Slide 1: © 2024 Pinterest. All rights reserved.
© 2024 Pinterest. All rights reserved.
Slide 2: Non-GAAP Financial Measures 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
Slide 3: Revenue
Revenue (in millions) 5% 6% 11% 12% +12% Global Y/Y 4% $981 $41 +8% $877 $32 $763 $162 $123 $708 $31 US & Canada Y/Y $29 $603 $114 $24 $114 $93 $722 $565 $618 $779 +32% Europe Y/Y $486 +27% Q422 Q123 Q223 Q323 Q423 US & Canada Europe Rest of World Y/Y growth rate Rest of World Y/Y Note: Revenue is g
Slide 4: Monthly active users
Monthly active users (in millions) 7% 8% 8% 11% +11% Global Y/Y 4% 498 482 +2% 463 465 450 US & Canada Y/Y 266 240 246 258 231 124 128 124 128 135 +8%Europe Y/Y 95 95 95 96 97 +15% Q422 Q123 Q223 Q323 Q423 US & Canada Europe Rest of World Y/Y growth rate Rest of World Y/Y Note: We define a monthly a
Slide 5: Average revenue per user
Average revenue per user Global US & Canada $7.60 $8.07 +2%Global Y/Y $6.46 $5.92 $5.11 $1.96 $1.32 $1.53 $1.61 $2.00 +6% US & Canada Y/Y Q422 Q123 Q223 Q323 Q423 Q422 Q123 Q223 Q323 Q423 Europe Rest of World +23% Europe Y/Y $1.01 $0.91 $0.91 $1.23 $0.74 $0.14 $0.10 $0.12 $0.12 $0.15 Q422 Q123 Q223
Slide 6: Non-GAAP costs and expenses
Non-GAAP costs and expenses (in millions) Cost of Revenue % of revenue R&D % of revenue (2%) COR Y/Y 28% 23% 22% 28% 23% 20% 18% 19% 20% 16% $177 $167 $164 $167 $174 $165 $168 $160 $152 $161 (3%) R&D Y/Y Q422 Q123 Q223 Q323 Q423 Q422 Q123 Q223 Q323 Q423 S&M 30% 30% 31% 26% % of revenue 22% G&A 11% %
Slide 7: Adjusted EBITDA
Adjusted EBITDA (in millions) 37% 22% 24% 15% 4% $365 $196 $185 +86% Adj. EBITDA Y/Y $107 $27 Q422 Q123 Q223 Q323 Q423 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
Slide 8: Appendix
Appendix © 2024 Pinterest. All rights reserved. 8
Slide 9: GAAP to non-GAAP costs and expenses reconciliation
GAAP to non-GAAP costs and expenses reconciliation (in millions) Quarter ended December 31, 2023 GAAP Share-based compensation Amortization Other expense Non-GAAP Cost of revenue $178.0 $3.1 $1.5 $0.0 $173.5 Research and development 268.0 107.2 0.0 0.0 160.7 Sales and marketing 240.9 25.4 0.1 0.0 21
Slide 10: GAAP to non-GAAP costs and expenses reconciliation
GAAP to non-GAAP costs and expenses reconciliation (in millions) Quarter ended June 30, 2023 GAAP Share-based compensation Amortization Other expense1 Non-GAAP Cost of revenue $168.7 $2.7 $1.5 $0.0 $164.5 Research and development 269.4 108.6 0.0 0.6 160.2 Sales and marketing 243.2 26.4 0.1 0.1 216.6
Slide 11: GAAP to non-GAAP costs and expenses reconciliation
GAAP to non-GAAP costs and expenses reconciliation (in millions) Quarter ended December 31, 2022 GAAP Share-based compensation Amortization Other expense Non-GAAP Cost of revenue $185.0 $2.8 $5.0 $0.0 $177.2 Research and development 265.2 100.2 0.0 0.0 165.1 Sales and marketing 317.3 45.9 10.1 0.0 2
Slide 12: Adjusted EBITDA reconciliation
Adjusted EBITDA reconciliation Reconciliation of net income (loss) to adjusted EBITDA (in millions) Three months ended December 31, 2022 March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 Net income (loss) $17.5 $(208.6) $(34.9) $6.7 $201.2 Depreciation and amortization 19.6 6.2 5.1 4
Slide 13: © 2024 Pinterest. All rights reserved.
© 2024 Pinterest. All rights reserved.