PINS FY 2021 Earnings Report — Pinterest, Inc. Revenue & Financial Results | Market Cap Arena

Pinterest, Inc.PINS

FY 2021 Earnings

Reported February 3, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$2.6B	—	$1.7B	—	52.3%
Op. Income	$326M	—	-$143M	—	328.9%
Gross Margin	79.5%	—	73.5%	—	6.0pp
Net Margin	12.3%	—	-7.6%	—	19.9pp
EPS (Diluted)	$0.41	—	$-0.22	—	286.4%
Free Cash Flow	$744M	—	$11M	—	6410.9%

Revenue Flow

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$529M
GROSS PROFIT	$2.0B
R&D Expenses	$780M
Selling & Marketing	$641M
General & Administrative	$301M
SG&A Expenses	$942M
Other Expenses	$0
Operating Expenses	$1.7B
Cost & Expenses	$2.3B
OPERATING INCOME	$326M
Interest Income	$4M
Interest Expense	$9M
Other Income/Expenses	-$5M
INCOME BEFORE TAX	$321M
Income Tax Expense	$5M
Net Income from Continuing Ops	$316M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$316M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$316M
D&A	$28M
EBIT	$326M
EBITDA	$354M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$529M
GROSS PROFIT	$2.0B
R&D Expenses	$780M
Selling & Marketing	$641M
General & Administrative	$301M
SG&A Expenses	$942M
Other Expenses	$0
Operating Expenses	$1.7B
Cost & Expenses	$2.3B
OPERATING INCOME	$326M
Interest Income	$4M
Interest Expense	$9M
Other Income/Expenses	-$5M
INCOME BEFORE TAX	$321M
Income Tax Expense	$5M
Net Income from Continuing Ops	$316M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$316M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$316M
D&A	$28M
EBIT	$326M
EBITDA	$354M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$316M
Depreciation & Amortization	$28M
Stock-Based Compensation	$415M
Deferred Income Tax	$0
Other Non-Cash Items	$55M
Change in Working Capital	-$61M
OPERATING CASH FLOW	$753M
Capital Expenditure	-$9M
Acquisitions (Net)	-$37M
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$1.1B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$26M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$2M
NET CASH FROM FINANCING	$22M
FREE CASH FLOW	$744M
Net Change in Cash	$748M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.4B
Short-Term Investments	$1.1B
Net Receivables	$653M
Inventory	$0
Other Current Assets	$47M
TOTAL CURRENT ASSETS	$3.2B
PP&E (Net)	$281M
Goodwill	$40M
Intangible Assets	$21M
Long-Term Investments	$6M
Tax Assets	$0
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$356M
TOTAL ASSETS	$3.5B
Account Payables	$18M
Short-Term Debt	$42M
Deferred Revenue	$0
Other Current Liabilities	$163M
TOTAL CURRENT LIABILITIES	$260M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$30M
TOTAL NON-CURRENT LIABILITIES	$239M
TOTAL LIABILITIES	$498M
Common Stock	$7.0K
Additional Paid-In Capital	$5.1B
Retained Earnings	-$2.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$3.5B
Total Debt	$251M
Net Debt	-$1.2B