Pinterest, Inc.

Visual discovery: 619M MAUs (YE’25) search and save Pins on an AI-powered Taste Graph (>80B monthly searches); substantially all revenue is advertising — FY’25 $4.22B (+16%), Adj. EBITDA $1.27B, FCF $1.25B — with shopping/catalog ads + Performance+ automation converting commercial intent, while US & Canada ARPU ($30.84) still dwarfs Rest of World ($0.83) despite RoW holding most users.

Click any of the 9 blocks below for a plain-language story of how that part of the model works for Pinterest — and how it connects to the others.