Pinterest, Inc. · NYSE:PINS

Pinterest — Q2 2023 Earnings Presentation

17 slides from Pinterest's earnings presentation, Aug 1, 2023

  1. Slide 1: Q2 2023 Earnings Report

    Q2 2023 Earnings Report © 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: Jamie Inspired on Pinterest creator story

    “ I am very proud of the strong community that I have built on Pinterest and a lot of that is due to how simple and easy it is to use, create and engage on the platform” Jamie, a teacher-turned-recipe-developer, combined her passion and expertise in education and cooking to create and post delicious

  4. Slide 4: TUI Germany Travel Catalogs results

    “ People come to Pinterest to dream up and plan their next holiday. With Travel Catalogs, we were able to make our ads more actionable and saw a strong increase in users clicking through to view available hotel listings,” Miriam Abels Digital Performance Marketing, TUI Germany TUI, one of the world'

  5. Slide 5: Q223 Business Highlights: inspired engagement

    We’re growing our inspired engagement Q223 Business • We grew our global user base year over year to 465M MAUs. Highlights • Engagement metrics like sessions, impressions, and saves grew faster than MAUs, indicating we’re deepening our engagement with our user base. • Global Mobile app MAUs grew 16%

  6. Slide 6: Q223 Business Highlights: inspired shopping experience

    We’re building an inspired shopping experience Q223 Business • Users are actively engaging with shoppable content, with click-through rates and saves of Highlights shoppable pins growing over 50% year over year, accelerating from Q1. • We launched a new, automated “shop the look” module for home dec

  7. Slide 7: Revenue

    Revenue (in millions) 9% 8% 4% 5% 6% +6%Global Y/Y $877 $32 $666 $22 $685 $24 $123 $708 $29 +4% US & Canada Y/Y $603 $86 $24 $114 $102 $93 $542 $575 $722 $486 $565 +12% Europe Y/Y +32% Q222 Q322 Q422 Q123 Q223 US & Canada Europe Rest of World Y/Y growth rate Rest of World Y/Y Note: Revenue is geogra

  8. Slide 8: Monthly active users

    Monthly active users (in millions) 4% 7% 8% +8%Global Y/Y 0% (5%) +3% 463 465 445 450 433 US & Canada Y/Y 231 240 246 223 230 117 120 124 128 124 +6%Europe Y/Y 92 95 95 95 95 +10% Q222 Q322 Q422 Q123 Q223 US & Canada Europe Rest of World Y/Y growth rate Rest of World Y/Y Note: We define a monthly ac

  9. Slide 9: Average revenue per user

    Average revenue per user Global US & Canada $7.60 (1%) Global Y/Y $5.82 $6.13 $5.92 $5.11 $1.54 $1.56 $1.96 $1.32 $1.53 +2% US & Canada Y/Y Q222 Q322 Q422 Q123 Q223 Q222 Q322 Q422 Q123 Q223 Europe Rest of World +6%Europe Y/Y $0.86 $0.72 $1.01 $0.74 $0.91 $0.10 $0.11 $0.14 $0.10 $0.12 Q222 Q322 Q422

  10. Slide 10: Non-GAAP costs and expenses

    Non-GAAP costs and expenses (in millions) Cost of Revenue % of revenue R&D % of revenue +1% COR Y/Y 24% 26% 28% 23% 23% 24% 28% 23% 20% 19% $163 $178 $177 $167 $164 $152 $165 $165 $168 $160 +5% R&D Y/Y Q222 Q322 Q422 Q123 Q223 Q222 Q322 Q422 Q123 Q223 S&M % of revenue 31% G&A 11% 10% 11% % of revenu

  11. Slide 11: Adjusted EBITDA

    Adjusted EBITDA (in millions) 22% 14% 11% 15% 4% $196 +16% Adj. EBITDA Y/Y $107 $92 $77 $27 Q222 Q322 Q422 Q123 Q223 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 amo

  12. Slide 12: Appendix

    Appendix © 2023 Pinterest. All rights reserved. 12

  13. Slide 13: 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

  14. Slide 14: 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

  15. Slide 15: GAAP to non-GAAP costs and expenses reconciliation

    GAAP to non-GAAP costs and expenses reconciliation (in millions) Quarter ended June 30, 2022 GAAP Share-based compensation Amortization Other expense Non-GAAP Cost of revenue $164.9 $1.4 $0.9 $0.0 $162.5 Research and development 233.5 81.4 0.0 0.0 152.1 Sales and marketing 212.0 18.5 1.9 0.0 191.6 G

  16. Slide 16: Adjusted EBITDA reconciliation

    Adjusted EBITDA reconciliation Reconciliation of net income (loss) to adjusted EBITDA (in millions) Three months ended June 30, 2022 September 30, 2022 December 31, 2022 March 31, 2023 June 30, 2023 Net income (loss) $(43.1) $(65.2) $17.5 $(208.6) $(34.9) Depreciation and amortization 9.1 10.5 19.6

  17. Slide 17: © 2023 Pinterest. All rights reserved.

    © 2023 Pinterest. All rights reserved.

Pinterest — Q2 2023 Earnings Presentation on 6ix