Companies · PINS
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Latest analysis
Updated Oct 29, 2026
Pinterest Q3 2026: EU de minimis pullback cost 3 points of global growth; UCAN re-acceleration and 661M MAUs signal platform health beneath the miss
Pinterest missed its Q3 2026 revenue guidance at $1.174 billion (+12% YoY), with the shortfall driven by a larger-than-forecast pullback from cross-border sellers responding to the EU de minimis exemption removal, which alone accounted for approximately 3 points of the sequential deceleration from 18% in Q2 to 12% in Q3. UCAN remains the structural bright spot, growing 14% in Q3 and mid-teens year-to-date, validating the performance-ads playbook now being exported internationally. Adjusted EBITDA of $339 million (29% margin) came in within guidance, and Q4 guidance of $1.425B-$1.475B (+8%-12%) reflects a deliberately widened range as management acknowledges that cross-border headwinds will persist through the holiday quarter.
Tone: cautiousRevenue
$4.2B
PINS 10-K · FY 2025
Employees
5,265
Revenue growth YoY
+16%
EBITDA margin
30%
Profile
PINS 10-K Item 1 · Feb 12, 2026Pinterest is an AI-powered visual search and discovery platform that sits at the intersection of search, social media, and commerce. The company generates substantially all revenue from digital advertising, serving brands across the full marketing funnel from awareness to conversion. With 619 million monthly active users, Pinterest monetizes high-intent consumer behavior through an auction-based ad system augmented by proprietary AI and computer vision.
Read filing description ↓ Collapse description ↑
Pinterest is an AI-powered visual search and discovery platform, positioned at the intersection of search, social, and commerce. We offer a unique and differentiated experience that enables people to go from inspiration to action all on one consumer internet property. Pinterest can be accessed through our mobile application or the web. People use Pinterest to find useful, relevant ideas—and then bring them to life. People don't always have the words to describe what they're looking for, but often know it when they see it. As they browse Pinterest content (called 'Pins'), they fine-tune their tastes and find the perfect idea. Users interact with the platform in dynamic multi-session journeys to find inspiration, curate their latest look, plan their next project and shop from great brands. This happens at a massive scale, with billions of searches and saves per month, with the vast majority of queries being visual. The unique, first party, intent-based signal we receive from user actions on Pinterest helps power the AI based recommendation systems that we use to surface relevant and engaging content to our users. AI also plays a central role in how we drive value for our advertisers, who come to Pinterest to reach our users with high commercial intent. The inspiration-to-action journey on Pinterest aligns with the advertiser marketing funnel, allowing us to help brands reach customers at every stage, from discovery to purchase, through digital ads. We believe users and advertisers intentionally choose Pinterest because of our efforts to create a positive and more brand safe environment.
Primary products
- Home Feed
- Search Page
- Related Pins
- Boards
- Standard ad
- Video ad
End markets
Geographies
Named competitors
“We primarily compete with consumer internet companies that are either tools (search, ecommerce) or media (newsfeeds, video, social networks), particularly ones focused on advertising.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenue increased 16% on a reported basis and 15% on a constant currency basis compared to 2024, driven by ongoing investments in relevance, personalization and advertiser tools.
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Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.