Pinterest, Inc.

Good afternoon, and thank you for attending today's Pinterest second quarter 2022 earnings call. My name is Don Yeo, and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. If you'd like to ask a question, please press star followed by one on your telephone keypad. I would now like to pass the conference over to our host, Neil Adoshi, head of investor relations.

Neil, please proceed. Good afternoon, and thank you for joining us. Welcome to Pinterest earnings call for the second quarter ended June 30th, 2022. I'm Neil Doshi, head of investor relations for Pinterest. Joining me today on the call are Ben Silberman, Pinterest co-founder and executive chairman, Bill Reddy, Pinterest CEO, and Todd Bogenfeld, our chief financial officer and head of business operations. Now we'll cover the safe harbor. Some of the statements we make today regarding our performance operations and outlook, including the impact of the coven 19 pandemic. may be considered forward looking and set statements involve a number of risks and uncertainties that could cause actual results to different material. In addition, our results trends and outlook for Q3 2022 and beyond our preliminary and are not an indication of future performance. We are making these forward-looking statements based on information available to us as of today, and we disclaim any duty to update them later unless required by law. For more information, please refer to the risk factors discussed in our most recent forms 10Q or 10K filed with the SEC and available on the investor relations section of our website. During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in today's earnings press release and letter to shareholders, which are distributed and available to the public through our investor relations website, located at investor.pinterestinc.com. And now I'll turn the call over to Ben.

Thanks, Neil. And hi, everyone. We appreciate you joining our call. Today's going to be a bit different. In addition to announcing results, we're also marking an exciting new chapter for Pinterest. A few weeks ago, we welcomed our new CEO, Bill Reddy. Today, you're going to hear from him and see why we're all excited to have him at the helm. But before I turn it over to him and Todd, I just want to quickly touch on why we made the transition. First, I absolutely love Pinterest and cherish the journey we've been on for more than a decade. It all began in 2010 as a tool to help people collect all the things they love from across the internet. And in the years since, Pinterest has grown into something bigger and more meaningful. Today, Pinterest is a place where 433 million people all over the world come to get inspiration, a place where content creators can share their talents and passions with an inspired global audience, and a place where brands can connect with consumers trying to build their best lives. I'm grateful to everyone who's made this journey possible. First, our pinners, our extraordinarily talented team, and all the investors and businesses who've supported us along the way. I'm proud of what we've achieved together. But as far as we've come, I know Pinterest could be more. It's so clear that we have an opportunity to build an end-to-end platform, one that delights people with incredible inspiration, helps them plan their futures, and then brings those plans to life with purchases and actions. It's an ambitious vision that's bigger than one person, including a founder. And so for our next stage of growth, we sought a leader with expertise in e-commerce and shopping to help us capitalize on the strong user intent and planning behavior on our platform. I met and talked with a lot of people. Bill's skill set and experience stood out. He's a builder who scaled companies like Braintree and Venmo. He knows how to operate at global scale from his time as CEO of PayPal. He's a leader in commerce, most recently as President of Commerce, Payments, and Next Billion Users at Google. And beyond his resume, he shares our values and our aspiration of building a positive corner of the internet that's nourishing and encouraging. His passion is the same as ours, creating products that people love. It became clear to me that Bill will be a fantastic CEO for Pinterest next chapter, and the board felt the same way after discussions with him. And that's why we made the move. I could not be more excited about where Bill's going to lead Pinterest in the future. I know there's a huge opportunity ahead of us. I'm looking forward to fully supporting Bill's vision and strategy, and I can't wait to see how he leads us into the next great chapter of our story. With that, I'm going to turn it over to Bill to share a few thoughts.