Want to see PINS full AI Analyst Report?
Operating Expense Breakdown
Shows how Pinterest allocates spending across areas like product development, marketing, and general administration, revealing whether the company is investing to grow users and features or cutting costs to protect margins and cash flow.R&D and Sales & Marketing are the clear drivers of Pinterest’s rising cost base — a sustained, purposeful ramp tied to AI/GPU build‑out and the TV Scientific acquisition — while G&A is lumpier but not the main growth lever. Management’s call confirms these are investments to convert engagement into higher advertiser ROI (and hence revenue), accepting near‑term margin pressure (and seasonal S&M spikes) in pursuit of higher long‑term monetization and free‑cash‑flow per share, helped by aggressive buybacks.
Date | Sales and Marketing | Research and Development | General and Administrative |
|---|---|---|---|
Jun 30, 2026 | $374.27M | $451.01M | $137.88M |
Mar 31, 2026 | $317.85M | $380.79M | $103.52M |
Dec 31, 2025 | $303.03M | $364.90M | $123.32M |
Sep 30, 2025 | $296.68M | $371.25M | $110.43M |
Jun 30, 2025 | $313.07M | $359.62M | $126.85M |
Mar 31, 2025 | $253.92M | $331.67M | $105.61M |
Dec 31, 2024 | $271.10M | $320.77M | $103.72M |
Sep 30, 2024 | $249.03M | $326.68M | $141.12M |
Jun 30, 2024 | $265.35M | $312.84M | $112.07M |
Mar 31, 2024 | $226.29M | $280.27M | $106.74M |