Pinterest Files Q2 2024 10-Q

TL;DR

Pinterest's Q2 2024 10-Q is in: check financials for latest performance.

AI Summary

Pinterest, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter of 2024, detailing financial performance and operational updates. Key financial data and disclosures relevant to investors are presented in this report.

Why It Matters

This 10-Q filing provides investors with the latest financial results and operational details for Pinterest, Inc. during the second quarter of 2024, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant risks or opportunities.

Key Numbers

• Q2 2024 — Reporting Period (Financials for the second quarter of 2024 are detailed.)
• 2024-06-30 — End of Fiscal Period (The report covers financial data up to this date.)
• 2024-07-30 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• PINTEREST, INC. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240730 (date) — Filing date
• 651 BRANNAN STREET (address) — Company's business and mailing address
• SAN FRANCISCO (location) — Company's city

FAQ

Key Financial Figures

• $0.00001 — which registered Class A Common Stock, $0.00001 par value PINS New York Stock Exchange

Filing Documents

• pins-20240630.htm (10-Q) — 1394KB
• pins-ex311x20240630.htm (EX-31.1) — 9KB
• pins-ex312x20240630.htm (EX-31.2) — 9KB
• pins-ex321x20240630.htm (EX-32.1) — 8KB
• pins-20240630_g1.jpg (GRAPHIC) — 15KB
• pins-20240630_g2.jpg (GRAPHIC) — 73KB
• pins-20240630_g3.jpg (GRAPHIC) — 160KB
• pins-20240630_g4.jpg (GRAPHIC) — 77KB
• pins-20240630_g5.jpg (GRAPHIC) — 139KB
• pins-20240630_g6.jpg (GRAPHIC) — 71KB
• pins-20240630_g7.jpg (GRAPHIC) — 129KB
• 0001506293-24-000143.txt ( ) — 6825KB
• pins-20240630.xsd (EX-101.SCH) — 22KB
• pins-20240630_cal.xml (EX-101.CAL) — 47KB
• pins-20240630_def.xml (EX-101.DEF) — 121KB
• pins-20240630_lab.xml (EX-101.LAB) — 434KB
• pins-20240630_pre.xml (EX-101.PRE) — 279KB
• pins-20240630_htm.xml (XML) — 733KB

- Financial Information

Part I - Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 8 Condensed Consolidated Balance Sheets 8 Condensed Consolidated Statements of Operations 9 Condensed Consolidated Statements of Comprehensive Income (Loss) 10 Condensed Consolidated Statements of Stockholders' Equity 11 Condensed Consolidated Statements of Cash Flows 13 Notes to Condensed Consolidated Financial Statements 14

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosure About Market Risk

Item 3. Quantitative and Qualitative Disclosure About Market Risk 35

Controls and Procedures

Item 4. Controls and Procedures 36

- Other Information

Part II - Other Information

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 38

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 67

Other Information

Item 5. Other Information 68

Exhibits

Item 6. Exhibits 69

Signatures

Signatures 70 2 NOTE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements involve substantial risk and uncertainties. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and are often characterized by the use of words such as "believes," "estimates," "expects," "projects," "may," "will," "can," "intends," "plans," "targets," "forecasts," "anticipates," or similar expressions, or by discussions of strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from historical results or any future results, performance or achievements expressed, suggested or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, statements about: general economic uncertainty in global markets and a worsening of global economic conditions or low levels of economic growth, including inflation, stress in the banking industry, foreign exchange fluctuations and supply-chain issues; the effect of general economic and political conditions; our financial performance, including revenue, cost and expenses and cash flows; our ability to attract, retain and recover users and maintain and grow their level of engagement; our ability to provide content that is useful and relevant to users' personal taste and interests; our ability to develop successful new products or improve existing ones; our ability to maintain and enhance our brand and reputation; potential harm caused by compromises in security, including our cybersecu

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements PINTEREST, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value) (Unaudited) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 1,376,681 $ 1,361,936 Marketable securities 1,358,502 1,149,148 Accounts receivable, net of allowances of $ 8,729 and $ 10,635 as of June 30, 2024 and December 31, 2023, respectively 664,293 763,159 Prepaid expenses and other current assets 93,270 64,316 Total current assets 3,492,746 3,338,559 Property and equipment, net 40,036 32,225 Operating lease right-of-use assets 83,941 92,119 Goodwill and intangible assets, net 113,783 117,462 Other assets 17,010 14,040 Total assets $ 3,747,516 $ 3,594,405 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 73,924 $ 79,058 Accrued expenses and other current liabilities 293,779 238,032 Total current liabilities 367,703 317,090 Operating lease liabilities 151,750 160,616 Other liabilities 30,010 26,019 Total liabilities 549,463 503,725 Commitments and contingencies Stockholders' equity: Class A common stock, $ 0.00001 par value, 6,666,667 shares authorized, 603,564 and 591,663 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively; Class B common stock, $ 0.00001 par value, 1,333,333 shares authorized, 82,629 and 86,355 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 7 7 Additional paid-in capital 5,366,284 5,241,954 Accumulated other comprehensive loss ( 2,045 ) ( 1,013 ) Accumulated deficit ( 2,166,193 ) ( 2,150,268 ) Total stockholders' equity 3,198,053 3,090,680 Total liabilities and stockholders' equity $ 3,747,516 $ 3,594,405 T he accompanying notes are an integral part of these condensed consolidated financial statements. 8 PINTEREST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) Three Months Ended June 30,

View Full Filing

View this 10-Q filing on SEC EDGAR