Pinterest (PINS) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-38872
Entity Registrant Name	Pinterest, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-3607129
Entity Address, Address Line One	651 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	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001506293
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		593,243,901
Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		82,582,326

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,035,565	$ 1,361,936
Marketable securities	1,406,993	1,149,148
Accounts receivable, net of allowances of $7,995 and $10,635 as of September 30, 2024 and December 31, 2023, respectively	680,515	763,159
Prepaid expenses and other current assets	109,324	64,316
Total current assets	3,232,397	3,338,559
Property and equipment, net	39,421	32,225
Operating lease right-of-use assets	86,172	92,119
Goodwill and intangible assets, net	111,943	117,462
Other assets	21,200	14,040
Total assets	3,491,133	3,594,405
Current liabilities:
Accounts payable	88,876	79,058
Accrued expenses and other current liabilities	320,426	238,032
Total current liabilities	409,302	317,090
Operating lease liabilities	154,402	160,616
Other liabilities	33,550	26,019
Total liabilities	597,254	503,725
Commitments and contingencies
Stockholders’ equity:
Class A common stock, $0.00001 par value, 6,666,667 shares authorized, 592,374 and 591,663 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively; Class B common stock, $0.00001 par value, 1,333,333 shares authorized, 82,605 and 86,355 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively	7	7
Additional paid-in capital	5,023,586	5,241,954
Accumulated other comprehensive income (loss)	5,923	(1,013)
Accumulated deficit	(2,135,637)	(2,150,268)
Total stockholders’ equity	2,893,879	3,090,680
Total liabilities and stockholders’ equity	$ 3,491,133	$ 3,594,405

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Allowances	$ 7,995	$ 10,635
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	6,666,667
Common stock, shares issued (in shares)	592,374	591,663
Common stock, shares outstanding (in shares)	592,374	591,663
Class B
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	1,333,333	1,333,333
Common stock, shares issued (in shares)	82,605	86,355
Common stock, shares outstanding (in shares)	82,605	86,355

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 898,373	$ 763,203	$ 2,492,036	$ 2,073,809
Costs and expenses:
Cost of revenue	187,453	170,998	553,400	510,664
Research and development	326,679	264,698	919,791	800,435
Sales and marketing	249,033	225,929	740,676	670,299
General and administrative	141,124	106,577	359,942	414,339
Total costs and expenses	904,289	768,202	2,573,809	2,395,737
Loss from operations	(5,916)	(4,999)	(81,773)	(321,928)
Interest income (expense), net	32,477	26,691	98,423	76,480
Other income (expense), net	3,237	(4,596)	(5,885)	(2,094)
Income (loss) before provision for (benefit from) income taxes	29,798	17,096	10,765	(247,542)
Provision for (benefit from) income taxes	(758)	10,363	(3,866)	(10,754)
Net income (loss)	$ 30,556	$ 6,733	$ 14,631	$ (236,788)
Net income (loss) per share:
Basic (in dollars per share)	$ 0.05	$ 0.01	$ 0.02	$ (0.35)
Diluted (in dollars per share)	$ 0.04	$ 0.01	$ 0.02	$ (0.35)
Weighted-average shares used in computing net income (loss) per share:
Basic (in shares)	678,496	669,261	680,157	674,853
Diluted (in shares)	695,483	687,101	701,768	674,853

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 30,556	$ 6,733	$ 14,631	$ (236,788)
Other comprehensive income (loss), net of taxes:
Change in unrealized gain on available-for-sale marketable securities	6,783	1,646	5,252	4,404
Change in foreign currency translation adjustment	1,185	(389)	1,684	(434)
Comprehensive income (loss)	$ 38,524	$ 7,990	$ 21,567	$ (232,818)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Class A and Class B Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2022		683,202
Beginning balance at Dec. 31, 2022	$ 3,281,654	$ 7	$ 5,407,724	$ (11,419)	$ (2,114,658)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and issuance of restricted stock awards, net (in shares)		9,487
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	(243,926)		(243,926)
Issuance of common stock for cash upon exercise of stock options (in shares)		1,666
Issuance of common stock for cash upon exercise of stock options	4,664		4,664
Issuance of common stock related to charitable contributions (in shares)		500
Issuance of common stock related to charitable contributions	12,890		12,890
Repurchases of Class A common stock (in shares)		(21,216)
Repurchases of Class A common stock	(500,455)		(500,455)
Share-based compensation	484,633		484,633
Other comprehensive income (loss)	3,970			3,970
Net income (loss)	(236,788)				(236,788)
Ending balance (in shares) at Sep. 30, 2023		673,639
Ending balance at Sep. 30, 2023	2,806,642	$ 7	5,165,530	(7,449)	(2,351,446)
Beginning balance (in shares) at Jun. 30, 2023		669,516
Beginning balance at Jun. 30, 2023	2,693,082	$ 7	5,059,960	(8,706)	(2,358,179)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and issuance of restricted stock awards, net (in shares)		3,232
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	(80,723)		(80,723)
Issuance of common stock for cash upon exercise of stock options (in shares)		391
Issuance of common stock for cash upon exercise of stock options	1,448		1,448
Issuance of common stock related to charitable contributions (in shares)		500
Issuance of common stock related to charitable contributions	12,890		12,890
Repurchases of Class A common stock	74		74
Share-based compensation	171,881		171,881
Other comprehensive income (loss)	1,257			1,257
Net income (loss)	6,733				6,733
Ending balance (in shares) at Sep. 30, 2023		673,639
Ending balance at Sep. 30, 2023	2,806,642	$ 7	5,165,530	(7,449)	(2,351,446)
Beginning balance (in shares) at Dec. 31, 2023		678,018
Beginning balance at Dec. 31, 2023	3,090,680	$ 7	5,241,954	(1,013)	(2,150,268)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and issuance of restricted stock awards, net (in shares)		10,636
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	$ (305,519)		(305,519)
Issuance of common stock for cash upon exercise of stock options (in shares)	2,220	2,220
Issuance of common stock for cash upon exercise of stock options	$ 20,269		20,269
Repurchases of Class A common stock (in shares)		(15,895)
Repurchases of Class A common stock	(500,000)		(500,000)
Share-based compensation	566,882		566,882
Other comprehensive income (loss)	6,936			6,936
Net income (loss)	14,631				14,631
Ending balance (in shares) at Sep. 30, 2024		674,979
Ending balance at Sep. 30, 2024	2,893,879	$ 7	5,023,586	5,923	(2,135,637)
Beginning balance (in shares) at Jun. 30, 2024		686,193
Beginning balance at Jun. 30, 2024	3,198,053	$ 7	5,366,284	(2,045)	(2,166,193)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and issuance of restricted stock awards, net (in shares)		3,641
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	(86,058)		(86,058)
Issuance of common stock for cash upon exercise of stock options (in shares)		236
Issuance of common stock for cash upon exercise of stock options	1,006		1,006
Repurchases of Class A common stock (in shares)		(15,091)
Repurchases of Class A common stock	(465,622)		(465,622)
Share-based compensation	207,976		207,976
Other comprehensive income (loss)	7,968			7,968
Net income (loss)	30,556				30,556
Ending balance (in shares) at Sep. 30, 2024		674,979
Ending balance at Sep. 30, 2024	$ 2,893,879	$ 7	$ 5,023,586	$ 5,923	$ (2,135,637)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net income	$ 14,631	$ (236,788)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	15,202	16,185
Share-based compensation	566,882	484,633
Non-cash charitable contributions	0	12,890
Impairment and abandonment charges for leases and leasehold improvements	0	117,315
Net amortization of investment premium and discount	(21,124)	(14,814)
Other	4,851	(656)
Changes in assets and liabilities:
Accounts receivable	88,449	59,303
Prepaid expenses and other assets	(54,016)	(2,308)
Operating lease right-of-use assets	24,361	43,785
Accounts payable	9,933	(16,711)
Accrued expenses and other liabilities	89,715	(54,780)
Operating lease liabilities	(28,285)	(53,373)
Net cash provided by operating activities	710,599	354,681
Investing activities
Purchases of property and equipment	(20,813)	(3,780)
Purchases of marketable securities	(1,196,557)	(1,065,445)
Sales of marketable securities	9,718	31,709
Maturities of marketable securities	954,844	978,804
Net cash used in investing activities	(252,808)	(58,712)
Financing activities
Proceeds from exercise of stock options	20,266	4,664
Repurchases of Class A common stock	(500,000)	(500,000)
Shares repurchased for tax withholdings on release of restricted stock units and restricted stock awards	(305,519)	(243,926)
Net cash used in financing activities	(785,253)	(739,262)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(668)	648
Net decrease in cash, cash equivalents and restricted cash	(328,130)	(442,645)
Cash, cash equivalents and restricted cash, beginning of period	1,368,532	1,617,660
Cash, cash equivalents and restricted cash, end of period	1,040,402	1,175,015
Supplemental cash flow information
Cash paid for income taxes, net	18,660	9,227
Non-cash investing and financing activities:
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 21,744	$ 35,347

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Reconciliation of cash, cash equivalents and restricted cash to condensed consolidated balance sheets
Cash and cash equivalents	$ 1,035,565	$ 1,168,419
Restricted cash included in prepaid expenses and other current assets	0	2,542
Restricted cash included in other assets	4,837	4,054
Total cash, cash equivalents and restricted cash	$ 1,040,402	$ 1,175,015

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
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 search and discovery platform positioned at the intersection of search, social and commerce. 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, 2023 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, 2023, 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, 2024. 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, leases, assets acquired and liabilities assumed through business combinations, 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. Significant Accounting Policies There have been no material changes to our significant accounting policies from our Annual Report on Form 10-K for the year ended December 31, 2023.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2024
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): September 30, 2024 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 816,813 $ — $ — $ 816,813 Commercial paper — 102,965 — 102,965 U.S. treasury securities 12,951 — — 12,951 Marketable securities: Corporate bonds — 560,303 — 560,303 U.S. treasury securities 429,093 — — 429,093 Commercial paper — 286,454 — 286,454 Certificates of deposit — 124,933 — 124,933 Non-U.S. government and supranational bonds — 6,210 — 6,210 Restricted cash: Certificates of deposit — 4,837 — 4,837 December 31, 2023 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 1,032,675 $ — $ — $ 1,032,675 Commercial paper — 106,268 — 106,268 Certificates of deposit — 1,551 — 1,551 Corporate bonds — 859 — 859 Marketable securities: Corporate bonds — 427,957 — 427,957 U.S. treasury securities 336,356 — — 336,356 Commercial paper — 201,145 — 201,145 Certificates of deposit — 132,457 — 132,457 U.S. agency bonds — 42,250 — 42,250 Non-U.S. government and supranational bonds — 8,983 — 8,983 Prepaid expenses and other current assets: Certificates of deposit — 2,542 — 2,542 Restricted cash: Certificates of deposit — 4,054 — 4,054 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 not material in the aggregate as of September 30, 2024 and December 31, 2023. We evaluated all available evidence and did not recognize any allowance for credit losses for our marketable securities as of September 30, 2024 and December 31, 2023. The fair value of our marketable securities by contractual maturity is as follows (in thousands): September 30, 2024 Due in one year or less $ 1,111,889 Due after one to five years 295,104 Total $ 1,406,993 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	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments In April 2021, we entered into a private pricing addendum with Amazon Web Services (“AWS”), which governs our use of cloud computing infrastructure provided by AWS. Under the pricing addendum, we are required to purchase at least $3,250.0 million of cloud services from AWS through April 2029. If we fail to do so, we are required to pay the difference between the amount we spend and the required commitment amount. As of September 30, 2024, our remaining contractual commitment is $1,279.1 million. We expect to meet our remaining commitment. 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 there is a reasonable possibility that 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.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stockholders' Equity	Stockholders' Equity Equity Incentive Plan In June 2009, our board of directors adopted and approved our 2009 Stock Plan (the "2009 Plan"), which provides for the issuance of stock options, Restricted Stock Awards ("RSAs") and Restricted Stock Units ("RSUs") to qualified employees, directors and consultants. Stock options granted under our 2009 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 September 30, 2024. Our 2019 Omnibus Incentive Plan ("2019 Plan") became effective upon closing of our initial public offering 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. 171,811,414 shares of our Class A common stock were reserved for future issuance under our 2019 Plan as of September 30, 2024. 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 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 through 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 nine months ended September 30, 2024, 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, 2023 13,043 $ 15.41 6.1 $ 282,197 Exercised (2,220) 9.13 Forfeited (10) 2.96 Outstanding as of September 30, 2024 10,813 $ 16.71 6.2 $ 169,383 Exercisable as of September 30, 2024 6,537 $ 14.58 5.2 $ 116,310 (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 nine months ended September 30, 2024 and 2023, was $18.9 million and $21.3 million, respectively. The aggregate intrinsic value of stock options exercised during the nine months ended September 30, 2024 and 2023 was $62.7 million and $38.9 million, respectively. Restricted Stock Unit and Restricted Stock Award Activity RSU and RSA activity during the nine months ended September 30, 2024, 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, 2023 45,099 $ 25.83 Granted 20,080 34.79 Released (19,514) 28.22 Forfeited (4,295) 26.93 Outstanding as of September 30, 2024 41,370 $ 28.93 Share-Based Compensation Share-based compensation expense during the three and nine months ended September 30, 2024 and 2023, was as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Cost of revenue $ 3,943 $ 2,989 $ 10,668 $ 8,038 Research and development 138,610 112,879 369,446 315,724 Sales and marketing 32,389 25,857 88,284 71,444 General and administrative 33,034 30,156 98,484 89,427 Total share-based compensation $ 207,976 $ 171,881 $ 566,882 $ 484,633 As of September 30, 2024, we had $1,147.2 million of unrecognized share-based compensation expense, which we expect to recognize over a weighted-average period of 2.0 years. Stock Repurchase On September 16, 2023, our board of directors authorized a stock repurchase program of up to $1.0 billion of our Class A common stock (the "September 2023 program"). Under the September 2023 program, we are authorized to repurchase, from time-to-time, shares of our Class A common stock through open market purchases, in privately negotiated transactions or in such other manner as permitted by securities law and as determined by management at such time and in such amounts as management may decide. The September 2023 program does not obligate us to repurchase any specific number of shares and may be modified, suspended or discontinued at any time. The timing, manner, price and amount of any repurchases are determined by management in its discretion and depend on a variety of factors, including legal requirements, price and economic and market conditions. During the nine months ended September 30, 2024, we repurchased and retired 15,894,701 shares of our Class A common stock for an aggregate purchase price of $500.0 million. As of September 30, 2024, $500.0 million remained available for repurchases under the September 2023 program. The September 2023 program was canceled in November 2024. Refer to Note 8 for further information.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share We present net income (loss) per share using the two-class method required for multiple classes of common stock. 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 income or losses. We calculate basic net income (loss) per share by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share gives effect to all potential shares of common stock, including stock options, RSAs and RSUs, to the extent these are dilutive. The calculation of diluted net income (loss) of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted net income (loss) of Class B common stock does not assume the conversion of those shares to Class A common stock. We calculated basic and diluted net income (loss) per share as follows (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Class A Class B Class A Class B Class A Class B Class A Class B Basic net income (loss) per share: Numerator: Net income (loss) $ 26,835 $ 3,721 $ 5,847 $ 886 $ 12,837 $ 1,794 $ (205,602) $ (31,186) Denominator: Weighted-average shares used in computing net income (loss) per share, basic 595,867 82,629 581,235 88,026 596,749 83,408 585,973 88,880 Basic net income (loss) per share $ 0.05 $ 0.05 $ 0.01 $ 0.01 $ 0.02 $ 0.02 $ (0.35) $ (0.35) Diluted net income (loss) per share: Numerator: Net income (loss) $ 26,835 $ 3,721 $ 5,847 $ 886 $ 12,837 $ 1,794 $ (205,602) $ (31,186) Reallocation of net income as a result of conversion of Class B to Class A common stock 3,721 — 886 — 1,794 — — — Reallocation of net income to Class B common stock — (91) — (25) — (55) — — Diluted net income (loss) $ 30,556 $ 3,630 $ 6,733 $ 861 $ 14,631 $ 1,739 $ (205,602) $ (31,186) Denominator Weighted-average shares used in computing net income (loss) per share, basic 595,867 82,629 581,235 88,026 596,749 83,408 585,973 88,880 Conversion of Class B to Class A common stock 82,629 — 88,026 — 83,408 — — — Weighted average effect of dilutive potential common stock 16,987 — 17,840 — 21,611 — — — Weighted-average shares used in computing net income (loss) per share, diluted 695,483 82,629 687,101 88,026 701,768 83,408 585,973 88,880 Diluted net income (loss) per share $ 0.04 $ 0.04 $ 0.01 $ 0.01 $ 0.02 $ 0.02 $ (0.35) $ (0.35) Basic net income (loss) per share is the same as diluted net income (loss) per share for the nine months ended September 30, 2023 because we reported a net loss. We excluded the following weighted-average potential shares of common stock from our calculation of diluted net income (loss) per share because these would be anti-dilutive (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Outstanding stock options — 8,553 — 14,750 Unvested restricted stock units and restricted stock awards 13,932 5,327 5,701 53,967 Total 13,932 13,880 5,701 68,717

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
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 are not material for the three and nine months ended September 30, 2024 and 2023 . All periods include the effects of the capitalization and amortization of research and development expenses as required by the 2017 Tax Cuts and Jobs Act. Given our recent history of generating net income in the U.S., we believe that there is a reasonable possibility that sufficient positive evidence may become available to allow us to determine that a significant portion of the valuation allowance recorded against our U.S. deferred tax assets could be released within the next twelve months. The reversal would result in the recognition of material U.S. deferred tax assets and a corresponding income tax benefit in the period the release is recorded. However, the exact timing and amount of the valuation allowance release are subject to change based on our actual operating results.

Geographical Information

Geographical Information	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Geographical Information	Geographical Information Revenue disaggregated by geography based on our customers’ billing addresses was as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 U.S. and Canada (1) $ 691,108 $ 592,366 $ 1,871,299 $ 1,613,840 Europe (2) 132,724 118,469 400,495 334,666 Rest of World 74,541 52,368 220,242 125,303 Total revenue $ 898,373 $ 763,203 $ 2,492,036 $ 2,073,809 (1) United States revenue was $659.3 million and $560.0 million for the three months ended September 30, 2024 and 2023, respectively, and $1,785.6 million and $1,527.5 million for the nine months ended September 30, 2024 and 2023, respectively. No individual country other than the United States exceeded 10% of our total revenue for any period presented. (2) Europe includes Russia and Turkey. Our total deferred revenue was $20.8 million and $15.3 million as of September 30, 2024 and December 31, 2023, respectively. Property and equipment, net and operating lease right-of-use assets by geography is as follows (in thousands): September 30, December 31, 2024 2023 United States $ 71,052 $ 66,335 Ireland 24,951 18,658 Mexico 8,850 12,835 International (1) 20,740 26,516 Total property and equipment, net and operating lease right-of-use assets $ 125,593 $ 124,344 (1) Other than the United States, Ireland and Mexico, no other country exceeded 10% of our total property and equipment, net and operating lease right-of-use assets for any period presented.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Legal Matters On November 1, 2024, we reached a settlement to resolve pending litigation relating to allegations concerning the early development of Pinterest. We recorded $34.7 million , net of insurance proceeds, to general and administrative expense for the three and nine months ended September 30, 2024. Stock Repurchase In November 2024, our board of directors authorized a new stock repurchase program of up to $2.0 billion of our Class A common stock (the "November 2024 program") and canceled the September 2023 program under which $500.0 million had remained available for repurchase. Under the November 2024 program, we are authorized to repurchase, from time-to-time, shares of our Class A common stock through open market purchases, in privately negotiated transactions or in such other manner as permitted by securities law and as determined by management at such time and in such amounts as management may decide. The November 2024 program does not obligate us to repurchase any specific number of shares and may be modified, suspended or discontinued at any time. The timing, manner, price and amount of any repurchases are determined by management in its discretion and depend on a variety of factors, including legal requirements, price and economic and market conditions. We have not repurchased any of our Class A common stock under the November 2024 program as of November 7, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 30,556	$ 6,733	$ 14,631	$ (236,788)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Wanji Walcott [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 22, 2024, Wanji Walcott, our Chief Legal Officer, adopted a trading plan intended to satisfy Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended, to sell, between November 27, 2024 and December 31, 2025, up to 50% of net shares of our Class A common stock to be issued to Ms. Walcott after the satisfaction of applicable taxes following the vesting and settlement of up to 213,101 RSUs.
Name	Wanji Walcott
Title	Chief Legal Officer,
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 22, 2024
Expiration Date	December 31, 2025
Arrangement Duration	399 days
Aggregate Available	213,101	213,101

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
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").
Consolidation	We have eliminated all intercompany balances and transactions.
Reclassifications	Reclassifications
Use of Estimates	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, leases, assets acquired and liabilities assumed through business combinations, 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.
Net Loss Per Share Attributable to Common Stockholders	We present net income (loss) per share using the two-class method required for multiple classes of common stock. 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 income or losses. We calculate basic net income (loss) per share by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share gives effect to all potential shares of common stock, including stock options, RSAs and RSUs, to the extent these are dilutive. The calculation of diluted net income (loss) of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted net income (loss) of Class B common stock does not assume the conversion of those shares to Class A common stock.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of 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): September 30, 2024 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 816,813 $ — $ — $ 816,813 Commercial paper — 102,965 — 102,965 U.S. treasury securities 12,951 — — 12,951 Marketable securities: Corporate bonds — 560,303 — 560,303 U.S. treasury securities 429,093 — — 429,093 Commercial paper — 286,454 — 286,454 Certificates of deposit — 124,933 — 124,933 Non-U.S. government and supranational bonds — 6,210 — 6,210 Restricted cash: Certificates of deposit — 4,837 — 4,837 December 31, 2023 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 1,032,675 $ — $ — $ 1,032,675 Commercial paper — 106,268 — 106,268 Certificates of deposit — 1,551 — 1,551 Corporate bonds — 859 — 859 Marketable securities: Corporate bonds — 427,957 — 427,957 U.S. treasury securities 336,356 — — 336,356 Commercial paper — 201,145 — 201,145 Certificates of deposit — 132,457 — 132,457 U.S. agency bonds — 42,250 — 42,250 Non-U.S. government and supranational bonds — 8,983 — 8,983 Prepaid expenses and other current assets: Certificates of deposit — 2,542 — 2,542 Restricted cash: Certificates of deposit — 4,054 — 4,054
Schedule of Fair Value of Marketable Securities by Contractual Maturity	The fair value of our marketable securities by contractual maturity is as follows (in thousands): September 30, 2024 Due in one year or less $ 1,111,889 Due after one to five years 295,104 Total $ 1,406,993

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	Stock option activity during the nine months ended September 30, 2024, 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, 2023 13,043 $ 15.41 6.1 $ 282,197 Exercised (2,220) 9.13 Forfeited (10) 2.96 Outstanding as of September 30, 2024 10,813 $ 16.71 6.2 $ 169,383 Exercisable as of September 30, 2024 6,537 $ 14.58 5.2 $ 116,310 (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.
Schedule of Restricted Stock Unit Activity	RSU and RSA activity during the nine months ended September 30, 2024, 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, 2023 45,099 $ 25.83 Granted 20,080 34.79 Released (19,514) 28.22 Forfeited (4,295) 26.93 Outstanding as of September 30, 2024 41,370 $ 28.93
Schedule of Share-Based Compensation Expense	Share-based compensation expense during the three and nine months ended September 30, 2024 and 2023, was as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Cost of revenue $ 3,943 $ 2,989 $ 10,668 $ 8,038 Research and development 138,610 112,879 369,446 315,724 Sales and marketing 32,389 25,857 88,284 71,444 General and administrative 33,034 30,156 98,484 89,427 Total share-based compensation $ 207,976 $ 171,881 $ 566,882 $ 484,633

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Net Income (Loss) Per Share	We calculated basic and diluted net income (loss) per share as follows (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Class A Class B Class A Class B Class A Class B Class A Class B Basic net income (loss) per share: Numerator: Net income (loss) $ 26,835 $ 3,721 $ 5,847 $ 886 $ 12,837 $ 1,794 $ (205,602) $ (31,186) Denominator: Weighted-average shares used in computing net income (loss) per share, basic 595,867 82,629 581,235 88,026 596,749 83,408 585,973 88,880 Basic net income (loss) per share $ 0.05 $ 0.05 $ 0.01 $ 0.01 $ 0.02 $ 0.02 $ (0.35) $ (0.35) Diluted net income (loss) per share: Numerator: Net income (loss) $ 26,835 $ 3,721 $ 5,847 $ 886 $ 12,837 $ 1,794 $ (205,602) $ (31,186) Reallocation of net income as a result of conversion of Class B to Class A common stock 3,721 — 886 — 1,794 — — — Reallocation of net income to Class B common stock — (91) — (25) — (55) — — Diluted net income (loss) $ 30,556 $ 3,630 $ 6,733 $ 861 $ 14,631 $ 1,739 $ (205,602) $ (31,186) Denominator Weighted-average shares used in computing net income (loss) per share, basic 595,867 82,629 581,235 88,026 596,749 83,408 585,973 88,880 Conversion of Class B to Class A common stock 82,629 — 88,026 — 83,408 — — — Weighted average effect of dilutive potential common stock 16,987 — 17,840 — 21,611 — — — Weighted-average shares used in computing net income (loss) per share, diluted 695,483 82,629 687,101 88,026 701,768 83,408 585,973 88,880 Diluted net income (loss) per share $ 0.04 $ 0.04 $ 0.01 $ 0.01 $ 0.02 $ 0.02 $ (0.35) $ (0.35)
Schedule of Weighted-Average Anti-Dilutive Shares of Common Stock Excluded from the Calculation of Diluted Net Income (Loss) Per Share	We excluded the following weighted-average potential shares of common stock from our calculation of diluted net income (loss) per share because these would be anti-dilutive (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Outstanding stock options — 8,553 — 14,750 Unvested restricted stock units and restricted stock awards 13,932 5,327 5,701 53,967 Total 13,932 13,880 5,701 68,717

Geographical Information (Table

Geographical Information (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Revenue Disaggregated by Geography	Revenue disaggregated by geography based on our customers’ billing addresses was as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 U.S. and Canada (1) $ 691,108 $ 592,366 $ 1,871,299 $ 1,613,840 Europe (2) 132,724 118,469 400,495 334,666 Rest of World 74,541 52,368 220,242 125,303 Total revenue $ 898,373 $ 763,203 $ 2,492,036 $ 2,073,809 (1) United States revenue was $659.3 million and $560.0 million for the three months ended September 30, 2024 and 2023, respectively, and $1,785.6 million and $1,527.5 million for the nine months ended September 30, 2024 and 2023, respectively. No individual country other than the United States exceeded 10% of our total revenue for any period presented. (2) Europe includes Russia and Turkey.
Schedule of 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): September 30, December 31, 2024 2023 United States $ 71,052 $ 66,335 Ireland 24,951 18,658 Mexico 8,850 12,835 International (1) 20,740 26,516 Total property and equipment, net and operating lease right-of-use assets $ 125,593 $ 124,344 (1) Other than the United States, Ireland and Mexico, no other country exceeded 10% of our total property and equipment, net and operating lease right-of-use assets for any period presented.

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	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 1,406,993
Recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	560,303	$ 427,957
Recurring | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	429,093	336,356
Recurring | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	286,454	201,145
Recurring | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	124,933	132,457
Prepaid expenses and other current assets		2,542
Restricted cash	4,837	4,054
Recurring | U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		42,250
Recurring | Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	6,210	8,983
Level 1 | Recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 | Recurring | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	429,093	336,356
Level 1 | Recurring | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 1 | Recurring | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Prepaid expenses and other current assets		0
Restricted cash	0	0
Level 1 | Recurring | U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0
Level 1 | Recurring | Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 2 | Recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	560,303	427,957
Level 2 | Recurring | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 2 | Recurring | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	286,454	201,145
Level 2 | Recurring | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	124,933	132,457
Prepaid expenses and other current assets		2,542
Restricted cash	4,837	4,054
Level 2 | Recurring | U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		42,250
Level 2 | Recurring | Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	6,210	8,983
Level 3 | Recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Recurring | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Recurring | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Level 3 | Recurring | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Prepaid expenses and other current assets		0
Restricted cash	0	0
Level 3 | Recurring | U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		0
Level 3 | Recurring | Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Money market funds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	816,813	1,032,675
Money market funds | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	816,813	1,032,675
Money market funds | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money market funds | Level 3 | Recurring
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	102,965	106,268
Commercial paper | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Commercial paper | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	102,965	106,268
Commercial paper | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Certificates of deposit | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		1,551
Certificates of deposit | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Certificates of deposit | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		1,551
Certificates of deposit | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Corporate bonds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		859
Corporate bonds | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Corporate bonds | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		859
Corporate bonds | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		$ 0
U.S. treasury securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	12,951
U.S. treasury securities | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	12,951
U.S. treasury securities | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0
U.S. treasury securities | Level 3 | Recurring
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	Sep. 30, 2024 USD ($)
Fair Value Disclosures [Abstract]
Due in one year or less	$ 1,111,889
Due after one to five years	295,104
Total	$ 1,406,993

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2024	Apr. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Minimum required purchases	$ 1,279.1	$ 3,250

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 16, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value of stock options vested			$ 18,900	$ 21,300
Aggregate intrinsic value of stock options exercised			62,700	38,900
Unrecognized share-based compensation expense	$ 1,147,200		$ 1,147,200
Weighted-average recognition period for unrecognized share-based compensation expense			2 years
Repurchases of Class A common stock	465,622	$ (74)	$ 500,000	$ 500,455
Stock Repurchase Program, September 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized share repurchase amount					$ 1,000,000
Repurchases of Class A common stock (in shares)			15,894,701
Repurchases of Class A common stock			$ 500,000
Stock remaining available for repurchases	$ 500,000		$ 500,000
2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)	0		0
2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding shares, additional reserve			5%
2019 Plan | Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)	171,811,414		171,811,414
Stock Options | 2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period			10 years
Percentage of fair market value of outstanding stock, maximum			100%
Stock Options | 2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period			10 years
Percentage of fair market value of outstanding stock, maximum			100%
RSUs | 2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period			7 years

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Shares
Beginning balance (in shares) | shares	13,043
Exercised (in shares) | shares	(2,220)
Forfeited (in shares) | shares	(10)
Ending balance (in shares) | shares	10,813	13,043
Exercisable (in shares) | shares	6,537
Weighted-Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 15.41
Exercised (in dollars per share) | $ / shares	9.13
Forfeited (in dollars per share) | $ / shares	2.96
Ending balance (in dollars per share) | $ / shares	16.71	$ 15.41
Exercisable (in dollars per share) | $ / shares	$ 14.58
Weighted-Average Remaining Contractual Term, Outstanding	6 years 2 months 12 days	6 years 1 month 6 days
Weighted-Average Remaining Contractual Term, Exercisable	5 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding | $	$ 169,383	$ 282,197
Aggregate Intrinsic Value, Exercisable | $	$ 116,310

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units and Restricted Stock Awards Outstanding shares in Thousands	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Shares
Beginning balance (in shares) | shares	45,099
Granted (in shares) | shares	20,080
Released (in shares) | shares	(19,514)
Forfeited (in shares) | shares	(4,295)
Ending balance (in shares) | shares	41,370
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 25.83
Granted (in dollars per share) | $ / shares	34.79
Released (in dollars per share) | $ / shares	28.22
Forfeited (in dollars per share) | $ / shares	26.93
Ending balance (in dollars per share) | $ / shares	$ 28.93

Stockholders' Equity - Share-ba

Stockholders' Equity - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share based compensation expense	$ 207,976	$ 171,881	$ 566,882	$ 484,633
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share based compensation expense	3,943	2,989	10,668	8,038
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share based compensation expense	138,610	112,879	369,446	315,724
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share based compensation expense	32,389	25,857	88,284	71,444
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share based compensation expense	$ 33,034	$ 30,156	$ 98,484	$ 89,427

Net Income (Loss) Per Share - C

Net Income (Loss) Per Share - Calculation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Denominator:
Weighted-average shares used in computing net income (loss) per share, basic (in shares)	678,496	669,261	680,157	674,853
Basic net income (loss) per share (in dollars per share)	$ 0.05	$ 0.01	$ 0.02	$ (0.35)
Weighted-average shares used in computing net income (loss) per share, diluted (in shares)	695,483	687,101	701,768	674,853
Diluted net income (loss) per share (in dollars per share)	$ 0.04	$ 0.01	$ 0.02	$ (0.35)
Class A
Numerator:
Net income (loss)	$ 26,835	$ 5,847	$ 12,837	$ (205,602)
Reallocation of net income as a result of conversion of Class B to Class A common stock	3,721	886	1,794	0
Reallocation of net income to Class B common stock	0	0	0	0
Diluted net income (loss)	$ 30,556	$ 6,733	$ 14,631	$ (205,602)
Denominator:
Weighted-average shares used in computing net income (loss) per share, basic (in shares)	595,867	581,235	596,749	585,973
Basic net income (loss) per share (in dollars per share)	$ 0.05	$ 0.01	$ 0.02	$ (0.35)
Conversion of Class B to Class A common stock (in shares)	82,629	88,026	83,408	0
Weighted average effect of dilutive potential common stock (in shares)	16,987	17,840	21,611	0
Weighted-average shares used in computing net income (loss) per share, diluted (in shares)	695,483	687,101	701,768	585,973
Diluted net income (loss) per share (in dollars per share)	$ 0.04	$ 0.01	$ 0.02	$ (0.35)
Class B
Numerator:
Net income (loss)	$ 3,721	$ 886	$ 1,794	$ (31,186)
Reallocation of net income as a result of conversion of Class B to Class A common stock	0	0	0	0
Reallocation of net income to Class B common stock	(91)	(25)	(55)	0
Diluted net income (loss)	$ 3,630	$ 861	$ 1,739	$ (31,186)
Denominator:
Weighted-average shares used in computing net income (loss) per share, basic (in shares)	82,629	88,026	83,408	88,880
Basic net income (loss) per share (in dollars per share)	$ 0.05	$ 0.01	$ 0.02	$ (0.35)
Conversion of Class B to Class A common stock (in shares)	0	0	0	0
Weighted average effect of dilutive potential common stock (in shares)	0	0	0	0
Weighted-average shares used in computing net income (loss) per share, diluted (in shares)	82,629	88,026	83,408	88,880
Diluted net income (loss) per share (in dollars per share)	$ 0.04	$ 0.01	$ 0.02	$ (0.35)

Net Income (Loss) Per Share - W

Net Income (Loss) Per Share - Weighted-Average Anti-Dilutive Shares of Common Stock Excluded from the Calculation of Diluted Net Income (Loss) Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	13,932	13,880	5,701	68,717
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average anti-dilutive shares of common stock (in shares)	0	8,553	0	14,750
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)	13,932	5,327	5,701	53,967

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Provision for (benefit from) income taxes	$ 758	$ (10,363)	$ 3,866	$ 10,754

Geographical Information - Sche

Geographical Information - Schedule of Revenue Disaggregated by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 898,373	$ 763,203	$ 2,492,036	$ 2,073,809
Total property and equipment, net and operating lease right-of-use assets	125,593		125,593		$ 124,344
U.S. and Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	691,108	592,366	1,871,299	1,613,840
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	132,724	118,469	400,495	334,666
Rest of World
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	74,541	52,368	220,242	125,303
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	659,300	$ 560,000	1,785,600	$ 1,527,500
Total property and equipment, net and operating lease right-of-use assets	71,052		71,052		66,335
Ireland
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net and operating lease right-of-use assets	24,951		24,951		18,658
Mexico
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net and operating lease right-of-use assets	8,850		8,850		12,835
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net and operating lease right-of-use assets	$ 20,740		$ 20,740		$ 26,516

Geographical Information - Narr

Geographical Information - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Segment Reporting [Abstract]
Deferred revenue	$ 20.8	$ 15.3

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	Nov. 01, 2024	Nov. 07, 2024	Sep. 30, 2024	Sep. 16, 2023
Stock Repurchase Program, September 2023
Subsequent Event [Line Items]
Authorized share repurchase amount				$ 1,000
Stock remaining available for repurchases			$ 500
Subsequent event
Subsequent Event [Line Items]
Litigation settlement expense	$ 34.7
Subsequent event | Stock Repurchase Program, November 2024
Subsequent Event [Line Items]
Authorized share repurchase amount		$ 2,000
Subsequent event | Stock Repurchase Program, September 2023
Subsequent Event [Line Items]
Stock remaining available for repurchases		$ 500