $1.5 $0.0 $166.5 Research and development 264.7 112.9 0.0 0.0 151.8 Sales and marketing 225.9 25.9 0.1 0.0

  13. Slide 13: GAAP to non-GAAP costs and expenses reconciliation

    GAAP to non-GAAP costs and expenses reconciliation (in millions) Quarter ended March 31, 2023 GAAP Share-based compensation Amortization Other expense1 Non-GAAP Cost of revenue $170.9 $2.3 $1.5 $0.0 $167.1 Research and development 266.3 94.3 0.0 4.1 168.0 Sales and marketing 201.1 19.2 0.1 2.7 179.1

  14. Slide 14: GAAP to non-GAAP costs and expenses reconciliation

    GAAP to non-GAAP costs and expenses reconciliation (in millions) Quarter ended September 30, 2022 GAAP Share-based compensation Amortization Other expense Non-GAAP Cost of revenue $182.6 $2.2 $2.0 $0.0 $178.4 Research and development 254.7 89.7 0.0 0.0 165.0 Sales and marketing 229.9 23.3 3.4 0.0 20

  15. Slide 15: Adjusted EBITDA reconciliation

    Adjusted EBITDA reconciliation Reconciliation of net income (loss) to adjusted EBITDA (in millions) Three months ended September 30, 2022 December 31, 2022 March 31, 2023 June 30, 2023 September 30, 2023 Net income (loss) $(65.2) $17.5 $(208.6) $(34.9) $6.7 Depreciation and amortization 10.5 19.6 6.

  16. Slide 16: © 2023 Pinterest. All rights reserved.

    © 2023 Pinterest. All rights reserved.

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