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Dec 31, 2024
Pinterest Q4 2024 Earnings Report
Key Takeaways
Pinterest achieved its first billion-dollar revenue quarter in Q4 2024, reporting $1.15 billion in revenue, an 18% increase YoY. The company saw record global monthly active users at 553 million, up 11%. GAAP net income surged to $1.85 billion, largely due to a $1.6 billion tax benefit, while adjusted EBITDA increased 28% to $471 million.
Pinterest
Pinterest
Pinterest Revenue by Geographic Location
Forward Guidance
Pinterest expects Q1 2025 revenue between $837 million and $852 million, reflecting a 13-15% YoY increase. Adjusted EBITDA is projected to range from $155 million to $170 million.
Positive Outlook
- Revenue expected to grow 13-15% YoY in Q1 2025.
- MAU growth continues, reaching record levels in Q4 2024.
- Adjusted EBITDA margin improved from 38% to 41% YoY.
- Increased ARPU across all regions indicates better monetization.
- Strong free cash flow generation of $250 million in Q4.
Challenges Ahead
- Net income heavily impacted by one-time tax benefit, not reflective of core operations.
- Revenue growth expected to slow slightly in Q1 2025.
- Operating expenses, including R&D and marketing, continue to rise.
- Foreign exchange headwinds expected to impact revenue growth by 2 percentage points.
- High dependency on U.S. and Canada for revenue (78% of total).
Revenue & Expenses
Visualization of income flow from segment revenue to net income