Pinterest (PINS) investor relations material

Executive summary

• Q2 2026 revenue reached $1.18 billion, up 18% year-over-year, with 640 million global monthly active users, an 11% increase; Gen Z is now over half the user base and the fastest-growing cohort.

• Adjusted EBITDA was $311 million with a 26% margin, up 130 basis points year-over-year; net loss was $46.7 million due to higher expenses and restructuring.

• AI-driven personalization, performance ads, and creative tools are central to user engagement and monetization strategies.

• Over $2 billion in share repurchases completed year-to-date, reducing outstanding shares.

• Major acquisition of tvScientific to expand AI-powered performance advertising to connected TV.

Financial highlights

• Global revenue: $1.18 billion, up 18% year-over-year; US & Canada revenue: $880 million (up 18%), Europe: $223 million (up 12%), Rest of World: $113 million (up 38%).

• Global ARPU increased 7% to $1.86; US & Canada ARPU up 14% to $8.30, Europe up 4% to $1.35, Rest of World up 21% to $0.23.

• Adjusted EBITDA margin was 26% in Q2 2026, up from 25% in Q2 2025.

• Free cash flow for Q2 was $270 million; trailing 12-month free cash flow reached $1.3 billion (94% conversion).

• Cost of revenue rose 25–27% year-over-year, reflecting GPU investments and increased engagement.

Outlook and guidance

• Q3 2026 revenue guidance: $1.19–$1.21 billion, representing 13–15% year-over-year growth, with a modest FX headwind.

• Q3 2026 Adjusted EBITDA expected at $335–$355 million.

• Full-year 2026 Adjusted EBITDA margin outlook raised to ~30% from prior 29%.

• Management expects up to $69.6 million in total restructuring charges through Q3 2026.

• Anticipated headwinds from FX, Prime Day timing, and non-recurring World Cup spend in Q3.