Company profile

Ticker
PINS
Exchange
CEO
Benjamin Silbermann
Employees
Incorporated in
Location
Fiscal year end
Former names
Cold Brew Labs Inc.
SEC CIK
IRS number
263607129

PINS stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

6 May 20
12 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 271.94M 399.9M 279.7M 261.25M
Net income -141.2M -35.72M -124.73M -1.16B
Diluted EPS -0.25 0.91 -0.23 -2.62
Net profit margin -51.92% -8.93% -44.59% -444%
Operating income -146.09M -43.19M -133.71M -1.17B
Net change in cash 91.17M -384.21M -374.87M 1.27B
Cash on hand 740.83M 649.67M 1.03B 1.41B
Cost of revenue 99.23M 96.27M 83.52M 105.42M
Annual (USD) Dec 19 Dec 18 Dec 17
Revenue 1.14B 755.93M 472.85M
Net income -1.36B -62.97M -130.04M
Diluted EPS -3.24 -0.5 -1.03
Net profit margin -119% -8.33% -27.50%
Operating income -1.39B -74.72M -137.93M
Net change in cash 527.16M 51.04M
Cash on hand 649.67M 122.51M 71.47M
Cost of revenue 358.9M 241.58M 178.66M

Financial data from Pinterest earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
6 Jul 20 Sharp Evan Class A Common Stock Sell Dispose S Yes 24.98 62,500 1.56M 0
6 Jul 20 Sharp Evan Class B common stock Class A Common Stock Conversion Dispose C Yes 0 62,500 0 3,506,243
6 Jul 20 Sharp Evan Class B common stock Class A Common Stock Option exercise Aquire M No 0 62,500 0 3,568,743
6 Jul 20 Sharp Evan Stock Option Class B common stock Option exercise Dispose M No 0.0373 62,500 2.33K 2,001,950
6 Jul 20 Sharp Evan Class A Common Stock Conversion Aquire C Yes 0 62,500 0 62,500
2 Jul 20 Yang Tseli Lily Class A Common Stock Sell Dispose S Yes 24.0061 2,531 60.76K 78,075
2 Jul 20 Yang Tseli Lily Class A Common Stock Conversion Aquire C Yes 0 2,531 0 80,606
2 Jul 20 Yang Tseli Lily Class B common stock Class A Common Stock Conversion Dispose C Yes 0 2,531 0 253,097
29 Jun 20 Yang Tseli Lily Class A Common Stock Sell Dispose S Yes 21.2 2,531 53.66K 78,075
29 Jun 20 Yang Tseli Lily Class A Common Stock Conversion Aquire C Yes 0 2,531 0 80,606
66.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 373 328 +13.7%
Opened positions 115 150 -23.3%
Closed positions 70 45 +55.6%
Increased positions 163 99 +64.6%
Reduced positions 55 44 +25.0%
13F shares
Current Prev Q Change
Total value 4.68B 4.69B -0.3%
Total shares 269.98M 219.07M +23.2%
Total puts 10.02M 6.64M +50.9%
Total calls 9.25M 5.35M +72.9%
Total put/call ratio 1.1 1.2 -12.7%
Largest owners
Shares Value Change
Flossbach Von Storch 26.74M $412.82M +21.4%
Vanguard 24.67M $380.84M +4.2%
Harris Associates L P 11.78M $181.93M +1749.2%
Capital International Investors 11.5M $177.57M +375.3%
FMR 10.01M $154.54M -54.2%
CMTDF Sumitomo Mitsui Trust 9.86M $152.21M +187.8%
FirstMark Capital I GP 9.42M $145.38M 0.0%
Nikko Asset Management Americas 8.78M $135.58M +203.6%
ArrowMark Colorado 8.13M $125.46M +81.7%
Eminence Capital 7.98M $123.18M +88.7%
Largest transactions
Shares Bought/sold Change
Wellington Management 1.84M -14.41M -88.7%
FMR 10.01M -11.83M -54.2%
Harris Associates L P 11.78M +11.15M +1749.2%
Capital International Investors 11.5M +9.08M +375.3%
CMTDF Sumitomo Mitsui Trust 9.86M +6.43M +187.8%
Nikko Asset Management Americas 8.78M +5.89M +203.6%
DB Deutsche Bank 5.47M +5.03M +1155.4%
Light Street Capital Management 81.94K -4.96M -98.4%
Flossbach Von Storch 26.74M +4.71M +21.4%
ARK Investment Management 5.61M +3.95M +238.4%

Financial report summary

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Risks
  • The recent global COVID-19 pandemic outbreak could harm our business and results of operations.
  • Our ecosystem of Pinners and advertisers depends on our ability to attract, retain and engage our user base. If we fail to add new Pinners or retain current Pinners, or if Pinners engage less with us, our business, revenue and financial results could be harmed.
  • If we are not able to continue to provide content that is useful and relevant to Pinners’ personal taste and interests or fail to remove objectionable content or block objectionable practices by advertisers or third
  • parties, user growth, retention or engagement could decline, which could result in the loss of advertisers and revenue.
  • If we do not develop successful new products or improve existing ones, our business may suffer. We may also invest in new products that fail to attract or retain Pinners or generate revenue.
  • Our business depends on a strong brand and reputation, and if we are unable to maintain and enhance our brand and reputation, our ability to expand our user and advertiser base will be impaired and our business, revenue and financial results could be harmed.
  • If our security is compromised, or Pinners or advertisers believe our security has been compromised, we could lose the trust of Pinners and advertisers who may use our service less or may stop using our service altogether, which could harm our business, revenue and financial results.
  • We depend in part on internet search engines to direct traffic and refer new Pinners to our service. If search engines’ methodologies and policies are modified or enforced in ways we do not anticipate, or if our search results page rankings decline for other reasons, traffic to our service or user growth, retention or engagement could decline, any of which could harm our business, revenue and financial results.
  • We allow users to authenticate with our service through third-party login providers. If these third parties discontinue these tools or experience a breach or outage in their platform or web browser developers make changes that restrict the use of these tools, user growth or engagement could decline, and our business, revenue and financial results could be harmed.
  • If we are unable to compete effectively for users, our business, revenue and financial results could be harmed.
  • If we are unable to compete effectively for advertisers, our business, revenue and financial results could be harmed.
  • We are in the early stages of our monetization efforts and there is no assurance we will be able to scale our business for future growth.
  • We generate substantially all of our revenue from advertising. The failure to attract new advertisers, the loss of advertisers or a reduction in how much they spend could harm our business, revenue and financial results.
  • Our ability to attract and retain advertisers depends on the development of tools to accurately measure the effectiveness of advertisements on our platform.
  • We may not be able to develop effective products and tools for advertisers.
  • We may not succeed in further expanding and monetizing our platform internationally and may be subject to increased international business and economic risks.
  • We cannot assure you that we will effectively manage the growth of our business.
  • We have a limited operating history and, as a result, our past results may not be indicative of future operating performance.
  • We have incurred operating losses in the past, anticipate increasing our costs and operating expenses, expect to incur operating losses in the future and may never achieve or maintain profitability.
  • We may make decisions consistent with our mission and values that may reduce our short- or medium-term operating results.
  • Our operating results are likely to fluctuate from quarter to quarter, which makes them difficult to predict.
  • We receive, process, store, use and share data, some of which contains personal information, which subjects us to complex and evolving governmental regulation and other legal obligations related to data privacy, data protection and other matters, which are subject to change and uncertain interpretation.
  • Pinner metrics and other estimates are subject to inherent challenges in measurement, and real or perceived inaccuracies in those metrics could harm our business, revenue and financial results.
  • Technologies have been developed that can block the display of our ads, which could harm our business, revenue and financial results.
  • We depend on Amazon Web Services for the vast majority of our compute, storage, data transfer and other services. Any disruption of, degradation in or interference with our use of Amazon Web Services could negatively affect our operations and harm our business, revenue and financial results.
  • We must effectively operate with mobile operating systems, web browsers, networks, regulations and standards, which we do not control. Changes in our products or to those mobile operating systems, web browsers, networks, regulations or standards may harm Pinner retention, growth and engagement.
  • We rely on software, technologies and related services from other parties, and problems in their use, access or performance could increase our costs and harm our business, revenue and financial results.
  • Our business depends on our ability to maintain and scale our technology infrastructure, including speed and availability of our service.
  • The loss of one or more of our key personnel, or our failure to attract and retain other highly qualified personnel in the future, could harm our business, revenue and financial results.
  • Action by governments to restrict access to our service or certain of our products in their countries could harm our business, revenue and financial results.
  • We may be liable as a result of content or information that is published or made available on our service.
  • We could become involved in legal disputes involving intellectual property claims or other disputes that are expensive to support, and if resolved adversely, could harm our business, revenue and financial results.
  • If we are unable to protect our intellectual property, the value of our brand and other intangible assets may be diminished, and our business, revenue and financial results could be harmed.
  • Our use of “open source” software could subject us to possible litigation or could prevent us from offering products that include open source software or require us to obtain licenses on unfavorable terms.
  • We may acquire other businesses, which could require significant management attention, disrupt our business, dilute stockholder value and harm our business, revenue and financial results.
  • If we are unable to obtain additional financing, if needed or if we default on our credit obligations, our operations may be interrupted and our business, revenue and financial results could be harmed.
  • The interpretation and application of recent U.S. tax legislation or other changes in U.S. or non-U.S. taxation of our operations could harm our business, revenue and financial results.
  • We may have greater than anticipated tax liabilities, which could harm our business, revenue and financial results.
  • Our ability to use or benefit from our net operating loss carryforwards and certain other tax attributes may be limited.
  • Adverse global economic and financial conditions could harm our business and financial condition.
  • The dual class structure of our common stock has the effect of concentrating voting control with those stockholders who held our capital stock prior to the completion of our initial public offering ("IPO"), including our co-founders, executive officers, employees and directors, their affiliates, and all of our other pre-IPO stockholders (including those unaffiliated with any of our co-founders, executive officers, employees or directors). This will limit or preclude your ability to influence corporate matters.
  • Our dual class structure may depress the trading price of our Class A common stock.
  • An active trading market for our Class A common stock may not be sustained.
  • The trading price of our Class A common stock may be volatile, and you could lose all or part of your investment.
  • Future offerings of debt or equity securities by us or existing shareholders may adversely affect the market price of our Class A common stock.
  • Additional stock issuances, including in connection with settlement of equity awards, could result in significant dilution to our stockholders.
  • We have broad discretion over the use of the net proceeds from our IPO and we may not use them effectively.
  • Delaware law and provisions in our amended and restated certificate of incorporation and amended and restated bylaws could make a merger, tender offer or proxy contest difficult, thereby depressing the market price of our Class A common stock.
  • Our amended and restated certificate of incorporation designates a state or federal court located within the State of Delaware as the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to choose the judicial forum for disputes with us or our directors, officers or employees.
  • We do not intend to pay dividends for the foreseeable future.
  • The requirements of being a public company have and may continue to strain our resources, divert management’s attention and may result in more litigation.
Management Discussion
  • (2)See “Non-GAAP Financial Measure” for more information and for a reconciliation of net loss, the most directly comparable financial measure calculated and presented in accordance with GAAP, to Adjusted EBITDA.
  • Revenue for the three months ended March 31, 2020 increased by $70.0 million compared to the three months ended March 31, 2019. Revenue growth was driven by a 7% increase in APRU supported by a 26% increase in MAUs. ARPU growth was driven by higher monetization of our user base largely due to an increase in advertising demand from new and existing advertisers on our platform. This resulted in an increase in the number of advertisements served as well as an increase in the price of advertisements, but the impact of the latter was not significant.
  • Revenue based on our estimate of the geographic location of our users increased by 27% in the United States to $236.8 million and by 136% internationally to $35.1 million for the three months ended March 31, 2020 compared to the three months ended March 31, 2019. For the three months ended March 31, 2020, U.S. revenue growth was driven by an 18% increase in U.S. ARPU supported by a 6% increase in U.S. MAUs, and international revenue growth was driven by a 76% increase in international ARPU and a 34% increase in international MAUs.
Content analysis ?
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