PINS on NYSE

Pinterest Inc.

Logo: Grilli Type, Pinterest (Andreas Helin, Michelle Van Houten and Simon Blockley) and MadeThought, Public domain, via Wikimedia Commons4

American company based in San Francisco1

In its 2026 annual report the company says: “Pinterest is an AI-powered visual search and discovery platform, positioned at the intersection of search, social, and commerce. We offer a unique and differentiated experience that enables people to go from inspiration to action all on one consumer internet property.”8 It employed 3,225 people in 2021.1 Its shares trade on NYSE under the symbol PINS.1

Price unavailable

Last updated Oct 21, 2026.

Overview

$4.2BRevenue, fiscal 20255
$416.9MNet income, fiscal 20255

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  • TickerPINS on NYSE1
  • Industrysocial media1
  • HeadquartersSan Francisco1
  • Websitewww.pinterest.de
  • Incorporated inDE6
  • Business address651 Brannan Street, San Francisco, Ca 941076
  • Filer categoryLarge accelerated filer6
  • Legal formCorporation3
  • LEI529900Y043CEBGO4HB653
  • StatusActive3
  • LEI statusIssued and current3
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States3
  • Registered withDivision of Corporations, Department of State, 46164613

Pinterest is an AI-powered visual search and discovery platform, positioned at the intersection of search, social, and commerce. We offer a unique and differentiated experience that enables people to go from inspiration to action all on one consumer internet property. Pinterest can be accessed through our mobile application or the web.8 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

7.6%Operating margin5
9.9%Net margin5
15.8%Revenue growth, 20255
8.8%Return on equity5
$1.3BFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

United States And Canada brought in 43% of the revenue Pinterest Inc. broke down this way in fiscal 2025.

  1. United States And Canada$3.1B543%up 11% from 2024
  2. United States$2.9B541%up 11% from 2024
  3. Europe$779.1M511%up 30% from 2024
  4. Rest Of World$390.0M55%up 28% from 2024
Regions by year
Regions202320242025
United States And Canada$2.4B$2.7B$3.1B
United States$2.2B$2.6B$2.9B
Europe$501.3M$601.2M$779.1M
Rest Of World$203.6M$305.1M$390.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue20¢$841.5M
  • Research and development34¢$1.4B
  • Other costs36¢$1.5B
  • Income tax1¢$29.0M
  • Profit10¢$416.9M

Out of $4.2B in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending3¢$32.4M
  • Share buybacks72¢$927.0M
  • Kept or used elsewhere25¢$324.9M

Out of $1.3B of cash from operations.5

Financial statements

Revenue9101112135$4.2B in 2025+458% since 2018
0$2.0B$4.0B$6.0B2018: $755.9M$755.9M20182019: $1.1B$1.1B2019+51%2020: $1.7B$1.7B2020+48%2021: $2.6B$2.6B2021+52%2022: $2.8B$2.8B2022+9%2023: $3.1B$3.1B2023+9%2024: $3.6B$3.6B2024+19%2025: $4.2B$4.2B2025+16%
Operating income9101112135$319.9M in 2025
-$1.5B-$1.0B-$500.0M0$500.0M2018: -$74.7M-$74.7M20182019: -$1.4B-$1.4B2019+1759%2020: -$142.5M-$142.5M2020−90%2021: $326.2M$326.2M20212022: -$101.7M-$101.7M20222023: -$125.7M-$125.7M2023+24%2024: $179.8M$179.8M20242025: $319.9M$319.9M2025+78%
Net income9101112135$416.9M in 2025
-$2.0B-$1.0B0$1.0B$2.0B2018: -$63.0M-$63.0M20182019: -$1.4B-$1.4B2019+2062%2020: -$128.3M-$128.3M2020−91%2021: $316.4M$316.4M20212022: -$96.0M-$96.0M20222023: -$35.6M-$35.6M2023−63%2024: $1.9B$1.9B20242025: $416.9M$416.9M2025−78%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Revenue$4.2B$3.6B$3.1B
Cost of revenue$841.5M$750.4M$688.8M
Research and development$1.4B$1.2B$1.1B
Sales and marketing$1.2B$1.0B$911.2M
General and administrative$466.2M$463.7M$512.4M
Total costs and expenses$3.9B$3.5B$3.2B
Income (loss) from operations$319.9M$179.8M-$125.7M
Interest income (expense), net$110.5M$127.0M$105.4M
Other income (expense), net$15.5M-$19.2M$3.8M
Income (loss) before provision for (benefit from) income taxes$445.9M$287.6M-$16.4M
Provision for (benefit from) income taxes$29.0M-$1.6B$19.2M
Net income (loss)$416.9M$1.9B-$35.6M
Basic (in dollars per share)$0.62$2.74-$0.05
Diluted (in dollars per share)$0.61$2.67-$0.05
Basic (in shares)674.7M shares678.8M shares674.6M shares
Diluted (in shares)687.8M shares698.4M shares674.6M shares

Compare Pinterest Inc. with another company

Corporate structure

Pinterest Inc. sits at the top of its group. 2 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Pinterest Inc.

  • Pinterest Inc. Wilmington, Delaware, United States
    • Pinterest Europe Limited Subsidiary · Ireland
    • Instapaper Owned

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Pinterest Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$105.5M5 Dec 31, 2025$89.7M5 Dec 31, 2024+17.6%
Property and equipment, net$66.5M5 Dec 31, 2025$45.6M5 Dec 31, 2024+45.6%
Operating-lease assets (leased space)$150.4M5 Dec 31, 2025$85.9M5 Dec 31, 2024+75.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$969.3M5 Dec 31, 2025$1.1B5 Dec 31, 2024−14.7%
Marketable securities, current$1.5B5 Dec 31, 2025$1.4B5 Dec 31, 2024+8.8%
Debt securities available for sale$1.5B5 Dec 31, 2025$1.4B5 Dec 31, 2024+8.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$59.6M5 Dec 31, 2025$57.6M5 Dec 31, 2024+3.4%
Accumulated amortization$53.5M5 Dec 31, 2025$47.7M5 Dec 31, 2024+12.1%
Finite-lived intangibles, net$6.1M5 Dec 31, 2025$9.9M5 Dec 31, 2024−38.4%

Properties, in its own words

Facilities

Our corporate headquarters is located in San Francisco, California, where we occupy approximately 120,000 square feet of leased office space, excluding leases we have ceased to use. As of December 31, 2025, we maintained offices in various locations in the United States and internationally totaling approximately 604,000 square feet. We believe that our facilities are sufficient for our existing needs.

Item 2 of the 10-K filed Feb 12, 2026.8

Stakes and holdings (Wikidata)

  • Instapaper

Things Wikidata records the company as owning, with the share when stated.1

Leadership

Who has led Pinterest Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (29)

Subsidiaries and ownership

Also owns

  • Instapaper

Subsidiaries (Exhibit 21)

  • Pinterest Europe Limited Ireland7

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Employees over time

  • 20213,2251

Former names

  • Cold Brew Labs Inc.Dec 2, 2010 to Dec 2, 20106

Timeline

  1. Oct 15, 20268-K Entered a material agreement; New debt or obligation52
  2. Oct 5, 20268-K Executive or director change; Regulation FD disclosure53
  3. Oct 2, 20268-K Executive or director change54
  4. Aug 28, 20268-K Executive or director change55
  5. Aug 7, 20268-K Executive or director change56
  6. Aug 4, 20268-K Results of operations57
  7. May 26, 20268-K Shareholder vote58
  8. May 4, 20268-K Results of operations; Executive or director change59
  9. Mar 5, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares60
  10. Mar 3, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares61
  11. Feb 18, 20268-K Regulation FD disclosure62
  12. Feb 12, 20268-K Results of operations63
  13. Jul 1, 2022New chief executive William J. Ready becomes CEO19
  14. 2010New chief executive Ben Silbermann becomes CEO1
  15. Oct 28, 2008Founded Pinterest Inc. is founded3

Calendar

Coming up

  1. Nov 3, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.14 a share, on Nov 4, 2025.64

When it reported results

  1. Aug 4, 2026Reported quarterly or annual results57
  2. May 4, 2026Reported quarterly or annual results59
  3. Feb 12, 2026Reported quarterly or annual results63
  4. Nov 4, 2025Reported quarterly or annual results65
  5. Aug 7, 2025Reported quarterly or annual results66
  6. May 8, 2025Reported quarterly or annual results67
  7. Feb 6, 2025Reported quarterly or annual results68
  8. Nov 7, 2024Reported quarterly or annual results69

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

795 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 53 major events, 468 insider forms, 32 large holders, 222 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Oct 14, 2026144 EDGAR
  3. Oct 14, 20264 EDGAR
  4. Oct 13, 2026144 EDGAR
  5. Oct 7, 2026144 EDGAR
  6. Oct 7, 20264 EDGAR
  7. Oct 6, 20264 EDGAR
  8. Oct 6, 2026144 EDGAR
  9. Oct 6, 2026144 EDGAR
  10. Oct 6, 20264 EDGAR
  11. Oct 5, 2026144 EDGAR
  12. Oct 5, 20268-K EDGAR
  13. Oct 2, 20268-K EDGAR
  14. Sep 30, 2026144 EDGAR
  15. Sep 30, 20264 EDGAR
  16. Sep 29, 2026144 EDGAR
  17. Sep 25, 20264 EDGAR
  18. Sep 24, 2026144 EDGAR
  19. Sep 24, 20264 EDGAR
  20. Sep 23, 2026144 EDGAR

The 795 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

258 open-market trades by officers, directors and large owners since October 2021: 1 buys and 257 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 30, 2026Silbermann BenjaminDirectorSale46,875$18.72$877.5KForm 4
Sep 29, 2026Silbermann BenjaminDirectorSale46,875$18.33$859.2KForm 4
Sep 24, 2026Brau Donnelly JuliaChief Financial OfficerSale29,548$18.61$549.9KForm 4
Sep 23, 2026Walcott Wanjiku JuanitaChief Legal & Bus Affairs Ofc.Sale14,103$18.21$256.8KForm 4
Sep 23, 2026Silbermann BenjaminDirectorSale46,875$18.21$853.6KForm 4
Sep 22, 2026Silbermann BenjaminDirectorSale46,875$19.50$914.1KForm 4
Sep 16, 2026Silbermann BenjaminDirectorSale46,875$18.64$873.8KForm 4
Sep 15, 2026Silbermann BenjaminDirectorSale46,875$19.22$900.9KForm 4
Sep 9, 2026Silbermann BenjaminDirectorSale46,875$20.04$939.4KForm 4
Sep 8, 2026Silbermann BenjaminDirectorSale46,875$20.07$940.8KForm 4
Sep 2, 2026Silbermann BenjaminDirectorSale93,750$21.43$2.0MForm 4
Aug 26, 2026Silbermann BenjaminDirectorSale46,875$23.57$1.1MForm 4
Aug 25, 2026Silbermann BenjaminDirectorSale46,875$23.53$1.1MForm 4
Aug 19, 2026Rajaram GokulDirectorSale1,050$23.03$24.2KForm 4
Aug 19, 2026Silbermann BenjaminDirectorSale46,875$23.11$1.1MForm 4
Aug 18, 2026Silbermann BenjaminDirectorSale46,875$23.40$1.1MForm 4
Aug 12, 2026Silbermann BenjaminDirectorSale46,875$23.23$1.1MForm 4
Aug 11, 2026Brown Claude LeonardChief Business OfficerSale12,240$23.88$292.3KForm 4
Aug 11, 2026Silbermann BenjaminDirectorSale46,875$23.88$1.1MForm 4
Aug 7, 2026Brau Donnelly JuliaChief Financial OfficerSale59,096$23.48$1.4MForm 4

All 258 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Bill ReadyChief Executive Officer46$620.8K$39.3M80
2025Matthew MadrigalChief Technology Officer50$620.8K$22.4M80
2025Julia Brau DonnellyChief Financial Officer43$620.8K$16.9M80
2025Wanji WalcottChief Legal & Business Affairs Officer55$620.8K$12.5M80
2025Malik DucardChief Content Officer$620.8K$11.7M80
2024Bill ReadyChief Executive Officer46$600.0K$18.1M80
2024Matthew MadrigalChief Technology Officer50$245.5K$13.7M80
2024Malik DucardChief Content Officer$600.0K$6.7M80
2024Wanji WalcottChief Legal & Business Affairs Officer55$600.0K$6.2M80
2024Julia Brau DonnellyChief Financial Officer43$600.0K$5.5M80
2023Julia Brau DonnellyChief Financial Officer43$320.5K$16.5M80
2023Wanji WalcottChief Legal & Business Affairs Officer55$516.7K$10.3M80
2023Malik DucardChief Content Officer$516.7K$4.2M80
2023Bill ReadyChief Executive Officer46$516.7K$522.7K80

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.47,405,026$996.9M0.0%−16,709,928
Ameriprise Financial Inc44,946,918$945.5M0.2%+26,325,446
Elliott Investment Management L.P.28,000,000$588.8M4.1%No change
UBS Group AG23,988,215$504.5M0.1%+7,965,912
Victory Capital Management Inc21,678,049$455.9M0.3%−1,195,072
Vanguard Capital Management LLC20,201,291$424.8M0.0%−5,101,945
Vanguard Portfolio Management LLC19,716,591$414.6M0.0%−9,664,088
Goldman Sachs Group Inc18,327,874$385.4M0.0%−33,563,064
State Street Corp15,317,272$322.1M0.0%−6,210,872
Davis Selected Advisers12,574,721$264.5M1.1%+174,620
Norges Bank12,293,601$258.5M0.0%New
Citadel Advisors LLC11,260,049$236.8M0.1%+8,085,349
Point72 Asset Management, L.P.9,389,419$197.5M0.3%New
Geode Capital Management, LLC9,140,058$192.3M0.0%−2,264,237
Balyasny Asset Management L.P.8,560,019$180.0M0.3%New
Morgan Stanley6,826,901$143.6M0.0%−2,147,464
Bank Of America Corp /de/6,315,693$132.8M0.0%+467,577
Citigroup Inc5,528,282$116.3M0.1%+4,274,904
Robeco Institutional Asset Management B.V.5,341,913$112.3M0.1%+1,703,646
Man Group plc5,265,021$110.7M0.2%+724,134
Charles Schwab Investment Management Inc5,229,715$110.0M0.0%−261,362
Aqr Capital Management LLC5,199,935$109.4M0.0%+1,145,529
Federated Hermes, Inc.4,632,997$97.4M0.1%−787,029
Northern Trust Corp4,102,315$86.3M0.0%−1,775,038
Massachusetts Financial Services Co /ma/3,966,279$83.4M0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

17 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Aug 7, 2026Christian D. MenefeeDemocratic, HouseSale$15,001 - $50,000+3.9%Report
Jun 11, 2026Christian D. MenefeeDemocratic, HouseSale$15,001 - $50,000−1.0%Report
May 28, 2026Christian D. MenefeeDemocratic, HouseSale$15,001 - $50,000−7.7%Report
Feb 23, 2026Christian D. MenefeeDemocratic, HouseSale$15,001 - $50,000−23.0%Report
Feb 17, 2026Christian D. MenefeeDemocratic, HouseSale$1,001 - $15,000−33.4%Report
Dec 16, 2025Julia LetlowRepublican, HouseSale$1,001 - $15,000+25.6%Report
Oct 23, 2024Julia LetlowRepublican, HouseBuy$1,001 - $15,000−61.5%Report
Apr 28, 2023John W. HickenlooperDemocratic, SenateSale$1,001 - $15,000+86.8%Report
Jan 14, 2022David RouzerRepublican, HouseSale$1,001 - $15,000+96.9%Report
Aug 27, 2021Josh GottheimerDemocratic, HouseSale$1,001 - $15,000+131.7%Report
Aug 2, 2021Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+136.6%Report
Jul 30, 2021John W. HickenlooperDemocratic, SenateBuy$15,001 - $50,000−137.4%Report
Jul 13, 2021Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+145.7%Report
Nov 16, 2020Thomas R. SuozziDemocratic, HouseSale$15,001 - $50,000+176.6%Report
Nov 11, 2020Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−178.3%Report
Nov 3, 2020Thomas R. SuozziDemocratic, HouseBuy$15,001 - $50,000−191.6%Report
Apr 22, 2020David RouzerRepublican, HouseBuy$1,001 - $15,000−158.6%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Pinterest Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPINTEREST, INC.2
  • CIK0001506293
  • Employer ID (EIN)26-36071298
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company8
  • Incorporated inDelaware8
  • Fiscal year endsDecember 312
  • Industry code (SIC)7370 Services-Computer Programming, Data Processing, Etc.2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address651 Brannan Street, San Francisco, CA 941072
  • Phone41576271002
  • Shares outstanding585,458,698 Common Class A shares; 79,679,925 Common Class B shares as of Feb 6, 20268
  • Public float$18.7B as of Jun 30, 20258
  • AuditorErnst & Young LLP, San Francisco, California PCAOB ID 42; it also attests to the company’s internal control over financial reporting8
  • On EDGAR sinceDec 2, 20102
  • Filings1,196 in all: 4 (719), 144 (200), 8-K (74), 3 (42), SC 13G/A (33), 10-Q (23), SC 13G (13), 4/A (11)2
    All 31 form types

    3/A (9), DEFA14A (8), S-8 (8), 10-K (7), D (7), DEF 14A (7), SCHEDULE 13G (7), SCHEDULE 13G/A (6), ARS (4), CORRESP (3), S-1/A (2), UPLOAD (2), 144/A (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), DRSLTR (1), EFFECT (1), PRE 14A (1), S-1 (1), S-3ASR (1)

  • Latest filingsAnnual report (10-K) Feb 12, 2026
    Quarterly report (10-Q) Aug 4, 2026
    Proxy statement (DEF 14A) Apr 8, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Stock, $0.00001 par valuePINSNew York Stock Exchange

From the cover page of the 10-K filed Feb 12, 2026 (Section 12(b) of the Exchange Act).8

Risk factors and legal proceedings

The risks Pinterest Inc. names in Item 1A of its 10-K filed Feb 12, 2026: 46 risks under these headings, as written.8

  • 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 ecosystem of users and advertisers depends on our ability to attract, retain and engage our user base. If we fail to add new users or retain or recover users, or if users 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 users’ personal taste and interests or fail to take appropriate action on 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.
  • We may be unable to compete effectively for users.
  • We may be unable to compete effectively for advertisers.
  • We may not be able to develop effective products and tools for advertisers.
  • 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 users or generate revenue.
  • We continue to develop our international growth strategy and may not succeed in further expanding and monetizing our platform internationally and may be subject to increased international business and economic risks.
  • We may not be able to effectively manage the growth of our business.
  • We make decisions consistent with our mission and values that may reduce our short- or medium-term operating results.
  • We may not successfully execute or achieve the expected benefits of our restructuring plan, which could adversely affect our business.
  • We may acquire other businesses, talent or technology, which could require significant management attention, disrupt our business and dilute stockholder value.
The other 34 risks
  • 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 could be impaired.
  • Continued development and use of AI may result in reputational harm, liability, or other adverse consequences to our business operations.
  • If our security is compromised, or users or advertisers believe our security has been compromised, we could lose the trust of users, creators, publishers and advertisers who may use our platform less or may stop using our platform altogether, our reputation and business could be harmed.
  • Our ability to attract and retain advertisers depends on our ability to collect, process and use data and develop tools to enable us to effectively deliver and accurately measure advertisements on our platform.
  • 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.
  • Our business depends on our ability to maintain and scale our technology infrastructure, including speed and availability of our service.
  • The failure to attract and retain highly qualified personnel, or loss of one or more of our key personnel, could harm our business, revenue and financial results.
  • We depend in part on online application stores and internet search engines to direct traffic and refer new users to our platform. When these online application stores or search engines’ methodologies and policies are modified or enforced in ways we do not anticipate, or when our search results page rankings decline for other reasons, traffic to our platform or user growth, retention and engagement has declined and could decline in the future.
  • 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 retention, growth or engagement could decline.
  • 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.
  • We must effectively operate with mobile operating systems, web browsers, online application stores, 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 user retention, growth and engagement.
  • We rely on software, technologies and related services from third parties, and problems in their use, access or performance could increase our costs.
  • Technologies have been developed that can block the display of our ads.
  • We may be liable as a result of content or information that is published or made available on our platform.
  • Government actions can restrict access to our product or certain of our products in their countries.
  • We could become involved in legal 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.
  • 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.
  • The interpretation and application of 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 have incurred operating losses in the past, anticipate increasing our costs and expenses, may incur operating losses in the future and may not maintain profitability.
  • Our operating results are likely to fluctuate from quarter to quarter, which makes them difficult to predict.
  • User 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.
  • Our operations and financial condition could be adversely impacted if we are unable to obtain additional financing, if needed, or if we default on our credit obligations.
  • 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.
  • We cannot guarantee that our stock repurchase program will be fully consummated or that it will enhance long-term stockholder value.
  • 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.
  • The trading price of our Class A common stock has been and may continue to be volatile, and you could lose all or part of your investment.
  • Future offerings of debt or equity securities by us or existing stockholders 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.
  • 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.

Legal proceedings

We are currently involved in, and may in the future be involved in, actual and threatened legal proceedings, claims, investigations and government inquiries arising in the ordinary course of our business, including legal proceedings, claims, investigations and government inquiries involving intellectual property, data privacy and data protection, privacy and other torts, illegal or objectionable content, consumer protection, securities, corporate governance, employment, workplace culture, contractual rights, civil rights infringement, false or misleading advertising or other legal claims relating to content or information that is provided to us or published or made available on our service. This risk is enhanced in certain jurisdictions outside of the U.S. where our protection from liability for content published on our platform by third parties may be unclear and where we may be less protected under local laws than we are in the U.S.

For information on certain litigation we are involved in, see "Legal Matters" in Note 6 of the accompanying notes to our consolidated financial statements, which is incorporated herein by reference.

Although the results of the actual and threatened legal proceedings, claims, investigations and government inquiries in which we currently are involved cannot be predicted with certainty, we do not believe that there is a reasonable possibility that the final outcome of these matters will have a material adverse effect on our business or financial results. Regardless of the final outcome, however, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources, harm to our reputation and brand and other factors.

The opening of Item 3, Legal Proceedings.8

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