Pinterest (PINS) 10-Q 31 Jul 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2020	Jul. 24, 2020
Document Information [Line Items]
Document Type	10-Q
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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		462,675,810
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		137,875,104

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 863,620	$ 649,666
Marketable securities	839,470	1,063,679
Accounts receivable, net of allowances of $5,612 and $2,851 as of June 30, 2020 and December 31, 2019, respectively	209,933	316,367
Prepaid expenses and other current assets	45,170	37,522
Total current assets	1,958,193	2,067,234
Property and equipment, net	83,006	91,992
Operating lease right-of-use assets	165,250	188,251
Goodwill and intangible assets, net	14,067	14,576
Restricted cash	23,221	25,339
Other assets	5,887	5,925
Total assets	2,249,624	2,393,317
Current liabilities:
Accounts payable	43,705	34,334
Accrued expenses and other current liabilities	122,912	141,823
Total current liabilities	166,617	176,157
Operating lease liabilities	151,282	173,392
Other liabilities	25,095	20,063
Total liabilities	342,994	369,612
Commitments and contingencies
Stockholders’ equity:
Common stock	6	6
Additional paid-in capital	4,351,557	4,229,778
Accumulated other comprehensive income	3,737	647
Accumulated deficit	(2,448,670)	(2,206,726)
Total stockholders’ equity	1,906,630	2,023,705
Total liabilities and stockholders’ equity	$ 2,249,624	$ 2,393,317

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Allowances	$ 5,612	$ 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)	451,944,000	360,850,000
Common stock, shares outstanding (in shares)	451,944,000	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)	144,320,000	209,054,000
Common stock, shares outstanding (in shares)	144,320,000	209,054,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue	$ 272,485	$ 261,249	$ 544,425	$ 463,160
Costs and expenses:
Cost of revenue	108,259	105,415	207,491	179,109
Research and development	136,593	801,879	282,297	874,323
Sales and marketing	86,483	296,919	203,510	373,313
General and administrative	45,680	224,179	101,747	248,384
Total costs and expenses	377,015	1,428,392	795,045	1,675,129
Loss from operations	(104,530)	(1,167,143)	(250,620)	(1,211,969)
Interest income	4,218	8,127	11,369	12,186
Interest expense and other income (expense), net	(16)	(448)	(2,093)	(948)
Loss before provision for income taxes	(100,328)	(1,159,464)	(241,344)	(1,200,731)
Provision for income taxes	420	37	600	190
Net loss	$ (100,748)	$ (1,159,501)	$ (241,944)	$ (1,200,921)
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.17)	$ (2.62)	$ (0.42)	$ (4.20)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares)	586,737	443,340	581,518	285,955

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (100,748)	$ (1,159,501)	$ (241,944)	$ (1,200,921)
Other comprehensive income (loss), net of taxes:
Change in unrealized gain (loss) on available-for-sale marketable securities	5,941	745	3,406	1,934
Change in foreign currency translation adjustment	3	9	(316)	10
Comprehensive loss	$ (94,804)	$ (1,158,747)	$ (238,854)	$ (1,198,977)

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	Accumulated Deficit
Balance (in shares) at Dec. 31, 2018	308,373
Balance at Dec. 31, 2018	$ 1,465,399
Increase (Decrease) in Temporary Equity [Roll Forward]
Conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants to common stock in connection with initial public offering (in shares)	(308,373)
Conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants to common stock in connection with initial public offering	$ (1,465,399)
Balance (in shares) at Jun. 30, 2019	0
Balance at Jun. 30, 2019	$ 0
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]
Release of restricted stock units (in shares)		20,257
Release of restricted stock units	0
Shares repurchased for tax withholdings on release of restricted stock units	(302,675)		(302,675)
Conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants to common stock in connection with initial public offering (in shares)		308,622
Conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants to common stock in connection with initial public offering	1,470,077	$ 3	1,470,074
Issuance of common stock in connection with initial public offering net of underwriters' discounts and commissions and offering costs (in shares)		86,250
Issuance of common stock in connection with initial public offering net of underwriters' discounts and commissions and offering costs	1,563,383	$ 1	1,563,382
Issuance of common stock for cash upon exercise of stock options, net (in shares)		277
Issuance of common stock for cash upon exercise of stock options, net	702		702
Share-based compensation	1,135,293		1,135,293
Other comprehensive income (loss)	1,944			1,944
Net loss	(1,200,921)				(1,200,921)
Ending balance (in shares) at Jun. 30, 2019		542,704
Ending balance at Jun. 30, 2019	$ 2,073,240	$ 5	4,118,988	523	(2,046,276)
Balance (in shares) at Mar. 31, 2019	308,373
Balance at Mar. 31, 2019	$ 1,465,399
Increase (Decrease) in Temporary Equity [Roll Forward]
Conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants to common stock in connection with initial public offering (in shares)	(308,373)
Conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants to common stock in connection with initial public offering	$ (1,465,399)
Balance (in shares) at Jun. 30, 2019	0
Balance at Jun. 30, 2019	$ 0
Beginning balance (in shares) at Mar. 31, 2019		127,371
Beginning balance at Mar. 31, 2019	(633,989)	$ 1	253,016	(231)	(886,775)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units (in shares)		20,257
Release of restricted stock units	0
Shares repurchased for tax withholdings on release of restricted stock units	(302,675)		(302,675)
Conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants to common stock in connection with initial public offering (in shares)		308,622
Conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants to common stock in connection with initial public offering	1,470,077	$ 3	1,470,074
Issuance of common stock in connection with initial public offering net of underwriters' discounts and commissions and offering costs (in shares)		86,250
Issuance of common stock in connection with initial public offering net of underwriters' discounts and commissions and offering costs	1,563,383	$ 1	1,563,382
Issuance of common stock for cash upon exercise of stock options, net (in shares)		204
Issuance of common stock for cash upon exercise of stock options, net	592		592
Share-based compensation	1,134,599		1,134,599
Other comprehensive income (loss)	754			754
Net loss	(1,159,501)				(1,159,501)
Ending balance (in shares) at Jun. 30, 2019		542,704
Ending balance at Jun. 30, 2019	$ 2,073,240	$ 5	4,118,988	523	(2,046,276)
Balance (in shares) at Dec. 31, 2019	0
Balance at Dec. 31, 2019	$ 0
Balance (in shares) at Jun. 30, 2020	0
Balance at Jun. 30, 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)		8,143
Release of restricted stock units	0
Shares repurchased for tax withholdings on release of restricted stock units	$ (56,887)		(56,887)
Issuance of common stock for cash upon exercise of stock options, net (in shares)	15,518	15,518
Issuance of common stock for cash upon exercise of stock options, net	$ 32,749		32,749
Issuance of common stock related to charitable contributions (in shares)		150
Issuance of common stock related to charitable contributions	2,748		2,748
Issuance of restricted stock awards (in shares)		2,549
Issuance of restricted stock awards	0
Share-based compensation	143,169		143,169
Other comprehensive income (loss)	3,090			3,090
Net loss	(241,944)				(241,944)
Ending balance (in shares) at Jun. 30, 2020		596,264
Ending balance at Jun. 30, 2020	$ 1,906,630	$ 6	4,351,557	3,737	(2,448,670)
Balance (in shares) at Mar. 31, 2020	0
Balance at Mar. 31, 2020	$ 0
Balance (in shares) at Jun. 30, 2020	0
Balance at Jun. 30, 2020	$ 0
Beginning balance (in shares) at Mar. 31, 2020		581,840
Beginning balance at Mar. 31, 2020	1,938,480	$ 6	4,288,603	(2,207)	(2,347,922)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units (in shares)		5,230
Release of restricted stock units	0
Shares repurchased for tax withholdings on release of restricted stock units	(12,797)		(12,797)
Issuance of common stock for cash upon exercise of stock options, net (in shares)		6,595
Issuance of common stock for cash upon exercise of stock options, net	12,402		12,402
Issuance of common stock related to charitable contributions (in shares)		50
Issuance of common stock related to charitable contributions	1,204		1,204
Issuance of restricted stock awards (in shares)		2,549
Issuance of restricted stock awards	0
Share-based compensation	62,145		62,145
Other comprehensive income (loss)	5,944			5,944
Net loss	(100,748)				(100,748)
Ending balance (in shares) at Jun. 30, 2020		596,264
Ending balance at Jun. 30, 2020	$ 1,906,630	$ 6	$ 4,351,557	$ 3,737	$ (2,448,670)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities
Net income (loss)	$ (241,944)	$ (1,200,921)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	20,231	12,203
Share-based compensation	143,169	1,135,293
Other	3,811	(2,713)
Changes in assets and liabilities:
Accounts receivable	103,544	19,615
Prepaid expenses and other assets	(7,180)	(6,174)
Operating lease right-of-use assets	21,456	14,040
Accounts payable	9,780	7,189
Accrued expenses and other liabilities	(7,743)	15,310
Operating lease liabilities	(24,357)	(10,217)
Net cash provided by (used in) operating activities	20,767	(16,375)
Investing activities
Purchases of property and equipment and intangible assets	(11,325)	(11,914)
Purchases of marketable securities	(308,612)	(159,315)
Sales of marketable securities	113,184	60,239
Maturities of marketable securities	422,266	166,288
Other investing activities	316	0
Net cash provided by investing activities	215,829	55,298
Financing activities
Proceeds from initial public offering, net of underwriters' discounts and commissions	0	1,573,200
Proceeds from exercise of stock options, net	32,749	702
Shares repurchased for tax withholdings on release of restricted stock units	(56,887)	(302,675)
Payment of deferred offering costs and other financing activities	0	(10,103)
Net cash provided by (used in) financing activities	(24,138)	1,261,124
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(150)	(17)
Net increase in cash, cash equivalents, and restricted cash	212,308	1,300,030
Cash, cash equivalents, and restricted cash, beginning of period	677,743	135,290
Cash, cash equivalents, and restricted cash, end of period	890,051	1,435,320
Supplemental cash flow information
Accrued property and equipment	4,453	4,618
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 4,121	$ 23,381

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Reconciliation of cash, cash equivalents and restricted cash to condensed consolidated balance sheets
Cash and cash equivalents	$ 863,620	$ 1,408,739
Restricted cash included in prepaid expenses and other current assets	3,210	3,266
Restricted cash	23,221	23,315
Total cash, cash equivalents, and restricted cash	$ 890,051	$ 1,435,320

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 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 initial public offering ("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 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 June 30, 2020 and December 31, 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 and Restricted Stock Awards ("RSAs") 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 and RSAs on a straight-line basis over the requisite service period. We measure RSUs and RSAs 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 2035. 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 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	6 Months Ended
	Jun. 30, 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): June 30, 2020 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 357,054 $ — $ — $ 357,054 Commercial paper — 176,304 — 176,304 Corporate bonds — 4,045 — 4,045 U.S. treasury securities 28,893 — — 28,893 Marketable securities: Corporate bonds — 356,837 — 356,837 U.S. treasury securities 226,000 — — 226,000 Commercial paper — 109,889 — 109,889 Asset-backed securities — 66,751 — 66,751 Certificates of deposit — 79,993 — 79,993 Prepaid expenses and other current assets: Certificates of deposit — 3,210 — 3,210 Restricted cash: Certificates of deposit $ — $ 23,221 $ — $ 23,221 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 June 30, 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 June 30, 2020 and December 31, 2019. We 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): June 30, 2020 Due in one year or less $ 637,398 Due after one to five years 202,072 Total $ 839,470 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	6 Months Ended
	Jun. 30, 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 $23.8 million and $25.5 million of secured letters of credit outstanding as of June 30, 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	6 Months Ended
	Jun. 30, 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, RSAs 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 June 30, 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, RSAs, 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. 103,492,207 shares of our Class A common stock were reserved for future issuance under our 2019 Plan as of June 30, 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 six months ended June 30, 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 (15,518) 2.11 Outstanding as of June 30, 2020 42,578 $ 2.84 3.2 $ 823,099 Exercisable as of June 30, 2020 41,588 $ 2.38 3.1 $ 823,087 (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 six months ended June 30, 2020 and 2019, was $1.7 million and $1.9 million, respectively. The aggregate intrinsic value of stock options exercised during the six months ended June 30, 2020 and 2019, was $303.1 million and $5.6 million, respectively. The total grant-date fair value of stock options granted during the six months ended June 30, 2020 was not material. No stock options were granted during the six months ended June 30, 2019. Restricted Stock Unit and Restricted Stock Award Activity RSU and RSA activity during the six months ended June 30, 2020, was as follows (in thousands, except per share amounts): Restricted Stock Units and Restricted Stock Awards Outstanding Shares Weighted Average Grant Date Fair Value Outstanding as of December 31, 2019 56,791 $ 20.19 Granted 24,365 16.46 Released (11,360) 19.33 Forfeited (7,465) 18.95 Outstanding as of June 30, 2020 62,331 $ 19.03 Share-Based Compensation Share-based compensation expense during the three and six months ended June 30, 2020 and 2019, was as follows (in thousands): Three Months Ended Six Months Ended 2020 2019 2020 2019 Cost of revenue $ 2,325 $ 28,157 $ 3,751 $ 28,172 Research and development 46,358 709,996 95,264 710,622 Sales and marketing (1) (2,074) 202,128 11,845 202,157 General and administrative 15,536 194,318 32,309 194,342 Total share-based compensation $ 62,145 $ 1,134,599 $ 143,169 $ 1,135,293 (1) Share-based compensation expense was negative for the three months ended June 30, 2020 due to the reversal of previously recognized share-based compensation expense related to unvested RSUs forfeited by our former Chief Operating Officer. As of June 30, 2020, we had $764.3 million of unrecognized share-based compensation expense, which we expect to recognize over a weighted-average period of 3.2 years.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 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 using the two-class method required for multiple classes of common stock and participating securities. Holders of our Class A and Class B common stock have identical rights except with respect to voting, conversion and transfer rights and therefore share equally in our net losses. Prior to our IPO, we considered 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, RSAs, 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 June 30, Six Months Ended June 30, 2020 2019 2020 2019 Class A Class B Class A Class B Class A Class B Class A Class B Numerator: Net loss attributable to common stockholders $ (70,961) $ (29,787) $ (189,368) $ (970,133) $ (165,255) $ (76,689) $ (151,947) $ (1,048,974) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 413,262 173,475 72,406 370,934 397,194 184,324 36,180 249,775 Net loss per share attributable to common stockholders, basic and diluted $ (0.17) $ (0.17) $ (2.62) $ (2.62) $ (0.42) $ (0.42) $ (4.20) $ (4.20) 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 Six Months Ended 2020 2019 2020 2019 Redeemable convertible preferred stock — 74,552 — 190,816 Outstanding stock options 46,274 76,424 49,427 76,505 Unvested restricted stock units and restricted stock awards 65,873 73,555 61,083 77,708 Redeemable convertible preferred stock warrants — 60 — 154 Total 112,147 224,591 110,510 345,183

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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

Geographical Information

Geographical Information	6 Months Ended
	Jun. 30, 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 Six Months Ended 2020 2019 2020 2019 United States $ 224,272 $ 231,770 $ 459,222 $ 413,532 International (1) $ 48,213 29,479 85,203 49,628 Total revenue $ 272,485 $ 261,249 $ 544,425 $ 463,160 (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): June 30, December 31, 2020 2019 United States $ 236,644 $ 266,763 International (1) 11,612 13,480 Total property and equipment, net and operating lease right-of-use assets $ 248,256 $ 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_2

Description of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 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 initial public offering ("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 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 and Restricted Stock Awards ("RSAs") 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 and RSAs on a straight-line basis over the requisite service period. We measure RSUs and RSAs 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 2035. 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 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)	6 Months Ended
	Jun. 30, 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): June 30, 2020 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 357,054 $ — $ — $ 357,054 Commercial paper — 176,304 — 176,304 Corporate bonds — 4,045 — 4,045 U.S. treasury securities 28,893 — — 28,893 Marketable securities: Corporate bonds — 356,837 — 356,837 U.S. treasury securities 226,000 — — 226,000 Commercial paper — 109,889 — 109,889 Asset-backed securities — 66,751 — 66,751 Certificates of deposit — 79,993 — 79,993 Prepaid expenses and other current assets: Certificates of deposit — 3,210 — 3,210 Restricted cash: Certificates of deposit $ — $ 23,221 $ — $ 23,221 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): June 30, 2020 Due in one year or less $ 637,398 Due after one to five years 202,072 Total $ 839,470

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock Option Activity	Stock option activity during the six months ended June 30, 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 (15,518) 2.11 Outstanding as of June 30, 2020 42,578 $ 2.84 3.2 $ 823,099 Exercisable as of June 30, 2020 41,588 $ 2.38 3.1 $ 823,087 (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 and RSA activity during the six months ended June 30, 2020, was as follows (in thousands, except per share amounts): Restricted Stock Units and Restricted Stock Awards Outstanding Shares Weighted Average Grant Date Fair Value Outstanding as of December 31, 2019 56,791 $ 20.19 Granted 24,365 16.46 Released (11,360) 19.33 Forfeited (7,465) 18.95 Outstanding as of June 30, 2020 62,331 $ 19.03
Share-Based Compensation Expense	Share-based compensation expense during the three and six months ended June 30, 2020 and 2019, was as follows (in thousands): Three Months Ended Six Months Ended 2020 2019 2020 2019 Cost of revenue $ 2,325 $ 28,157 $ 3,751 $ 28,172 Research and development 46,358 709,996 95,264 710,622 Sales and marketing (1) (2,074) 202,128 11,845 202,157 General and administrative 15,536 194,318 32,309 194,342 Total share-based compensation $ 62,145 $ 1,134,599 $ 143,169 $ 1,135,293 (1) Share-based compensation expense was negative for the three months ended June 30, 2020 due to the reversal of previously recognized share-based compensation expense related to unvested RSUs forfeited by our former Chief Operating Officer.

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2020 2019 2020 2019 Class A Class B Class A Class B Class A Class B Class A Class B Numerator: Net loss attributable to common stockholders $ (70,961) $ (29,787) $ (189,368) $ (970,133) $ (165,255) $ (76,689) $ (151,947) $ (1,048,974) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 413,262 173,475 72,406 370,934 397,194 184,324 36,180 249,775 Net loss per share attributable to common stockholders, basic and diluted $ (0.17) $ (0.17) $ (2.62) $ (2.62) $ (0.42) $ (0.42) $ (4.20) $ (4.20)
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 Six Months Ended 2020 2019 2020 2019 Redeemable convertible preferred stock — 74,552 — 190,816 Outstanding stock options 46,274 76,424 49,427 76,505 Unvested restricted stock units and restricted stock awards 65,873 73,555 61,083 77,708 Redeemable convertible preferred stock warrants — 60 — 154 Total 112,147 224,591 110,510 345,183

Geographical Information (Table

Geographical Information (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended 2020 2019 2020 2019 United States $ 224,272 $ 231,770 $ 459,222 $ 413,532 International (1) $ 48,213 29,479 85,203 49,628 Total revenue $ 272,485 $ 261,249 $ 544,425 $ 463,160 (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): June 30, December 31, 2020 2019 United States $ 236,644 $ 266,763 International (1) 11,612 13,480 Total property and equipment, net and operating lease right-of-use assets $ 248,256 $ 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)	6 Months Ended
	Jun. 30, 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
Unvested restricted stock units and restricted stock awards | 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	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 839,470
Corporate bonds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	356,837	$ 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	356,837	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	226,000	201,640
U.S. treasury securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	226,000	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	109,889	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	109,889	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	66,751	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	66,751	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	79,993	100,679
Prepaid expenses and other current assets	3,210	2,738
Restricted cash	23,221	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	79,993	100,679
Prepaid expenses and other current assets	3,210	2,738
Restricted cash	23,221	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	357,054	214,413
Money market funds | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	357,054	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	176,304	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	176,304	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	4,045	3,791
Corporate bonds | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Corporate bonds | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	4,045	3,791
Corporate bonds | Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
U.S. treasury securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	28,893
U.S. treasury securities | Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	28,893
U.S. treasury securities | Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0
U.S. treasury securities | 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	Jun. 30, 2020USD ($)
Cash and Cash Equivalents [Abstract]
Due in one year or less	$ 637,398
Due after one to five years	202,072
Total	$ 839,470

Commitments and Contingencies (

Commitments and Contingencies (Details) ft² in Thousands, $ in Millions	Jun. 30, 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	$ 23.8	$ 25.5

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value of stock options vested	$ 1.7	$ 1.9
Aggregate intrinsic value of stock options exercised	$ 303.1	$ 5.6
Stock options granted (in shares)	1,130,000	0
Unrecognized share-based compensation expense	$ 764.3
Weighted-average recognition period for unrecognized share-based compensation expense	3 years 2 months 12 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)	103,492,207
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	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Shares
Beginning balance (in shares)	56,966,000
Granted (in shares)	1,130,000	0
Exercised (in shares)	(15,518,000)
Ending balance (in shares)	42,578,000
Exercisable (in shares)	41,588,000
Weighted-Average Exercise Price
Beginning balance (in dollars per share)	$ 2.25
Granted (in dollars per share)	22.35
Exercised (in dollars per share)	2.11
Ending balance (in dollars per share)	2.84
Exercisable (in dollars per share)	$ 2.38
Weighted-Average Remaining Contractual Term, Outstanding	3 years 2 months 12 days	3 years 6 months
Weighted-Average Remaining Contractual Term, Exercisable	3 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding	$ 823,099		$ 933,299
Aggregate Intrinsic Value, Exercisable	$ 823,087

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units and Restricted Stock Awards Outstanding shares in Thousands	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Shares
Beginning balance (in shares) | shares	56,791
Granted (in shares) | shares	24,365
Released (in shares) | shares	(11,360)
Forfeited (in shares) | shares	(7,465)
Ending balance (in shares) | shares	62,331
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 20.19
Granted (in dollars per share) | $ / shares	16.46
Released (in dollars per share) | $ / shares	19.33
Forfeited (in dollars per share) | $ / shares	18.95
Ending balance (in dollars per share) | $ / shares	$ 19.03

Share-Based Compensation - Shar

Share-Based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	$ 62,145	$ 1,134,599	$ 143,169	$ 1,135,293
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	2,325	28,157	3,751	28,172
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	46,358	709,996	95,264	710,622
Sales and marketing (1)
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	(2,074)	202,128	11,845	202,157
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	$ 15,536	$ 194,318	$ 32,309	$ 194,342

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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net loss attributable to common stockholders	$ (100,748)	$ (1,159,501)	$ (241,944)	$ (1,200,921)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares)	586,737	443,340	581,518	285,955
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.17)	$ (2.62)	$ (0.42)	$ (4.20)
Class A
Numerator:
Net loss attributable to common stockholders	$ (70,961)	$ (189,368)	$ (165,255)	$ (151,947)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares)	413,262	72,406	397,194	36,180
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.17)	$ (2.62)	$ (0.42)	$ (4.20)
Class B
Numerator:
Net loss attributable to common stockholders	$ (29,787)	$ (970,133)	$ (76,689)	$ (1,048,974)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares)	173,475	370,934	184,324	249,775
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.17)	$ (2.62)	$ (0.42)	$ (4.20)

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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	112,147	224,591	110,510	345,183
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	74,552	0	190,816
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	46,274	76,424	49,427	76,505
Unvested restricted stock units and restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	65,873	73,555	61,083	77,708
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	60	0	154

Income Taxes (Details)

Income Taxes (Details) $ in Millions	Jun. 22, 2020USD ($)
Income Tax Disclosure [Abstract]
Reduction in deferred tax assets related to net operating losses	$ 24.4

Geographical Information (Detai

Geographical Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 272,485	$ 261,249	$ 544,425	$ 463,160
Total property and equipment, net and operating lease right-of-use assets	248,256		248,256		$ 280,243
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	224,272	231,770	459,222	413,532
Total property and equipment, net and operating lease right-of-use assets	236,644		236,644		266,763
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	48,213	$ 29,479	85,203	$ 49,628
Total property and equipment, net and operating lease right-of-use assets	$ 11,612		$ 11,612		$ 13,480