Good morning, everyone, and welcome to Pinterest's 2025 Annual Meeting of Stockholders. I would now like to introduce Ben Silbermann, the company's Non-Executive Chair.
Good morning, everyone. Welcome to our 2025 Annual Meeting of Stockholders. It's 8:00 A.M., and I now call the 2025 Annual Meeting of Stockholders to order. I'll now turn it over to Bill Ready, Pinterest CEO.
Thank you, Ben. Welcome to all of you, and thank you for joining our 2025 Annual Meeting. We are joined today by members of the Pinterest Board of Directors and the following members of the Pinterest team: Julia Brau Donnelly, CFO; Wanji Walcott, Chief Legal and Business Affairs Officer and Corporate Secretary; and Andrew Somberg, Vice President of Investor Relations and Treasury. Kat Parineh and Will Young, representatives from Ernst & Young, our independent registered public accounting firm, are also present and will be available to respond to appropriate questions later in the meeting. We are also joined by Kathy Blackwell, the Inspector of Elections. In accordance with our bylaws, Ben Silbermann will act as Chairperson of this meeting, and Wanji Walcott will act as Secretary of the meeting and record the minutes.
Before we proceed to the formal portion of the meeting, I will provide an update on our business and performance. Our 2024 results are a testament that our long-term strategy is working. We've transformed our user experience to focus on why people come to Pinterest: investing in actionability, relevance, and curation, all while distinguishing ourselves as a positive place online. As we've made our platform more actionable and generated a growing number of clicks and conversions, we've become a vital partner for advertisers across a range of categories seeking to reach our high-intent users and drive sales. As a result, we achieved strong growth in 2024. Pinterest delivered $3.6 billion in full-year revenue, up 19% year-over-year, with an all-time high of 553 million monthly active users as of the end of 2024, up 11% versus 2023.
In Q1 of this year, we continued our progress against our strategic priorities: growing users, creating value for our advertisers across the full funnel, and continuing to deliver profitable growth. Investing in our core differentiators and delivering innovative user experiences through our industry-leading visual search capabilities has led to continued strength in our user growth. In Q1, we finished with another record number of global MAU, reaching 570 million, up 10% year-over-year. Q1 revenue of $855 million grew 16% year-over-year, or 17% on a constant currency basis, as we continue to execute on delivering performance for advertisers across the full funnel. I'm grateful for our talented employees, as well as our users, advertisers, partners, and stockholders, for their ongoing support and continued belief in our mission. It's an exciting time, and I am confident that the future of Pinterest is brighter than ever.
I will now turn the meeting over to Wanji Walcott, who will conduct the formal portion of this meeting.
Thanks, Bill, and hello, everyone. Thank you again for joining us today. I'm Wanji Walcott. she is the Legal and Business Affairs Officer of Pinterest. Today's virtual-only meeting is a live web audio. We believe it's important to engage with our stockholders, and we hope that this virtual meeting will maximize participation regardless of location. In addition, having a virtual meeting enables us to reach a larger audience while reducing our costs and environmental impact. Thank you very much to those who are participating in our meeting today. I'm going to cover the formal business of today's meeting, which is described in our proxy statement for this meeting. This meeting will be conducted in accordance with the rules of conduct, which are in place to ensure a fair and orderly meeting for all stockholders in attendance.
You can access these rules in the meeting materials section of the virtual meeting website. We ask that participants abide by these rules and thank you for your cooperation. The polls opened at the beginning of the meeting, and we will close the polls on all matters immediately after the presentation of today's proposals. All Pinterest stockholders entitled to vote at this meeting can do so online. If you are a stockholder entitled to vote and have not yet voted, or if you want to change your previously cast vote, please do so via the website used to access this meeting. If you've already voted by proxy and do not wish to change your vote, your vote will be cast as previously instructed, and no further action is necessary.
After the presentation of today's proposals, we will announce the preliminary voting results and adjourn the formal part of the meeting and open it up to a general Q&A session. Confirmed stockholders, as of the record date, may submit questions at any time during this meeting by typing in the box provided on today's virtual meeting platform. As stated in the rules of conduct, due to time constraints, we ask that you limit yourself to one question and restrict your questions to matters of general interest to our stockholders. We will answer as many questions as time permits. Broadridge Financial Solutions, our proxy service provider, has indicated by affidavit that this notice of internet availability of the proxy materials was mailed to all stockholders of record at the close of business on March 26, 2025, the record date for this meeting.
The affidavit, together with copies of the notice of internet availability of proxy materials, the proxy statement, and the proxy, will be filed with the minutes of the meeting. Kathy Blackwell has been appointed as the Inspector of Election. She has signed an oath of office promising to execute faithfully the duties of the Inspector of Election. The oath of office will be filed with the minutes of this meeting. The Inspector of Election has determined that a sufficient number of shares entitled to vote at this meeting are present, in person or by proxy, to constitute a quorum, and we may proceed with the business of the meeting. The first item of business is the election of the four directors as set forth in Proposal 1 in the proxy statement.
Leslie Kilgore, Bill Ready, Benjamin Silbermann, and Salam Coleman Smith have been nominated by our Board of Directors to serve as Class 3 directors until our 2028 Annual Meeting of Stockholders or until their respective successors are duly elected and qualified, or their office is otherwise vacated. The board recommends that you vote for the election of each director nominee. The second item of business is our say-on-pay vote described in Proposal 2 in the proxy statement, which is an approval on a non-binding advisory basis of the compensation of our named executive officers. The board recommends for the approval of our say-on-pay vote. The third item of business is to ratify the appointment of Ernst & Young, LLP, as our independent registered public accounting firm for our fiscal year ending December 31, 2025. The board recommends that you vote for the appointment of Ernst & Young.
The fourth item of business is our proxy statement. In our proxy statement is to approve our amendment to our amended and restated certificate of incorporation to provide for officer exculpation as permitted by Delaware law. The board recommends that you vote for the amendment. I'll pause to check if there are any questions related to the company's proposals or for the Ernst & Young representatives here today. There appear to be no questions related to the proposals or for Ernst & Young. I will now pause for a moment in case there are any additional votes being cast. It is now 8:08 A.M. Pacific time, and the polls are now closed. Based on the preliminary review of the votes, the Inspector of Elections has informed me that all director nominees have been elected and each of proposals 2, 3, and 4 have been approved as per the board's recommendations.
We plan to publicly announce the official voting results in a Form 8-K after all the verifications have been completed by the inspector. This concludes the formal business of the meeting. Before I turn it over to Andrew Somberg, our Vice President of Investor Relations and Treasury, to moderate the Q&A, I would like to remind you that some of our comments today may include forward-looking statements, which are subject to the assumptions, risks, and uncertainties described in our SEC filings. We may also discuss certain non-GAAP financial measures. Please refer to our SEC filings for reconciliations and other required information and our Investor Relations website located at investor.pinterest.com for more information. I will now turn it over to Andrew.
Thank you, Wanjie. It appears at this time there are no questions. Now I'd like to turn it back to Bill.
This concludes today's meeting. Thank you for attending and for your interest in Pinterest. On behalf of our board and our leadership team, I'd like to thank you for your continued support.
Ladies and gentlemen, that does conclude today's conference call and presentation. We do thank you for joining. You may now disconnect your line.