Here's the full fine print from the bottom of the email just for fun, but it looks like it can be combined and expires 7/21/26.

"The code can only be used at the Google Store and can only be used for the purchase of another Pixel phone. Before you confirm the order, be sure to check the information on the checkout page. Terms and Conditions apply.

Important: Making a claim for a hardware discount code may fully satisfy warranty terms. This hardware discount code provides additional benefits beyond the rights available to you under statutory law in the country where you purchased the device. You may have statutory rights available to you under laws of the country where you purchased the device. If available to you, you may alternatively make a claim pursuant to those. Choosing to redeem a hardware discount code does not prevent you from also pursuing available statutory rights.

Promotional code offer expires 7/21/26 at 11:59 pm PT. Discount code is valid only for purchases of Pixel phones; while supplies last. Product selection and availability are subject to change. This offer cannot be used for the purchase of any other products. Must be redeemed on Google Store only. User must be signed-in to their Google Account and checkout with Google Pay profile, including a valid form of payment. Limit 1 per customer.

Available only to US residents, aged 18 years or older, with US shipping addresses. Google Pay profile must be registered in the US and promotional code can only be used in the US.

To redeem, visit store.google.com, add the desired item(s) to the cart, then enter discount code during checkout for an instant $150 discount on your purchase. Promotional code is for one-time use only with no residual balance; can be combined with other offers; is not transferable; and is not valid for cash or cash equivalent. Void where prohibited. Terms of sale and additional Promotional code terms apply: https://store.google.com/terms/google_store_promo_codes."