Q3 2025 Pinterest Inc Earnings Call Transcript
Key Points
- Pinterest Inc (PINS) reported a 17% year-over-year revenue growth in Q3 2025, reaching $1.049 billion.
- The company achieved a record high of 600 million monthly active users, marking the ninth consecutive quarter of user growth.
- Gen Z, the largest and fastest-growing cohort, now comprises over 50% of Pinterest's user base, providing a lucrative audience for advertisers.
- Pinterest's AI-driven visual search capabilities have seen a 44% year-over-year increase in queries, enhancing user engagement and shopping recommendations.
- International markets are showing significant growth potential, with Rest of World revenue growing 66% year-over-year, indicating successful exportation of monetization strategies.
- Ad pricing declined by 24% year-over-year, primarily due to a mix shift towards lower-priced international markets.
- The company faced pockets of moderating ad spend in the US and Canada, particularly from large retailers navigating tariff-related margin pressures.
- Despite strong user growth, Pinterest's international monetization remains underdeveloped, with international users representing 83% of the user base but only 25% of global revenue.
- The cost of revenue increased by 13% year-over-year due to higher infrastructure spending, impacting overall profitability.
- Pinterest's reliance on AI-driven systems requires ongoing investment, which may pressure margins as the company continues to scale these technologies.
Good day, ladies and gentlemen. Thank you for joining today's Pinterest Third Quarter 2025 Earnings Conference Call. My name is Tia, and I will be your moderator for today's call. (Operator Instructions)
I would now like to pass the call over to your host, Andrew Somberg, Vice President of Investor Relations and Treasury. Please proceed.
Good afternoon, and thank you for joining us. Welcome to Pinterest's earnings call for the third quarter ended September 30, 2025. My name is Andrew Somberg, and I'm Vice President of Investor Relations and Treasury for Pinterest.
Joining me on today's call are Bill Ready, Pinterest's CEO; and Julia Donnelly, our CFO. This conference call is being webcast, and we are also providing a slide presentation to accompany our commentary. Please refer to our Investor Relations website at investor.pinterest.com to find today's presentation webcast and earnings press release.
Some of the statements that we make today regarding
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