PINS · Pinterest, Inc.

Pinterest delivered a robust Q1 2026 with revenue reaching $1,008 million, surpassing $1 billion for the first time and growing 18% year-over-year on a reported basis and 15% on constant currency, driven by strong engagement with global MAUs hitting an all-time high of 631 million, up 11% YoY and marking the tenth straight quarter of double-digit user growth. Regional performance varied, with Rest of World revenue surging 59% and Europe up 27%, reflecting successful international expansion, while U.S. and Canada grew 13%. Despite a GAAP net loss of $74 million, Adjusted EBITDA expanded 20% to $207 million at a stable 20% margin, underscoring operational efficiency amid investments in AI-powered ads and visual search enhancements. CEO Bill Ready highlighted momentum in visual search driving real-world actions and building advertiser performance tools to better monetize engagement. Cash generation remained solid with $328 million in operating cash flow and $312 million free cash flow, supporting the completion of a $2 billion near-term share repurchase program. Q2 guidance projects revenue growth of 14-16% to $1,133-$1,153 million and Adjusted EBITDA of $256-$276 million, assuming minor FX tailwind. Concurrently, Chief Accounting Officer Andrea Acosta resigned effective May 8, 2026, to pursue another opportunity without disagreements, with CFO Julia Brau Donnelly stepping in as principal accounting officer, signaling continuity in financial leadership.