Pinterest Q1 2021 Earnings Report
Key Takeaways
Pinterest reported strong Q1 2021 results with revenue growing 78% year-over-year to $485 million and MAUs increasing 30% year-over-year to 478 million. The company's international business and demand from mid-sized and managed small advertisers drove revenue growth. GAAP net loss was $22 million, while adjusted EBITDA was $84 million.
Revenue grew 78% year-over-year to $485 million, driven by growth in international business and from mid-sized and managed small advertisers.
Monthly Active Users (MAUs) increased 30% year-over-year to 478 million, with growth in both U.S. and international markets.
GAAP net loss was $22 million, or (4)% of revenue.
Adjusted EBITDA was $84 million, or 17% of revenue.
Pinterest
Pinterest
Pinterest Revenue by Geographic Location
Forward Guidance
The company expects Q2 revenue to grow around 105% year-over-year and global MAUs to grow in the mid-teens. US MAUs are expected to be around flat year-over-year. Operating expense growth is expected to accelerate.
Positive Outlook
- Q2 revenue is expected to grow around 105% year-over-year.
- Global MAUs are expected to grow in the mid-teens.
- Continued investment in long-term initiatives and growth drivers.
- Focus on content, Pinner experience, advertiser success, and shopping.
- Expected headcount growth to support international expansion efforts.
Challenges Ahead
- Continued uncertainty given the ongoing COVID-19 pandemic and other factors.
- US MAUs are expected to be around flat on a year-over-year percentage basis.
- Sequential operating expense growth to accelerate in Q2.
- Navigating uncertainty due to the ongoing COVID-19 pandemic.
- The company did not provide specific guidance beyond Q2.
Revenue & Expenses
Visualization of income flow from segment revenue to net income