Pinterest delivered strong top-line growth and user engagement in Q4 2025, driven by increased global monthly active users and revenue growth across all regions. The company also demonstrated robust free cash flow generation, underscoring operational efficiency and strategic execution.
Global Monthly Active Users (MAUs) increased 12% year over year to 619 million, reaching an all-time high.
positiveRevenue grew 14% year over year to $1,319 million in Q4 and 16% year over year to $4,222 million for the full year 2025.
positiveFree cash flow increased 52% year over year to $380 million in Q4 and 33% year over year to $1,252 million for the full year 2025.
positiveAdjusted EBITDA margin remained strong at 41% in Q4 2025, consistent with the prior year.
neutralGAAP Net Income decreased significantly by 85% year over year to $277 million in Q4 2025, and by 78% year over year to $417 million for the full year 2025, largely due to a substantial tax benefit in the prior year.
attentionConstant currency revenue growth was slightly lower than reported revenue growth (13% vs 14% in Q4, 15% vs 16% for FY25), indicating a favorable foreign exchange impact.
attentionARPU growth in the U.S. and Canada was modest at 4% year over year, suggesting slower monetization in the core market compared to other regions.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Revenue - Global | N/A | — | — | — |
Revenue - U.S. and Canada | N/A | — | — | — |
Revenue - Europe | N/A | — | — | — |
Revenue - Rest of World | N/A | — | — | — |
MAUs - Global | N/A | — | — | — |
MAUs - U.S. and Canada | N/A | — | — | — |
MAUs - Europe | N/A | — | — | — |
MAUs - Rest of World | N/A | — | — | — |
ARPU - Global | N/A | — | — | — |
ARPU - U.S. and Canada | N/A | — | — | — |
ARPU - Europe | N/A | — | — | — |
ARPU - Rest of World | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Users are at all-time highs and overall engagement continues to grow, with more than 80 billion monthly searches on our platform as we continue to deliver strong innovation in visual search using AI.
We’re laser-focused on execution and transforming our sales and go-to-market efforts so monetization better reflects the valuable commercial intent we see on Pinterest.
We’re confident these important changes will make us a stronger company and position us to realize the long-term opportunity ahead.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.