Pinterest posted solid results for Q1 2026, adding 12 million more users over last quarter, with 18% year-over-year revenue growth, as the company continued to solidify its place as a key product discovery platform.
First, on users. Pinterest now has 631 million monthly actives, up from 570 million in Q1 2025. The company said its user numbers were rounded, so geographic breakdown may not add up to total global figures.
Pinterest continues to expand its global usage, with the vast majority of its user growth coming in the “Rest of World” category on this chart. Comparatively, Pinterest added a much less impressive million more users in both the U.S. and EU within the first three months of the year.
To be clear, growth is growth, and adding 12 million new users is significant either way. But Pinterest earns a lot more money from the U.S. and EU, which are its key markets, as opposed to developing regions, where the platform is gaining traction.
As evidenced by these charts, Pinterest’s year-over-year revenue per user is increasing, but this metric actually declined in every region in Q1 on a quarterly comparison.
Pinterest’s revenue also declined in comparison to Q3 (Q4 always sees stronger results), though it remained above $1 billion for the first quarter of 2026.
Pinterest said that on a constant currency basis, revenue would have grown 15% year over year, while Pinterest CEO Bill Ready said on a call with analysts that the company’s first quarter numbers were stronger than expected.
Ready also noted the development of Pinterest’s artificial intelligence-powered discovery graph, which is driving stronger engagement.
As per Ready: “Ten straight quarters of double-digit user growth are the direct result of multi-year investments in AI and improving personalization and curation within visual search and discovery. At the center of this is our Taste Graph which captures visual intent and curation signal built on hundreds of billions of user interactions over a decade.”
Ready also said that the performance of its AI-powered Performance+ ads is improving, with advertisers that use Performance+ seeing higher ROAS and improvements in CPA and CPC compared to business-as-usual campaigns.
In addition, Julia Donnelly, the company’s chief financial officer, said on the earnings call that ad impressions grew 24% in Q1. Meanwhile, she said ad pricing declined 5% year-over-year, “primarily driven by lapping the initial ramp of monetization in previously undermonetized markets, including from resellers and Rest of World, which had contributed to outsized impression growth the prior year.”
Expanding its revenue in markets beyond the U.S. and EU remains a key focus. Donnelly said the company planned to expand its revenue base around the world with the appointment of a new, as-yet-unnamed head of international growth, tasked with driving new opportunities.
Donnelly also discussed the ongoing impacts of world events.
“We’re still significantly under-monetized internationally relative to the strength of engagement and commercial intent we see on the platform,” Donnelly said. “Our long-term conviction in the opportunity in international is unchanged and we think the changes that we’re making now best position us to fully capture that opportunity over time.”
Overall, Pinterest’s growth in more regions should present more revenue potential over time, if the platform can boost its ad take-up in these regions.
