# Pinterest (PINS) Q2 2026 earnings

Results filed 2026-08-04 for the quarter ended 2026-06-30. Source page: https://earnings.opennash.com/companies/pins/2026-q2/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/1506293/000150629326000102/0001506293-26-000102-index.htm
> Summaries and transcripts are machine-generated and can contain errors.

## In brief

Pinterest reported Q2 2026 revenue of $1,180 million, up 18%, with 640 million global monthly active users and a GAAP net loss of $47 million.

Pinterest grew revenue 18% to $1,180 million (17% in constant currency) and reached a record 640 million monthly active users, up 11%. Adjusted EBITDA was $311 million, up 24%. The company still posted a GAAP net loss of $47 million, against net income a year ago, as share-based compensation and restructuring costs weighed. It also completed over $2 billion of share repurchases year-to-date.
For Q3 2026, management expects revenue of $1,190 million to $1,210 million, or 13% to 15% growth, and Adjusted EBITDA of $335 million to $355 million. It raised its full-year Adjusted EBITDA margin outlook to approximately 30%. The main tension is slowing revenue growth from 18% to a guided 13% to 15%, alongside rising share-based compensation, a GAAP loss, and a smaller cash balance after the buybacks.

## Key numbers

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Revenue | $1,180 million | up 18% from a year ago (17% constant currency) | GAAP |
| Net loss | $47 million |  | GAAP |
| Diluted EPS | $(0.08) |  | GAAP |
| Non-GAAP net income per share | $0.43 | up from $0.33 a year ago | non-GAAP |
| Loss from operations | (55,198) | vs. loss of (4,330) a year ago | GAAP |
| Net cash provided by operating activities | $293 million | up 41% from a year ago | GAAP |
| Free cash flow | $270 million | up 37% from a year ago | non-GAAP |
| Adjusted EBITDA | $311 million | up 24% from a year ago | non-GAAP |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| Global monthly active users | 640 million | up 11% from a year ago |
| Revenue - U.S. and Canada | $880 | up 18% |
| Revenue - Europe | $213 | up 12% |
| Revenue - Rest of World | $87 | up 38% |
| Global ARPU | $1.86 | up 7% |
| U.S. and Canada ARPU | $8.30 | up 14% |

## Outlook

| Metric | Period | Outlook |
| --- | --- | --- |
| Revenue | Q3 2026 | $1,190 million to $1,210 million |
| Adjusted EBITDA | Q3 2026 | $335 million to $355 million |
| Adjusted EBITDA margin | full-year 2026 | approximately 30% |

## Key takeaways

1. **Revenue growth of 18% led by U.S. and Canada** Revenue was $1,180 million, up 18%, and U.S. and Canada revenue was $880 million, also up 18%. Rest of World grew fastest at 38%.
2. **Record 640 million users, growth in every region** Global MAUs rose 11% to 640 million, with Rest of World up 15%, Europe up 8% and U.S. and Canada up 4%. Global ARPU rose 7% to $1.86.
3. **GAAP net loss despite higher Adjusted EBITDA** GAAP net loss was $47 million, while Adjusted EBITDA rose 24% to $311 million. Share-based compensation was $319,729 thousand versus $227,234 thousand a year ago.
4. **Over $2 billion in buybacks funded by convertible notes** Pinterest repurchased over $2 billion of shares year-to-date at an average price of $18.17. Convertible notes of $981,128 thousand now appear on the balance sheet, and cash and marketable securities fell.
5. **Q3 guidance implies slower growth, higher margin** Q3 revenue guidance of $1,190 million to $1,210 million represents 13% - 15% growth, below Q2's 18%. Management raised the full-year Adjusted EBITDA margin outlook to approximately 30% from 29%.

## Questions

**What were Pinterest's Q2 2026 headline results?** Revenue was $1,180 million, up 18% (17% in constant currency), with 640 million global monthly active users, up 11%. GAAP net loss was $47 million and Adjusted EBITDA was $311 million.
**Is Pinterest profitable?** On a GAAP basis it reported a net loss of $47 million in Q2 2026, versus net income of $38,755 thousand a year ago. Non-GAAP net income was $249,518 thousand, or $0.43 per share.
**What is Pinterest's Q3 2026 guidance?** Pinterest expects Q3 revenue of $1,190 million to $1,210 million, or 13% - 15% growth, and Adjusted EBITDA of $335 million to $355 million. It also raised its full-year Adjusted EBITDA margin outlook to approximately 30% from 29%.
**How much cash did Pinterest generate and return to shareholders?** Operating cash flow was $293 million and free cash flow was $270 million. The company completed over $2 billion of share repurchases year-to-date at an average price of $18.17.
**Where is growth strongest by region?** Rest of World revenue grew 38% to $87 million and MAUs grew 15%. U.S. and Canada, the largest region, grew revenue 18% to $880 million with ARPU up 14% to $8.30.

## Slides and investor documents

- [Earnings Presentation](https://s204.q4cdn.com/369458543/files/doc_earnings/2026/q2/presentation/Q2-2026-Pinterest-Earnings-Presentation.pdf) (Slide deck)
- [Transcript](https://s204.q4cdn.com/369458543/files/doc_earnings/2026/q2/transcript/Q2-2026-Transcript.pdf) (Company's official transcript)
- [Webcast](https://events.q4inc.com/attendee/105317249) (Webcast replay)
- [10-Q](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001506293/3a2868b5-467b-4bf9-b76e-91d7e7e26598.pdf) (Document)