Yahoo Finance

Pinterest has released its highly anticipated S-1 and will trade on the NYSE under the symbol PINS. In its filing, the social media and visual search company revealed a sharply reduced YoY loss of almost $63 million for 2018, largely thanks to an isolated $47 million quarterly profit for the three months ended December 31. In contrast, the company recorded a $130 million loss for 2017.

The S-1 comes as part of a rush of VC-backed companies seeking to go public in 2019. Ridesharing giant Lyft revealed its S-1—and its nearly $1 billion in losses last year—on March 1, and Uber is planning to file next month, according to TechCrunch. With the flurry of IPOs, Pinterest has taken efforts to expedite its listing to take advantage of a whirlwind of IPO fever. The company was previously seeking to raise $1.5 billion via a public debut in June but is now expected to list as soon as next month, according to Bloomberg.

The S-1 also confirms Goldman Sachs and JP Morgan Chase as underwriters, as was rumored in January, per the Financial Times. Of particular note is the Pinterest's declaration that existing Class B shareholders will have 20 votes per share, effectively granting majority control to its founders and existing shareholders.

Here are some key facts and figures from the filing: Pinterest's time as a private company Founded: 2008

Total venture capital raised: $1.5 billion

First achieved unicorn status: 2012, with a $1.7 billion valuation after a $100 million Series C, up from a $266 million valuation in 2011

Most recent funding round: 2017, a $150 million Series H at a $12.3 billion valuation Key figures 2018 revenue: $755.93 million, up from $472.85 million in 2017

2018 net loss: $62.97 million, down from $130.0 million in 2017

Monthly active users: 265 million as of 4Q 2018, up from 216 million in 4Q 2017

Average revenue per user (worldwide): $3.14 for 2018, up 25% from 2017
  Quarterly monthly active users (millions)
Notable takeaways Pinterest is highly seasonal The company's revenue and associated profit or loss fluctuate through the year, culminating with around a 50% revenue surge between the third and fourth quarters of each year, and then dropping sharply in the first quarter of the following year.
  Quarterly revenue (in millions)
This lies in contrast to Facebook and Twitter, which both typically experience an approximate 20-25% surge in fourth quarter revenue.

This could be due to Pinterest's focus on the visual experience, leading advertisers to increase spending to capture the impulsiveness and immediate communication that visual assets are uniquely able to deliver. Facebook and Twitter, for example, do not focus exclusively on visual content; instead, both platforms expect user expression in the form of written content (such as a tweet) and optional audiovisual content (such as an animated gif).

Going forward, Pinterest's strategy to evenly distribute annual revenue, or its possible indifference toward such spikes, should factor in to predicting the company's quarterly and annual earnings reports. International exposure is largely untapped In its S-1, Pinterest acknowledged an underwhelming international presence. The company says it is early in its monetization efforts and that international expansion is one of its top priorities: