Pinterest, Inc. Earnings Recaps
Q2 2026
Aug 6, 2026
Pinterest's stock dropped 3.3% after Q2 earnings, driven by investor disappointment over a cautious outlook and signs of revenue growth deceleration despite ongoing user expansion and AI investments.
Key takeaways
- Monthly active users increased to 640 million, with 4% growth in the core UCAN market and continued strong traction among Gen Z, now more than half the user base.
- Revenue grew 18% globally but showed signs of slowing momentum compared to earlier accelerated growth rates.
- AI integration continues to expand, powering personalization and a new conversational shopping assistant aimed at converting inspiration into purchases.
- Management highlighted cost efficiencies from leveraging open source AI models, reducing transaction costs to less than 8% of comparable proprietary models.
- Despite progress, cautious language around monetization pacing and future guidance weighed on sentiment, reflecting investor concerns about sustaining revenue growth and margin improvement.
Q1 2026
May 5, 2026
Pinterest shares rose 10.2% following first quarter results that demonstrated clear progress in user growth and AI-driven engagement, surprising investors with stronger-than-expected operational improvements and margin expansion.
Key takeaways
- Revenue surpassed $1 billion, growing 18% year over year, signaling sustained top-line momentum.
- Adjusted EBITDA increased to more than $207 million, reflecting improved profitability and operational leverage.
- Monthly active users reached 631 million, all logged in, continuing a streak of double-digit user growth for ten consecutive quarters.
- AI innovations, including the PinRack model and Canvas image generation, drove meaningful gains in search fulfillment, advertiser cost efficiencies (CPA and CPC down ~180 basis points), and user engagement metrics.
- Management remains focused on accelerating monetization and expanding AI-powered shopping features, with ongoing efforts to better capture the value of rising user engagement.
Q3 2025
Nov 5, 2025
Pinterest achieved robust growth in Q3 2025, with a 17% year-over-year revenue increase to $1.049 billion and continued expansion in user engagement, particularly among Gen Z.
Key takeaways
- Monthly active users reached 600 million, marking nine consecutive quarters of record growth, powered primarily by Gen Z, which makes up over 50% of the user base.
- Revenue growth driven by a significant increase in visual search engagement, with queries up 44% year-over-year.
- Outbound clicks to advertisers surged by 40% year-over-year, highlighting Pinterest’s strengthened performance ad platform.
- Clear international monetization opportunities exist, as markets remain significantly undermonetized, indicating future growth potential.
- Pinterest's AI-driven platform enhances user experience and ad performance, positioning it as a crucial partner for advertisers in a competitive landscape.