Pinterest (PINS) Goldman Sachs Communacopia & Technology Conference summary

Strategic priorities and user engagement

• Key initiatives from the prior Investor Day are tracking as well or better than expected, with strong progress on three-to-five-year plans.

• Achieved eight consecutive quarters of user growth and record levels of new users, with deepening engagement per user.

• Focused on making the platform shoppable and actionable, driving unique curation behaviors that feed AI for improved recommendations.

• Ads are positioned as great content, increasing ad load while also boosting user engagement.

• Lower funnel offerings are a core strength, with more than two-thirds of revenue now from lower funnel activities.

Macro environment and advertiser trends

• Macro environment is viewed as relatively stable, consistent with previous earnings commentary.

• Retail remains a strong sector, driven by improved lower funnel conversion objectives and performance.

• Gaining greater share of performance budgets from large, sophisticated advertisers, moving from experimental to core spend.

• Expanding adoption among $1B–$30B revenue retailers, with continued strength in beauty and household goods despite headwinds in food and beverage.

Monetization and lower funnel innovation

• Mobile deep links and Direct Links have driven significant increases in advertiser clicks and conversions.

• Performance+ suite, including automated bidding and dynamic creative optimization, is showing strong early results, especially for mid-sized advertisers.

• Compounding effect from new tools and measurement capabilities is deepening penetration into performance budgets.

• Still early in the adoption cycle, with ongoing yield improvements even among the largest advertisers.