Form 8-K

8-K — PINTEREST, INC.

Accession: 0001506293-26-000066

Filed: 2026-05-04

Period: 2026-04-30

CIK: 0001506293

SIC: 7370 (SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.)

Item: Results of Operations and Financial Condition

Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Item: Financial Statements and Exhibits

Documents

8-K — pins-20260430.htm (Primary)

EX-99.1 (q1-26xpressrelease.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: pins-20260430.htm · Sequence: 1

pins-20260430

0001506293false00015062932026-04-302026-04-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

________________________

FORM 8-K

________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): April 30, 2026

_________________________

Pinterest, Inc.

(Exact Name of Registrant as Specified in its Charter)

_________________________

Delaware 001-38872 26-3607129

(State or Other Jurisdiction

of Incorporation) (Commission File Number) (IRS Employer

Identification No.)

651 Brannan Street

San Francisco, California 94107

(Address of principal executive offices, including zip code)

(415) 762-7100

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

_________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Class A Common Stock, $0.00001 par value PINS New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ((§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On May 4, 2026, Pinterest, Inc. (the "Company") announced its financial results for the quarter ended March 31, 2026 by issuing a press release. In its press release, the Company also announced that it would be holding a conference call on May 4, 2026 to discuss its financial results for the quarter ended March 31, 2026 and outlook. The text of the Company’s press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The Company makes reference to non-GAAP financial information in the Company’s press release and the conference call. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the attached press release.

The information included in this Item 2.02 of this Current Report on Form 8-K and the exhibit hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 30, 2026, Andrea Acosta, the Company's Chief Accounting Officer, submitted her resignation to the Company to pursue another opportunity, effective May 8, 2026. Ms. Acosta's departure is not the result of any disagreement with the Company. The Company thanks Ms. Acosta for her many contributions and wishes her the best in her future endeavors.

Effective as of May 8, 2026, the Company's Board of Directors has appointed Julia Brau Donnelly, the Company's Chief Financial Officer, as principal accounting officer.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Number Description

99.1

Press Release issued by Pinterest, Inc., dated May 4, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PINTEREST, INC.

Date: May 4, 2026 By: /s/ Julia Brau Donnelly

Julia Brau Donnelly

Chief Financial Officer

(Principal Financial Officer)

EX-99.1

Filename: q1-26xpressrelease.htm · Sequence: 2

Document

Exhibit 99.1

Pinterest Announces First Quarter 2026 Results, Delivers 18% Revenue Growth, Record Users, and Approximately $2 Billion of Share Repurchases

Q1 Revenue of $1,008 million, an increase of 18% on a reported and 15% on a constant currency basis

All-time high of 631 million global monthly active users, an increase of 11%

Completed previously announced $2 billion of near-term share repurchases

SAN FRANCISCO, Calif. - May 4, 2026 - Pinterest, Inc. (NYSE: PINS) today announced financial results for the quarter ended March 31, 2026.

•Revenue was $1,008 million, growing 18% year over year. On a constant currency basis, revenue would have grown 15% year over year.

•Global Monthly Active Users ("MAUs") increased 11% year over year to 631 million.

•GAAP net loss was $74 million and Adjusted EBITDA was $207 million.

•Net cash provided by operating activities was $328 million and free cash flow was $312 million.

“We delivered a strong start to 2026, with Q1 revenue surpassing $1 billion, up 18% year over year, and global monthly active users growing to 631 million, our tenth consecutive quarter of double-digit user growth,” said Bill Ready, CEO of Pinterest. “Pinterest is where online discovery leads to real-world action, and we’re seeing continued momentum driven by our differentiated visual search product experiences. As we continue building an AI-powered ads platform that delivers performance for advertisers, we remain focused on ensuring monetization more fully reflects the strength of our engagement.”

Q1 2026 Financial Highlights

The following table summarizes our consolidated financial results (in thousands, except percentages, unaudited):

Three Months Ended March 31, % Change

2026 2025

Revenue $ 1,007,514 $ 854,988 18 %

Constant currency % growth(1)(2)

15 %

Net income (loss)

$ (73,587) $ 8,922 NM

Net income margin

(7) % 1 %

Non-GAAP net income(2)

$ 174,503 $ 159,562 9 %

Adjusted EBITDA(2)

$ 206,510 $ 171,649 20 %

Adjusted EBITDA margin(2)

20 % 20 %

Net cash provided by operating activities

$ 328,023 $ 363,706 (10) %

Free cash flow(2)

$ 311,682 $ 356,417 (13) %

NM = Not meaningful

(1) On a constant currency basis, revenue for the three months ended March 31, 2026 was $984.3 million due to a $23.2 million favorable impact of changes in foreign exchange rates.

(2) For more information on these non-GAAP financial measures, please see "―About non-GAAP financial measures" and the tables under "―Reconciliation of GAAP to non-GAAP financial results" included at the end of this release.

Q1 2026 Other Highlights

The following table sets forth our revenue, MAUs and average revenue per user (ARPU) based on the geographic location of our users (in millions, except ARPU and percentages, unaudited):

Three Months Ended March 31, % Change

2026 2025

Revenue - Global $ 1,008 $ 855 18 %

Revenue - U.S. and Canada $ 750 $ 663 13 %

Revenue - Europe $ 186 $ 147 27 %

Revenue - Rest of World $ 72 $ 45 59 %

MAUs - Global 631 570 11 %

MAUs - U.S. and Canada 106 102 4 %

MAUs - Europe 159 148 7 %

MAUs - Rest of World 367 320 15 %

ARPU - Global $ 1.61 $ 1.52 6 %

ARPU - U.S. and Canada $ 7.12 $ 6.54 9 %

ARPU - Europe $ 1.17 $ 1.00 17 %

ARPU - Rest of World $ 0.20 $ 0.14 38 %

Guidance

For Q2 2026, we expect revenue to be in the range of $1,133 million to $1,153 million, representing 14% - 16% growth year over year. Our guidance assumes the impact of foreign exchange to be approximately 1 point of tailwind, based on current spot rates. We expect Q2 2026 Adjusted EBITDA* to be in the range of $256 million to $276 million.

We intend to provide further details on our outlook during the conference call.

_____________

*We have not provided the forward-looking GAAP equivalent for forward-looking Adjusted EBITDA or a GAAP reconciliation as a result of the uncertainty regarding, and the potential variability of, reconciling items such as share-based compensation expense and income taxes. Accordingly, a reconciliation of these non-GAAP guidance metrics to their corresponding GAAP equivalents is not available without unreasonable effort. However, it is important to note that material changes to reconciling items could have a significant effect on future GAAP results and, as such, we also believe that any reconciliations provided would imply a degree of precision that could be confusing or misleading to investors.

Webcast and conference call information

A live audio webcast of our first quarter 2026 earnings release call will be available at investor.pinterestinc.com. The call begins today at 1:30 PM (PT) / 4:30 PM (ET). This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures and slide presentation are also available. A recording of the webcast will be available at investor.pinterestinc.com for 90 days.

We have used, and intend to continue to use, our investor relations website at investor.pinterestinc.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD.

Forward-looking statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and are often characterized by the use of words such as "believes," "estimates," "expect," "may," "will," "can," "could," "would", "might," "continue," "intends," "plans," "forecasts," "strategy," "projections," "goals," "trends," "projects," "targets," "anticipates," "potential," "looking ahead," "long-term" or and similar expressions, or by discussions of strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from historical results or any future results, performance or achievements expressed, suggested or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, statements about: general economic uncertainty in global markets and a worsening of global economic conditions or low levels of economic growth, including inflation, tariffs and related retaliatory actions and other trade protection measures, stress in the banking industry, foreign exchange fluctuations and supply-chain issues; the effect of general economic and political conditions; our financial performance, including revenue, cost and expenses and cash flows; our ability to attract, retain and recover users and maintain and grow their level of engagement; our ability to provide content that is useful and relevant to users' personal taste and interests; our ability to develop successful new products or improve existing ones; our ability to maintain and enhance our brand and reputation; potential harm caused by compromises in security, including our cybersecurity protections and resources and costs required to prevent, detect and remediate potential security breaches; potential harm caused by changes in online application stores or internet search engines' methodologies, particularly search engine optimization methodologies and policies; discontinuation, disruptions or outages in third-party single sign-on access; our ability to compete effectively in our industry; our ability to scale our business, including our monetization efforts; our ability to attract and retain advertisers and scale our revenue model; our ability to attract and retain creators and publishers that create relevant and engaging content; our ability to develop effective products and tools for advertisers, including measurement tools; our ability to expand and monetize our platform internationally; our ability to effectively manage the growth of our business; our ability to continue to use and develop artificial intelligence ("AI") as well as managing the challenges and risks posed by AI; our ability to successfully manage our flexible work model with a more distributed workforce; our ability to sustain profitability; decisions that reduce short-term revenue or profitability or do not produce the long-term benefits we expect; fluctuations in our operating results; our ability to raise additional capital on favorable terms or at all; our ability to realize anticipated benefits from mergers and acquisitions, joint ventures, strategic partnerships and other investments; our ability to protect our intellectual property; our ability to receive, process, store, use and share data, and compliance with laws and regulations related to data privacy and content; current or potential litigation and regulatory actions involving us; our ability to comply with modified or new laws and regulations applying to our business, and potential harm to our business as a result of those laws and regulations; real or perceived inaccuracies in metrics related to our business; disruption of, degradation in or interference with our use of Amazon Web Services and our infrastructure; our ability to implement our restructuring plan effectively; and our ability to attract and retain personnel. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026, which is available on our investor relations website at investor.pinterestinc.com and on the SEC website at www.sec.gov. All information provided in this release and in the earnings materials is as of May 4, 2026. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

About non-GAAP financial measures

To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States ("GAAP"), we use the following non-GAAP financial measures: Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP costs and expenses (including non-GAAP cost of revenue, research and development, sales and marketing, and general and administrative), non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net income (loss) per share, constant currency revenue and free cash flow. The presentation of these financial measures is not intended to be considered in isolation, as a substitute for or superior to the financial information prepared and presented in accordance with GAAP. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In addition, these measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparative purposes. We compensate for these limitations by providing specific information regarding GAAP amounts excluded from these non-GAAP financial measures.

We define Adjusted EBITDA as net income (loss) adjusted to exclude depreciation and amortization expense, share-based compensation expense, payroll tax expense related to share-based compensation, interest income (expense), net, other income (expense), net, provision for (benefit from) income taxes and certain other non-recurring or non-cash items impacting net income (loss) that we do not consider indicative of our ongoing business performance. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by revenue. Non-GAAP costs and expenses (including non-GAAP cost of revenue, research and development, sales and marketing, and general and administrative) and non-GAAP net income (loss) exclude amortization of acquired intangible assets, share-based compensation expense, payroll tax expense related to share-based compensation and restructuring charges. In addition to these exclusions, we also subtract an assumed provision for income taxes to calculate non-GAAP net income. We calculate the non-GAAP income tax provision using a fixed long-term projected tax rate in order to provide better consistency across reporting periods. The fixed long-term projected tax rate uses a financial projection that excludes the direct impact of our non-GAAP adjustments and eliminates the effects of items that can vary in size and frequency. For 2025 and 2026, we used a long-term projected tax rate of 20%, which reflects currently available information, as well as other factors and assumptions. The non-GAAP tax rate could be subject to change for a variety of reasons, including significant changes in the geographic earnings mix or changes in tax laws and regulations. We re-evaluate this long-term rate on an annual basis or if any significant events that may materially affect this long-term rate occur. Non-GAAP income (loss) from operations is calculated by subtracting non-GAAP costs and expenses from revenue. Non-GAAP net income (loss) per share is calculated by dividing non-GAAP net income (loss) by diluted weighted-average shares outstanding. We calculate constant currency revenue by translating our current period revenue using the corresponding prior period’s monthly exchange rates for currencies other than the U.S. dollar. We define free cash flow as net cash provided by operating activities less purchases of property and equipment. Free cash flow is not intended to represent our residual cash flow available for discretionary expenditures. We use these non-GAAP financial measures to evaluate our operating results and for financial and operational decision-making purposes. We believe these measures help identify underlying trends in our business that could otherwise be masked by the effect of the income and expenses they exclude. We also believe these measures provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater transparency with respect to key metrics we use for financial and operational decision-making. We present these non-GAAP measures to assist potential investors in seeing our operating results through the eyes of management and because we believe these measures provide an additional tool for investors to use in comparing our operating results over multiple periods with other companies in our industry. There are a number of limitations related to the use of non-GAAP financial measures rather than the nearest GAAP equivalents. For example, Adjusted EBITDA excludes: (i) certain recurring, non-cash charges such as depreciation of fixed assets and amortization of acquired intangible assets, although these assets may have to be replaced in the future, and (ii) share-based compensation expense and payroll tax expense related to share-based compensation, which have been, and will continue to be for the foreseeable future, significant recurring expenses and an important part of our compensation strategy. In addition, constant currency revenue excludes the effect of changes in foreign currency exchange rates, which have an actual effect on our operating results, and free cash flow does not reflect our future contractual commitments arising from purchases of property and equipment.

For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the tables under "―Reconciliation of GAAP to non-GAAP financial results" included at the end of this release.

Limitation of key metrics and other data

The numbers for our key metrics, which include our MAUs and ARPU, are calculated using internal company data based on the activity of user accounts. We define an MAU as an authenticated Pinterest user who visits our website, opens our mobile application or interacts with Pinterest through one of our browser or site extensions, such as the Save button, at least once during the 30-day period ending on the date of measurement. The number of MAUs does not include Shuffles users unless they would otherwise qualify as MAUs. Unless otherwise indicated, we present MAUs based on the number of MAUs measured on the last day of the current period. We measure monetization of our platform through our ARPU metric. We define ARPU as our total revenue in a given geography during a period divided by the average of the number of MAUs in that geography during the period. We calculate average MAUs based on the average of the number of MAUs measured on the last day of the current period and the last day prior to the beginning of the current period. We calculate ARPU by geography based on our estimate of the geography in which revenue-generating activities occur. We use these metrics to assess the growth and health of the overall business and believe that MAUs and ARPU best reflect our ability to attract, retain, engage and monetize our users, and thereby drive revenue. While these numbers are based on what we believe to be reasonable estimates of our user base for the applicable period of measurement, there are inherent challenges in measuring usage of our products across large online and mobile populations around the world. In addition, we are continually seeking to improve our estimates of our user base, and such estimates may change due to improvements or changes in technology or our methodology.

Contact

Press:

Tessa Chen

press@pinterest.com

Investor relations:

Andrew Somberg

ir@pinterest.com

PINTEREST, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except par value)

(unaudited)

March 31, December 31,

2026 2025

ASSETS

Current assets:

Cash and cash equivalents $ 378,077 $ 969,342

Marketable securities 920,487 1,497,811

Accounts receivable, net

830,381 997,849

Prepaid expenses and other current assets 113,776 90,735

Total current assets 2,242,721 3,555,737

Property and equipment, net 83,132 66,451

Operating lease right-of-use assets 152,336 150,399

Intangible assets, net 87,804 6,083

Goodwill 475,290 100,227

Deferred tax assets 1,581,738 1,592,153

Other assets 22,258 21,082

Total assets $ 4,645,279 $ 5,492,132

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable $ 74,976 $ 129,810

Accrued expenses and other current liabilities 455,780 335,663

Total current liabilities 530,756 465,473

Convertible notes, net(1)

980,169 —

Operating lease liabilities 224,861 220,581

Other liabilities 58,909 60,840

Total liabilities 1,794,695 746,894

Commitments and contingencies

Stockholders’ equity:

Class A common stock, $0.00001 par value, 6,666,667 shares authorized, 493,991 and 584,866 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively; Class B common stock, $0.00001 par value, 1,333,333 shares authorized, 79,680 and 79,680 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively

6 7

Additional paid-in capital 2,795,622 4,612,205

Accumulated other comprehensive income (loss) (150) 4,333

Retained earnings 55,106 128,693

Total stockholders’ equity 2,850,584 4,745,238

Total liabilities and stockholders’ equity $ 4,645,279 $ 5,492,132

(1)Includes amounts attributable to related party transactions. Refer to Note 12 of our consolidated financial statements in our Quarterly Report on Form 10-Q for the three months ended March 31, 2026 for further information.

PINTEREST, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(unaudited)

Three Months Ended

March 31,

2026 2025

Revenue $ 1,007,514 $ 854,988

Costs and expenses:

Cost of revenue 238,552 199,270

Research and development 380,789 331,665

Sales and marketing 317,851 253,920

General and administrative 103,517 105,610

Restructuring

47,097 —

Total costs and expenses 1,087,806 890,465

Loss from operations (80,292) (35,477)

Interest income (expense), net 17,786 27,293

Other income (expense), net (994) 4,519

Loss before provision for (benefit from) income taxes (63,500) (3,665)

Provision for (benefit from) income taxes 10,087 (12,587)

Net income (loss) $ (73,587) $ 8,922

Net income (loss) per share:

Basic $ (0.12) $ 0.01

Diluted $ (0.12) $ 0.01

Weighted-average shares used in computing net income (loss) per share:

Basic 636,586 676,523

Diluted 636,586 689,358

PINTEREST, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

Three Months Ended

March 31,

2026 2025

Operating activities

Net income (loss) $ (73,587) $ 8,922

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization 8,826 5,848

Share-based compensation 231,446 187,426

Deferred income taxes 5,334 (22,074)

Net amortization of investment premium and discount (3,221) (5,408)

Other (6,891) 760

Changes in assets and liabilities:

Accounts receivable 195,004 185,081

Prepaid expenses and other assets (21,975) 961

Operating lease right-of-use assets 10,601 7,222

Accounts payable (83,569) 13,036

Accrued expenses and other liabilities 76,864 (10,402)

Operating lease liabilities (10,809) (7,666)

Net cash provided by operating activities 328,023 363,706

Investing activities

Purchases of property and equipment (16,341) (7,289)

Purchases of marketable securities (228,649) (415,336)

Sales of marketable securities 403,890 2,350

Maturities of marketable securities 400,939 432,224

Acquisition of business, net of cash acquired (446,954) —

Net cash provided by investing activities 112,885 11,949

Financing activities

Proceeds from exercise of stock options, net — 8,053

Repurchases of Class A common stock (1,946,308) (175,000)

Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards (68,899) (93,754)

Proceeds from issuance of convertible notes, net of issuance costs(1)

984,985 —

Other financing activities

(1,890) —

Net cash used in financing activities (1,032,112) (260,701)

Effect of exchange rate changes on cash, cash equivalents and restricted cash (72) 902

Net increase (decrease) in cash, cash equivalents and restricted cash (591,276) 115,856

Cash, cash equivalents and restricted cash, beginning of period 975,362 1,141,221

Cash, cash equivalents and restricted cash, end of period $ 384,086 $ 1,257,077

PINTEREST, INC.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS

(in thousands)

(unaudited)

Three Months Ended

March 31,

2026 2025

Share-based compensation by function:(1)

Cost of revenue $ 4,562 $ 4,072

Research and development 140,676 119,482

Sales and marketing 38,944 30,331

General and administrative 37,939 33,541

Total share-based compensation $ 222,121 $ 187,426

Payroll tax expense related to share-based compensation by function:

Cost of revenue $ 247 $ 304

Research and development 6,921 9,592

Sales and marketing 1,719 2,214

General and administrative 1,245 1,742

Total payroll tax expense related to share-based compensation

$ 10,132 $ 13,852

Amortization of acquired intangible assets by function:(1)

Cost of revenue $ 1,687 $ 1,508

Sales and marketing 395 135

General and administrative 197 197

Total amortization of acquired intangible assets $ 2,279 $ 1,840

Reconciliation of total costs and expenses to non-GAAP costs and expenses:

Total costs and expenses $ 1,087,806 $ 890,465

Share-based compensation(1)

(222,121) (187,426)

Payroll tax expense related to share-based compensation

(10,132) (13,852)

Amortization of acquired intangible assets(1)

(2,279) (1,840)

Restructuring charges

(47,097) —

Total non-GAAP costs and expenses $ 806,177 $ 687,347

(1)Excludes share-based compensation expense of $9.3 million and amortization expense of $1.4 million included in restructuring charges for the three months ended March 31, 2026.

PINTEREST, INC.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS

(in thousands, except per share amounts)

(unaudited)

Three Months Ended

March 31,

2026 2025

Reconciliation of net income to Adjusted EBITDA:

Net income (loss) $ (73,587) $ 8,922

Depreciation and amortization (1)

7,452 5,848

Share-based compensation (1)

222,121 187,426

Payroll tax expense related to share-based compensation

10,132 13,852

Interest (income) expense, net

(17,786) (27,293)

Other (income) expense, net

994 (4,519)

Provision for (benefit from) income taxes 10,087 (12,587)

Restructuring charges (2)

47,097 —

Adjusted EBITDA

$ 206,510 $ 171,649

Reconciliation of net income to non-GAAP net income:

Net income (loss) $ (73,587) $ 8,922

Share-based compensation (1)

222,121 187,426

Payroll tax expense related to share-based compensation

10,132 13,852

Amortization of acquired intangible assets (1)

2,279 1,840

Restructuring charges (2)

47,097 —

Income tax effects and tax adjustments (3)

(33,539) (52,478)

Non-GAAP net income $ 174,503 $ 159,562

Basic weighted-average shares used in computing net income (loss) per share

636,586 676,523

Weighted-average dilutive securities(4)

7,061 12,835

Diluted weighted-average shares used in computing non-GAAP net income per share

643,647 689,358

Non-GAAP net income per share

$ 0.27 $ 0.23

Reconciliation of free cash flow:

Net cash provided by operating activities $ 328,023 $ 363,706

Less:

Purchases of property and equipment (16,341) (7,289)

Free cash flow

$ 311,682 $ 356,417

(1)Excludes share-based compensation expense of $9.3 million and amortization expense of $1.4 million included in restructuring charges for the three months ended March 31, 2026.

(2)We have excluded restructuring charges associated with our Restructuring Plan from Adjusted EBITDA because it is non-recurring and not reflective of our ongoing business operations or the underlying trends in our business.

(3)Includes the income tax effect of our non-GAAP adjustments using a long-term projected tax rate of 20% and other tax adjustments.

(4)Gives effect to potential common stock instruments such as stock options, unvested restricted stock units and unvested restricted stock awards.

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 7

v3.26.1

Cover Page

Apr. 30, 2026

Cover [Abstract]

Entity Central Index Key

0001506293

Amendment Flag

false

Document Type

8-K

Document Period End Date

Apr. 30, 2026

Entity Registrant Name

Pinterest, Inc.

Entity Incorporation, State or Country Code

Entity File Number

001-38872

Entity Tax Identification Number

26-3607129

Entity Address, Address Line One

651 Brannan Street

Entity Address, City or Town

San Francisco

Entity Address, State or Province

Entity Address, Postal Zip Code

94107

City Area Code

415

Local Phone Number

762-7100

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Class A Common Stock, $0.00001 par value

Trading Symbol

PINS

Security Exchange Name

NYSE

Entity Emerging Growth Company

false

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

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No definition available.

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- Definition

Area code of city

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No definition available.

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Name:

dei_CityAreaCode

Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

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- Definition

Cover page.

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No definition available.

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- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

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No definition available.

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Period Type:

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- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

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- Definition

Address Line 1 such as Attn, Building Name, Street Name

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No definition available.

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Name:

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xbrli:normalizedStringItemType

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- Definition

Name of the City or Town

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No definition available.

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Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

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- Definition

Code for the postal or zip code

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No definition available.

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Name:

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Data Type:

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- Definition

Name of the state or province.

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No definition available.

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Name:

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Namespace Prefix:

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Data Type:

dei:stateOrProvinceItemType

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if registrant meets the emerging growth company criteria.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

dei:fileNumberItemType

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- Definition

Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

+ Details

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Namespace Prefix:

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Data Type:

dei:edgarStateCountryItemType

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duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

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-Subsection b-2

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- Definition

Local phone number for entity.

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No definition available.

+ Details

Name:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Namespace Prefix:

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Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Name:

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Namespace Prefix:

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Balance Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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- Definition

Name of the Exchange on which a security is registered.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Data Type:

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Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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Namespace Prefix:

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Data Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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