Pinterest Inc

Latest Results (28.12.2025):

Pinterest Inc — third quarter of 2025 results: the company reported revenue of $1,049 million (up 17% year‑over‑year; 16% constant currency) and an all‑time high 600 million global monthly active users (MAUs, +12% y/y). GAAP net income was $92 million while Adjusted EBITDA was $306 million (29% margin). Strong cash generation produced $322 million of operating cash flow and $318 million of free cash flow. Management highlighted AI and product investments driving monetization and provided Q4 2025 revenue and Adjusted EBITDA guidance.

Top-line and user growth

Revenue: $1,049M, +17% y/y (16% cc). MAUs: 600M, +12% y/y (U.S. & Canada 103M +4%; Europe 150M +8%; Rest of World 347M +16%).

Profitability

GAAP net income: $92M (net income margin 9% vs 3% in Q3 2024). Adjusted EBITDA: $306M (+24% y/y) and Adjusted EBITDA margin 29% (vs 27% prior year). Non‑GAAP net income: $263M; non‑GAAP EPS $0.38 (GAAP diluted EPS $0.13).

Monetization / ARPU

Global ARPU $1.78, +5% y/y. By region: U.S. & Canada ARPU $7.64 (+5%), Europe $1.31 (+31%), Rest of World $0.21 (+44%).

Regional revenue strength

U.S. & Canada revenue $786M (+9%); Europe $193M (+41%); Rest of World $70M (+66%) — Europe and RoW drove outsized growth percentages off smaller bases.

Cash flow and balance sheet

Net cash provided by operating activities $321.7M; free cash flow $318.4M. Cash & cash equivalents $1.13B and marketable securities ~$1.54B; total assets $5.52B and stockholders’ equity ~$4.82B.

Capital return and financing activity

Q3 share activity included $197M of Class A repurchases and ~$115M of shares withheld for taxes; net cash used in financing activities was $312M for the quarter.

Costs and notable adjustments

Share‑based compensation was $235M for the quarter (material to GAAP vs non‑GAAP results). Management excludes payroll tax on share‑based comp and other items in non‑GAAP measures.

Guidance

Q4 2025 revenue guidance: $1,313M–$1,338M (growth 14%–16% y/y, ~1 point FX tailwind). Q4 Adjusted EBITDA guidance: $533M–$558M. Company noted it is not providing a GAAP reconciliation for forward Adjusted EBITDA due to variability in reconciling items.

Strategy note

Management emphasized investments in AI and product innovation—positioning Pinterest as a visual search / AI‑powered shopping assistant—which it says is helping advertiser demand and monetization across the platform.