Slide 1: Q1 2024 Earnings Report
Q1 2024 Earnings Report © 2024 Pinterest. All rights reserved.
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
Slide 3: Revenue
Revenue (in millions) 11% 12% 23% +23% Global Y/Y 5% 6% $981 $41 $708 $763 $31 $162 $740 $30 +22% US & Canada Y/Y $29 $603 $114 $24 $118 $114 $93 $565 $618 $779 $592 +27% Europe Y/Y $486 +25% Q123 Q223 Q323 Q423 Q124 US & Canada Europe Rest of World Y/Y growth rate Rest of World Y/Y Note: Revenue is
Slide 4: Monthly active users
Monthly active users (in millions) 8% 8% 11% 12% +12% Global Y/Y 7% 518 498 482 +3% 463 465 279 US & Canada Y/Y 266 240 246 258 128 124 128 135 140 +10% Europe Y/Y 95 95 96 97 98 +16% Q123 Q223 Q323 Q423 Q124 US & Canada Europe Rest of World Y/Y growth rate Rest of World Y/Y Note: We define a monthl
Slide 5: Average revenue per user
Average revenue per user Global US & Canada $8.07 +10% Global Y/Y $6.46 $5.92 $6.05 $5.11 $1.32 $1.53 $1.61 $2.00 $1.46 +19% US & Canada Y/Y Q123 Q223 Q323 Q423 Q124 Q123 Q223 Q323 Q423 Q124 Europe Rest of World +17% Europe Y/Y $0.91 $0.91 $1.23 $0.74 $0.86 $0.10 $0.12 $0.12 $0.15 $0.11 Q123 Q223 Q3
Slide 6: Non-GAAP costs and expenses
Non-GAAP costs and expenses (in millions) Cost of Revenue % of revenue R&D % of revenue 6% COR Y/Y 28% 23% 22% 24% 28% 23% 24% 18% 20% 16% $167 $164 $167 $174 $177 $168 $160 $152 $161 $178 6% R&D Y/Y Q123 Q223 Q323 Q423 Q124 Q123 Q223 Q323 Q423 Q124 S&M 30% 31% 26% 22% % of revenue 27% G&A 11% % of
Slide 7: Adjusted EBITDA
Adjusted EBITDA (in millions) 37% 24% 15% 15% 4% $365 +319% Adj. EBITDA Y/Y $185 $107 $113 +1,080 bps of Margin Expansion Y/Y $27 Q123 Q223 Q323 Q423 Q124 Adjusted EBITDA Adjusted EBITDA Margin % Note: Adjusted EBITDA is a non-GAAP financial measure. We define adjusted EBITDA as net income (loss) ad
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 March 31, 2024 GAAP Share-based compensation Amortization Other expense Non-GAAP Cost of revenue $181.1 $2.9 $1.5 $0.0 $176.6 Research and development 280.3 102.4 0.0 0.0 177.9 Sales and marketing 226.3 25.0 0.1 0.0 201.2
Slide 10: 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
Slide 11: 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
Slide 12: Adjusted EBITDA reconciliation: net income (loss) to adjusted EBITDA
Adjusted EBITDA reconciliation: Reconciliation of net income (loss) to adjusted EBITDA (in millions) Three months ended March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 Net income (loss) $(208.6) $(34.9) $6.7 $201.2 $(24.8) Depreciation and amortization 6.2 5.1 4.9 5.
Slide 13: © 2024 Pinterest. All rights reserved.
© 2024 Pinterest. All rights reserved.