Pinterest, Inc. released its financial results for the three months and the full year ending on December 31, 2021. The company took significant strides with core technology to enable a video-first publishing platform. Ben Silbermann, the CEO, and Co-founder of Pinterest said he felt delighted at topping $2 billion in sales for the year for the first time. It indicates 52% of year-over-year growth while achieving the first full year of GAAP profitability.
He also said that if Pinterest has to be the go-to website for action and inspiration online, then the company has to scale up commercial investments. It will accelerate Idea Pins via initiatives for creator-led content while enhancing its core Pinner experiences and purchases.
Revenue for Q1 may increase sizably as well, with the company anticipating approximately 10% as its quarterly non-GAAP operational expenditure increase for the period. It will ramp up expenditure on native content ecosystems with recruitment in the sales, marketing, and R&D divisions. Non-GAAP operating costs may increase by approximately 40% for the year.
MAUs in the United States was roughly 86.6 million as of February 1, 2022**, while MAUs worldwide stood at approximately 436.8 million***.
Creator-led and inspirational content, shopping, the Pinner experience, and advertiser performance are the company’s top strategic targets for 2022. It will expand the ecosystem for native content, anticipating that research and development initiatives will keep concentrating on commerce, Pinner products, ad products, and measurement investments. Additionally, in order to finance its strategic ambitions, the company plans to hire more staff. These expenditures will foster long-term expansion and continue to provide the groundwork for a scalable company over time.
Due to the uncertainty and potential fluctuations of reconciling factors like share-based compensation expense, the company has not included the forward-looking GAAP equivalents for certain forward-looking non-GAAP operating expenses. Therefore, it is impossible to reconcile these non-GAAP guidance figures to their comparable GAAP equivalents without strenuous efforts. The company also believes that any offered reconciliations would imply a level of precision that could confuse or mislead investors. It is critical to emphasize that significant changes to reconciling items could affect future GAAP results.
February 1, 2022, is the updated version’s date for monthly active users (from February 1, 2021, earlier). Results, trends, and prognosis for the first quarter of 2022 are provisional, subject to change, and may not represent future performance.