Pinterest is a visual discovery engine where people search for ideas like recipes, outfits, and DIY projects, using personalized image and video pins. Think of it as a digital mood board for planning life's next steps.
Money comes from advertising on the platform, with revenue of USD 4.22B in 2025. Gross margin is high at 80%, but net margin is thin at 9.87%, showing heavy spending on growth and operations.
Pinterest's unique visual search and user intent data create a niche that Google and Meta struggle to replicate directly. However, TikTok and Instagram are aggressively copying its format, eroding its distinctiveness. Moat level: eroding.
Hold (sector percentile 65) — value C+, growth C+, profitability A-, momentum A-, revisions B. Updated daily, sector-relative, identical for every user.
Key events, in time order
Q2 revenue of $1.18B up 18% YoY, but Q3 growth outlook softens; AI cost wins vs. North American user choppiness
Institutional focus ahead of earnings centers on ad monetization outlook
Amova cut 70.1%, Fifth Third raised 4264.5%, showing divergence
Q1 2026 revenue exceeded $1 billion, growing 18% year-over-year, above guidance range
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