AcquisitionsMay 4, 2026, 04:24 PM
Pinterest Acquires tvScientific, Issues $1B Notes, Reports $73.6M Loss
AI Summary
Pinterest, Inc. reported a net loss of $73.6 million for the three months ended March 31, 2026, a significant decline from a net income of $8.9 million in the prior year, despite revenue increasing to $1.01 billion. The company completed the acquisition of tvScientific for $465.1 million and issued $1.0 billion in convertible senior notes. Pinterest also executed substantial share repurchases totaling $1.95 billion during the quarter, contributing to a decrease in cash and cash equivalents.
Key Highlights
- Acquired tvScientific, Inc. for $465.1 million, extending AI-powered advertising.
- Issued $1.0 billion in 1.75% convertible senior notes due March 1, 2031.
- Reported Q1 2026 net loss of $73.6 million, compared to $8.9 million net income YoY.
- Q1 2026 revenue rose to $1.01 billion, up from $855.0 million in Q1 2025.
- Basic loss per share was $0.12 in Q1 2026, versus $0.01 basic EPS YoY.
- Repurchased $1.95 billion of Class A common stock during Q1 2026.
- Incurred $47.1 million in restructuring costs in the quarter.
- Cash and cash equivalents decreased to $378.1 million from $969.3 million.