$PINS
PINTEREST, INC.
CIK:0001506293|SEC Filings
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Income Statement [Abstract] | ||||
| Revenue | $ 1,179,654 | $ 998,227 | $ 2,187,168 | $ 1,853,215 |
| Costs and expenses: | ||||
| Cost of revenue | 257,354 | 203,009 | 495,906 | 402,279 |
| Research and development | 451,010 | 359,624 | 831,799 | 691,289 |
| Sales and marketing | 374,273 | 313,075 | 692,124 | 566,995 |
| General and administrative | 137,880 | 126,849 | 241,397 | 232,459 |
| Restructuring | 14,335 | 0 | 61,432 | 0 |
| Total costs and expenses | 1,234,852 | 1,002,557 | 2,322,658 | 1,893,022 |
| Loss from operations | (55,198) | (4,330) | (135,490) | (39,807) |
| Interest income (expense), net | 7,334 | 28,022 | 25,120 | 55,315 |
| Other income (expense), net | (1,295) | 10,960 | (2,289) | 15,479 |
| Income (loss) before provision for (benefit from) income taxes | (49,159) | 34,652 | (112,659) | 30,987 |
| Provision for (benefit from) income taxes | (2,490) | (4,103) | 7,597 | (16,690) |
| Net income (loss) | $ (46,669) | $ 38,755 | $ (120,256) | $ 47,677 |
| Net income (loss) per share: | ||||
| Basic (in dollars per share) | $ (0.08) | $ 0.06 | $ (0.20) | $ 0.07 |
| Diluted (in dollars per share) | $ (0.08) | $ 0.06 | $ (0.20) | $ 0.07 |
| Weighted-average shares used in computing net income (loss) per share: | ||||
| Basic (in shares) | 562,913 | 676,852 | 599,629 | 676,688 |
| Diluted (in shares) | 562,913 | 689,837 | 599,629 | 689,598 |
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands |
Jun. 30, 2026 |
Dec. 31, 2025 |
||
|---|---|---|---|---|
| Current assets: | ||||
| Cash and cash equivalents | $ 422,484 | $ 969,342 | ||
| Marketable securities | 852,417 | 1,497,811 | ||
| Accounts receivable, net | 932,000 | 997,849 | ||
| Prepaid expenses and other current assets | 116,446 | 90,735 | ||
| Total current assets | 2,323,347 | 3,555,737 | ||
| Property and equipment, net | 97,447 | 66,451 | ||
| Operating lease right-of-use assets | 143,050 | 150,399 | ||
| Intangible assets, net | 83,037 | 6,083 | ||
| Goodwill | 475,290 | 100,227 | ||
| Deferred tax assets | 1,616,367 | 1,592,153 | ||
| Other assets | 20,840 | 21,082 | ||
| Total assets | 4,759,378 | 5,492,132 | ||
| Current liabilities: | ||||
| Accounts payable | 145,148 | 129,810 | ||
| Accrued expenses and other current liabilities | 464,663 | 335,663 | ||
| Total current liabilities | 609,811 | 465,473 | ||
| Convertible notes, net | [1] | 981,128 | 0 | |
| Operating lease liabilities | 215,507 | 220,581 | ||
| Other liabilities | 59,034 | 60,840 | ||
| Total liabilities | 1,865,480 | 746,894 | ||
| Commitments and contingencies | ||||
| Stockholders’ equity: | ||||
| Class A common stock, $0.00001 par value, 6,666,667 shares authorized, 490,712 and 584,866 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; Class B common stock, $0.00001 par value, 1,333,333 shares authorized, 74,785 and 79,680 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 6 | 7 | ||
| Additional paid-in capital | 2,886,635 | 4,612,205 | ||
| Accumulated other comprehensive income (loss) | (1,180) | 4,333 | ||
| Retained earnings | 8,437 | 128,693 | ||
| Total stockholders’ equity | 2,893,898 | 4,745,238 | ||
| Total liabilities and stockholders’ equity | $ 4,759,378 | $ 5,492,132 | ||
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