Pinterest (PINS) financial statements
Pinterest reported revenue of $4.2B in fiscal 2025, up 31.5% a year over 8 years.
Net income was $417M and the operating margin 7.6%, against -29.2% in 2017.
Free cash flow was $1.3B, and the company returned $927M in net buybacks.
The diluted share count rose 443% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Pinterest's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $473M | $756M | $1.1B | $1.7B | $2.6B | $2.8B | $3.1B | $3.6B | $4.2B |
| Cost of revenue | $179M | $242M | $359M | $449M | $529M | $679M | $689M | $750M | $842M |
| Gross profit | $294M | $514M | $784M | $1.2B | $2.0B | $2.1B | $2.4B | $2.9B | $3.4B |
| Research and development | $208M | $252M | $1.2B | $606M | $780M | $949M | $1.1B | $1.2B | $1.4B |
| Selling, general and admin | $224M | $337M | $966M | $780M | $942M | $1.3B | $1.4B | $1.5B | $1.6B |
| Operating income | -$138M | -$75M | -$1.4B | -$143M | $326M | -$102M | -$126M | $180M | $320M |
| Pre-tax income | -$130M | -$63M | -$1.4B | -$127M | $321M | -$86M | -$16M | $288M | $446M |
| Income tax | $311,000 | $410,000 | $532,000 | $1M | $5M | $10M | $19M | -$1.6B | $29M |
| Net income | -$130M | -$63M | -$1.4B | -$128M | $316M | -$96M | -$36M | $1.9B | $417M |
| EPS (diluted) | -$1.03 | -$0.50 | -$3.24 | -$0.22 | $0.46 | -$0.14 | -$0.05 | $2.67 | $0.61 |
| Diluted shares | 127M | 127M | 420M | 596M | 692M | 666M | 675M | 698M | 688M |
| Gross margin | 62.2% | 68.0% | 68.6% | 73.5% | 79.5% | 75.8% | 77.5% | 79.4% | 80.1% |
| Operating margin | -29.2% | -9.9% | -121.5% | -8.4% | 12.7% | -3.6% | -4.1% | 4.9% | 7.6% |
| Net margin | -27.5% | -8.3% | -119.1% | -7.6% | 12.3% | -3.4% | -1.2% | 51.1% | 9.9% |
Balance sheet
Fiscal years, from Pinterest's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $71M | $628M | $1.7B | $1.8B | $2.5B | $2.7B | $2.5B | $2.5B | $2.5B |
| Receivables | — | $222M | $316M | $564M | $653M | $682M | $763M | $893M | $998M |
| Total current assets | — | $889M | $2.1B | $2.4B | $3.2B | $3.5B | $3.3B | $3.5B | $3.6B |
| Property, plant and equipment | — | $82M | $92M | $69M | $53M | $60M | $32M | $46M | $66M |
| Goodwill | — | — | — | $7M | $40M | $100M | — | — | $100M |
| Total assets | — | $1.2B | $2.4B | $2.6B | $3.5B | $3.9B | $3.6B | $5.3B | $5.5B |
| Total current liabilities | — | $108M | $176M | $205M | $260M | $381M | $317M | $398M | $465M |
| Total liabilities | — | $282M | $370M | $367M | $498M | $581M | $504M | $592M | $747M |
| Shareholders' equity | -$546M | -$595M | $2.0B | $2.2B | $3.0B | $3.3B | $3.1B | $4.8B | $4.7B |
| Net debt | -$71M | -$123M | -$650M | -$669M | -$1.4B | -$1.6B | -$1.4B | -$1.1B | -$969M |
Cash flow
Fiscal years, from Pinterest's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$103M | -$60M | $657,000 | $29M | $753M | $469M | $613M | $965M | $1.3B |
| Capital spending | $41M | $22M | $34M | $17M | $9M | $29M | $8M | $25M | $32M |
| Free cash flow | -$144M | -$83M | -$33M | $11M | $744M | $440M | $605M | $940M | $1.3B |
| Stock-based compensation | $29M | $15M | $1.4B | $321M | $415M | $497M | $648M | $766M | $880M |
| Share buybacks (net) | — | — | — | — | $0 | $0 | -$500M | -$600M | -$927M |
| Free cash flow margin | -30.5% | -10.9% | -2.9% | 0.7% | 28.9% | 15.7% | 19.8% | 25.8% | 29.7% |
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Open PINS in InvestinglyQuestions
What was Pinterest's revenue in 2025?
$4.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Pinterest generate?
$1.3B in fiscal 2025 (operating cash flow minus capital spending).
From Pinterest's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.