Pinterest, Inc. · NYSE:PINS

Pinterest — Q2 2024 Earnings Presentation

13 slides from Pinterest's earnings presentation, Jul 30, 2024

1. Slide 1: Q2 2024 Earnings Report

   Q2 2024 Earnings Report © 2024 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 The numbers for our key metrics, which include our monthly active users (MAUs) prepared and presented in accordance with generally accepted accounting and ave

3. Slide 3: Revenue

   Revenue (in millions) 11% 12% 23% 21% +21% Global Y/Y 6% $981 $41 $708 $763 $31 $162 $740 $30 $854 $38 +19% US & Canada Y/Y $29 $143 $114 $118 $114 $565 $618 $779 $592 $673 +25% Europe Y/Y +32% Q223 Q323 Q423 Q124 Q224 US & Canada Europe Rest of World Y/Y growth rate Rest of World Y/Y Note: Revenue

4. Slide 4: Monthly active users

   Monthly active users (in millions) 8% 8% 11% 12% 12% +12% Global Y/Y 518 522 498 482 +3% 465 279 288 US & Canada Y/Y 266 246 258 124 128 135 140 136 +9%Europe Y/Y 95 96 97 98 98 +17% Q223 Q323 Q423 Q124 Q224 US & Canada Europe Rest of World Y/Y growth rate Rest of World Y/Y Note: We define a monthly

5. Slide 5: Average revenue per user

   Average revenue per user Global US & Canada $8.07 +8%Global Y/Y $6.46 $6.85 $5.92 $6.05 $1.53 $1.61 $2.00 $1.46 $1.64 +16% US & Canada Y/Y Q223 Q323 Q423 Q124 Q224 Q223 Q323 Q423 Q124 Q224 Europe Rest of World +14% Europe Y/Y $1.23 $0.91 $0.91 $0.86 $1.03 $0.12 $0.12 $0.15 $0.11 $0.13 Q223 Q323 Q423

6. Slide 6: Non-GAAP costs and expenses

   Non-GAAP costs and expenses (in millions) Cost of Revenue % of revenue R&D % of revenue 9% COR Y/Y 23% 22% 18% 24% 21% 23% 20% 24% 22% 16% $164 $167 $174 $177 $180 $160 $152 $161 $178 $184 15% R&D Y/Y Q223 Q323 Q423 Q124 Q224 Q223 Q323 Q423 Q124 Q224 S&M 31% 26% 22% 27% % of revenue 27% G&A 10% % of

7. Slide 7: Adjusted EBITDA

   Adjusted EBITDA (in millions) 37% 24% 21% 15% 15% +68% $365 Adj. EBITDA Y/Y +600 $185 $180 $113 bps of Margin Expansion Y/Y $107 Q223 Q323 Q423 Q124 Q224 Adjusted EBITDA Adjusted EBITDA Margin % Note: Adjusted EBITDA is a non-GAAP financial measure. We define adjusted EBITDA as net income (loss) adj

8. Slide 8: Appendix

   Appendix © 2024 Pinterest. All rights reserved.

9. Slide 9: GAAP to non-GAAP costs and expenses reconciliation

   GAAP to non-GAAP costs and expenses reconciliation (in millions) Quarter ended June 30, 2024 GAAP Share-based compensation Amortization Other expense Non-GAAP Cost of revenue $184.9 $3.8 $1.5 $0.0 $179.6 Research and development 312.8 128.5 0.0 0.0 184.4 Sales and marketing 265.4 30.9 0.1 0.0 234.3

10. Slide 10: 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 $178.1 $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

11. Slide 11: 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

12. Slide 12: Adjusted EBITDA reconciliation

    Adjusted EBITDA reconciliation: Reconciliation of net income (loss) to adjusted EBITDA (in millions) Three months ended June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 Net income (loss) $(34.9) $6.7 $201.2 $(24.8) $8.9 Depreciation and amortization 5.1 4.9 5.3 4.9 4.9

13. Slide 13: © 2024 Pinterest. All rights reserved.

    © 2024 Pinterest. All rights reserved.

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