Pinterest swings to $73.6M loss on $47M restructuring, deploys $1.5B for buybacks via debt

Filed May 4, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 8, 2025 · ~2 min read

Key Changes

• high

  Q1 2026 net loss of $73.6M vs. $8.9M income prior year, driven by $47.1M restructuring charges (workforce cut <15%, office reductions) to reallocate resources toward AI-focused roles. Adjusted EBITDA grew 20% to $206.5M, indicating underlying operational strength.

  MD&A: Restructuring Plan verify on EDGAR →
• high

  Issued $1.0B convertible notes to Elliott Investment Management and authorized $3.5B buyback program; deployed $1.5B in Q1 via open market purchases and $1.0B accelerated share repurchase. Cash declined from $2.6B to $1.3B. Notes convertible to Class A shares with anti-dilution provisions that can increase conversion rate.

  MD&A: Capital Allocation; Risk Factors: Convertible Notes verify on EDGAR →
• high

  Revenue grew 18% to $1.0B (15% constant currency) with MAUs up 11% to 631M and ARPU up 6% to $1.61. Ad volume growth decelerated to 24% from 49% prior year, but pricing pressure eased sharply (down 5% vs. down 22%), suggesting improving pricing power.

  MD&A: Revenue Growth verify on EDGAR →