PINTEREST, INC. Earnings Per Share Disclosure
| Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||
| Class A | Class B | Class A | Class B | Class A | Class B | |||||||||||||||||||||||||||||||||
| Basic net income (loss) per share: | ||||||||||||||||||||||||||||||||||||||
Numerator: | ||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 366,667 | $ | 50,188 | $ | 1,633,901 | $ | 228,205 | $ | (30,937) | $ | (4,673) | ||||||||||||||||||||||||||
Denominator: | ||||||||||||||||||||||||||||||||||||||
Weighted-average shares used in computing net income (loss) per share, basic | 593,473 | 81,233 | 595,639 | 83,192 | 586,109 | 88,532 | ||||||||||||||||||||||||||||||||
Basic net income (loss) per share | $ | 0.62 | $ | 0.62 | $ | 2.74 | $ | 2.74 | $ | (0.05) | $ | (0.05) | ||||||||||||||||||||||||||
Diluted net income (loss) per share: | ||||||||||||||||||||||||||||||||||||||
Numerator: | ||||||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 366,667 | $ | 50,188 | $ | 1,633,901 | $ | 228,205 | $ | (30,937) | $ | (4,673) | ||||||||||||||||||||||||||
Reallocation of net income as a result of conversion of Class B to Class A common stock | 50,188 | — | 228,205 | — | — | — | ||||||||||||||||||||||||||||||||
Reallocation of net income to Class B common stock | — | (953) | — | (6,387) | — | — | ||||||||||||||||||||||||||||||||
Diluted net income (loss) | $ | 416,855 | $ | 49,235 | $ | 1,862,106 | $ | 221,818 | $ | (30,937) | $ | (4,673) | ||||||||||||||||||||||||||
Denominator: | ||||||||||||||||||||||||||||||||||||||
Weighted-average shares used in computing net income (loss) per share, basic | 593,473 | 81,233 | 595,639 | 83,192 | 586,109 | 88,532 | ||||||||||||||||||||||||||||||||
Conversion of Class B to Class A common stock | 81,233 | — | 83,192 | — | — | — | ||||||||||||||||||||||||||||||||
Weighted average effect of dilutive potential common stock | 13,065 | — | 19,545 | — | — | — | ||||||||||||||||||||||||||||||||
Weighted-average shares used in computing net income (loss) per share, diluted | 687,771 | 81,233 | 698,376 | 83,192 | 586,109 | 88,532 | ||||||||||||||||||||||||||||||||
Diluted net income (loss) per share | $ | 0.61 | $ | 0.61 | $ | 2.67 | $ | 2.67 | $ | (0.05) | $ | (0.05) | ||||||||||||||||||||||||||
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Outstanding stock options | — | — | 14,463 | ||||||||||||||
| Unvested restricted stock units and restricted stock awards | 13,391 | 7,980 | 53,228 | ||||||||||||||
Total | 13,391 | 7,980 | 67,691 | ||||||||||||||
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About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.