Pinterest (PINS) 10-Q 6 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	Apr. 30, 2020
Document Information [Line Items]
Document Type	10-Q
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Entity File Number	001-38872
Entity Registrant Name	Pinterest, Inc.
Entity Central Index Key	0001506293
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-3607129
Entity Address, Address Line One	505 Brannan Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94107
City Area Code	415
Local Phone Number	762-7100
Title of 12(b) Security	Class A Common Stock, $0.00001 par value
Trading Symbol	PINS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		403,489,955
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		182,966,393

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 740,833	$ 649,666
Marketable securities	995,875	1,063,679
Accounts receivable, net of allowances of $5,889 and $2,851 as of March 31, 2020 and December 31, 2019, respectively	212,215	316,367
Prepaid expenses and other current assets	32,565	37,522
Total current assets	1,981,488	2,067,234
Property and equipment, net	90,357	91,992
Operating lease right-of-use assets	172,927	188,251
Goodwill and intangible assets, net	14,319	14,576
Restricted cash	23,791	25,339
Other assets	5,730	5,925
Total assets	2,288,612	2,393,317
Current liabilities:
Accounts payable	37,749	34,334
Accrued expenses and other current liabilities	133,050	141,823
Total current liabilities	170,799	176,157
Operating lease liabilities	158,298	173,392
Other liabilities	21,035	20,063
Total liabilities	350,132	369,612
Commitments and contingencies
Stockholders’ equity:
Common stock	6	6
Additional paid-in capital	4,288,603	4,229,778
Accumulated other comprehensive income (loss)	(2,207)	647
Accumulated deficit	(2,347,922)	(2,206,726)
Total stockholders’ equity	1,938,480	2,023,705
Total liabilities and stockholders’ equity	$ 2,288,612	$ 2,393,317

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Allowances	$ 5,889	$ 2,851
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	6,666,667,000	6,666,667,000
Common stock, shares issued (in shares)	398,929,000	360,850,000
Common stock, shares outstanding (in shares)	398,929,000	360,850,000
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	1,333,333,000	1,333,333,000
Common stock, shares issued (in shares)	182,911,000	209,054,000
Common stock, shares outstanding (in shares)	182,911,000	209,054,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue	$ 271,940	$ 201,911
Costs and expenses:
Cost of revenue	99,232	73,694
Research and development	145,704	72,444
Sales and marketing	117,027	76,394
General and administrative	56,067	24,205
Total costs and expenses	418,030	246,737
Loss from operations	(146,090)	(44,826)
Interest income	7,151	4,059
Interest expense and other income (expense), net	(2,077)	(500)
Loss before provision for income taxes	(141,016)	(41,267)
Provision for income taxes	180	153
Net loss	$ (141,196)	$ (41,420)
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.25)	$ (0.33)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares)	576,302	127,346

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (141,196)	$ (41,420)
Other comprehensive income (loss), net of taxes:
Change in unrealized gain (loss) on available-for-sale marketable securities	(2,535)	1,189
Change in foreign currency translation adjustment	(319)	1
Comprehensive loss	$ (144,050)	$ (40,230)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance (in shares) at Dec. 31, 2018	308,373
Balance at Dec. 31, 2018	$ 1,465,399
Balance (in shares) at Mar. 31, 2019	308,373
Balance at Mar. 31, 2019	$ 1,465,399
Beginning balance (in shares) at Dec. 31, 2018		127,298
Beginning balance at Dec. 31, 2018	(594,563)	$ 1	$ 252,212	$ (1,421)	$ (845,355)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock for cash upon exercise of stock options, net (in shares)		73
Issuance of common stock for cash upon exercise of stock options, net	110		110
Share-based compensation	694		694
Other comprehensive income (loss)	1,190			1,190
Net loss	(41,420)				(41,420)
Ending balance (in shares) at Mar. 31, 2019		127,371
Ending balance at Mar. 31, 2019	$ (633,989)	$ 1	253,016	(231)	(886,775)
Balance (in shares) at Dec. 31, 2019	0
Balance at Dec. 31, 2019	$ 0
Balance (in shares) at Mar. 31, 2020	0
Balance at Mar. 31, 2020	$ 0
Beginning balance (in shares) at Dec. 31, 2019		569,904
Beginning balance at Dec. 31, 2019	2,023,705	$ 6	4,229,778	647	(2,206,726)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units (in shares)		2,913
Release of restricted stock units	0	$ 0
Shares repurchased for tax withholdings on release of restricted stock units	$ (44,090)		(44,090)
Issuance of common stock for cash upon exercise of stock options, net (in shares)	8,923	8,923
Issuance of common stock for cash upon exercise of stock options, net	$ 20,347		20,347
Issuance of common stock related to charitable contributions (in shares)		100
Issuance of common stock related to charitable contributions	1,544		1,544
Share-based compensation	81,024		81,024
Other comprehensive income (loss)	(2,854)			(2,854)
Net loss	(141,196)				(141,196)
Ending balance (in shares) at Mar. 31, 2020		581,840
Ending balance at Mar. 31, 2020	$ 1,938,480	$ 6	$ 4,288,603	$ (2,207)	$ (2,347,922)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities
Net income (loss)	$ (141,196)	$ (41,420)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	11,746	5,696
Share-based compensation	81,024	694
Other	2,719	(993)
Changes in assets and liabilities:
Accounts receivable	100,991	61,329
Prepaid expenses and other assets	6,624	510
Operating lease right-of-use assets	10,879	6,427
Accounts payable	2,613	7,481
Accrued expenses and other liabilities	(4,905)	(2,024)
Operating lease liabilities	(13,205)	(4,578)
Net cash provided by operating activities	57,290	33,122
Investing activities
Purchases of property and equipment and intangible assets	(7,005)	(3,706)
Purchases of marketable securities	(257,593)	(113,952)
Sales of marketable securities	72,043	28,953
Maturities of marketable securities	250,074	84,883
Other investing activities	316	0
Net cash provided by (used in) investing activities	57,835	(3,822)
Financing activities
Proceeds from exercise of stock options, net	20,347	110
Shares repurchased for tax withholdings on release of restricted stock units	(44,090)	0
Other financing activities	0	(3,279)
Net cash used in financing activities	(23,743)	(3,169)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(214)	8
Net increase in cash, cash equivalents, and restricted cash	91,168	26,139
Cash, cash equivalents, and restricted cash, beginning of period	677,743	135,290
Cash, cash equivalents, and restricted cash, end of period	768,911	161,429
Supplemental cash flow information
Accrued property and equipment	7,831	4,484
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 1,242	$ 22,862

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Reconciliation of cash, cash equivalents and restricted cash to condensed consolidated balance sheets
Cash and cash equivalents	$ 740,833	$ 134,648
Restricted cash included in prepaid expenses and other current assets	4,287	1,057
Restricted cash	23,791	25,724
Total cash, cash equivalents, and restricted cash	$ 768,911	$ 161,429

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Description of Business Pinterest was incorporated in Delaware in 2008 and is headquartered in San Francisco, California. Pinterest is a visual discovery engine that people around the globe use to find the inspiration to create a life they love. We generate revenue by delivering ads on our website and mobile application. Basis of Presentation and Consolidation We prepared the accompanying condensed consolidated financial statements in accordance with generally accepted accounting principles in the United States ("GAAP"). The condensed consolidated financial statements include the accounts of Pinterest, Inc. and its wholly owned subsidiaries. We have eliminated all intercompany balances and transactions. The condensed consolidated balance sheet as of December 31, 2019 included herein was derived from the audited financial statements as of that date. We have condensed or omitted certain information and notes normally included in complete financial statements prepared in accordance with GAAP. As such, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements as of and for the year ended December 31, 2019, which are included in our Annual Report on Form 10-K. In our opinion, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the results for the interim periods presented, but they are not necessarily indicative of the results of operations to be expected for the year ending December 31, 2020. Reclassifications We have reclassified certain amounts in prior periods to conform with current presentation. Use of Estimates Preparing our condensed consolidated financial statements in conformity with GAAP requires us to make estimates and judgments that affect amounts reported in the condensed consolidated financial statements and accompanying notes. We base these estimates and judgments on historical experience and various other assumptions that we consider reasonable. GAAP requires us to make estimates and assumptions in several areas, including the fair values of financial instruments, assets acquired and liabilities assumed through business combinations, common stock prior to our IPO, share-based awards, and contingencies as well as the collectability of our accounts receivable, the useful lives of our intangible assets and property and equipment, the incremental borrowing rate we use to determine our operating lease liabilities, and revenue recognition, among others. Actual results could differ materially from these estimates and judgments. Many of our estimates require increased judgment due to the significant volatility, uncertainty and economic disruption of the recent global COVID-19 pandemic. We will continue to monitor the effects of the COVID-19 pandemic, and our estimates and judgments may change materially as new events occur or additional information becomes available to us. Segments We operate as a single operating segment. Our chief operating decision maker is our Chief Executive Officer, who reviews financial information presented on a consolidated basis, accompanied by disaggregated information about our revenue, for purposes of making operating decisions, assessing financial performance and allocating resources. Revenue Recognition We generate revenue by delivering ads on our website and mobile application. We recognize revenue only after transferring control of promised goods or services to customers, which occurs when a user clicks on an ad contracted on a cost per click (“CPC”) basis, views an ad contracted on a cost per thousand impressions (“CPM”) basis or views a video ad contracted on a cost per view ("CPV") basis. We typically bill customers on a CPC, CPM or CPV basis, and our payment terms vary by customer type and location. The term between billing and payment due dates is not significant. We occasionally offer customers free ad inventory and revenue is recognized only after satisfying our contractual performance obligations. When contracts with our customers contain multiple performance obligations, we allocate the overall transaction price, which is the amount of consideration to which we expect to be entitled in exchange for promised goods or services, to each of the distinct performance obligations based on their relative standalone selling prices. We generally determine standalone selling prices based on the effective price charged per contracted click, impression or view and we do not disclose the value of unsatisfied performance obligations because the original expected duration of our contracts is generally less than one year. We record sales commissions in sales and marketing expense as incurred because we would amortize these over a period of less than one year. Deferred revenue was not material as of March 31, 2020 and 2019. Share-Based Compensation Restricted stock units ("RSUs") granted under our 2009 Stock Plan (the "2009 Plan") are subject to both a service condition, which is typically satisfied over four years, and a performance condition, which was deemed satisfied upon the pricing of our IPO. We did not record any share-based compensation expense for our RSUs prior to our IPO because the performance condition had not yet been satisfied. Upon pricing our IPO, we recorded cumulative share-based compensation expense using the accelerated attribution method for those RSUs granted under our 2009 Plan for which the service condition had been satisfied at that date. We will record the remaining unrecognized share-based compensation expense over the remainder of the requisite service period. RSUs granted under our 2019 Omnibus Incentive Plan (the "2019 Plan") are subject only to a service condition, which is typically satisfied over four years. We record share-based compensation expense for these RSUs on a straight-line basis over the requisite service period. We measure RSUs based on the fair market value of our common stock on the grant date, and we account for forfeitures as they occur. Leases and Operating Lease Incremental Borrowing Rate We lease office space under operating leases with expiration dates through 2033. We determine whether an arrangement constitutes a lease and record lease liabilities and right-of-use assets on our condensed consolidated balance sheets at lease commencement. We measure lease liabilities based on the present value of the total lease payments not yet paid discounted based on the more readily determinable of the rate implicit in the lease or our incremental borrowing rate, which is the estimated rate we would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease. We estimate our incremental borrowing rate based on an analysis of publicly traded debt securities of companies with credit and financial profiles similar to our own. We measure right-of-use assets based on the corresponding lease liability adjusted for (i) payments made to the lessor at or before the commencement date, (ii) initial direct costs we incur and (iii) tenant incentives under the lease. We begin recognizing rent expense when the lessor makes the underlying asset available to us, we do not assume renewals or early terminations unless we are reasonably certain to exercise these options at commencement, and we do not allocate consideration between lease and non-lease components. For short-term leases, we record rent expense in our condensed consolidated statements of operations on a straight-line basis over the lease term and record variable lease payments as incurred. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which requires the measurement and recognition of expected credit losses for financial assets not held at fair value. ASU 2016-13 replaces the existing incurred loss impairment model with a forward-looking expected credit loss model which will result in earlier recognition of credit losses. We adopted ASU 2016-13 as of January 1, 2020, using the modified retrospective method, and while the effects of adoption on our condensed consolidated financial statements were not material, we will continue to monitor the effects of the COVID-19 pandemic on expected credit losses. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which simplifies the accounting for income taxes by removing certain exceptions to the general principles for income taxes. We elected to early adopt ASU 2019-12 effective as of January 1, 2020, and the effects of adoption on our condensed consolidated financial statements were not material.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair values of the financial instruments we measure at fair value on a recurring basis are as follows (in thousands): March 31, 2020 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 310,815 $ — $ — $ 310,815 Commercial paper — 88,923 — 88,923 Marketable securities: Corporate bonds — 418,412 — 418,412 U.S. treasury securities 222,515 — — 222,515 Commercial paper — 159,177 — 159,177 Asset-backed securities — 105,868 — 105,868 Certificates of deposit — 89,903 — 89,903 Prepaid expenses and other current assets: Certificates of deposit — 4,287 — 4,287 Restricted cash: Certificates of deposit $ — $ 23,791 $ — $ 23,791 December 31, 2019 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 214,413 $ — $ — $ 214,413 Commercial paper — 105,354 — 105,354 Corporate bonds — 3,791 — 3,791 Certificates of deposit — 2,914 — 2,914 Marketable securities: Corporate bonds — 450,433 — 450,433 U.S. treasury securities 201,640 — — 201,640 Commercial paper — 196,328 — 196,328 Asset-backed securities — 114,599 — 114,599 Certificates of deposit — 100,679 — 100,679 Prepaid expenses and other current assets: Certificates of deposit — 2,738 — 2,738 Restricted cash: Certificates of deposit $ — $ 25,339 $ — $ 25,339 We classify our marketable securities within Level 1 or Level 2 because we determine their fair values using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Gross unrealized gains and losses on our marketable securities were immaterial in the aggregate as of March 31, 2020 and December 31, 2019. We evaluated all available evidence and did not recognize any allowance for credit losses for our marketable securities as of March 31, 2020 and December 31, 2019. We will continue to monitor the effects of the COVID-19 pandemic on expected credit losses. The fair value of our marketable securities by contractual maturity is as follows (in thousands): March 31, 2020 Due in one year or less $ 721,044 Due after one to five years 274,831 Total $ 995,875 Net realized gains and losses from sales of available-for-sale securities were not material for any period presented.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments In March 2019, we entered into a lease for approximately 490,000 square feet of office space to be constructed near our current headquarters campus in San Francisco, California. Expected delivery of the premises has been delayed, and we currently estimate that commencement and expiration will occur in 2025 and 2035, respectively. We may terminate the lease prior to commencement if certain contingencies are not satisfied. We will be subject to total non-cancelable minimum lease payments of approximately $440.0 million if these contingencies are met, and if the lease commences we will record a right-of-use asset and related lease liability of no more than that amount at lease commencement using our incremental borrowing rate at that date. Legal Matters We are involved in various lawsuits, claims and proceedings that arise in the ordinary course of business. While the results of legal matters are inherently uncertain, we do not believe the ultimate resolution of these matters, either individually or in aggregate, will have a material adverse effect on our business, financial position, results of operations or cash flows. Letters of Credit We had $25.5 million of secured letters of credit outstanding as of March 31, 2020 and December 31, 2019. These primarily relate to our office space leases and are fully collateralized by certificates of deposit which we record in prepaid expenses and other current assets or restricted cash in our condensed consolidated balance sheets based on the term of the remaining restriction.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Equity Incentive Plan In June 2009, our board of directors adopted and approved our 2009 Plan, which provides for the issuance of stock options, restricted stock and RSUs to qualified employees, directors and consultants. Stock options granted under our 2009 Stock Plan have a maximum life of 10 years and an exercise price not less than 100% of the fair market value of our common stock on the date of grant. RSUs granted under our 2009 Plan have a maximum life of seven years. No shares of our common stock were reserved for future issuance under our 2009 Plan as of March 31, 2020. Our 2019 Plan became effective upon closing of our IPO and succeeds our 2009 Plan. Our 2019 Plan provides for the issuance of stock options, restricted stock awards, RSUs and other equity- or cash-based awards to qualified employees, directors and consultants. Stock options granted under our 2019 Plan have a maximum life of 10 years and an exercise price not less than 100% of the fair market value of our common stock on the date of grant. 117,448,816 shares of our Class A common stock were reserved for future issuance under our 2019 Plan as of March 31, 2020. The number of shares of our Class A common stock available for issuance under the 2019 Plan will be increased by the number of shares of our Class B common stock subject to awards outstanding under our 2009 Plan as of the closing of our IPO that would, but for the terms of the 2019 Plan, have returned to the share reserves of the 2009 Plan pursuant to the terms of such awards, including as the result of forfeiture, repurchase, expiration or retention by us in order to satisfy an award’s exercise price or tax withholding obligations. In addition, the number of shares of our Class A common stock reserved for issuance under our 2019 Plan will automatically increase on the first day of each fiscal year, commencing on January 1, 2020 and ending on (and including) January 1, 2029, in an amount equal to 5% of the total number of shares of our Class A common stock and our Class B common stock outstanding on the last day of the calendar month before the date of each automatic increase, or a lesser number of shares determined by our board of directors. Stock Option Activity Stock option activity during the three months ended March 31, 2020, was as follows (in thousands, except per share amounts): Stock Options Outstanding Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (1) (in years) Outstanding as of December 31, 2019 56,966 $ 2.25 3.5 $ 933,299 Granted 1,130 22.35 Exercised (8,923) 2.28 Outstanding as of March 31, 2020 49,173 $ 2.71 3.4 $ 625,770 Exercisable as of March 31, 2020 48,105 $ 2.28 3.3 $ 632,999 (1) We calculate intrinsic value based on the difference between the exercise price of in-the-money-stock options and the fair value of our common stock as of the respective balance sheet date. The total grant-date fair value of stock options vested during the three months ended March 31, 2020 and 2019, was $0.8 million and $0.6 million, respectively. The aggregate intrinsic value of stock options exercised during the three months ended March 31, 2020 and 2019, was $179.1 million and $1.2 million, respectively. The total grant-date fair value of stock options granted during the three months ended March 31, 2020 was not material. No stock options were granted during the three months ended March 31, 2019. Restricted Stock Unit Activity RSU activity during the three months ended March 31, 2020, was as follows (in thousands, except per share amounts): Restricted Stock Units Outstanding Shares Weighted Average Grant Date Fair Value Outstanding as of December 31, 2019 56,791 $ 20.19 Granted 4,853 22.02 Released (5,296) 19.04 Forfeited (2,643) 19.20 Outstanding as of March 31, 2020 53,705 $ 20.51 Share-Based Compensation Share-based compensation expense during the three months ended March 31, 2020 and 2019, was as follows (in thousands): Three Months Ended March 31, 2020 2019 Cost of revenue $ 1,426 $ 15 Research and development 48,906 626 Sales and marketing 13,919 29 General and administrative 16,773 24 Total share-based compensation $ 81,024 $ 694 As of March 31, 2020, we had $623.0 million of unrecognized share-based compensation expense, which we expect to recognize over a weighted-average period of 3.1 years.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders We present net loss per share attributable to common stockholders in conformity with the two-class method required for participating securities, and we consider all series of our redeemable convertible preferred stock participating securities. We have not allocated net loss attributable to common stockholders to our redeemable convertible preferred stock because the holders of our redeemable convertible preferred stock are not contractually obligated to share in our losses. We calculate basic net loss per share attributable to common stockholders by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share attributable to common stockholders gives effect to all potential shares of common stock, including common stock issuable upon conversion of our redeemable convertible preferred stock and redeemable convertible preferred stock warrants, stock options, RSUs and common stock warrants to the extent these are dilutive. We calculated basic and diluted net loss per share attributable to common stockholders as follows (in thousands, except per share amounts): Three Months Ended March 31, 2020 2019 Class A Class B Common Numerator: Net loss attributable to common stockholders $ (93,363) $ (47,833) $ (41,420) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 381,068 195,234 127,346 Net loss per share attributable to common stockholders, basic and diluted $ (0.25) $ (0.25) $ (0.33) Basic net loss per share is the same as diluted net loss per share because we reported net losses for all periods presented. We excluded the following weighted-average potential shares of common stock from our calculation of diluted net loss per share attributable to common stockholders because these would be anti-dilutive (in thousands): Three Months Ended March 31, 2020 2019 Redeemable convertible preferred stock — 308,373 Outstanding stock options 52,581 76,584 Unvested restricted stock units 56,412 81,498 Redeemable convertible preferred stock warrants — 249 Total 108,993 466,704

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We determine our income tax provision for interim periods using an estimate of our annual effective tax rate adjusted for discrete items occurring during the periods presented. The primary difference between our effective tax rate and the federal statutory rate is the full valuation allowance we have established on our federal, state and foreign net operating losses and credits. Income taxes from international operations are not material for the three months ended March 31, 2020 and 2019. On June 7, 2019, a three-judge panel from the U.S. Court of Appeals for the Ninth Circuit overturned the U.S. Tax Court's decision in Altera Corp. v. Commissioner and upheld the portion of the Treasury regulations under Section 482 of the Internal Revenue Code that requires related parties in a cost-sharing arrangement to share expenses related to share-based compensation. As a result of this decision, our gross unrecognized tax benefits increased to reflect the impact of including share-based compensation in cost-sharing arrangements. Recognizing our gross unrecognized tax benefits would not affect our effective tax rate as their recognition would be offset by the reversal of the related deferred tax assets, which are subject to a full valuation allowance. On July 22, 2019, the taxpayer filed a petition for a rehearing before the full Ninth Circuit and the request was denied on November 12, 2019. On February 10, 2020, the taxpayer filed a petition to appeal the decision to the Supreme Court. We will continue to monitor future developments and their potential effects on our condensed consolidated financial statements.

Geographical Information

Geographical Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Geographical Information	Geographical Information Revenue disaggregated by geography based on our customers’ billing addresses is as follows (in thousands): Three Months Ended March 31, 2020 2019 United States $ 234,950 $ 181,762 International (1) 36,990 20,149 Total revenue $ 271,940 $ 201,911 (1) No individual country other than the United States exceeded 10% of our total revenue for any period presented. Property and equipment, net and operating lease right-of-use assets by geography is as follows (in thousands): March 31, December 31, 2020 2019 United States $ 249,261 $ 266,763 International (1) 14,023 13,480 Total property and equipment, net and operating lease right-of-use assets $ 263,284 $ 280,243 (1) No individual country other than the United States exceeded 10% of our total property and equipment, net and operating lease right-of-use assets for any period presented.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn April 7, 2020, we granted 19,431,808 RSU and Restricted Stock Awards with an aggregate grant-date fair value of $292.6 million, which we expect to recognize as share-based compensation expense over a weighted-average period of 3.9 years.

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	We prepared the accompanying condensed consolidated financial statements in accordance with generally accepted accounting principles in the United States ("GAAP"). The condensed consolidated financial statements include the accounts of Pinterest, Inc. and its wholly owned subsidiaries. We have eliminated all intercompany balances and transactions. The condensed consolidated balance sheet as of December 31, 2019 included herein was derived from the audited financial statements as of that date. We have condensed or omitted certain information and notes normally included in complete financial statements prepared in accordance with GAAP. As such, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements as of and for the year ended December 31, 2019, which are included in our Annual Report on Form 10-K. In our opinion, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the results for the interim periods presented, but they are not necessarily indicative of the results of operations to be expected for the year ending December 31, 2020.
Consolidation	We prepared the accompanying condensed consolidated financial statements in accordance with generally accepted accounting principles in the United States ("GAAP"). The condensed consolidated financial statements include the accounts of Pinterest, Inc. and its wholly owned subsidiaries. We have eliminated all intercompany balances and transactions. The condensed consolidated balance sheet as of December 31, 2019 included herein was derived from the audited financial statements as of that date. We have condensed or omitted certain information and notes normally included in complete financial statements prepared in accordance with GAAP. As such, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements as of and for the year ended December 31, 2019, which are included in our Annual Report on Form 10-K. In our opinion, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the results for the interim periods presented, but they are not necessarily indicative of the results of operations to be expected for the year ending December 31, 2020.
Reclassifications	We have reclassified certain amounts in prior periods to conform with current presentation.
Use of Estimates	Preparing our condensed consolidated financial statements in conformity with GAAP requires us to make estimates and judgments that affect amounts reported in the condensed consolidated financial statements and accompanying notes. We base these estimates and judgments on historical experience and various other assumptions that we consider reasonable. GAAP requires us to make estimates and assumptions in several areas, including the fair values of financial instruments, assets acquired and liabilities assumed through business combinations, common stock prior to our IPO, share-based awards, and contingencies as well as the collectability of our accounts receivable, the useful lives of our intangible assets and property and equipment, the incremental borrowing rate we use to determine our operating lease liabilities, and revenue recognition, among others. Actual results could differ materially from these estimates and judgments. Many of our estimates require increased judgment due to the significant volatility, uncertainty and economic disruption of the recent global COVID-19 pandemic. We will continue to monitor the effects of the COVID-19 pandemic, and our estimates and judgments may change materially as new events occur or additional information becomes available to us.
Segments	We operate as a single operating segment. Our chief operating decision maker is our Chief Executive Officer, who reviews financial information presented on a consolidated basis, accompanied by disaggregated information about our revenue, for purposes of making operating decisions, assessing financial performance and allocating resources.
Revenue Recognition	We generate revenue by delivering ads on our website and mobile application. We recognize revenue only after transferring control of promised goods or services to customers, which occurs when a user clicks on an ad contracted on a cost per click (“CPC”) basis, views an ad contracted on a cost per thousand impressions (“CPM”) basis or views a video ad contracted on a cost per view ("CPV") basis. We typically bill customers on a CPC, CPM or CPV basis, and our payment terms vary by customer type and location. The term between billing and payment due dates is not significant. We occasionally offer customers free ad inventory and revenue is recognized only after satisfying our contractual performance obligations. When contracts with our customers contain multiple performance obligations, we allocate the overall transaction price, which is the amount of consideration to which we expect to be entitled in exchange for promised goods or services, to each of the distinct performance obligations based on their relative standalone selling prices. We generally determine standalone selling prices based on the effective price charged per contracted click, impression or view and we do not disclose the value of unsatisfied performance obligations because the original expected duration of our contracts is generally less than one year.
Share-Based Compensation	Restricted stock units ("RSUs") granted under our 2009 Stock Plan (the "2009 Plan") are subject to both a service condition, which is typically satisfied over four years, and a performance condition, which was deemed satisfied upon the pricing of our IPO. We did not record any share-based compensation expense for our RSUs prior to our IPO because the performance condition had not yet been satisfied. Upon pricing our IPO, we recorded cumulative share-based compensation expense using the accelerated attribution method for those RSUs granted under our 2009 Plan for which the service condition had been satisfied at that date. We will record the remaining unrecognized share-based compensation expense over the remainder of the requisite service period. RSUs granted under our 2019 Omnibus Incentive Plan (the "2019 Plan") are subject only to a service condition, which is typically satisfied over four years. We record share-based compensation expense for these RSUs on a straight-line basis over the requisite service period. We measure RSUs based on the fair market value of our common stock on the grant date, and we account for forfeitures as they occur.
Leases and Operating Lease Incremental Borrowing Rate	We lease office space under operating leases with expiration dates through 2033. We determine whether an arrangement constitutes a lease and record lease liabilities and right-of-use assets on our condensed consolidated balance sheets at lease commencement. We measure lease liabilities based on the present value of the total lease payments not yet paid discounted based on the more readily determinable of the rate implicit in the lease or our incremental borrowing rate, which is the estimated rate we would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease. We estimate our incremental borrowing rate based on an analysis of publicly traded debt securities of companies with credit and financial profiles similar to our own. We measure right-of-use assets based on the corresponding lease liability adjusted for (i) payments made to the lessor at or before the commencement date, (ii) initial direct costs we incur and (iii) tenant incentives under the lease. We begin recognizing rent expense when the lessor makes the underlying asset available to us, we do not assume renewals or early terminations unless we are reasonably certain to exercise these options at commencement, and we do not allocate consideration between lease and non-lease components. For short-term leases, we record rent expense in our condensed consolidated statements of operations on a straight-line basis over the lease term and record variable lease payments as incurred.
Recently Adopted Accounting Pronouncement	In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which requires the measurement and recognition of expected credit losses for financial assets not held at fair value. ASU 2016-13 replaces the existing incurred loss impairment model with a forward-looking expected credit loss model which will result in earlier recognition of credit losses. We adopted ASU 2016-13 as of January 1, 2020, using the modified retrospective method, and while the effects of adoption on our condensed consolidated financial statements were not material, we will continue to monitor the effects of the COVID-19 pandemic on expected credit losses. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which simplifies the accounting for income taxes by removing certain exceptions to the general principles for income taxes. We elected to early adopt ASU 2019-12 effective as of January 1, 2020, and the effects of adoption on our condensed consolidated financial statements were not material.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Values of Financial Instruments Measured on a Recurring Basis	The fair values of the financial instruments we measure at fair value on a recurring basis are as follows (in thousands): March 31, 2020 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 310,815 $ — $ — $ 310,815 Commercial paper — 88,923 — 88,923 Marketable securities: Corporate bonds — 418,412 — 418,412 U.S. treasury securities 222,515 — — 222,515 Commercial paper — 159,177 — 159,177 Asset-backed securities — 105,868 — 105,868 Certificates of deposit — 89,903 — 89,903 Prepaid expenses and other current assets: Certificates of deposit — 4,287 — 4,287 Restricted cash: Certificates of deposit $ — $ 23,791 $ — $ 23,791 December 31, 2019 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 214,413 $ — $ — $ 214,413 Commercial paper — 105,354 — 105,354 Corporate bonds — 3,791 — 3,791 Certificates of deposit — 2,914 — 2,914 Marketable securities: Corporate bonds — 450,433 — 450,433 U.S. treasury securities 201,640 — — 201,640 Commercial paper — 196,328 — 196,328 Asset-backed securities — 114,599 — 114,599 Certificates of deposit — 100,679 — 100,679 Prepaid expenses and other current assets: Certificates of deposit — 2,738 — 2,738 Restricted cash: Certificates of deposit $ — $ 25,339 $ — $ 25,339
Fair Value of Marketable Securities by Contractual Maturity	The fair value of our marketable securities by contractual maturity is as follows (in thousands): March 31, 2020 Due in one year or less $ 721,044 Due after one to five years 274,831 Total $ 995,875

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock Option Activity	Stock option activity during the three months ended March 31, 2020, was as follows (in thousands, except per share amounts): Stock Options Outstanding Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (1) (in years) Outstanding as of December 31, 2019 56,966 $ 2.25 3.5 $ 933,299 Granted 1,130 22.35 Exercised (8,923) 2.28 Outstanding as of March 31, 2020 49,173 $ 2.71 3.4 $ 625,770 Exercisable as of March 31, 2020 48,105 $ 2.28 3.3 $ 632,999 (1) We calculate intrinsic value based on the difference between the exercise price of in-the-money-stock options and the fair value of our common stock as of the respective balance sheet date.
Restricted Stock Unit Activity	RSU activity during the three months ended March 31, 2020, was as follows (in thousands, except per share amounts): Restricted Stock Units Outstanding Shares Weighted Average Grant Date Fair Value Outstanding as of December 31, 2019 56,791 $ 20.19 Granted 4,853 22.02 Released (5,296) 19.04 Forfeited (2,643) 19.20 Outstanding as of March 31, 2020 53,705 $ 20.51
Share-Based Compensation Expense	Share-based compensation expense during the three months ended March 31, 2020 and 2019, was as follows (in thousands): Three Months Ended March 31, 2020 2019 Cost of revenue $ 1,426 $ 15 Research and development 48,906 626 Sales and marketing 13,919 29 General and administrative 16,773 24 Total share-based compensation $ 81,024 $ 694

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders	We calculated basic and diluted net loss per share attributable to common stockholders as follows (in thousands, except per share amounts): Three Months Ended March 31, 2020 2019 Class A Class B Common Numerator: Net loss attributable to common stockholders $ (93,363) $ (47,833) $ (41,420) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 381,068 195,234 127,346 Net loss per share attributable to common stockholders, basic and diluted $ (0.25) $ (0.25) $ (0.33)
Weighted-Average Anti-Dilutive Shares of Common Stock Excluded from the Calculation of Diluted Net Loss Per Share	Basic net loss per share is the same as diluted net loss per share because we reported net losses for all periods presented. We excluded the following weighted-average potential shares of common stock from our calculation of diluted net loss per share attributable to common stockholders because these would be anti-dilutive (in thousands): Three Months Ended March 31, 2020 2019 Redeemable convertible preferred stock — 308,373 Outstanding stock options 52,581 76,584 Unvested restricted stock units 56,412 81,498 Redeemable convertible preferred stock warrants — 249 Total 108,993 466,704

Geographical Information (Table

Geographical Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Revenue Disaggregated by Geography	Revenue disaggregated by geography based on our customers’ billing addresses is as follows (in thousands): Three Months Ended March 31, 2020 2019 United States $ 234,950 $ 181,762 International (1) 36,990 20,149 Total revenue $ 271,940 $ 201,911 (1) No individual country other than the United States exceeded 10% of our total revenue for any period presented.
Property and Equipment, Net and Operating Lease Right-of-Use Assets by Geography	Property and equipment, net and operating lease right-of-use assets by geography is as follows (in thousands): March 31, December 31, 2020 2019 United States $ 249,261 $ 266,763 International (1) 14,023 13,480 Total property and equipment, net and operating lease right-of-use assets $ 263,284 $ 280,243 (1) No individual country other than the United States exceeded 10% of our total property and equipment, net and operating lease right-of-use assets for any period presented.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Details)	3 Months Ended
	Mar. 31, 2020segment
Summary of Significant Accounting Policies [Line Items]
Number of operating segments	1
RSUs | 2009 Plan
Summary of Significant Accounting Policies [Line Items]
Service period	4 years
RSUs | 2019 Plan
Summary of Significant Accounting Policies [Line Items]
Service period	4 years

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Values of Financial Instruments Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 995,875
Corporate bonds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	418,412	$ 450,433
Corporate bonds | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Corporate bonds | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	418,412	450,433
Corporate bonds | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
U.S. treasury securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	222,515	201,640
U.S. treasury securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	222,515	201,640
U.S. treasury securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
U.S. treasury securities | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Commercial paper | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	159,177	196,328
Commercial paper | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Commercial paper | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	159,177	196,328
Commercial paper | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Asset-backed securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	105,868	114,599
Asset-backed securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Asset-backed securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	105,868	114,599
Asset-backed securities | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Certificates of deposit | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	89,903	100,679
Prepaid expenses and other current assets	4,287	2,738
Restricted cash	23,791	25,339
Certificates of deposit | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Prepaid expenses and other current assets	0	0
Restricted cash	0	0
Certificates of deposit | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	89,903	100,679
Prepaid expenses and other current assets	4,287	2,738
Restricted cash	23,791	25,339
Certificates of deposit | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Prepaid expenses and other current assets	0	0
Restricted cash	0	0
Money market funds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	310,815	214,413
Money market funds | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	310,815	214,413
Money market funds | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money market funds | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Commercial paper | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	88,923	105,354
Commercial paper | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Commercial paper | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	88,923	105,354
Commercial paper | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	0
Corporate bonds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		3,791
Corporate bonds | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Corporate bonds | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		3,791
Corporate bonds | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Certificates of deposit | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		2,914
Certificates of deposit | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Certificates of deposit | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		2,914
Certificates of deposit | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Fair Value of Marketable Securities by Contractual Maturity (Details) $ in Thousands	Mar. 31, 2020USD ($)
Cash and Cash Equivalents [Abstract]
Due in one year or less	$ 721,044
Due after one to five years	274,831
Total	$ 995,875

Commitments and Contingencies (

Commitments and Contingencies (Details) ft² in Thousands, $ in Millions	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)ft²
Commitments and Contingencies Disclosure [Abstract]
Area of office space (in sqft) | ft²			490
Noncancelable minimum lease payments not yet commenced			$ 440
Secured letters of credit outstanding	$ 25.5	$ 25.5

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value of stock options vested	$ 0.8	$ 0.6
Aggregate intrinsic value of stock options exercised	$ 179.1	$ 1.2
Stock options granted (in shares)	1,130,000	0
Unrecognized share-based compensation expense	$ 623
Weighted-average recognition period for unrecognized share-based compensation expense	3 years 1 month 6 days
2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)	0
2009 Plan | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
2009 Plan | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	7 years
2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding shares, additional reserve	5.00%
2019 Plan | Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)	117,448,816
2019 Plan | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Shares
Beginning balance (in shares)	56,966,000
Granted (in shares)	1,130,000	0
Exercised (in shares)	(8,923,000)
Ending balance (in shares)	49,173,000
Exercisable (in shares)	48,105,000
Weighted-Average Exercise Price
Beginning balance (in dollars per share)	$ 2.25
Granted (in dollars per share)	22.35
Exercised (in dollars per share)	2.28
Ending balance (in dollars per share)	2.71
Exercisable (in dollars per share)	$ 2.28
Weighted-Average Remaining Contractual Term, Outstanding	3 years 4 months 24 days	3 years 6 months
Weighted-Average Remaining Contractual Term, Exercisable	3 years 3 months 18 days
Aggregate Intrinsic Value, Outstanding	$ 625,770		$ 933,299
Aggregate Intrinsic Value, Exercisable	$ 632,999

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Unit Activity (Details) - RSUs shares in Thousands	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Shares
Beginning balance (in shares) | shares	56,791
Granted (in shares) | shares	4,853
Released (in shares) | shares	(5,296)
Forfeited (in shares) | shares	(2,643)
Ending balance (in shares) | shares	53,705
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 20.19
Granted (in dollars per share) | $ / shares	22.02
Released (in dollars per share) | $ / shares	19.04
Forfeited (in dollars per share) | $ / shares	19.20
Ending balance (in dollars per share) | $ / shares	$ 20.51

Share-Based Compensation - Shar

Share-Based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	$ 81,024	$ 694
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	1,426	15
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	48,906	626
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	13,919	29
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	$ 16,773	$ 24

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Calculation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Numerator:
Net loss attributable to common stockholders	$ (141,196)	$ (41,420)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares)	576,302	127,346
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.25)	$ (0.33)
Class A
Numerator:
Net loss attributable to common stockholders	$ (93,363)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares)	381,068
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.25)
Class B
Numerator:
Net loss attributable to common stockholders	$ (47,833)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares)	195,234
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.25)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Weighted-Average Anti-Dilutive Shares of Common Stock Excluded from the Calculation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	108,993	466,704
Redeemable convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	0	308,373
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	52,581	76,584
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	56,412	81,498
Redeemable convertible preferred stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	0	249

Geographical Information (Detai

Geographical Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 271,940	$ 201,911
Total property and equipment, net and operating lease right-of-use assets	263,284		$ 280,243
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	234,950	181,762
Total property and equipment, net and operating lease right-of-use assets	249,261		266,763
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	36,990	$ 20,149
Total property and equipment, net and operating lease right-of-use assets	$ 14,023		$ 13,480

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	Apr. 07, 2020	Mar. 31, 2020
Subsequent Event [Line Items]
Weighted-average recognition period for unrecognized share-based compensation expense		3 years 1 month 6 days
RSUs and Restricted Stock Awards | Subsequent Event
Subsequent Event [Line Items]
Awards granted (in shares)	19,431,808
Aggregate grant date fair value	$ 292.6
Weighted-average recognition period for unrecognized share-based compensation expense	3 years 10 months 24 days