Slide 1: Q3 2024 Earnings Report
Q3 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% 21% 18% +18% Global Y/Y $981 $41 $898 +16% $854 $42 $763 $38 $162 $740 $31 $137 $30 US & Canada Y/Y $143 $114 $118 $618 $779 $592 $673 $719 +20% Europe Y/Y +38% Q323 Q423 Q124 Q224 Q324 US & Canada Europe Rest of World Y/Y growth rate Rest of World Y/Y Note: Revenue
Slide 4: Monthly active users
Monthly active users (in millions) 8% 11% 12% 12% 11% +11% Global Y/Y 498 518 522 537 482 279 300 +3% US & Canada Y/Y 288 266 258 128 135 140 136 139 +8%Europe Y/Y 96 97 98 98 99 +16% Q323 Q423 Q124 Q224 Q324 US & Canada Europe Rest of World Y/Y growth rate Rest of World Y/Y Note: We define an MAU a
Slide 5: Average revenue per user
Average revenue per user Global US & Canada $8.07 +5%Global Y/Y $7.31 $6.85 $6.46 $6.05 $1.61 $2.00 $1.46 $1.64 $1.70 +13% US & Canada Y/Y Q323 Q423 Q124 Q224 Q324 Q323 Q423 Q124 Q224 Q324 Europe Rest of World +10% Europe Y/Y $0.91 $1.23 $0.86 $1.03 $1.00 $0.12 $0.15 $0.11 $0.13 $0.14 Q323 Q423 Q124
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 22% 18% 24% 21% 20% 20% 24% 22% 21% 16% $167 $174 $177 $180 $182 $152 $161 $178 $184 $188 +24% R&D Y/Y Q323 Q423 Q124 Q224 Q324 Q323 Q423 Q124 Q224 Q324 S&M 26% 22% 27% 27% % of revenue 24% G&A 10% %
Slide 7: Adjusted EBITDA
Adjusted EBITDA (in millions) 37% 24% 27% 21% 15% +31% $365 Adj. EBITDA Y/Y $242 +280 $185 $180 $113 bps of Margin Expansion Y/Y Q323 Q423 Q124 Q224 Q324 Adjusted EBITDA Adjusted EBITDA Margin % Note: We define Adjusted EBITDA as net income (loss) adjusted to exclude depreciation and amortization ex
Slide 8: Appendix
Appendix © 2024 Pinterest. All rights reserved.
Slide 9: GAAP to non-GAAP costs and expenses reconciliation
GAAP to non-GAAP costs and expenses reconciliation (in millions) Quarter ended September 30, 2024 GAAP Share-based compensation Amortization Other expense1 Non-GAAP Cost of revenue $187.5 $3.9 $1.5 $0.0 $182.0 Research and development 326.7 138.6 0.0 0.0 188.1 Sales and marketing 249.0 32.4 0.1 0.0
Slide 10: 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 11: 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 12: Adjusted EBITDA reconciliation: Reconciliation of net income (loss) to adjusted EBITDA
Adjusted EBITDA reconciliation: Reconciliation of net income (loss) to adjusted EBITDA (in millions) Three months ended September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 Net income (loss) $6.7 $201.2 $(24.8) $8.9 $30.6 Depreciation and amortization 4.9 5.3 4.9 4.9
Slide 13: © 2024 Pinterest. All rights reserved.
© 2024 Pinterest. All rights reserved.