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Highlights
- Pinterest hits $1.15 billion in Q4 revenue, marking its first billion-dollar quarter.
- 553 million Monthly Active Users (MAUs) reported, up 11% YoY in Q4.
- Full-year revenue increased by 19%, reaching $3.65 billion for 2024.
Pinterest (NYSE:PINS) has delivered an impressive performance for Q4 2024 and the full year, posting its first-ever quarterly revenue exceeding $1 billion. The company reported a solid $1.15 billion in Q4 revenue, marking an 18% increase from the same period last year, a notable milestone for the platform. In addition, full-year revenue for 2024 grew 19%, totaling $3.65 billion. This growth highlights Pinterest's ability to leverage its platform to generate significant revenue while simultaneously expanding its user base.
A major highlight in the Q4 results was Pinterest's Monthly Active Users (MAUs), which hit a record-high 553 million, an increase of 11% year-over-year. This growth in user engagement is a strong testament to the platform's appeal and the effectiveness of its efforts to enhance user experience and deliver relevant content to its global audience. The increase in MAUs also reflects Pinterest’s expanding reach, especially in international markets.
On the profitability front, Pinterest reported a GAAP net income of $1.85 billion for Q4, boosted by a $1.6 billion benefit from the release of a tax asset valuation allowance. This one-time accounting benefit greatly contributed to the robust bottom-line performance. The company also saw a marked improvement in its operating margins, with Q4 Adjusted EBITDA rising to $471 million, resulting in an impressive 41% margin, up from 38% in the same period last year. This demonstrates Pinterest’s increasing operational efficiency, with its ability to generate more profit from its growing revenues.
Free cash flow remained strong, reaching $250 million in Q4 and $940 million for the full year, further underlining Pinterest’s financial health and ability to generate cash. Despite these positive results, Q4 free cash flow showed a slight decline of 1% year-over-year, while operating cash flow decreased by 2%. While the free cash flow decline was modest, it did raise some concerns among analysts about the company’s ability to sustain the same level of growth in the future.
Looking ahead, Pinterest is projecting Q1 2025 revenue between $837 million and $852 million, signaling 13-15% year-over-year growth. While this forecast indicates growth, it is a deceleration compared to the 18% growth seen in Q4 2024. Additionally, the company anticipates a 2% foreign exchange headwind for Q1 2025, which may affect its top-line performance in international markets.
