PINS — what changed in the latest 10-Q
A section-by-section comparison of PINS's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-04 vs the prior 10-Q · 2026-05-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +24 | −28 | ~17 | 49 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~3 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 2 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 2 |
| Risk factors | Text added/removed | +12 | −9 | ~22 | 305 |
| Other information | Text added/removed | +3 | −3 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-04
(1)Excludes share-based compensation expense of $4.8 million and $14.1 million, and amortization expense of $1.6 million and $2.9 million for the three and six months ended June 30, 2026, respectively included in restructuring charges.
Income (loss) before provision for (benefit from) income taxes(4)3 (5)2
Revenue for the three and six months ended June 30, 2026 increased by $181.4 million and $334.0 million, respectively, compared to the three and six months ended June 30, 2025 primarily due to growth from our conversion and consideration objectives. Revenue increased 18% on a reported and 17% and 16…
Revenue based on our estimate of the geographic location of our users increased by 18% and 16% in U.S. and Canada to $879.9 million and $1,630.3 million, Europe revenue increased by 12% and 18% to $212.7 million and $398.3 million, and Rest of World revenue increased by 38% and 47% to $87.0 million …
Cost of revenue for the three and six months ended June 30, 2026 increased by $54.3 million and $93.6 million, respectively, compared to the three and six months ended June 30, 2025 primarily due to increased users and engagement.
Text removed vs the prior filing · source: 10-Q · 2026-05-04
In January 2026, we initiated a global restructuring plan (the “Restructuring Plan”) to support our transformation initiatives, including but not limited to (i) reallocating resources to AI-focused roles and teams that drive AI adoption and execution, (ii) prioritizing AI‑powered products and capabi…
As part of the Restructuring Plan, we commenced a workforce reduction of less than 15% as well as office space reductions.
Restructuring charges during the three months ended March 31, 2026 were as follows (in thousands):
Severance and Other Personnel CostsShare Based CompensationOffice Space ReductionsTotal
We expect to incur total charges of $59.6 million to $69.6 million under the Restructuring Plan, including additional charges of $12.5 million to $22.5 million, which we expect to incur through the end of the third quarter of 2026. We will record additional charges under the Restructuring Plan as in…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-08-04
Many existing advertiser tools that measure the effectiveness of advertising do not account for the role of advertising early in a user's decision-making process, which is when many users come to our platform. Instead, these tools measure the last ad or content that was exposed to the user that gets…
We have incurred significant net losses in the past and generated net income only recently, and may continue to generate operating losses in the future. We generated net loss of $120.3 million and net income of $47.7 million for
the six months ended June 30, 2026 and 2025, respectively. As of June 30, 2026, we had retained earnings of $8.4 million. We may not realize sufficient revenue to achieve profitability in future periods.
We may also enter into derivative share repurchase agreements from time to time that impose potential liabilities on the company.
As a result, for the foreseeable future, holders of our Class B common stock could have significant influence over the management and affairs of our company and over the outcome of all matters submitted to our stockholders for approval, including the election of directors and significant corporate t…
Text removed vs the prior filing · source: 10-Q · 2026-05-04
Many existing advertiser tools that measure the effectiveness of advertising do not account for the role of advertising early in a user's decision-making process, which is when many users come to our platform. Instead, these tools
measure the last ad or content that was exposed to the user that gets credit for influencing any user’s purchase or action. As a result, we may not be able to demonstrate and measure for our advertisers the value of engaging with a user during the early intent phase.
We have incurred significant net losses in the past and generated net income only recently. We generated net loss of $73.6 million and net income of $8.9 million for the three months ended March 31, 2026 and 2025, respectively. As of
March 31, 2026, we had retained earnings of $55.1 million. We have achieved profitability only recently and may not realize sufficient revenue to maintain profitability in future periods.
We may also enter into derivative share repurchase agreements from time to time that impose potential liabilities on the company. For example, the company entered into accelerated share repurchase agreements in March 2026, under which the company may be obligated to deliver shares of our Class A com…
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-04
On May 11, 2026, Lee Brown, our Chief Business Officer, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell, between August 11, 2026 and April 30, 2027 up to 50% of net shares of our Class A common stock to be issued to Mr. Brown after the satisfaction of applicable taxes following the…
On May 7, 2026, Julia Brau Donnelly, our Chief Financial Officer, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell between August 7, 2026 and June 30, 2027, (i) 29,548 shares of our Class A common stock and (ii) up to the net shares of our Class A common stock to be issued to Ms. Do…
On June 12, 2026, Matthew Madrigal, our Chief Technology Officer, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell, between September 16, 2026 and January 15, 2027, up to 121,000 shares of our Class A common stock.
Text removed vs the prior filing · source: 10-Q · 2026-05-04
On February 26, 2026, Wanji Walcott, our Chief Legal and Business Affairs Officer, (a) terminated a trading plan that was adopted on August 12, 2025, and intended to satisfy Rule 10b5-1(c) under the Exchange Act, as amended ("Rule 10b5-1(c)"), to sell between November 11, 2025, and December 23, 2026…
On February 27, 2026, Benjamin Silbermann, our Co-Founder and Non-Executive Chair of the Board of Directors, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell, between May 29, 2026, and May 28, 2027, up to 4,500,000 shares of our Class A common stock.
On March 5, 2026, Andrea Acosta, our Chief Accounting Officer, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell between June 5, 2026 and March 24, 2027, (i) 5,891 shares of our Class A common stock and (ii) up to the net shares of our Class A common stock to be issued to Ms. Acosta …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice